The Federal Government is expected to lose $4m from a World Bank loan after failing to meet auditing standards on a key revenue reform covering the Federal Inland Revenue Service and the Nigeria Customs Service.

The fund formed part of the $103m Fiscal Governance and Institutions Project, a public financial management initiative financed through a credit facility from the International Development Association.

According to the World Bank’s restructuring paper dated June 2025, the revenue assurance audit covering the FIRS and Customs for the 2018 to 2021 financial years was assessed as not achieved because the reports submitted did not meet international auditing standards.

A World Bank document obtained by The PUNCH on Sunday read, “Revenue assurance audit of Main Income Generating Agencies, including the Federal Inland Revenue Service and the Nigeria Customs Service for FY 2018 – 2021 with an allocation of $4m.

“These Intermediate Results to be implemented by the Office of Auditor-General of the Federation were assessed as not achieved by the Independent Verification Agent because the reports submitted for verification did not meet the requisite international auditing standards.”

The failed audit was one of ten performance-based conditions under the project that the government could not deliver before the closing date of June 30, 2025. As a result, the Federal Ministry of Finance formally requested the cancellation of $10.4m in project funds.

“The FMF has requested cancellation of $0.9m of unused funds for Technical Assistance and $9.5m, which is the amount allocated to 10 Performance-Based Conditions, which will not be achieved by the close of the Project on June 30, 2025,” the document read.

The breakdown further shows that $4.5m was tied to the uncompleted Revenue Assurance and Billing System, while $1m was allocated to the development of a National Budget Portal.

According to the document, the Budget Office of the Federation, which was responsible for the portal, did not submit any evidence of achievement. In addition, $0.9m in technical assistance funding was left uncommitted and has also been cancelled.

The document read, “The proposed change is to cancel the $10.4m, constituting $9.5m for PBCs that will not be achieved and verified by the closing date, and $0.9m uncommitted funds from the technical assistance component.”

This latest adjustment follows an earlier restructuring in June 2024, when $22m was dropped from the original $125m envelope, bringing the project down to $103m. With the new cancellation, the total funding now stands at $92.6m.

The Fiscal Governance and Institutions Project, approved in June 2018 and effective from May 2019, was designed to improve the credibility of public finance and national statistics through reforms in revenue administration, budget transparency, and data systems.

Although the government missed key targets, the project recorded progress in other areas, including revenue performance. According to the World Bank, non-oil revenue outturn was 153 per cent of the budgeted target in 2024, up from a baseline of 64.9 per cent in 2018.

The bank attributed the increase to the unification of Nigeria’s exchange rate, improved tax administration via the TaxProMax system, and reforms that automated revenue remittances from ministries and agencies.

In addition, the government exceeded expectations in the publication of reconciled economic and fiscal datasets, achieving 10 publications against the project target of six.

However, capital expenditure execution remains below expectations at 50 per cent, short of the 65 per cent target, while project monitoring and evaluation were rated as moderately unsatisfactory.

Other areas of progress include the launch of the Electronic Register of Beneficial Owners by the Corporate Affairs Commission, which now covers about 40 per cent of registered businesses, and the publication of a National Asset Registry and financial reports by the Ministry of Finance Incorporated.

The final disbursement on the project is projected at $96.04m, which represents 93 per cent of the pre-cancellation total of $103m.

•APC courts four PDP govs, 10 A’Ibom NASS members to join Eno, two Edo, Nasarawa senators to quit SDP, LP

Ten National Assembly members from Akwa Ibom State elected on the platform of the Peoples Democratic Party and the Young Peoples Party have resolved to join Governor Umo Eno in the All Progressives Congress.

They join two senators from Edo and Nasarawa, Neda Imasuen and Ahmed Wadada respectively, in planned defections to the ruling APC.

This happened just as the ruling party admitted it was working to bring four other PDP governors into its fold despite accusations it was working to turn Nigeria into a one-party state.

Some of the Akwa Ibom senators and Reps members confirmed their intention to switch to the APC but declined to speak on record, citing the need to follow due legislative process.

The APC National Vice Chairman (South-East), Dr Ijeoma Arodiogbu, affirmed the lawmakers’ plan to defect to the ruling APC in an interview with The PUNCH.

The PDP lawmakers who have pledged allegiance to the APC are Senators Ekong Sampson (Akwa Ibom South) and Aniekan Bassey (Akwa Ibom North-East), and House of Representatives members Okpolupm Etteh, Paul Asuquo, Alphonsus Uduak and Ime Bassey. Others are Martins Esin, Unyime Idem and Mark Esset.

Emmanuel Ukpongudo, a member of the YPP, is also reported to have chosen to throw his lot in with the APC.

The development comes on the heels of the defection of Governor Eno to the PDP last Friday. He cited the need to align the oil-rich state with the government at the centre.

Eno followed in the steps of Delta State Governor Sheriff Oborevwori, who dumped the PDP for the APC in April.

Leading the APC delegation, which received Eno into his new party, was Imo State Governor and Chairman of the Progressive Governors Forum, Hope Uzodimma.

A video shared on the official APC X (formerly Twitter) handle captured President Bola Tinubu following the proceedings on TVC News, underscoring his keen interest in the event and emphasising his preparation ahead of the 2027 election.

Addressing party leaders and his supporters in Uyo, the Akwa Ibom state capital, last week, the governor said, “I have decided to progressively move to the APC. Our government has always been an inclusive government, which will never change.”

He added that his decision followed “three months of wide consultations” with critical stakeholders across the state.

“Today, fellow Akwa Ibomites, we are gathered here to witness change while equally affirming the constancy of our collective values and defining ethos as a state.

“For some time now, the political space, particularly in this state and the nation in general, has been awash with the news of my likely movement from the PDP, the platform that had provided the levers and ladder of my political ascendancy to the position of governor of this state.

“The discussions have elicited various layers of analysis in the process. Today, I am here to answer some of those nagging questions. Like the Dalai Lama had said, we should always be open to change, but not let go of our shared values.

“Earlier this morning, I submitted my formal letter of resignation from the PDP to my ward chairman, and same copy was sent to both the state chairman, as well as the national chairman. I have therefore decided to progressively move to the APC.”

However, unlike Governor Oborevwori, who defected with the entire Delta State PDP structure into the APC, the Akwa Ibom State governor only succeeded in convincing federal lawmakers elected on the platform of the PDP to join him in the APC and one from YPP as some of his appointees.

Three commissioners resigned from Eno’s cabinet, opting not to defect with the governor.

Eno’s political godfather and immediate governor, Udom Emmanuel, shunned the defection ceremony.

The PUNCH had earlier reported that Udom vowed to remain loyal to the PDP regardless of its state of affairs.

One of the lawmakers said they decided to follow Eno, not out of pressure whatsoever.

He said, “We left with the governor on June 6. When I say we, I mean all the PDP National Assembly members (from Akwa Ibom State), including one YPP member. We followed our leader to the APC.”

When asked if the defection was a result of any pressure, the lawmaker said, “There was no pressure from any angle.”

An aide to one of the lawmakers disclosed that their defection letters would be read by the Senate President, Senator Godswill Akpabio and House Speaker Hon Tajudeen Abbas, on the floor of the National Assembly when the federal lawmakers, currently on vacation, resume plenary June 17.

“They have decided to move with the governor. Of course, we know that formal activity will take place on the floor of the Senate. But they all resolved to join the APC.

“It is not just the two senators but the eight other members of the House of Representatives, who were until Friday members of the PDP.

“For a long time before now, both Senators Sampson and Bassey had affirmed they would move with the governor,” an aide shared.

In a similar vein, the Senator representing Edo South Senatorial District under the banner of the Labour Party, Neda Imasuen, has announced plans to defect to the APC June 12 as the potent Hurricane Tinubu sweeps more political bigwigs into the APC ahead of the 2027 election.

Imasuen hinged his action on what he termed “disarray” within the LP and the desire to better align Edo South Senatorial District with federal development priorities under President Tinubu’s Renewed Hope Agenda.

Speaking in Benin City to mark his second year in office, Imasuen, who is the Chairman, Senate Committee on Ethics, Privileges, and Public Petitions, said, “I will be leaving the Labour Party to the APC as the current disarray in the LP will not help me achieve my aim for my people. My movement will also help align Edo South with the Federal Government and bring development to our people.”

Also, sources close to Senator Ahmed Wadada, who represents Nasarawa West, say the lawmaker is also set to join the ruling party after he announced that he planned to exit the party.

The Social Democratic Party member’s decision stemmed from what he described as “irreconcilable differences” with former Kaduna State Governor Nasir el-Rufai, whose recent defection to the SDP reportedly stirred controversy within party ranks.

Wadada, while acknowledging his personal respect for el-Rufai, expressed deep concern over the ex-governor’s political style and questioned his ideological consistency. At a press conference in Lafia, Wadada made it clear that el-Rufai’s entry into the party marked a turning point for him. 

“I cannot be part of a political platform where there is no ideological direction and where personal ambition overrides collective interest.”

A source close to the senator hinted that Wadada would join the APC soon.

“Even though he (Wadada) hasn’t officially made his next party destination public yet, there is a strong conviction among his followers that the senator is headed for the APC,” our source said.

The APC National Vice Chairman (South-East), Dr Arodiogbu, said nearly all Akwa Ibom State House of Assembly members have elected to defect to the APC, apart from a few “hesitant” ones who are being persuaded.

“For us, Akwa Ibom is now a clean sweep,” he stated. “The lawmakers are coming with the governor. We understand they must declare on the Senate and House floors, but they have already committed. And we are working on the few who have not responded positively.”

He further hinted that the defection momentum was spreading, noting that the party expected more governors from the opposition party to switch parties soon.

“We are expecting more PDP governors to join the APC. Talks are ongoing. Adamawa, Plateau, Osun, and Bayelsa are under serious watch.”

Arodiogbu dismissed speculations that the defectors were induced, insisting that their decision was voluntary and driven by what he described as the “visible success” of President Bola Tinubu’s Renewed Hope Agenda.

“No one is being coerced,” he said. “The achievements of the Tinubu administration are self-evident. People are simply aligning with progress.”

The defection of Governor Eno, now the second South-South PDP governor to join the APC after Oborevwori, marks a turning point in the regional political landscape.

The APC now controls 23 states, leaving the PDP with just 10, while the All Progressives Grand Alliance, the Labour Party and the New Nigeria Peoples Party each have one governor.

Who’s left?

The latest development has also put the spotlight on other PDP governors.

Governors Ahmadu Fintiri of Adamawa, Peter Mbah of Enugu, Caleb Mutfwang of Plateau, and Rivers’ suspended Governor Siminalayi Fubara are said to be under intense watch. 

Reports that Fintiri recently met with National Security Adviser Nuhu Ribadu had fuelled speculations that he may succumb to the Tinubu political hurricane sweeping the landscape.

This happened against the backdrop of his strained relationship with the 2023 PDP presidential candidate, Atiku Abubakar, who is alleged to be his godfather.

Atiku recently reconnected with Fintiri’s 2023 rival, Aishatu Binani, further sparking rumours of a looming power shift in the state.

Bauchi, Zamfara, Taraba

Meanwhile, the PDP in Bauchi State has described Eno’s defection to the APC as a betrayal of his predecessor, who has continued to stand firm with the party.

It downplayed the significance of his action, noting that it did not reflect the party’s fate.

The state PDP Publicity Secretary, Dayyabu Ciroma, said Eno’s move to the APC was no surprise.

“Eno has been romancing the APC since his swearing-in. He has betrayed his predecessor, who supported him against other interests.”

He added that the PDP wasn’t wishing the governor well and predicted that the party would defeat him in the state come 2027.

When asked if the state governor would emulate his Delta and Akwa Ibom counterparts, Ciroma stressed that Bauchi has been a PDP stronghold since 1999 and would remain so.

“Our governor is a core beneficiary of the party, and we doubt he’ll defect to the APC. Bauchi will stay PDP, and we will deliver the party again in 2027,” he said.

Ciroma also expressed optimism about Governor Bala Mohammed’s potential presidential bid in 2027, saying, “We are hopeful he will defeat Bola Ahmed Tinubu.”

He concluded that there’s no cause for concern in Bauchi State, as the party would remain intact.

Also speaking on the likelihood of Taraba State Governor Agbu Kefas moving to the APC, the PDP asserted that the state remained firmly in the grip of the party, insisting that it would maintain its status as the only Northern state yet to be governed by any opposition party since 1999.

In a statement in Jalingo, the PDP state chairman, Alhaji Abubakar Bawa, dismissed rumours that Kefas might join the APC, describing them as baseless and politically motivated.

“Taraba State is the stronghold of PDP in northern Nigeria,” Bawa said. “While other states in the region have explored opposition parties, Taraba has remained a steadfast PDP bastion.”

He credited the party’s enduring dominance in the state to the performance of PDP leaders and its connection with grassroots voters.

He also hailed Kefas as a leader “who embodies the party’s values and commitment to public service.”

“Governor Kefas has shown exceptional leadership through the prompt implementation of the N30,000 minimum wage and the recent upgrade to N70,000. He has also cleared a 10-month salary backlog for PDP secretariat staff, reinforcing his loyalty to the party and its members,” Bawa said.

However, APC stakeholders in Taraba welcomed the ongoing realignments in national politics and welcomed Kefas, should he choose to join the ruling party.

Ambassador Ardo Hassan, a chieftain of the APC in Taraba, said, “The APC is big enough to accommodate everyone. If the Governor of Taraba is willing to join, he will be warmly welcomed.

“However, those defecting must understand that there were people in the party before they joined. They should come in with humility and cooperate with the existing leadership and grassroots supporters,” he added.

Political analysts say while the PDP remains dominant in Taraba, the increasing overtures by the APC could test the loyalty of key stakeholders in the months leading up to the 2027 elections.

Still, Bawa remains confident.

“Taraba’s loyalty to the PDP is a reflection of effective governance. We are not losing sleep over any rumour.”

Meanwhile, Governor Dauda Lawal of Zamfara State also vowed not to dump the PDP.

The Special Assistant to the Governor on Media and Communications, Mustafa Kaura, declared his principal’s stance in an interview with The PUNCH.

He was reacting to a taunt by the Minister of State for Defence, Bello Matawalle, who asked Lawal to end his “hide and seek” and join the ruling party publicly.

Matawalle, a former governor of the state and now a top member of the APC, made the comments during Sallah festivities in Maradun.

“Instead of hiding in the day and appearing at night, the governor should be bold enough to follow due process and join the APC like a true progressive,” Matawalle jibed.

But Kaura maintained that the governor has said it several times that he would not betray the electorate who voted him to power under the platform of the PDP.

He said, “Some people have been spreading rumours that Governor Dauda Lawal is planning to dump his party, the PDP and join the APC. There is no iota of truth in this; and as such, I want the PDP supporters to disregard this.

“Governor Dauda Lawal will remain in the PDP and has no intention of joining any other party. He is a true believer who believes in God and whatever God has destined to happen, must happen, no matter the party he belongs to,” Kaura pointed out.

Plateau

In reaction to reports that Plateau Governor Caleb Mutfwang was under pressure to leave the PDP, the APC chairman in the state, Rufus Bature, stated he is welcome to join the APC.

Asked if the party was wooing the governor, he said, “The APC, which I chair in Plateau State, I don’t think we have had cause to sit down anywhere to discuss that.”

However, when asked if he would like Mutfwang to join the APC, Bature cited the Nigerian Constitution, saying, “The Constitution of Nigeria allows freedom of association and freedom of speech. So, I cannot be the one to be seen as flouting the Constitution of Nigeria.”

Commenting on the matter, the state PDP Deputy chairman, Bitrus Golen, stated, “There is no need to sensationalise the issue because Governor Mutfwang  has repeatedly said he remains a member and committed to the PDP and that has not changed, to the best of my knowledge as of today (Tuesday).”

More to move

In a related development, the Labour Party chairman in Edo State, Kelly Ogbaloi, lamented the exit of Senator Imasuen from the party.

Ogbaloi stated that the party persuaded Imasuen to remain with the LP but added that the lawmaker had his mind made up.

He said, “It is confirmed that Senator Neda Imasuen is moving to the APC, his new choice of party. We were consulted. We persuaded him and told him there was no need to do that, but it appears that he is very certain and does not intend to change his decision.

“Therefore, we are going to wish him success wherever he goes. It is painful that he has to leave us, but there is nothing the party can do to keep him.’’

The Secretary of the Edo APC, Lawrence Okah, said Imasuen’s defection was a testament to the good job the party, through the government, was doing in the state.

He stated that notable politicians would also move to the APC on June 12.

He said, “I will also tell you that other notable politicians will join the APC on that day, as we hope that more will join after June 12.”

Foremost lawyer Femi Falana has said that the economic policies of the Tinubu administration only benefit the rich.

He said that while the policies improve life solely for the wealthy, the living standards of the masses have deteriorated.

Falana stated this in an interview with Channels Television on Monday, adding that many Nigerians are struggling to survive.

DAILY POST reports that some top officials within the All Progressives Congress, APC, celebrated the president’s second anniversary, claiming he has performed exceptionally well.

“For members of the government—and I’m talking of top officials—it’s been very rosy. One of them was singing a week ago that things are getting better.

“Of course, for the rich, the bourgeoisie, things are getting better. But for the masses of our people, things are getting tougher because they are going through an excruciating economic crisis,” Falana stated.

Some of the policies introduced by the president upon assuming office two years ago include the unification of the forex windows and the removal of fuel subsidy

Bandit leader, Bello Turji has reportedly threatened farmers around Zamfara state this rainy season.

According to security expert, Bakatsine in a post on his X handle, Turji said farmers can only ‘peacefully’ go to their farms after paying N50m tax.

This ransom is said to affect residents of Tsalaken Gulbi from Fakai village, Shinkafi LGA, Zamfara State. It extends up to Qaya near the Niger border.

It has become almost tradition for farmers around troubled areas in the North to pay a sort of safety tax to bandits before farming and during harvest.

However, previous reports confirmed that some farmers still lose their lives, even after paying the tax, while other times, they lose their farm produce to the bandits or both