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Senate approves MTEF/FSP 2025-2027 *Investigates NNPCL over N8.4trn withheld subsidy funds

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By George Mgbeleke Abuja
As the nation awaits the presentation of 2025  2025 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

Niger CJ Seeks mutual understanding between the Bar and Bench to enhance speedy dispensation of criminal, Civil Justice

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Justice Halima Ibrahim Abdulmalik,(right)

By Uthman Baba-Naseer,Minna

The Chief Judge of Niger State,Justice Halima Ibrahim Abdulmalik, has stressed the need for continued cordial and mutual understanding between members of the Bar and the Bench towards enhancing speedy dispensation of criminal and Civil Justice in the state.

She noted that both the Bar and the Bench are crucial and critical partners in the administration of Justice, urging legal practitioners in the state to continue to adhere strictly to the ethical and code of conduct of their practice.

Justice Halima Ibrahim was speaking during the 2026 Bar and Bench forum to commemorate the annual legal year of the Niger State Judiciary at the High Court foyer.

She urged members of the legal practitioners to engage in an open,decorum-driven discussion to resolve the operational challenges towards enhancing administration of justice in the state.

The Chief Judge noted that the e-filling system introduced in the state Judiciary,was aimed at going along with the digital system and she commended the NBA Minna Branch for its prompt adoption of the judiciary’s newly introduced e-filling system.

Speaking in the format of the interactive Justice Halima noted that a list of speakers had earlier been submitted,however, she stated that the floor remained open to all members of the Bar to express their concerns,grievances and preferred suggestions and the way forward regarding court operations and judicial service.

“ We as democrats,and given the essence of being here,is to evaluate ourselves,identify our problems and forge ways ahead. I’m ready with what model may be used” the Chief Judge stated.

She assured lawyers that they are under her protection and enjoyed full immunity on the floor to speak their minds in ensuring two ways feedback process key Judicial officers including the Director ICT and DCR litigation will be available to receive complaints regarding e-filling platform.

While also highlighting administrative challenges encountered by the court particularly in handling appeals she told legal practitioners to key in to the e-filling platform already introduced in the state High courts.

Justice Halima Ibrahim Abdulmalik use the forum to formally congratulated the new executive of the Minna branch of the Nigerian Bar Association (NBA) and also appreciated the immediate past leader of the branch Isyaku Barau for his support and cooperation during his tenure.

She assured that constructive feedback recieved from the forum, would be utilized to improve judicial efficiency and service delivery for the overall benefit of the legal profession and the citizens.

In her remarks,the Chief Registrar, of the High Court of Justice in Niger State,Amina Laminde Musa Saidu Esq explained that the Forum brings together two indispensable partners in the administration of Justice the Bench and the Bar.

She noted that their roles may differ,but share a common responsiblity in upholding the rule of law,preserve the integrity of the legal profession,and ensure the fair,efficient,and timely administration of justice.

According to the Chief Registrar, the effectiveness of the justice system depends significantly on a cordial and professional relationship between the Bench and Bar,founded on mutual respect, cooperation and constructive engagement.

“This forum therefore provides an important platform to discuss matters affecting court administration,professional conduct and practice,as well as challenges confronting the administration of justice in our state” she stated.

While commending the Chief Judge for her efforts in sustaining the Bench and Bar engagement and her commitment to strengthening the relationship between the two critical stakeholders,the Chief Registrar, pointed out that the initiative reflects the Chief Judge recognition that meaningful judicial reform requires consultation,cooperation,and the collective commitment of all stakeholders.

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$1trn economy: NBTI showcases 298 Nigerian innovators to global investors

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Entrepreneurs, investors, government officials and diplomats

By Our Correspondent

The National Board for Technology Incubation (NBTI) has showcased 298 Nigerian innovators from the 36 states and FCT to global investors in London as part of efforts to commercialise homegrown technologies.

The innovators featured at the 2026 NextGen Innovation Challenge grand finale, which drew entrepreneurs, investors, government officials and diplomats to explore investment and international collaboration opportunities.

Speaking at the event, the NBTI Director-General, Dr. Kazeem Kolawole Raji said innovation and technology commercialisation are critical to Nigeria’s $1 trillion economy ambition.

“A one-trillion-dollar economy cannot be built by government alone. It must be built by Nigerians who innovate, Nigerians who manufacture, Nigerians who invest, Nigerians who create intellectual property, Nigerians who build enterprises,” he said.

Raji said the Challenge was designed to bridge the gap between ideas and market, linking innovators with investors and global markets. Participation rose from 105 last year to 298 this year.

He commended the Federal Ministry of Innovation, Science and Technology, Ministry of Foreign Affairs, Nigerian High Commission in the UK, British High Commission and strategic partner UKALD for supporting the initiative.

“Today is a celebration, but tomorrow is the real test,” he said, urging innovators to build, commercialise, scale and take Nigerian innovation global.

Delivering a keynote on behalf of Nigeria’s High Commissioner to the UK, Ambassador Aminu Dalhatu, Ambassador Abu Obey Eche said London, as a global finance and tech hub, offers a strategic platform for Nigerian talent.

“Diplomacy today must go beyond governments speaking to governments. It must also connect businesses to markets, innovators to investors, researchers to institutions, and Nigerian opportunities to global capital,” he said.

Eche said the High Commission is committed to opening doors for local innovators and urged Nigerians in the diaspora to deploy capital and expertise to support emerging entrepreneurs.

An investor, Ms. Erin Grover said she was impressed, particularly by women-led innovations, and expressed interest in investing.

“I think there are some inspiring women here especially who I’ve been able to speak with today, and I definitely hope to invest in at least one of them coming out of this event,” she said.

“My one piece of unsolicited advice is to just never give up ever, be persistent as hell, keep going,” she told participants.

Chairman of APC UK and Executive Director of UKALD, Hon. Tunde Doherty, said the 298 innovations on display were investment-ready products, not just ideas, and urged investors to look to Nigeria for technology investment.

Permanent Secretary, Federal Ministry of Innovation, Science and Technology, Dr. Mukhtar Muhammad, also commended NBTI for expanding the platform and pledged stronger ministry support.

“If there is a problem in the society and you identify that problem and you try to solve it, you are making more impact to the society than someone who is doing several degrees in university,” he said.

The event marks an expansion from 105 innovators last year to 298 this year, with organisers targeting tangible outcomes in business creation, commercial partnerships, investment deals and jobs.

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HURIWA Demands Answers Over Corps Members’ Release, Says Authorities Must Clarify Ransom Claims

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By George Mbgeleke
The Human Rights Writers Association of Nigeria (HURIWA) demands an urgent explanation from the Federal Government, the Imo State Government and the Nigeria Police Force over conflicting accounts surrounding the release of 20 abducted prospective National Youth Service Corps (NYSC) members.

HURIWA in a statement by its national coordinator, Comrade Emmanuel Nnadozie Onwubiko, says the allegations by parents that they raised millions of naira to secure their children’s freedom raise serious questions that the authorities must address transparently.
The association urges President Bola Ahmed Tinubu and Imo State Governor Hope Uzodimma to clarify their respective positions and apologise to Nigerians if investigations establish that official statements created a misleading impression about the circumstances surrounding the victims’ release.
HURIWA notes that the police attribute the release to sustained search-and-rescue operations at Amakohia Ubi Village in Imo State, while the state government maintains that no ransom was paid.

However, accounts attributed to some parents tell a different story.
One mother, Alirat Wahab, reportedly told News Central Television that her family raised N6 million after the kidnappers demanded money for the release of their son.
Wahab said the abductors initially demanded N50 million for each of the 20 victims before negotiations led to a reduction in the amount demanded from her family.
“We only had N5.5m at the time, but they insisted on N6m,” she reportedly said.
Her husband also claimed that parents pooled resources, obtained loans and solicited contributions from relatives, friends and sympathisers to meet the demands.
Another mother reportedly told News Central that she paid N3 million after struggling to raise the money and sending someone to Imo State to deliver it.
HURIWA says these allegations warrant an impartial investigation, particularly because the families describe substantial financial sacrifices while the government insists that the victims were released without ransom.
The association stresses that a security operation and a possible ransom payment are not necessarily mutually exclusive. The critical questions are whether ransom was paid, whether security operatives conducted a rescue operation, and how these circumstances relate to the victims’ eventual release.
HURIWA therefore calls on the Inspector-General of Police to provide a detailed account of the operation and explain whether the police knew of any ransom negotiations or payments before the victims regained their freedom.
The association also urges the Imo State Government to explain the basis of its categorical denial of ransom payment and reconcile that position with the accounts attributed to the parents.
HURIWA cautions against treating the allegations as established facts before independent verification. However, it insists that the families deserve to be heard and that the authorities must provide evidence-based answers rather than leave the public to reconcile conflicting narratives.
The association warns that failure to address these questions could further weaken public confidence in security institutions at a time when Nigerians expect greater transparency and more effective action against kidnapping.
HURIWA calls on President Tinubu to urgently review the country’s security architecture, strengthen efforts to combat kidnapping and terrorism, and improve the protection of travellers on highways.
The association further insists that if an investigation establishes that any public official deliberately misrepresented material facts about the victims’ release, the relevant authorities must take appropriate action in accordance with the law. Where official statements prove inaccurate or misleading, HURIWA says the authorities should correct the record and offer an appropriate apology to Nigerians.
HURIWA welcomes the return of the 20 prospective corps members but maintains that their freedom must not end the search for answers. Nigerians deserve to know what happened, while the affected families deserve clarity about the circumstances surrounding their children’s release and recognition of the financial burdens they say they incurred.

9 October 2026

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