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FG Earmarks $174.58m Counterpart Funding for PCP Program with UNIDO

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By Tony Obiechina, Abuja

The Federal government has earmarked the sum of $174.58 million as counterpart funding for Country Partnership Program (CPP), 2024-2028 with the United Nations Industrial Development Organisation (UNIDO).The Minister of Budget and Economic Planning, Senator Abubakar Bagudu who disclosed this at the singing of the PCP with UNIDO in Abuja yesterday, described it as a well-structured funding strategy.

According to him, the Government of Nigeria has committed a counterpart contribution of 14.
3 percent, amounting to $24.9 million while UNIDO will mobilize the remaining 85.7 percent, totaling $14.9 million, through donor/partner contributions.”This financial framework demonstrates the government’s dedication to driving industrialization while leveraging international partnerships to maximize impact.
Additionally, Nigeria has already made a financial commitment of $1.2 million as payment to UNIDO, reaffirming our active engagement in this initiative”, Bagudu disclosed.He said a crucial aspect of the partnership is UNIDO’s active engagement in expanding renewable energy solutions and promoting sustainable economic practices, adding that their pioneering work in Hydropower development and the deployment of mini girds is instrumental in enhancing energy access, particularly in underserved communities across Nigeria.”Simultaneously, UNIDO’s initiatives in advancing the Circular Economy are transforming waste management and resources efficiency, fostering a greener and more resilient industrial landscape. These efforts are pivotal in not only modernizing our energy infrastructure but also in reinforcing Nigeria’s broader strategy for economic diversification”, the minister said. He said beyond industrial growth, “This programme will stimulate Job creation, enhance skill development, and promote sustainable industrialization, ensuring that economic opportunities that will impact all Nigerians, particularly the youth and marginalized groups”Bagudu urged all stakeholders, including government agencies, development partners, private sector and civil society, to work collaboratively to ensure the seamless implementation of this programme, stressing that its success will depend on strong coordination, policy alignment, and commitment to results-driven execution.In his remarks, the minister of state for Industry, Investment and Industry, Sen, John Owen Enoh said the signing of the partnership agreement marked a significant milestone in Nigeria’s industrial development journey.the signing of the Programme for Country Partnership (PCP) as well as the Industrial Development Fund (IDF) Agreement between the Federal Republic of Nigeria and the United Nations Industrial Development Organization (UNIDO).He expressed gratitude the UNIDO as well as its Director General, Gerd Mulle for its steadfast partnership and unwavering support for Nigeria’s industrialization agenda, adding “let us move forward with a shared determination to unlock new opportunities for this great country and build a future of prosperity and sustainable development”.”It is instructive to note that your innovative approach through the PCP model has been instrumental in accelerating industrial growth in numerous member states, and Nigeria is privileged to be part of this transformative initiative”, he added.In his address, the Permanent secretary of Budget and Economic Planning Ministry, Dr Emeka Vitalis Obi said the partnership is poised to enhance environmentally-friendly industrial development at the Federal, State and Local Government level.”It will also serve as a strategy to cover the gaps and usher-in a robust industrial ecosystem. The value proposition and anticipated benefits from implementing PCP in Nigeria will offer a compelling rationale for diversifying our industrial and investment strategies”, he noted.According to him, the organisation of the event demonstrates the Government’s commitment to collaborating with stakeholders, both domestically and internationally, to drive the structural transformation of our economy.”This transformation is crucial for improving the welfare and living standards of all Nigerians. Achieving the economic growth and human development targets outlined in the National Development Plan (2021 – 2025) and the Sustainable Development Goals by 2030 will require concerted effort.”Therefore, it is essential for the Government to work closely with investors, enterprises, visionary individuals and multilateral development institutions to ensure these goals are met”, Obi added.

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FAAC: FG, States, LGCs Share N1.681trn April Revenue

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By Tony Obiechina, Abuja

A total sum of N1.681 trillion, being April 2025 Federation Account Revenue, has been shared to the Federal Government, States and the Local Government Councils.According to a statement by the OAGF Director of Press and Public Relations, Bawa Mokwa during the weekend said the revenue was shared at the May 2025 Federation Account Allocation Committee (FAAC) meeting held in Abuja.

The N1.
681 trillion total distributable revenue comprised distributable statutory revenue of N962.882 billion, distributable Value Added Tax (VAT) revenue of N598.077 billion, Electronic Money Transfer Levy (EMTL) revenue of N38.862 billion and Exchange Difference N81.407 billion.
A communiqué issued by the Federation Account Allocation Committee (FAAC) indicated that total gross revenue of N2,848.721 trillion was available in the month of April 2025. Total deduction for cost of collection was N101.051 billion while total transfers, interventions, refunds and savings was N1066.442 billion. According to the communiqué, gross statutory revenue of N2,084.568 trillion was received for the month of April 2025. This was higher than the sum of N1,718.973 trillion received in the month of March 2025 by N365.595 billion. Gross revenue of N642.265 billion was available from the Value Added Tax (VAT) in April 2025. This was higher than the N637.618 billion available in the month of March 2025 by N4.647 billion. The communiqué stated that from the N1,681. 228 trillion total distributable revenue, the Federal Government received a total sum of N565.307 billion and the State Governments received a total sum of N556.741 billion.The Local government Council received N406.627 billion, while the sum of N152.553 billion (13% of mineral revenue) was shared to the benefiting State as derivation revenue.On the N962.882 billion distributable statutory revenue, the communiqué stated that the Federal Government received N431.307 billion and the State Governments received N218.765 billion.The Local Government Councils received N168.659 billion and the sum of N144. 151 billion (13% of mineral revenue) was shared to the benefiting States as derivation revenue.From the N598.077 billion distributable Value Added Tax (VAT) revenue, the Federal Government received N89.712 billion, the State Governments received N299.039 billion and the Local Government Councils received N209.327 billion.A total sum of N5.829 billion was received by the Federal Government from the N38.862 billion Electronic Money Transfer Levy (EMTL). The State Governments received N19.431 billion and the Local Government Councils received N13.602 billion.From the N81.407 billion Exchange Difference, the communiqué stated that the Federal Government received N38.459 billion and the State Governments received N19.507 billion.The Local Government Councils received N15.039 billion, while the sum of N8.402 billion (13% of mineral revenue) was shared to the benefiting States as derivation revenue.In April 2025, Petroleum Profit Tax(PPT), Oil and Gas Royalty, Electronic Money Transfer Levy (EMTL), Value Added Tax (VAT), Excise Duty, Import Duty and CET Levies increased significantly while Companies Income Tax (CIT) decreased considerably.

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Tinubu Meets Catholic Bishops in Rome, Seeks Unity in Diversity

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By David Torough, Abuja

President Bola Tinubu has urged Nigerians to use their diversity for the country’s stability and rapid development.In a statement by the Special Adviser to the President on Information & Strategy, Bayo Onanuga said Tinubu spoke on Sunday in Rome when he received members of the Catholic Bishops’ Conference of Nigeria.

The President also issued a stirring call to leaders at all levels to work for the betterment of the citizenry.
Tinubu, a Muslim, said, “If we use our diversity not for adversity but for prosperity, the country’s hope is stability and progress.”He described it as historic, being the President of Nigeria when a new Pope was inaugurated in Rome.
The Catholic bishops were part of President Tinubu’s delegation to attend Pope Leo XIV’s installation mass on Sunday.Archbishop Lucius Ugorji, Archbishop of Owerri and President of the Catholic Bishops’ Conference of Nigeria, thanked President Tinubu for facilitating their visits to the Vatican to bury the late Pope Francis and witness the inauguration of Pope Leo XIV.He said the development signalled a new era of a more robust relationship between the President and the Catholic Bishops’ Conference.”You are always there for us. Now that you have come to the Vatican, whenever we have our conference in Nigeria, we will also invite you, and we look forward to interfacing with you just as you were able to do with the Holy Father,” he said.Archbishops Ignatius Kaigama of Abuja, Alfred Martins of Lagos, and Mathew Hassan Kukah, the Catholic Bishop of Sokoto Diocese, attended the meeting with the President.‘I’m the Head of Nigerian Delegation,’ Tinubu Tells Obi, Fayemi at VaticanPresident Bola Tinubu, Labour Party presidential candidate in the 2023 election, Peter Obi and a former Ekiti State Governor, Dr Kayode Fayemi, met briefly at the installation mass of Pope Leo XIV held on Sunday at the Vatican, Rome.The encounter, which drew attention on social media after it was shared by presidential aide Bayo Onanuga on X, took place during the religious ceremony attended by dignitaries from around the world.According to Onanuga, Fayemi first spotted Tinubu seated with other global leaders and urged Obi to join him in greeting the Nigerian leader.“Fayemi sighted President Tinubu, where he sat with other leaders and asked Obi to follow him to pay homage to the Nigerian leader. Obi agreed,” he posted.Upon reaching the President, Fayemi made a light-hearted remark to ease the atmosphere, saying, “Mr. President, welcome to our church, and thank you for honouring the Pope with your presence.”Tinubu immediately responded, “I should be the one welcoming you and Peter. I’m the head of the Nigerian delegation.”The President’s humorous response reportedly sparked laughter from Obi, who replied in agreement: “Yes, indeed. We are members of your delegation.”The interaction stood out for its symbolic significance, coming after the fiercely contested 2023 presidential election which saw Tinubu of the All Progressives Congress declared winner over Obi, the LP candidate.Both Fayemi and Obi are known to be devout Catholics and Papal Knights, an honour conferred by the Vatican on distinguished members of the Catholic Church.

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Bloody Weekend: Herdsmen Kill 15 in Benue, Boat Mishap Claims 27 in Kwara

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From Attah Ede, Makurdi, Samuel James, Ilorin and Dan Amasingha, Minna

Again, no fewer than 15 people were reportedly killed while several others sustained various degrees of injuries in a renewed attack by suspected armed herdsmen in Ogwumogbo and Okpo’okpolo communities in Agatu Local Government Area (LGA) of Benue State.

According to a source, the attack started on Saturday evening and continued into Sunday morning, two weeks after a similar assault in Otobi-Akpa community in Otukpo LGA, where a district head of Agatu living in Otukpo local government area with seven others lost their lives.
The source, who spoke to DAILY ASSET on phone on condition of anonymity, said 15 persons were killed in Ogbayi and Ogwumogbo communities respectively.
”There was a small stream there, called Abekoko, one Ali from Ogwumogbo and 14 others whose names were not known yet, were killed”.“Our farming communities are now deserted, with residents fleeing to neighboring areas in search of safety.“The situation is dire, especially for women and children, who are urgently in need of assistance.”We call on the Benue State Governor, His Excellency, Rev. Dr. Fr. Hyacinth Iormem Alia as well as security personnel, to kindly swing into action to put an end to this unfortunate massacre of our people by criminal herders”, the source said.The Chairman of Agatu Local Government Council could not be reached for comment.However, a close aide to the council chairman told newsmen on phone that his principal could not be reached because he was far away attending the burial of those killed by the herders.The Aide, who spoke on condition of anonymity said the situation is pathetic, painful and a distraction of peace currently being enjoyed in Agatu area.”My chairman is pained over this latest killing because it was uncalled for, hence the relative peace and tranquility in our area since the beginning of year.”I can confirm to you that 15 people were killed in Ogbayi and Ogwumogbo communities in Agatu by armed herders.The chairman of Agatu Local Government Council Melvin James Ejeh who later confirmed the incident, said he was speechless.”I’m too emotional to speak about this incident. This is the first time we are witnessing this, since I became Chairman; I’m sad – Chairman”The attack was unprovoked. I thank the Benue State Governor Rev Fr. Hyacinth Alia for his quick intervention and also the security personnel who have been drafted to the area to forestall further attack”, the Aide said.When contacted, the chairman of Miyietti Allah Cattle Breeders Association of Nigeria(MACBAN) Benue State chapter, Mohammed Risku, said he was in a meeting and promised to call back.Benue State Command Police Public Relations Officer (PPRO), Catherine Anene, said the command was yet to receive any report concerning the attack.Boat Mishap Claims 27 Passengers in KwaraTwenty seven people have reportedly died in a tragic boat mishap in Kwara State.The passengers were returning from a market trip in Niger State when the incident occurred.The tragedy happened barely seven months after over 100 villagers lost their lives in a boat in Gbajibo community in Kaiama Local Government Area of Kwara State.According to eyewitnesses and a survivor, the accident was said to have occurred at night three days ago due to overloading.They said the total number of the passengers onboard was uncertain as the boat was designed to carry 100 passengers but often carried nearly 300 passengers during dry and rainy seasons.It was added that a heavy storm of the impending rain might have contributed to the mishap.While confirming the incident, the Chairman of Kaiama Local Government, Abdullah Danladi, who led a government delegation to commiserate with the families of the victims, warned that the government would no longer tolerate the yearly reoccurrence of such tragedies.The Chairman however announced plans to set up a committee to enforce strict compliance with life jacket usage and ban night travel on local boats in the area.In addition, the Emir of Kaiama, His Royal Highness Muazu Umar, pledged to intensify public enlightenment campaigns to ensure passengers and boat operators adhere to water travel safety standards.Seven die in Niger Truck AccidentAn early morning Sunday truck accident at Essa, along the Agaie- Badeggi federal highway in Katcha local government area of Niger State has claimed seven lives.Confirming the accident, Niger State Emergency Management agency said the articulated vehicle was heading to the northern state of Kano from Lagos.The truck was carrying federal government grains and some passengers numbering 36, all male and was heading to Kano from Lagos.The accident occurred at about 3:00AM on Sunday, and was attributed to failed portions of the road that were yet to be reconstructed on Lambata -Bida axis.As of the time of filing this report, 7 people were confirmed dead, 11 people with a severe degree of injuries, while 5 people sustained minor injuries. Some of the injured were taken to Badeggi and Agaie health centres, and others were taken away by their fellow colleagues.Most of the dead passengers were also taken away by their relatives.Search and rescue operations were carried out by Nsema alongside commuters and some villagers near the scene of the incident.The DG NSEMA, Abdullahi Baba Arah, caution road users to be conscious of the rainy season as they traverse the country, especially articulated truck drivers.

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