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How Emefiele Ordered Me To Transfer Funds To A Relative’s Account – Witness Reveals In Court
AFOLABI
A former secretary in the office of the Governor of the Central Bank of Nigeria (CBN), John Ogah, has revealed how his former boss, Godwin Emefiele, directed him to transfer funds to a close relative.
While testifying yesterday in an Ikeja Special Offences Court, Ogah clarified that Emefiele and his spouse, Margaret, were not shareholders in three companies purportedly owned by them.
The witness provided this information during cross-examination as the trial of Emefiele and one Henry Omoile for alleged abuse of office and money laundering continued.
Ogah explained further on Wednesday that the transfers were made from three companies: Comec, Limelight, and Amswin Resources Limited.
However, during cross-examination by Emefiele’s attorney, Olakekan Ojo, SAN, the witness clarified that neither Emefiele nor his wife, Margaret, held shares in the three companies in question.
“The first defendant and his wife were not shareholders in the three companies linked to them,” he said.
Ogah provided the court with his interpretation of beneficial ownership of shares, emphasizing that it was consistently documented.
However, he admitted to the court that he did not present any documentation proving their status as shareholders in the three companies.
The witness indicated that he maintained records during his tenure as secretary to the former CBN governor, noting that these records were intended for reference purposes.
When questioned about whether he had shared the records with the EFCC while in custody, he stated that he had not shown any documents to the EFCC.
Additionally, the witness confirmed that there was no written correspondence between him and Emefiele, according to the information he provided to the EFCC.
He mentioned that approximately 99 percent of the instructions he received from Emefiele were not documented in writing.
During cross-examination by the second defence lead counsel, Kazeem Gbadamosi, SAN, the witness acknowledged that he is both a director and a shareholder of a construction company.
“The company has account with Zenith Bank but I am not a signatory to it. My name is not on the mandate form when the account was opened,” he said.
A suspected member of a ‘One chance’ syndicate was reportedly lynched around the NYSC junction, along the Kubwa express way in Abuja on Tuesday.
Witnesses, who spoke to City & Crime, said the suspect arrived the area around 2 am in a gulf car, in company of two others from the Dutsen-Alhaji junction, on the same express way.
A member of the United Hunters Society of Nigeria in Kubwa, Muhammad Sani, while speaking to our reporter, said the two other members escaped from the scene immediately their vehicle hit a road barrier.
Also speaking, a security guard with one of the filling stations in the area, Sulaiman Yunusa, said a stolen motorcycle being driven by one of the robbers, was recovered at the scene, before the vehicle was set ablaze by the mob.
He said one chance activities are becoming rampant along the express way, with some of them stealing goods from trucks parked along the road during the night hours.
Our reporter, who visited the scene, later in the morning, saw how scavengers were dismantling their abandoned vehicle after it was set on fire.
He was told that the remains of the suspected robber were taken to the Kubwa hospital morgue by the policemen, after they were alerted on the incident.
Spokeswoman for the FCT Police Command, Josephine Adeh, a Superintendent, could not be reached for comment on the incident.
[DailyTrust]
Oil marketers have renewed their interest in purchasing refined petroleum products from the Dangote Petroleum Refinery, a $20 billion facility, following a recent statement by Aliko Dangote, President of Dangote Group.
That Dangote had highlighted that despite the refinery’s production, oil marketers and the Nigerian National Petroleum Company Limited (NNPCL) were continuing to import fuel rather than sourcing it locally.
Expressing his concerns after a meeting with President Bola Tinubu, Dangote called on NNPCL and marketers to stop importing and start purchasing directly from his refinery. “We have the products they need,” he emphasized, urging them to step forward.
In response, representatives from the Petroleum Retail Outlet Owners Association of Nigeria (PETROAN) and the Independent Petroleum Marketers Association of Nigeria (IPMAN) have stated their willingness to purchase directly from Dangote’s refinery.
PETROAN President, Billy Gillis-Harry, mentioned that the association had reached out to the refinery, seeking a business meeting to establish buying terms and logistics.
However, PETROAN claims that despite their efforts to arrange a formal meeting, the refinery has yet to finalize discussions, leaving marketers without access to purchase.
“We’re ready to patronize Dangote,” Gillis-Harry told The PUNCH, but noted they need a formal agreement to proceed.
Abubakar Maigandi, National President of IPMAN, expressed similar frustrations. He stated that despite paying N40 billion through NNPCL for fuel from the refinery, members encountered delays when attempting to load products, with some trucks waiting as long as four days.
Dangote has indicated the refinery’s capability to meet local demand, stating that it has sufficient reserves to supply the country for over 12 days without imports.
Yet, IPMAN insists that direct engagement with independent marketers would help streamline access and avoid such delays.
Meanwhile, it has been disclosed that Dangote refinery is currently prioritizing sales to marketers with import licenses, likely due to the facility’s location within a free trade zone.
Marketers without these licenses, including IPMAN members, are awaiting approvals from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to begin their own direct purchases.
IPMAN’s Vice President, Hammed Fashola, stated that their license application process is ongoing, with all necessary documents for storage capacity submitted.
Once the import license is granted, Fashola assured that IPMAN would disclose additional operational details to the public.
Rivers State Governor, Siminalayi Fubara, on Wednesday, expressed his indifference towards the Federal High Court’s decision stopping the Central Bank of Nigeria’s, CBN, from releasing state allocations.
This is as the governor said his approach to the crisis, in adherence to the intervention of President Bola Tinubu, empowered his opponents.
While Governor Fubara expressed no regrets for seeking peace, he acknowledged that this approach may have inadvertently empowered his opponents.
Justice Joyce Abdulmalik of the Federal High Court in Abuja issued a ruling on Wednesday halting the CBN from releasing monthly financial allocations to the Rivers State Government.
The ruling cited a violation of the 1999 Constitution regarding the presentation of the 2024 budget before a four-member Rivers State House of Assembly.
Justice Abdulmalik stated that the disbursement of monthly allocations by Governor Fubara since January of this year constituted a breach of the Constitution.
Speaking during a special thanksgiving service aimed at celebrating his administration’s resilience amid recent political turmoil, including an arson attack on the State House of Assembly on October 29, 2023, Fubara assured Rivers people that his administration would continue to disburse payments to contractors and ensure timely salary payments to workers starting tomorrow (on Thursday).
Governor Fubara confirmed that allocations for the 23 Council Chairmen would also be processed, as the Joint Accounts Allocation Committee, JAAC, procedures have been finalized.
He encouraged his supporters to maintain their resilience, emphasizing that challenges can be overcome.
Reflecting on his administration’s achievements, Governor Fubara noted that despite initial skepticism regarding the longevity of his government, he has successfully led for over a year, conducted local government elections, and maintained a full cabinet despite attempts to destabilize his leadership.
He highlighted ongoing projects throughout the state, countering criticisms regarding his administration’s capacity to deliver.
Fubara referenced recent accolades positioning Rivers State as a leader in financial accountability and transparency.
In recounting the violent incident from October 30 of the previous year, characterized by the governor as an assassination attempt, Fubara attributed the assault to political adversaries who allegedly ambushed him following a legal withdrawal related to the Martin Amaewhule group, a decision influenced by an intervention from President Bola Tinubu.
While Governor Fubara expressed no regrets for seeking peace, he acknowledged that this approach may have inadvertently empowered his opponents.
[DailyPost]
The Economic and Financial Crimes Commission (EFCC) has detained the Managing Director of Atlantic International Refinery and Petrochemical Limited, Akintoye Akindele.
The MD was arrested over alleged misappropriation, money laundering and diversion of public funds to the tune of $35m.
Sources who spoke to Punch disclosed that the Nigeria Content Development and Monitoring Board was said to have paid $35m to Akindele to build a 2,000 barrel-per-day refinery, jetty, gas plant, power plant, data centre and tank farm at Brass Free Trade Zone, Okpoama Community in Brass Local Government Area of Bayelsa State.
However, after receiving the money in December 2020, Akindele was accused of abandoning the projects.
One of the sources said, “Akindele, a promoter of the Energy Infrastructure Park financed by the Nigeria Content Development and Monitoring Board, in Okpoama community in Brass LGA of Bayelsa state, initially mooted the idea of the project to the board and the NCDMB embraced it with a counterpart funding to the tune of $35m.
“NCDMB allegedly paid $35m to Akindele to build a 2,000bpd refinery, jetty, gas plant, power plant, data centre and tank farm at Brass Free Trade Zone, Okpoama Community in Brass LGA of Bayelsa State.
“Since December 2020 when the payments were made, Akindele allegedly abandoned the project with little or nothing to show for the huge sum paid to him.”
Another source said Akindele allegedly received the money through the Atlantic International Refinery and Petrochemical Limited and sent it to four of his companies.
The source said, “Akindele received the funds through the bank account of Atlantic International Refinery and Petrochemical Limited and funnelled the funds into four of his companies: Platform Capital Investment Partners, Duport Midstream Company Ltd., Puissance Afrique Dynamics Ltd, Adamantine Petrochemical & Refinery Ltd and Bureau de Change outlets.
“The EFCC has been on a manhunt for him for several months until he finally showed up when he could no longer bear the fire on him. He was thereafter arrested and detained at the commission’s holding facility in Abuja.”
Last Wednesday, President Bola Ahmed Tinubu dismissed five ministers from his cabinet to reposition the National Executive Council (NEC) for effective service delivery. Among the sacked ministers was the erstwhile Education Minister Prof. Tahir Mamman.
Many saw Mamman’s sack as a shock, particularly after his efforts toward the setting up of a committee to look into the outstanding issues affecting the Academic Staff Union of Universities (ASUU) 2009 agreement among other pending demands.
However, the erstwhile minister’s 18-year minimum age policy for university admission drew the ire of many stakeholders, including parents. Observers reckoned that he should have made wide and open consultations before jumping to announce policy.
In a move to justify the decision, Mamman argued that the ministry was emphasising the age requirement for entry into tertiary institutions as outlined in the National Policy on Education, the Universal Basic Education Commission (UBEC) Act, and the Education (Minimum) Standards Act 1993, and not the age for participating in West African Examinations Council (WAEC), National Examinations Council (NECO), National Business and Technical Examinations Board (NABTEB) or any ordinary level examinations.
“However, the ministry acknowledges that some children are exceptionally intelligent and the ministry will work out a guideline to deal with cases of genuine exceptionally intelligent learners,” he added.
A contentious policy: to be or not to be?
Despite the clarification and what seemed a justification, the policy generated intense outrage, even as critics believe that contributed mainly to his exit. On whether the policy will be retained, stakeholders argued that government should decide that, while others hold that it is dead on arrival.
Speaking on the contentious policy, Vice Chancellor, African School of Economics (the Pan-African University of Excellence), Abuja, Prof. Mahfouz Adedimeji, posited that whether the policy stays or not, it is within the purview of the policy makers, adding that policies are to be critically examined and retained or revised as deemed fit.
While giving an assessment of the minister’s tenure, Adedimeji said he did his best, particularly with the DOTS, an acronym for Data Repository, Out-of-School Children Education, Teacher Training and Development, and Skill Development and Acquisition, policy and the renewed emphasis on skills acquisition.
Adedimeji said: “While I understand the thinking behind the policy, my opinion is that 16 years should have been enforced as the minimum age for admission to universities. This is because we have a situation in which those who are below 16 are being admitted. That would have been better and that is why the revised policy allowing candidates who are to be 16 by next year to be admitted this academic session resonates with many Nigerians.
“I think whether the policy stays or not is within the purview of the policy-makers and my own is to suggest that we implement the erstwhile 16 years first. The expected thing is that policies are to be critically examined and retained or revised as deemed fit.
“My assessment is that the former minister did his best. He is a tall intellectual figure as he combines the highest academic title with the highest professional title in law. I like the DOTS policy of his administration and the renewed emphasis on skills acquisition. I would score him A as he did his best and we appreciate his service.
‘‘For instance, the stance he took on the degree mills was commendable just as his efforts in taking the public universities out of the IPPIS payment system were laudable.”
Deputy National President, National Parent Teacher Association of Nigeria (NAPTAN), Chief Adeolu Ogunbanjo, noted that the policy cannot outlive the minister.
He said: “The policy still has to go through public hearing. The policy cannot stay. We will mobilise against it. Government cannot continue with the policy; that was what consumed him. All those policies he was trying to introduce. Education is now becoming expensive… To assess the minister, it is below average. The 16-year policy should be allowed to stay. Let it be the choice of universities to decide the age to grant admission. We should stick to the 6-3-3-4 system. Now that he is fired, we don’t want such a policy anymore. It is educationally retrogressive for Nigerian students and parents.”
For Academic Staff Union of Universities (ASUU) Chairman, University of Lagos (UNILAG) branch, Prof. Kayode Adebayo, the government will decide if it wants to stick with the policy or discard it. He added that the minister was not given ample time to prove his mettle. Adebayo hailed the minister for setting up a committee to look into several lingering issues, including renegotiation of the 2009 agreement with the Federal Government.
He said: “The minister was not given sufficient time to display his quality and prove himself. He tried his best. He was a positive minister. Concerning the 18 years admission age, did he do something wrong? I don’t know how that became an offence. The government knows what to do concerning the policy. Who is an adult in Nigerian constitution?
“He started well; he started to hit the ground running, but part of the criticism against him is that how will he just announce that universities should not admit students who are not up to 18 years. Critics said he should have told the President before taking the decision. He did the little he could do. He started something that would give us hope; that shows light at the end of the tunnel. One of the main reasons he was removed was because of the policy. He set up a committee for the ASUU renegotiation of the 2009 agreement. He was sacked the day the committee was to have its inaugural meeting. He didn’t have the opportunity to sit and negotiate with the group. He was performing, and still did the needful within the system.
National Association of Nigerian Students (NANS) Southwest Coordinator, Comr. Owolewa Taiwo, noted that the initial policy of no admission for under-18 students would have disenfranchised many students who had already written their examinations. He added that Mamman’s later reversal of this policy, specifically for the 2024 admissions, showed that he was willing to listen to feedback and make adjustments.
“The policy of no admission for under-18 students was actually reversed by Tahir Mamman, the former Education Minister, after facing backlash from stakeholders. Initially, he had announced that candidates seeking admission into higher institutions must be 18 and above. However, this decision was met with strong opposition from stakeholders, including Vice Chancellors and Rectors, who argued that it would force students below 18 years to stay at home for two to three more years.
“Later, Mamman changed the minimum age for admissions into tertiary institutions from 18 to 16 years, specifically for the 2024 admissions. He also set a minimum tolerance score of 140 for admissions into universities and 100 for polytechnics and colleges of education.
“As for how NANS would assess Mamman’s tenure, it’s likely that his policy decisions would be viewed as inconsistent and potentially harmful to students. The initial policy of no admission for under-18 students would have disenfranchised many students, who had already written their exams. However, Mamman’s later reversal of this policy shows that he was willing to listen to feedback and make adjustments.
Overall, NANS may view Mamman’s tenure as marked by controversy and inconsistency, but also a willingness to adapt to feedback,” he said.
Why the sack was inevitable
Nevertheless, a group, Education for Accelerated Development (EDAD) in a statement by its National Coordinator, Dr. Livinus Mbaonu, assessed the former minister’s era, and highlighted reasons the minister was sacked.
The statement read: “Tahir’s statements led to a diplomatic misunderstanding between Nigeria, Benin Republic, and Togo, resulting in the suspension of degree programmes from universities in these countries.
“He wrongly claimed that only three universities in Benin were accredited, while the actual number is over 50, causing confusion about the legitimacy of these institutions.
“His unprofessional handling of foreign students’ participation in the NYSC scheme caused thousands of Nigerian graduates from Benin and Togo to be denied entry into the programme and the Ministry of Education’s failure to address the needs of stranded foreign students, whose scholarships are unpaid or delayed leads to significant challenges.
“The former minister’s implementation of an 18-year minimum age policy for university admissions resulted in a lawsuit against the ministry, as many saw it as restrictive and discriminatory.
“Mamman declared that Nigerians who had obtained certificates from universities in Benin and Togo would be sacked from public service and prosecuted.
“The former minister claimed that the Federal Government would pay stipends to all unemployed graduates in Nigeria, a promise that was not part of the government’s agenda and created false expectations.”
Enter new ministers
The duo of Tunji Alausa and Suwaiba Ahmad were announced as the new Minister of Education and the Minister of State for Education respectively.
Mr. Alausa, the new education minister, is a successful medical doctor. He bagged a Bachelor’s degree in Medicine and Surgery from the University of Lagos in 1993. He practised as a Nephrologist in the United States for many years. He served as Chief Medical Resident at Cook County Hospital, Chicago, Illinois. He was also an Assistant Professor at the Rush University Medical School.
Alausa was named one of America’s Best Physicians in 2007, 2012 and 2020. Before his latest appointment as education minister, he served as the Minister of State for Health and Social Welfare.
He hails from Epe, Lagos State, and is a personal physician to President Tinubu.
Ms Ahmad, an associate professor of education, has extensive experience in the sector. She earned her Bachelor’s degree in Education and Chemistry from Bayero University, Kano (BUK) in 2003 and her Master of Education in Curriculum Studies from the same university in 2009. Ms Ahmad also obtained her doctorate in Science Education from Ahmadu Bello University in 2014.
She has worked as an academic staff at the Bayero University Kano since 2004. She is also an associate of the Policy Practice, an organisation working on political economy analysis on governance, conflict and fragility, economic and social development.
She was also the Director of the Centre for Gender Studies at BUK, a position she assumed in 2020. She was the consultant for the state-level situation report for Jigawa State and part of Kano State on the Partnership for Learning for All in Nigeria (PLANE), a seven-year education programme funded by the United Kingdom Foreign, Commonwealth and Development Office (FCDO).
She was also the consultant for Jigawa State for Partnership to Engage, Reform and Learn (PERL) flagship, another FCDO-sponsored programme on core governance reforms and service delivery improvements in the country.
[TheNation]
As Nigerians continue to grapple with the economic hardship resulting from record high inflation and the devastating impact of the economic reforms on their lives, the Nigeria Labour Congress (NLC) yesterday said it may be forced to demand from the federal government another review of the pay package of workers.
NLC President Joe Ajaero who disclosed this at the 8th Quadrennial Delegates Conference of the National Association of Nigeria Nurses And Midwives (NANNM), also said that organised labour will insist that government keeps to it’s promise to re-commission the Port Harcourt, Warri and Kaduna refineries.
Ajaero lamented the rising cost of living in the country and the burden the average Nigerian has had to bear in carrying on with their daily lives.
He said: “As it is today, our choices are very limited. It is either we find a way to collectively overcome the forces that are bent on keeping us down as a people or we completely surrender to them while wringing our hands in hopelessness.
“The forces of neoliberalism must be challenged and the trade union movement remains the only viable force in Nigeria and in the world that can creatively engage it and mitigate its stranglehold on our nation.
“We must offer strong counterpoise to their prebendal logic and must proffer newer arguments to triumph over their quest for profit at the detriment of the social will. It is only by remaining strong and united that we can hope to achieve that,” he said.
The NLC president said that Nigerians cannot continue to suffer the vagaries of international oil market prices by sustaining the import of refined petroleum products whereas local refineries remain shut.
“It is sad, but we cannot afford to keep our public refineries shut while still importing refined petroleum products. We demand a review of our salaries in lieu of its eroded values.
‘’We must together demand the re-commissioning of Port Harcourt, Warri and Kaduna refineries in keeping with the agreement we had with the federal government on the 5th day of October, 2023,” he added.
Ajaero advised the new leadership of the Nurses association to make protection of the members welfare a priority.
“We therefore counsel the leadership that will emerge today, remember that your role is critical to securing the welfare of our healthcare workers. True leadership transcends titles and positions; it is reflected in the impact you have on the lives of those you serve.
“Advocating for fair working conditions, championing healthcare workers’ rights, and striving for equity are not just duties—they are the marks of meaningful leadership,” he said.
Former governor of Edo State, Comrade Adams Oshiomhole, has criticised wage exploitation in Nigeria, warning that poor compensation negatively affects national security and economic productivity.
According to him, Nigerian workers are poorer now, despite the increase in the new minimum wage recently approved by the Federal Government.
Speaking at the Distinguished Personality Lecture organised by the National Institute for Security Studies, NISS, in Abuja yesterday, Oshiomhole highlighted how inadequate wages create a cycle of economic hardship, making workers vulnerable to manipulation and radicalization.
The lecture, titled “National Minimum Wage: Reward System and Productivity in Africa,” was part of the Executive Intelligence Management Course, EIMC 17, aimed at fostering a deeper understanding of the relationship among wages, security and productivity
Oshiomhole argued that fair wages were essential to boost workers’ motivation, efficiency, and overall economic growth.
The former Edo governor, now senator, representing Edo North senatorial district in the National Assembly, said: “Workers face fluctuating salaries and job insecurity, as employers can easily hire and fire employees.
“Despite paying union dues, workers often receive minimal support from trade unions, leading to questioning their effectiveness.
“Historically, the right to organise was suppressed, which limited workers’ ability to negotiate collectively. Industrial sabotage emerged as a form of protest against poor conditions.
“Collective bargaining and the right to strike are essential tools for negotiating fair wages and working conditions. Workers often resort to ‘work to rule’ when rights are restricted.
“Significant disparities exist between minimum and maximum wages across sectors, leading to dissatisfaction among workers. The wealthy often benefit from state protection, while the poor struggle.
“The minimum wage is designed to protect vulnerable workers but is often not enforced. Setting minimum wages too high can risk job losses while setting them too low can lead to exploitation.
“Inflation severely impacts purchasing power, making it difficult for workers to maintain a decent standard of living. Historical comparisons show that many workers are poorer now than in the past, despite nominal wage increases.”
The Director-General of the Department of State Services, DSS, Adeola Ajayi, echoed Oshiomhole’s concerns, noting that better wages reduce workers’ vulnerability to abuse and promote national stability.
In his remarks, Joseph Odama, Commandant of NISS, lauded Oshiomhole’s long-standing commitment to labour advocacy, emphasizing the importance of fair wages in ensuring sustainable development.
He said: “The national minimum wage is a pressing issue in our economic discourse today, affecting millions of Nigerians and influencing both individual lives and national productivity.
“A well-designed reward system can drive worker motivation, improve efficiency, and promote economic growth, while poorly structured policies can demoralize the workforce.
“To aim for a more equitable society, it is essential to understand the complex relationship between wages, rewards, and productivity.”
If There Is No Nigeria, There Will Be No Place For You To Govern – Ex-DSS Director Warn Politicians
AFOLABI
Former Department of State Services (DSS) Director, Mike Ejiofor has urged Nigerian politicians to put national interests above personal ambitions.
He warned that without a stable Nigeria, there would be no country to govern.
Ejiofor stated this during an interview with Arise News on Wednesday.
“Our politicians should note that if there is no Nigeria, there is no place for them to govern. They must put Nigeria first,” he urged.
Speaking further, Ejiofor addressed President Bola Tinubu’s recent directive to reduce VIP security costs and stressed the need for broader security reforms, including establishing state police, especially to address political issues fueling unrest in the South.
In response to President Tinubu’s directives, he said “I will look at it from two angles: the security aspect and cutting down costs. I don’t see how he is going to cut down cost except through the reduction of vehicles.”
“So, I think the president must have looked at the extra vehicles and considered them wasteful. Now, with the increase in fuel prices, putting so many vehicles on the road will increase costs.”
From a security perspective, Ejiofor supported limited personnel for ministers and MDAs but voiced concerns about the abuse of police escorts by individuals with “no means of livelihood.”
He said, “We have cases of people with questionable character being protected by multiple police officers,” and cited a recent incident involving Mascot Ikwechegh.
“He was boasting that he would ‘use the police with him and deal with a driver.’ Such dishonorable actions damage the image of law enforcement.”
Ejiofor noted that past directives to limit police escorts have been inconsistently implemented. “If you recall, the Inspector General of Police directed the withdrawal of these police details.
“Now, over 120,000 officers are deployed for VIP protection, which depletes the police force’s available manpower for general duties.
“A lot of people are using police to abuse innocent citizens, which is very unprofessional.”
•IPMAN, PETROAN eye refinery’s 500m PMS reserves, queues in Abuja after NNPCL’s price hike
Oil marketers have again written a letter to the Dangote Petroleum Refinery expressing their willingness to buy refined petroleum products from the $20bn plant.
They disclosed this on Wednesday following Tuesday’s remarks by the President of Dangote Group, Aliko Dangote, that marketers were not buying products from the Lekki-based facility.
Dangote faulted the continued importation of petrol by oil marketers and the Nigerian National Petroleum Company Limited despite the fact that the commodity was being produced by his refinery.
He raised the concern in Abuja on Tuesday after he was summoned by President Bola Tinubu, alongside the Minister of Finance, Wale Edun, and the Group Chief Executive Officer of NNPCL, Mele Kyari.
“I have a refinery. I’m not in the business of retail. If I’m in the business of retail then you can hold me responsible. But what I’m saying is that the retailers should please come forward and pick. If they don’t come forward and pick, what do you want me to do?
“So, I am expecting either the NNPCL or the marketers to stop importing; they should come and pick because we have what they need. And as they move, I will be pumping,” Dangote stated after the meeting with the President in Abuja.
Responding to this on Wednesday, oil dealers under the aegis of the Petroleum Retail Outlet Owners Association of Nigeria and their counterparts in the Independent Petroleum Marketers Association of Nigeria said they were willing to buy petrol from Dangote.
They specifically stated that they had approached the refinery a couple of times to express the interest of their members in lifting refined products from the plant.
“We have listened to him (Dangote) and as far as I’m concerned what he said is very strange to my hearing. PETROAN had written to him since 2022, we wanted to have a business meeting with him and understand the business dynamics,” PETROAN President, Billy Gillis-Harry, told one of our correspondents.
He added, “I sent the same letter to him (Dangote) today (Wednesday) to ask for a meeting, so, we can determine the modality of business. We cannot drive our tankers into the Dangote refinery to start buying products just like that. We must have a business meeting to determine the modalities, make our inputs and compare notes.
“We are willing to patronise Dangote but cannot do it in the air. We have to sit down and have a productive business meeting with him that is transparent enough. That is the challenge. So, we are willing but we can’t just fly into the plant and start loading products.”
Asked what was the response of the refinery, Gillis-Harry replied, “Up till this moment, there has never been any positive response, rather, all we get from them is that they repeatedly say to us that ‘we will meet.’ But we never met. So, at what point are we going to meet and conclude the business? Let Nigerians know that PETROAN is willing to buy from him.
“If he has 500 million litres, we are willing to be one of the off-takers, for with the size of our membership and retailers scattered across the country, we are a very productive business mix that should be good for him. So, he also has the job to woo us and to get us to work with him.”
Gillis-Harry said petrol retailers were awaiting the plant to fix a date for both parties to meet.
Also, speaking on the matter, the National President of IPMAN, Abubakar Maigandi, raised concerns over difficulties faced by IPMAN members in accessing fuel at the Dangote refinery despite a N40bn payment made through NNPCL.
Maigandi stated that despite NNPCL’s directive that IPMAN members pick up fuel at the Lagos-based refinery, some marketers waited with their trucks for four days without being able to load any product.
He expressed surprise at Dangote’s statement on Tuesday, claiming the refinery had 500 million litres of petrol in stock and ready to supply the nation.
“If the refinery truly has 500 million litres, then there should be no reason our members couldn’t load after four days. We are willing to buy the product directly if the refinery is ready to sell to us, but for now, our members can’t access, it even after paying,” Maigandi said while speaking on Channels TV’s Sunrise Daily on Wednesday.
The refinery, touted as Africa’s largest, reportedly can produce over 30 million litres of fuel daily at full capacity.
Dangote, during Tuesday’s visit to Tinubu, reassured that the facility was prepared to meet local demands,emphasising that the stock in reserve could sustain the country for over 12 days without imports.
However, Maigandi countered Dangote’s claims, pointing out that IPMAN members were yet to successfully load fuel from the refinery through the NNPCL arrangement, despite their readiness to purchase directly.
He added, “Instead of routing through NNPCL, Dangote should consider registering independent marketers directly. This would simplify the process and prevent such delays in accessing the product.”
Import licences
Meanwhile, some marketers revealed on Wednesday that Dangote refinery was currently selling its petrol to dealers with import licences.
The marketers told The PUNCH that the refinery, situated at the free trade zone in Lekki, Lagos State, is currently prioritising marketers with valid import licences even as plans were underway to start selling to other marketers soon.
After battling crude shortages for months, the refinery unveiled its petrol in early September and began selling to the NNPCL on September 15 as its sole off-taker.
However, following the Federal Government’s directive that all marketers could approach the refinery for PMS lifting without waiting for the NNPC, willing marketers said they had indicated interest in buying petrol from the $20bn refinery.
Officials of the refinery told one of our correspondents that the direct sale of PMS had begun without recourse to the Nigerian National Petroleum Company Limited.
This came barely a week after some marketers said their demand to lift fuel was halted by the existing agreement between the refinery and the NNPCL.
Speaking with our correspondent, some operators, who were yet to start business with the refinery, said officials had assured them of their cooperation.
The sources said the supply of PMS was being done in different categories, and those who had licences from the Nigerian Midstream and Downstream Petroleum Regulatory Authority to import petrol were the first set of marketers that were being attended to.
“Dangote refinery is selling to those who have import licences. They are the first set of customers. We don’t know the reason, but it may be because the refinery is in a free trade zone,” a marketer, who spoke on condition of anonymity because he was not authorised to speak on the matter, stated.
Earlier in an interview with The PUNCH, the National Vice President of IPMAN, Hammed Fashola, said this explained why IPMAN was making efforts to get its import licence from the Nigerian Midstream and Downstream Petroleum Regulatory Authority.
He also alluded to the opinion that this might be because the refinery was located in a free trade zone.
“Yes, I heard it too, they (Dangote) have started selling to some marketers. They categorised it. There are some marketers with import licences. Those are the people that they are attending to right now.
“And that’s why we are trying as much as possible to get our import licence too. So, I think very soon they will start dealing with the small ones. I don’t know how they came about that idea. I think it depends on the directive given to them, according to them. And we believe that they will soon start with the other marketers. Maybe it’s because that place is a free trade zone,” he said.
Fashola said he could not confirm whether or not the product was being sold in naira to those with import licences.
“I don’t want to say something that I cannot really confirm or that I’m not sure of,” he added.
Fashola disclosed that the association’s application for an import licence was still being processed by the NMDPRA.
“We are still on the import licence. We are seriously working on that. There is no way that it will not take the official time. There are things that we had to submit. You have to meet some terms and conditions to have it granted. So, we are trying to do that,” he said.
However, Fashola refused to state some of the conditions.
“I don’t need to mention that to the media,” he insisted.
For importation, Fashola said the association had enough storage capacity with tank farms in Calabar and Lagos.
“We have enough storage capacity. You know, I said the other time that I don’t want to discuss our capacity. But all those documents related to capacity have been submitted. And when we get what we want, we will disclose everything to the public,” he stated.
Expert speaks
An energy expert, Professor Emeritus, Wumi Iledare, said though he would not know whether or not the refinery was selling to marketers with import licenses, this could be because of the location of the facility.
However, he advised that the government should give a waiver to Dangote so that the refinery would be able to sell to local marketers without, hindrance if that was the case.
“We recognise Dangote is in a free trade zone. So, if you want to buy something like that, unless there is a waiver, it is going to be like an import. But because of the arrangement with the Federal Government, this may be different. The Petroleum Industry Act allows for willing-buyer, willing-seller arrangements.
“As the marketers are seeking Dangote out, Dangote should be seeking them out too. The marketers know the landing cost and this will allow them to negotiate with Dangote. Import is the alternative, otherwise, Dangote will become a monopoly,” Iledare stated.
The Don maintained that the Dangote refinery was not a domestic refinery but an offshore refinery in the sense that it was located in a free trade zone.
“That is why Ghana, Senegal, Cameroon, and others are eager to buy from Dangote. The Nigerian marketers are actually competing with other other countries looking to buy from Dangote. The government has to grant a waiver to Dangote to sell to the domestic market. That is why NNPC should have taken an equity whereby products from Dangote will be for their domestic market, but they didn’t do that.
“Dangote should be granted waivers to sell to the domestic market if that is the issue. The government should look at this from the consumers’ point of view without jeopardising the investors from making money,” he noted.
41.7 million litres
The Nigerian Ports Authority said two vessels carrying a total of 41,705,100 litres of petrol arrived in Lagos through the Tincan Island Ports on Wednesday.
The NPA disclosed this in the Wednesday edition of its ‘Daily Shipping Position’ sighted by The PUNCH.
Earlier, The PUNCH reported that a vessel with 20,115,000 litres of PMS was discharging at the Kirikiri Lighter Ports Phase 2 on Wednesday but a second check at the report showed that another vessel with 21,590,100 litres of the product was discharging at the Kirikiri Phase 3, Tincan Island Port the same day.
The document also showed that a vessel carrying 20,000 metric tonnes of AGO (diesel), discharged at the same terminal on Tuesday.
According to the document, aside from the vessel coming with 250 units of used vehicles on Saturday at Five Star Logistics, another vessel with 500 units of used vehicles would also be berthing at the Tincan Island Container Terminal the same day.
The document showed that a total of 12 vessels carrying different consignments, including butane gas, AGO and containers among others, are expected to berth between Monday, October 28, and Friday, November 8, 2024.
Meanwhile, it was recently reported that the Dangote refinery was not able to meet its commitment to the NNPC in the supply of PMS.
There were claims in the media that out of the 400 million litres of petrol that the refinery ought to supply in September, only 103 million litres were delivered.
It was also claimed that in October, Dangote supplied 214 million litres to the NNPC instead of 665 million litres, resulting in a shortfall of 78 per cent.
The reports added that from September 15 to October 20, only 317 million litres of PMS had been supplied out of a total commitment of 1.065 billion litres of petrol.
Meanwhile, following the NNPCL’s increase of petrol across the country on Tuesday, long queues were seen at its retail outlets in Lagos and Abuja on Wednesday.
The national oil firm raised the retail price of petrol in Abuja to N1,060 from N1,030 per litre, while in Lagos, it increased the unit price of the commodity from N998 to N1,025 per litre, which received widespread criticisms from the Organised Private Sector, Civil Society Organisations and Nigerians in general.
Experts and key followers of the Nigerian oil and gas sector fear inflation in the country may further skyrocket following the latest hike, after it rose to a 28-year high (34.2 per cent) in June, which could compound the hardship in the country.
[Punch]
More...
Organised Labour said yesterday the latest hike in the pump price of petrol was pushing Nigerians to the limit.
It also warned the Federal Government against what it described as a surprised and unexpected reaction of the people to the frequent hike in the price of the product.
Labour equally advised the government to be wary of the silence of Nigerians in the midst of excruciating hardship and misery being inflicted on them, saying even a goat can bite when pushed to the wall.
This is even as an employer group, the Chemical and Non-Metallic Products Employer’s Federation, CANMPEF, said the petrol price increases, occasioned by subsidy removal, had led to an increase in transportation/logistics, production costs, the decline in household income and purchasing power.
Labour’s warning came on a day the Independent Petroleum Marketers Association of Nigeria, IPMAN, said its members wait for days to load petrol from Dangote Refinery in Lagos, despite paying N40 billion to the Nigerian National Petroleum Company Limited, NNPCL.
It also said Nigerians can pay less for the product if marketers were allowed to buy directly from the refinery.
One of the labour leaders, who attended the October 16 meeting with the Federal Government at the office of the Secretary to the Government of Federation, SGF, told Vanguard on condition of anonymity that government officials are gradually pushing the masses to revolt against the establishment.
He said: “We had thought that the Federal Government will halt the incessant increase in the pump price of petrol after our October 16 meeting, where we made the government representatives, led by the Secretary to the Government of the Federation understand the level of frustration, hunger, misery and general restiveness across the country.
‘’Sincerely, we thought the government would give the people a breathing space and suspend the increases. The government is testing the patience of Nigerians. I can tell you that government is pushing the citizens to a boiling point.
“This latest increase yesterday (Tuesday, October 29) is one increase too many and a bitter pill to swallow. The increases are pushing the citizens to the limit.
“Government should not be surprised if the people of Nigeria decide to react in an unexpected way that will shock those in government. The people are really angry, frustrated, hopeless and are moving to a point where they may vent their anger in an unusual way that may be difficult to curtail.
‘’You cannot continue to flog a child and tell him not to cry. Hunger is everywhere, apart from the people in power or their friends and relations.
“The frustration and suffering in the country were also highlighted a few days ago during the meeting of the 19 Northern governors, alongside traditional rulers, among others. Across the country, people are just waiting for something to ignite the fire.
“Increasingly, the government is providing the fuel that will ignite the fire. What is probably left is someone to light the matches. We (Labour) have been urging the government to jettison the anti-people policies and lessen the pain, suffering, hunger, poverty and frustration to no avail.
“We have been cautious, thinking the government will allow common sense, empathy and the reality of the mass suffering of the citizens to drive its actions and inactions. Unfortunately, the reverse has been the case. It is getting to the time when the bubble will burst. Even a goat can bite when pushed to the wall.
Our choices limited
Similarly, addressing the 8th Quadrennial Delegates’ Conference of the National Association of Nigeria Nurses and Midwives, NANNM, yesterday in Abuja, President of Nigeria Labour Congress, NLC, Joe Ajaero, said: “Today, the nation’s macro-economic indices are all heading down south without any letting.
Electricity tariffs have gone up, making power almost inaccessible to a greater number of our citizens.
“Petrol prices have gone through the roof and are nearly impossible for an average Nigerian to afford.
Transportation has become difficult, leading to levels of food scarcity and hunger never seen in the country before now.
‘’That unfortunately has become our lot and that has become what majority of Nigerians look up to us to ameliorate.
“We need your unity and your strength if we are to creatively engage these forces and make governance work for the greater number of workers and people. As it is today, our choices are very limited. It is either we find a way to collectively overcome the forces that are bent on keeping us down as a people or we completely surrender to them and wallow in hopelessness.
“The forces of neo-liberalism must be challenged and the trade union movement remains the only viable force in Nigeria and in the world that can creatively engage it and mitigate its stranglehold on our nation.
“We must offer strong counterpoise to their prebendal logic and proffer newer arguments to triumph over their quest for profit at the detriment of the social will. It is only by remaining strong and united that we can hope to achieve that.
‘’It is sad but we cannot afford to keep our public refineries shut while still importing refined petroleum products. We demand a review of our salaries instead of its eroded values. We must together demand the re-commissioning of Port Harcourt, Warri and Kaduna refineries in keeping with the agreement we had with the Federal Government on October 15, 2023.”
Employers’ group laments
Speaking in a similar vein, the Chemical and Non-Metallic Products Employer’s Federation, CANMPEF, an employer group, said the petrol price increases occasioned by subsidy removal had led to an increase in transportation/logistics and production costs and a decline in household income and purchasing power.
Addressing members and guests at the 45th Annual General Meeting, AGM, of CANMPEF in Lagos yesterday, the President of the employers’ federation, Mr Devakumar Edwin, lamented: “Following the liberalization of the foreign exchange (FX) market, PMS importers are embattled with looming scarcity and sourcing challenges of FX which continues to increase the selling cost of PMS.
‘’The price adjustments led to an increase in transportation/logistics, production costs, decline in household income and purchasing power.
“There is optimism surrounding the possibility of an energy transition that will reduce the industry’s dependence on expensive diesel and PMS. However, significant investments are required to make renewable energy viable for manufacturing operations.’’
According to him, the spillover of the increases in the petrol price, and floating of the naira has worsened the crises facing the manufacturing sector of the nation’s economy.
“For the manufacturing sector to reach its full potential, government’s intervention is critical. If priority attention is given to manufacturing as a strategic value-adding sector, capable of driving economic transformation, then the country can earn its position among industrialized nations.
“To unlock the potential of Nigeria’s manufacturing sector, the government must commit to the following investments: History has shown that protectionist policies can have a profound impact on local industries.
‘’A notable example is Nigeria’s 2007 cement policy, which restricted imports by companies without local manufacturing investments.
‘’In just 15 years following the policy, cement production in Nigeria grew from 7 million metric tonnes to over 60 million metric tonnes per annum. Expanding such policies to sectors like agriculture, petrochemicals, basic chemicals, electronics, and tools manufacturing could set Nigeria on the path to becoming an industrial giant.
“Declare a state of emergency in the manufacturing sector: The sector requires immediate attention, and this can be achieved through policies that promote growth, investment, and innovation. A clear declaration of urgency by the government would demonstrate its commitment to revitalizing the sector.
“Subsidise consumption through manufacturing: By offering tax reliefs and removing tariffs on key agricultural and manufacturing inputs, the government can reduce operational costs and encourage growth.
‘’These subsidies will also have a profound impact on job creation, especially for Nigeria’s youth, who will be gainfully employed in productive industries. The social and security benefits of such a move are immeasurable and far reaching.
‘’Create a favorable business environment: Ensuring ease of doing business is essential for long-term sustainability in the manufacturing sector. This requires a combination of administrative and legal reforms to eradicate bureaucratic barriers and other inefficiencies that hinder industrial growth.”
Marketers spend days at Dangote Refinery, buying through NNPCL — IPMAN
Meanwhile, the Independent Petroleum Marketers Association of Nigeria, IPMAN, said yesterday the price of petrol could reduce, if its members wwere allowed to buy petrol directly from Dangore Refinery.
IPMAN President, Abubakar Garima, who disclosed this in an interview on Channels Television’s Sunrise Daily programme, also said his members could hardly load petrol from Dangote Refinery in Lagos, despite paying N40 billion to the Nigerian National Petroleum Company Limited, NNPCL.
He expressed surprise that the owner of the refinery, Aliko Dangote, said marketers are boycotting his refinery to buy imported petrol.
The IPMAN boss said his members are not importing petrol, as claimed by Dangote, adding that rather than get Dangote petrol through the NNPCL, the private refinery should register independent petrol marketers directly for smooth loading of the product.
“If he (Dangote) can be able to sell the product to us directly, we can buy it because we have to pay before we pick. Currently, we have N40 billion with the NNPCL but we cannot source the product.
“Just of recent, there are some of my marketers that NNPCL sent to load in Dangote refinery and those marketers stayed there with their trucks for four days, and they cannot load.”
Recall that Dangote had after at a meeting with President Bola Tinubu in Abuja on Tuesday, told reporters that he had over 500 million litres in tanks in his refinery but lamented that marketers are not patronising his facility.
However, Garima said IPMAN, with over 20,000 members in Nigeria, had N 40 billion upfront payment with the NNPCL and still couldn’t load petrol from the refinery.
He said Nigerians will see a reduction in the pump price of petrol if Dangote Refinery allowed independent marketers lift the product directly like NNPCL.
Check your price’
The IPMAN president also urged Dangote to check the price of his commodity if marketers importing petrol are boycotting his product. “Since he (Dangote) says marketers are not buying his product, he should check his price properly. Is it higher than what they are obtaining outside or is it the same rate?
‘’Then if marketers buy this product through him, how long will it take for it to reach their depots? That one too is a factor,” Garima stated.
The IPMAN president said there was nothing wrong if marketers outside his organisation decided to sell imported products but insisted that Dangote should review its price.
‘Nigerians are losing confidence in judiciary’ — Atiku faults order halting financial allocation to Rivers
Admin
Former Vice President Atiku Abubakar has faulted the court order barring financial allocation to Rivers state.
On Wednesday, a federal high court in Abuja restrained the Central Bank of Nigeria (CBN) from further disbursing financial allocations to the Rivers state government.
Joyce Abdulmalik, the presiding judge, ruled that funds from the federation account should not be released to the state pending the passage of a lawful appropriation act by a validly constituted house of assembly.
The suit was filed by Martins Amaewhule-led Rivers state house of assembly.
Abdulmalik held that Siminalayi Fubara, the Rivers state governor, erred in presenting the 2024 Appropriation Bill to a “not properly constituted” five-member assembly.
Reacting in a statement on Wednesday by Paul Ibe, his media adviser, Abubakar warned that the judiciary’s actions could “destabilise” Rivers state.
He said it was appalling that “elements loyal to the federal government were pulling strings” from behind.
He questioned Abdulmalik’s decision to issue an injunction while Rivers state’s legal challenge was still underway at the court of appeal.
“Last week the Court of Appeal declared that the Rivers State budget was illegal because it was passed by an inchoate assembly,” the statement reads.
“The court ordered Governor Siminalayi Fubara to present the budget afresh — the Rivers State Government has already filed a notice of appeal so that the Supreme Court can hear the matter.
“However, some elements in the Bola Tinubu administration have procured a judgement intended to undermine the Supreme Court.
“Even before the judgment was delivered, legal luminary, Femi Falana (SAN) had alerted the Chief Justice of the Federal High Court, Justice John Tsoho of possible compromise after house gifts had been presented to judges in Abuja. Sadly, Falana’s warning was ignored.”
Atiku said the country has “descended into the theatre of the absurd” since President Bola Tinubu administration took office.
He added that the “courts play a more ignoble role in fostering political crises within political parties and even in states.”
“From the emirship tussle in Kano State to the Rivers imbroglio where courts are going as far as preventing elections from holding, taking Nigeria back to the dark days of June 12, 1993 where polls were annulled,” he said.
“Sadly, under the leadership of those who claim to have fought for Nigeria’s democracy, the country is descending into chaos with conflicting orders from courts of coordinate jurisdiction flying all over the place while judges are being induced in the name of empowerment and provision of houses.
“The result is that Nigerians are gradually losing confidence in an institution which prides itself as the last hope of the common man.
“Foreign investors will avoid any place where judgments can be bought by the highest bidder.
“Nigeria should not descend to the Hobessian state of nature where life is short, nasty and brutish, where citizens opt for self-help. Rivers State accounts for almost 25% of Nigeria’s oil assets.
“For a country facing an economic crisis worsened by vandalism and banditry, Tinubu should put his 2027 ambition aside and put Nigeria’s interest first.”
Atiku, however, commended Kudirat Kekere-Ekun, the chief justice of Nigeria (CJN), for summoning judges handling Rivers state cases.
He asked the CJN to discipline errant judges to restore the judiciary’s integrity.
BACKGROUND
In December 2023, Fubara presented an N800 billion budget estimate to the Edison Ehie-led faction of the house of assembly.
The presentation of the budget titled: ‘Budget of Renewed Hope, Consolidation and Continuity’, took place at the government house.
In July, the Rivers house of assembly and Amaewhule, the factional speaker, instituted the suit marked: FHC/ABJ/CS/984/24 against the CBN and nine others.
The assembly has been polarised following the rift between Fubara and Nyesom Wike, minister of the federal capital territory (FCT).
The Amaewhule-led faction of the legislature is loyal to Wike.
The plaintiffs listed the CBN, Zenith Bank Plc, Access Bank Plc, and the accountant-general of the federation (AGF) as first to fourth defendants.
Fubara, accountant-general (AG) of Rivers state, Rivers Independent Electoral Commission (RSIEC), chief judge (CJ) of Rivers, chairman of RSIEC, and government of Rivers state were listed as fifth to tenth defendants.
The Amaewhule faction of the assembly sought an order of interlocutory injunction restraining the CBN, the commercial banks, and the AGF from honouring any financial instruction from Fubara.
The court had dismissed all the objections raised by the defendants.
Delivering the verdict, the judge held that Fubara’s decision to implement an “unlawful budget” was a gross violation of the 1999 Constitution he swore to protect.
The judge, therefore, restrained CBN, accountant-general of the federation, Zenith Bank and Access Bank from further allowing Fubara access money from the consolidated revenue and federation account.
[TheCable]
OAU Student Murder: Appeal Court Reserves Judgement On Hilton Hotels Owner’s Plea To Quash Death Sentence
AFOLABI
The Court of Appeal in Akure, Ondo State, has postponed its decision on the appeal submitted by Ramon Adedoyin, the owner of Hilton Hotels in Ile-Ife, Osun State. He is seeking to overturn his death sentence for the murder of Timothy Adegoke, a postgraduate student at Obafemi Awolowo University.
Adedoyin and two of his hotel staff, Adeniyi Aderogba and Oyetunde Kazeem, were sentenced to death by an Osun State High Court, while three other staff were acquitted, and a receptionist received a two-year prison term.
Adegoke’s death occurred between November 5 and 7, 2021, during his stay at Adedoyin’s hotel.
The appeal panel, led by Justice Olufemi Akeju, withheld judgment on Tuesday after both parties submitted their arguments, with the court expected to notify them of the judgment date.
Representing Adedoyin, senior lawyer Kehinde Eleja (SAN) argued that the Osun State High Court failed to establish a direct link between Adedoyin and the murder, criticizing the judgment for alleged contradictions.
He questioned the court’s directive for Adedoyin’s estate to fund Adegoke’s children’s education while condemning him to death.
Prosecution lawyer Femi Falana (SAN) countered by presenting evidence, including a forged receipt and testimony that Adedoyin allegedly summoned hotel staff to fabricate alibis.
Falana further pointed to forensic findings, including blood stains in Adegoke’s hotel room, to substantiate claims of foul play. He urged the appellate court to uphold the trial court’s judgment.
Attorneys for the convicted staff also pleaded for acquittal, citing an inconclusive autopsy.
However, Falana argued the forensic evidence and the defendants’ alleged efforts to conceal Adegoke’s death contradicted their innocence.
BudgIT, a civic tech organisation has revealed only two states that can survive without Federation Account Allocation Committee.
According to BudgIT, only Lagos and Rivers states can take care of their operating costs without relying on revenue from FAAC.
BudgIT disclosed this in its 2024 State of States Report launched in Abuja on Tuesday.
The report stated that Ogun, Anambra, Cross River, Kwara, Kaduna, and Edo states can generate Internally Generated Revenue, IGR sufficient to cover at least 50 percent of their operating costs.
This comes as the BudgIT’s report revealed that 34 states depend on FAAC receipts for 62 percent of their recurrent expenditures.
Additionally, the report noted that 32 states in Nigeria relied on FAAC receipts for at least 55 percent of their revenue, while 14 states relied on FAAC for 70 percent revenue.
“Rivers and Lagos were the only two states that generated more than enough internally generated revenue (IGR) to cover their operating expenses, with lGR to operating expense ratios of 121.26 percent and 118.39 percent, respectively.
“Several other states, including Ogun, Anambra, Cross River, Kwara, Kaduna, and Edo, managed to generate IGR sufficient to cover at least 50 percent of their operating costs, with the rest relying on federal transfers.
“32 states relied on FAAC receipts for at least 55 percent of their total revenue, while 14 states relied on FAAC receipts for at least 70 percent of their total revenue.
“Furthermore, transfers to states from the federation account comprised at least 62 percent of the recurrent revenue of 34 states, except Lagos and Ogun, while 21 states relied on federal transfers for at least 80 percent of their recurrent revenue,” the report stated.
The report added that in the 2023 fiscal year, the combined revenue of all 36 states in Nigeria increased significantly by 31.2 percent from N6.6 trillion in 2022 to N8.66t trillion.