Politics
Africa Parliaments reject yearly loss of $587billion revenue leakages ….As NASS intensifies legislation on NABRO
By George Mgbeleke
Prominient parliamentarians from notable African countries converged on Abuja Monday to collaborate on blocking yearly leakages of $587billion as stated by the African Development Bank ( ADB) in May this year .
This is as the National Assembly expressed its commitment on establishment of the National Assembly Budget and Research Office (NABRO) as an independent, non-partisan budget office for evidence-based budgeting, comparable to the renowned U.S. Congressional Budget Office (CBO).
Move against the annual loss of $587billion which is equivalent to N887trillion to capital flight in Africa came to the fore at the opening session of 8th Conference of African Network of Parliamentary Budget Offices held at the Abuja Continental Hotel .
In his key note address at the occasion , the Speaker of the House of Representatives , Hon Tajudeen Abbas said there is no better time for the gathering to focus on fiscal and governance challenges facing various countries in Africa through effective and efficient legislations than now .
According to him , one of the critical challenges is revenue leakage through corruption, illicit financial flows, and inefficiency, which must be tackled through better ways of budget scrutiny .
“According to the African Development Bank, Africa loses over $587 billion annually to capital flight – money that flees the continent through corruption, illicit trade, mispricing, and profit shifting by multinational corporations, among other channels.
“Corruption alone is estimated to drain about $148 billion from Africa annually, and other illicit financial flows (such as trade malpractices, smuggling, among others) siphon away additional tens of billions.
“This is money that should be used to build roads in Lagos, equip hospitals in Nairobi, or improve schools in Accra, but instead it vanishes,” he said .
He posited that Nigeria presents a cautionary example of both the challenge and urgency of oversight , saying ” In our public procurement processes, which make up a significant part of government spending, Nigeria loses an estimated $18 billion each year to financial crimes, roughly 3.8% of our GDP. These leaks could fund numerous social programmes many times over”
“There is a need to stop such leakages so that budgets can lead to better outcomes for citizens.
“That is why we have been increasing oversight hearings, audit inquiries, and strengthening anti-corruption laws. Oversight is vital to ensure that limited resources are used for the public good.
” Institutional capacity constraints also pose a challenge. Many African parliaments have historically lacked independent analytical resources to effectively scrutinise budgets and expenditures.
“Without access to high-quality fiscal data and economic analysis, legislators may struggle to hold the executive to account on complex issues of macroeconomic policy, debt sustainability, or public investment efficiency.
“This gap is exactly what Parliamentary Budget Offices are meant to fill,” he stressed .
He explained further that in the face of the challenges, we are responding with reforms to strengthen the legislative “power of the purse” and ensure accountability.
In doing that , he said one of the most significant advancements in Nigeria is the effort to establish the National Assembly Budget and Research Office (NABRO) as an independent, non-partisan budget office for our legislature.
“Let me assure this audience that the National Assembly is fully committed to NABRO’s realisation, full funding, and independence.
“We envisage NABRO as a catalyst for evidence-based budgeting, comparable to the renowned U.S. Congressional Budget Office (CBO).
“Beyond NABRO, the Nigerian legislature is advancing a broader fiscal governance agenda.
“We are revising our Fiscal Responsibility and finance laws to enhance budgetary discipline and transparency.
“We are empowering our Public Accounts Committees to take decisive action on audit findings”, he added .
Earlier in his remarks at the conference attended by representatives from 16 countries , the Clerk to the National Assembly ( CNA) , Barrister Kamoru Ogunlana described it as a critical platform for peer learning, capacity building meant for promoting the institutionalisation of evidence-based public finance management.
“I encourage us all to use this Conference not only as a platform for exchange, but as a springboard for innovation and renewed commitment to fiscal representability”, he said .
Some of the participating member states at the conference are Nigeria , Ghana , Kenya , Uganda , South Africa , Tanzania ,Namibia , Zimbabwe , Malawi , Mozambique , Liberia ,Gambia ,Sierra Leone , Cape Verde etc .
Politics
SDP Moves To Consolidate Reforms Ahead Of 2027 Elections
By Our Correspondent
The Social Democratic Party, SDP, has expressed commitment to party unity, internal reforms and preparations for the 2027 general election after its second National Executive Committee (NEC) meeting in Abuja Thursday.
National Chairman, Professor Sadiq Gombe, said the party had made significant progress within four months by holding two NEC meetings, conducting its National Convention, electing Prince Adewole Adebayo as its presidential candidate, conducting primary elections and strengthening its structures across the country.
He praised INEC for its cooperation and said the party remained committed to the rule of law, insisting the SDP had no faction and that disciplinary actions against former officials followed due process.
Professor Gombe urged members to remain united and strengthen grassroots mobilisation ahead of the 2027 elections.
In his remarks, the National Secretary of the party, Dr. Olu Agunloye, said the party had reviewed its structures, updated its constitution, improved its membership register and introduced new administrative procedures to strengthen accountability.
He added that the next phase of reforms would focus on building strong polling unit structures and training polling agents ahead of future elections.
Also speaking, Vice National Chairman South of the party, Senator Ugochukwu Uba urged members to remain united, saying the party’s manifesto focuses on the welfare and security of Nigerians.
In his goodwill message, Mr. Solomon Akwashiki also expressed confidence that the SDP would win more elective positions in 2027.
Chairman of the SDP State Chairmen Forum, Femi Olaniyi, urged party leaders to strengthen structures at the state, local government and ward levels, while encouraging voter registration, PVC collection and membership drives.
In her vote of thanks, the National Woman Leader, Saadatu Abdullahi called for greater participation of women in the party’s leadership and decision-making, noting that she had previously proposed the inclusion of state and zonal women leaders in the National Executive Committee.
Politics
Senate Approves Lafarge Sale to Huaxin, Says No Security Risk
By Our Correspondent
The Senate, on Thursday at plenary approved the sale of Lafarge Cement Plc to Hainan Huaxin Pan-African Investment Company Plc, saying the transaction poses no immediate national security risk to Nigeria.
The approval followed the adoption of the report of the Senate Ad hoc Committee on the sale of Lafarge, presented by Chairman and Senate Minority Leader, Sen. Abba Moro (Benue South).
Moro said the committee found no security threat in the deal and urged all relevant regulatory agencies to maintain strict oversight to ensure compliance with Nigerian laws.
The Committee recommended that the parties must comply with due process and “all Nigerian extant laws on the subject” in finalising the transaction.
Recall that the Senate Committee on Capital Market had probed the sale in December 2025 over concerns about Lafarge’s ownership structure and Nigeria’s stake in the company.
An adhoc committee chaired by Moro was later set up to conduct a deeper review of the process.
According to the report approved on Thursday, much of the controversy surrounding the sale arose from a misconception that Lafarge was wholly owned by Nigeria.
The committee clarified that the transaction is a transfer from one foreign ownership to another, as Lafarge itself is a foreign firm selling to Huaxin.
“As such, this transaction will not affect the investment of Nigerian public investors in the company,” the report stated.
It added that the integration of foreign investment through the deal was “an economic necessity and strategic initiative that aligns with national development goals.”
The committee also confirmed that key regulatory bodies including the Securities and Exchange Commission, SEC, and the Corporate Affairs Commission, CAC, had reviewed the transaction for compliance.
It further disclosed that the 16.19 per cent shares held by Nigerians in Lafarge remained intact despite the change in ownership.
The report noted that concerns over foreign dominance in the cement sector were unfounded, as Lafarge currently holds only about 18 per cent of the market share.
Deputy Senate President, Sen. Jibrin Barau, who presided, commended the committee for a “comprehensive and well-articulated” report that clarified all issues.
“The information is well put together and well understood. This matter has now been put to rest,” Barau said
Politics
City Boy Movement Poised to Ensure Maximum Victory for Tinubu in 2027 – Akpabio
By Our Correspondent
The President of the Senate, Godswill Akpabio has said that the City Boy Movement is posied to ensure maximum victory for the re-election of President Bola Ahmed Tinubu in 2027.
Addressing a delegation of the City Boy Movement during a courtesy visit to his office on Wednesday, Akpabio commended the commitment and patriotism exhibited by the group whose primary mission is to ensure Tinubu is back in office for a second tenure as President in 2027.
Akpabio remarked that “The City Boy Movement is like a wind blowing across the nation. You may not see it but you can feel it. Every political party in Nigeria is already feeling the impact of the City Boy Movement.
“Never again shall we have a situation in any polling unit in Nigeria where Mr President will not have an agent because we have the City Boy Movement.
“In the last election, if your Movement had existed, many of our votes that were not counted in many polling units would have been counted.
“I want you to have it in mind that you have come up at the right time and l do know that you are all poised to ensure maximum victory come 2027.
“Know that while you are doing all these and you are going round the country mobilising, sensitising the populace, the voters, educating them, other political parties are sleeping. They are not doing the same.
“But when the victory of President Bola Ahmed Tinubu will be announced, you will hear people saying it is rigged. That they did this, they did that. Ignore all those things and remain focused.
“This is now your turn to shape your future. This is your turn to take the lead on how Nigeria should go. I know that as you campaign for the President, you are also learning and acquiring knowledge on how to mobilise and campaign for yourselves in future.
“So what l will say is that, we are with you. The Senate of the the Federal Republic of Nigeria is pleased with the youths of this country who have decided to tow the right path.
“We are mindful of the fact that some youths, as a result of cultism and drug abuse, have fallen aside and are misguided. We are mindful of that.
“But when they say “build the youths,” because they are the future of the nation, l also want to urge “maintain the elders,” because they are the people today that God has given wisdom to.”
Quoting from a Philosopher, Akpabio who is also the Grand Patron of the Movement offered some advice to members of the group and to the Nigerian youths in general: “It is not a tragedy when a nonentity whimpers through life and ends up a failure in the grave. But it is a tragedy when a potentially achieving young man or woman, out of a flaw in his or her character becomes a failure and ends up in the grave.
“Where you are now, you are privileged to work for the future of your country. You are privileged to tow the right path that has nothing to do with cultism or terrorism.
“You are privileged to chart the path of the next administration. You are also privileged to belong to the incoming government of Asiwaju Bola Ahmed Tinubu in 2027. It will be a tragedy for any of you to derail. We assure you that here we are 100 percent with you.”
Earlier, the Director-General of the City Boy Movement, Francis Shoga said the visit was an opportunity to strengthen collaboration between lawmakers and the Movement.
“We seek your continued guidance and support as we expand our programmes across the country, deepen civic engagement among the young Nigerians and contribute meaningfully to national development,” Francis said.
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