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Senate approves MTEF/FSP 2025-2027
*Investigates NNPCL over N8.4trn withheld subsidy funds
By George Mgbeleke
As Nigerians await the presentation of 2025-2027 National Budget by President Bola Tinubu before the joint session of National Assembly very soon, the Senate on Tuesday approved the 2025–2027 Medium Term Expenditure Framework, MTEF and Fiscal Strategy Paper, FSP earlier submitted by the President.
This was even as the Red Chamber mandated its joint Committees on Finance; Petroleum (Upstream) and Petroleum (Downstream) as well as Gas to investigate reports from the Revenue Mobilisation, Allocation and Fiscal Responsibility Commission, RMAFC, alleging that the Nigerian National Petroleum Company Limited, NNPCL withheld N8.48 trillion as claimed subsidies for petrol.
It noted that the investigation would address the Nigeria Extractive Industries Transparency Initiative, NEITI report, stating that NNPCL failed to remit $2 billion (N3.6 trillion) in taxes to the Federal Government.
The Senate further directed its committees to verify the total cumulative amount of unremitted revenue (under-recovery) from the sale of Premium Motor Spirit, PMS also known as petrol by the NNPCL between 2020 and 2023.
It also directed the relevant committees to carry out in-depth investigation of such agreements by the NNPCL, Nigerian Liquefied Natural Gas, NLNG and Immigration Services with a view to reconcile remittances to the Federation Account.
The approval followed the adoption of the report of Senate joint Committees on Finance; and National Planning & Economic Affairs, chaired by Senator Sani Musa (APC Niger East) during plenary.
In the three years projections, the Senate pegged the exchange rate at N1,400/$ for 2025, 2026 and 2027 respectively.
It also projected oil benchmark prices at $75, $76.2 and $75.3 per barrel for 2025, 2026 and 2027 respectively.
The Senate added that the three-year projections for domestic crude oil production had a significant increase from 1.78m bpd in the preceding year to 2.06, 2.10 and 2.35 for the subsequent years of 2025, 2026 and 2027, respectively.
It further projected Gross Domestic Product, GDP growth rates of 4.6 per cent, 4.4 per cent, and 5.5 per cent for 2025, 2026 and 2027.
The Red Chamber also projected the inflation rates at 15.75 per cent, 14.21 per cent, and 10.04 per cent for 2025, 2026 and 2027 respectively.
It, however, demanded a reduction in the petrol prices against the backdrop of the commencement of production at the Port Harcourt refinery.
According to the recommendations, “The 2025 Federal Government of Nigeria budget proposed spending of N47.9trilion of which N34.82 trillion is retained. New borrowings stood at N9.22trillion, made up of both domestic and foreign borrowings.
“Capital expenditure is projected at N16.48 trillion with statutory transfers standing at N4.26 trillion and sinking funds projected at N430.27billion.”
Speaking during debate on the report, the chairman of the Senate Committee on Appropriations, Senator Solomon Adeola (APC Ogun West) referenced the Federal Government’s Compressed Natural Gas, CNG initiative as the underlying imperative for the adoption of the N1,400 to one dollar.
“With the functioning of our refineries the demand for Forex will drop. With the CNG initiative, Nigerians will have an option for your information if you leave Benin to Lagos the amount of fuel is about 130,000 but with CNG you can’t use more than N48,000. Another issue to be addressed is the recurrent to-capital ratio which is very high,” he said.
In his contribution, the former Senate Leader, Senator Yahaya Abdullahi (PDP Kebbi North), stressed the need to support the manufacturing industries if the projections of the MTEF are to be achieved.
In his remarks, the Senate President, Senator Godswill Akpabio commended the chairman and members of the joint committees for their indepth analysis and general good work done on the document.
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Law & Crime

Osun Election: APC,PDP challenge Gov Adeleke’s Victory…As Tribunal Displays 2 Petitions

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By Our Correspondent

Barely three weeks after the Independent National Electoral Commission (INEC) declared governor Adeleke of Accord party winner of Osun election, the All Progressives Congress, (APC) and the Peoples Democratic Party, (PDP) have challenged the outcome of the August 15, 2026, Osun Gubernatorial elections incumbent governor’s victory as Tribunal displays two Petitions

The petitions were confirmed in a notice sighted by our correspondent at the tribunal secretariat in Osogbo on Monday, formally commencing the legal process arising from the August 15 governorship election.

The development followed confirmation by the secretary of the tribunal, Pefe Belemore, that petitions challenging the election outcome had been filed.

According to Belemore, “The necessary notices would be displayed on the tribunal’s notice board before noon on Monday.”

At the opening of the tribunal earlier in the day, Belemore was present in the courtroom alongside other officials of the secretariat as preparations were made for the commencement of proceedings.

The APC and PDP are challenging the outcome of the election, which returned Adeleke as governor for another term in office.

The display of the petitions is expected to pave the way for the service of legal processes on the parties involved and subsequent proceedings before the tribunal.

The APC’s petition, marked EPT/OS/GOV/01/2026, was filed by its governorship candidate, Bola Oyebamiji.

Oyebamiji listed Adeleke, the Accord and the Independent National Electoral Commission, INEC, as respondents in the petition challenging the election outcome.

The PDP’s petition, marked EPT/OS/GOV/02/2026, was filed by Adebayo Olugbenga Adedamola against Adeleke, INEC and the Accord.

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Law & Crime

IPC-SPJ Hub Condemns Attack on Kano Journalists, …. Tasks Security Agecies on Protection during Political Rallies

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NUJ National President ,Alhassan Yahaya

By David Owei

The Safety and Protection of Journalists (SPJ) Hub of the International Press Centre (IPC) condemns the attack on journalists who were returning from covering the All Progressives Congress (APC) rally at the Sani Abacha Stadium in Kano on Saturday, 5th September 2026.

Reports reaching the Hub states that, “a vehicle conveying four Radio Nigeria Pyramid FM staff, a journalist from Guarantee Radio and another from Daily Trust, was attacked by hoodlums, who repeatedly hit the vehicle, leaving the driver to sustain injuries, while some of the journalists were hit by broken glass from the damaged vehicle.”

“The incident happened after the APC had held the Tinubu Support Group rally at the Sani Abacha Stadium in Kano,” the report further revealed.

The Executive Director of IPC, Mr. Lanre Arogundade in a statement described the unfortunate incident, as a serious concern and threat to press freedom, considering the damage on a Radio Nigeria, Pyramid FM vehicle.

Mr. Arogundade noted that, “the campaigns and rally just recently started, and journalists should not be subject to any form of attack at this time, when political activities are gradually increasing ahead of the general elections.”

The Hub is therefore calling on all security agencies to at this time be intentional about safeguarding journalists, especially those deployed to the field to cover political activities, especially during large gatherings where journalists are exposed to potential risks.

The Hub is also admonishing media organisations and journalists covering elections to always conduct security scan and safety consciousness in coverage of electoral issues.

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Law & Crime

N33.75bn Cash Transfer: HURIWA Demands Suspension, EFCC Probe, Recovery

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By George Mgbeleke

The Human Rights Writers Association of Nigeria (HURIWA) has demanded the immediate suspension of officials in charge of the National Cash Transfer Office and ordered a full-scale investigation into the N33.75 billion cash transfer that the Auditor-General for the Federation and states have failed to properly account for.

HURIWA in a statement by its national coordinator, Comrade Emmanuel Nnadozie Onwubiko emphasized that Nigerians cannot continue to watch helplessly as billions of naira meant for poor and vulnerable citizens disappear into unverifiable transactions.

The group called on the Economic and Financial Crimes Commission (EFCC) to launch a vigorous forensic investigation, trace every naira, and recover any amounts determined to have been wrongly paid, diverted, or misapplied.

The Auditor-General’s findings revealed a significant breakdown in financial controls governing one of the Federal Government’s most sensitive social intervention programs, as payments to 3,295,207 households across 35 states in 2023 could not be authenticated.

HURIWA demands explanations for incomplete beneficiary details on payment vouchers and the unavailability of necessary Remita statements for reconciliation purposes. Disturbingly, auditors were reportedly obstructed by National Cash Transfer Office staff from accessing these records.

HURIWA insists on a thorough investigation to follow the money from government accounts to the final recipients, stating that no official should use bureaucracy to shield themselves as unverified billions remain in limbo. The organization urges the EFCC to verify each payment and identify genuine vulnerable Nigerians among the beneficiaries. Misallocated funds must be recovered, and those responsible held accountable.

Moreover, HURIWA stresses that this situation extends beyond the N33.75 billion, highlighting additional discrepancies totaling N36.74 billion and stressing the need for a comprehensive audit of the entire National Cash Transfer Programme.

HURIWA challenges President Bola Ahmed Tinubu to uphold public accountability and restore faith in government poverty-alleviation efforts. The organization insists that political connections should not shield individuals from accountability and demands prompt action.

HURIWA demands the Federal Government:
1. Suspend officials of the National Cash Transfer Office pending investigation.
2. Direct the EFCC to conduct a full forensic probe into the N33.75 billion and related transactions.
3. Trace every naira and identify persons/entities that received funds.
4. Recover misallocated funds and return them to the Treasury.
5. Publish credible disbursement records.
6. Investigate and prosecute those obstructing auditors.
7. Conduct a full audit of the social intervention programme and publish findings.
8. Prosecute culpable individuals following investigations and due process.

HURIWA urges that the funds meant for vulnerable citizens must reach them and calls for immediate action to restore public trust in government operations.

Find the money. Recover the money. Name those responsible. Prosecute the culpable. Return Nigerians’ money to the Treasury.**

That is the minimum accountability Nigerians deserve.

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