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FG Spends N1.16trn on Fuel Subsidy as Crude, Products Losses Account for N16.20b

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By Eze Okechukwu, Abuja

The Federal Government of Nigeria spent a whopping N1.16trillion on fuel subsidy, losing N16.20billion to crude and product issues while deducting a total of N1.20trillion from the federation account as sales and proceeds in 2021.

Disclosing this in Abuja yesterday during his presentation to the Senate Public Account Committee (SPAC) probing the 2021- 2023 Audit Report on the Oil and Gas Industry conducted by Nigeria Extractive Industries Transparency Initiative (NEITI), the Chairman of Revenue Mobilization Allocation and Fiscal Commission (RMAFC), Dr Mohammed Bello Shehu added that pipeline repairs gulped N22.

05billion and strategic stock holding N6.75billion in that fiscal year.

Speaking further, the RMFAC boss revealed to the Committee that during the period, the intention of the derivation objective was undermined by the way it was computed.

“The practice of computing 13% derivation on the balance of revenue after deductions from the total collections is contrary to the intention of the derivation objective “, he said.

However the Senate Committee Chairman on Public Account who was a former Accountant General of the Federation, Senator Ibrahim Dankwambo stood down the reports of the Niger Delta Development Commission ( NDDC) ‘s submission saying the measure was to offer members enough time to study the report while ordering the Agency to reappear midweek.

Senator Dankwambo who was visibly upset following the non – appearance of the Auditor – General of the Federation for the investigative session without any valid or representative however threatened that the Auditor General must unfailingly appear before the Committee on Tuesday next week or risk a forced appearance through the invocation of the powers of the National Assembly.

” The Auditor – General must unfailingly appear before this committee on Tuesday next week or risk invocation of powers of the National Assembly against him , which will lead to forced appearance”, he said.

POLITICS

Orile-Agege Council Chairman Flags off Monthly Business Grant Disbursement

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The Chairman of Orile-Agege Local Council Development Area (LCDA) of Lagos State, Akinola Idowu, has flagged off the disbursement of N100,000 monthly business support grants to selected residents.

The programme was held on Thursday at the council secretariat with 50 beneficiaries in attendance.

In his address, Idowu said that the initiative fulfilled his administration’s promise to improve welfare and promote grassroots economic development in Orile-Agege.

He reaffirmed commitment to people-oriented governance aimed at improving livelihoods, encouraging entrepreneurship and reducing poverty in the council area.

The chairman urged beneficiaries to invest the funds in productive ventures that would grow businesses and create employment opportunities.

He assured that the monthly empowerment would be sustained, with more deserving residents from every ward benefiting in subsequent editions.

“Governance is meaningful only when it directly impacts the lives of the people,” Idowu said.

He reiterated resolve to implement programmes that promote inclusive development, economic prosperity and shared progress across Orile-Agege LCDA.

Peju Owolabi, one of the beneficiaries, commended the chairman for the timely intervention to strengthen small businesses and support household incomes in the LCDA.

Another beneficiary, Miss Basanya Taofikat, thanked the leadership of the council for the support and prayed for a successful tenure for the chairman’s administration.

Adeshina Ademola, a shoemaker and a beneficiary lauded Idowu for contributions to grassroots development.

Ademola said that the grant would help expand his business.

Other beneficiaries described the initiative as a testament to the administration’s dedication to empowering residents and fostering self-reliance.

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City Boy Movement Replaces Oyo Coordinator over Alleged Misconduct

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The City Boy Movement (CBM) has replaced its Oyo State Coordinator, Ahmed Ajibola, following allegations of gross misconduct, insubordination, and conduct prejudicial to the interests of the organisation.

This is contained in a statement issued in Ibadan on Thursday by the Director-General of the Movement, Mr Francis Shoga.

Shoga said that Ajibola’s replacement followed allegations of making offensive comments about the Movement’s patron, Seyi Tinubu and derogatory remarks directed at President Bola Tinubu.

The movement’s D-G also accused Ajibola of engaging in conduct capable of bringing the image and reputation of the City Boy Movement into disrepute.

The CBM consequently announced the appointment of Adewale Oladiti as the new Coordinator for Oyo State.

Oladiti’s appointment, Shoga said, was due to his commitment, grassroots engagement, and willingness to contribute to the growth and advancement of the organisation in the state.

The City Boy Movement is a support group associated with the political interests of President Bola Ahmed Tinubu.

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POLITICS

Democracy Must Deliver Real Impact Beyond Elections – Sanwo-Olu

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Lagos State Governor, Babajide Sanwo-Olu has said that democracy must transcend periodic elections to deliver tangible improvements in the lives of citizens.

Sanwo-Olu stated this on Thursday at the Centenary Lecture and Seminar Series III commemorating the 100th anniversary of the Yoruba Tennis Club, held at Onikan, Lagos.

The lecture had the theme: “Democracy and the Imperative of Good Governance: Renewing Hope in Challenging Times.

According to the governor, the true test of good governance lies in the ability of governments to translate public trust into measurable progress and renewed hope.

He called on leaders in the country and institutions to prioritise service, strengthen democratic structures and ensure that the dividends of governance were felt in the everyday lives of the people.

“Citizens do not wake up each morning asking whether democracy exists; they ask whether democracy is working for them.

“Every completed road, functioning school, job created and improved public service should strengthen citizens’ confidence in government and reinforce their faith in the democratic process,” he said.

Sanwo-Olu said his administration had continued to pursue this philosophy through its THEMES+ Development Agenda.

The agenda, he said, focused on transportation and urban mobility, healthcare, education, security, digital innovation and creating an investment-friendly environment.

According to him, hope cannot be sustained by speeches alone but must be reinforced by visible progress and governments keeping its promises.

Highlighting global challenges such as economic uncertainty, technological disruption, climate pressures and security concerns, the governor called for stronger collaboration among governments, private institutions and civil society.

Sanwo-Olu stated that no government or institution could build a prosperous and stable nation alone.

While congratulating the Yoruba Tennis Club on its centenary, the governor urged members to continue to nurture enlightened leadership, promote constructive dialogue and inspire future generations.

“Nigeria needs more institutions that build bridges rather than barriers, more conversations that unite rather than divide, and more leadership that inspires confidence rather than fear.

“Ultimately, the future of our democracy will be shaped not only by those who occupy public office, but by the quality of our institutions, the strength of our values and the willingness of every citizen to play a positive role in nation-building,” he said.

In his lecture, Gov. Umo Eno of Akwa Ibom said the true measure of democracy lies not in the conduct of elections but in the quality of governance they produce.

Eno noted that democracies globally face mounting challenges, including economic pressures, insecurity, climate change, youth unemployment and declining public trust, but said such periods also present opportunities for renewal.

“Democracy must deliver tangible benefits to citizens through quality healthcare, education, and infrastructure and improved living standards; elections confer legitimacy, governance justifies it,” he said.

The Akwa-Ibom governor identified accountability, transparency, citizen participation, rule of law and equity as key pillars of good governance, stressing that governments must remain answerable to the people.

According to him, inclusive governance, fair resource distribution and adherence to the rule of law are essential to rebuilding public trust and ensuring meaningful development.

The Chairman of the Yoruba Tennis Club, Chief Olawumi Gasper, described the club as Nigeria’s oldest indigenous social club with a legacy of fostering friendships, civic values and intellectual engagement.

Gasper urged participants to reflect on Nigeria’s democratic journey, celebrate past leaders and renew their commitment to good governance, institutional excellence and sustainable development.

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