Senate President Godswill Akpabio has reportedly withdrawn from a presidential panel investigating sexual harassment allegations made against him by Senator Natasha Akpoti-Uduaghan of Kogi Central.

Oby Ndukwe, president of Citizens Quest for Truth, revealed this on Saturday, May 3, 2025, during Politics Today on Channels Television.

Sources say President Bola Tinubu formed the panel on Wednesday, April 2, 2025, chaired by Vice President Kashim Shettima, with members including National Security Adviser Mallam Nuhu Ribadu, the Attorney General of the Federation, and one representative each from Akpabio and Akpoti-Uduaghan.

 

The panel was tasked with probing allegations that sparked national controversy.

Akpabio’s withdrawal, without an official explanation, has fuelled speculation. Sources claim he cited executive interference and doubts about the panel’s neutrality.

Tensions between Akpabio and Akpoti-Uduaghan escalated after her February 2025 accusations of sexual harassment.

 

The Senate suspended Akpoti-Uduaghan on Thursday, March 6, 2025, pending the investigation’s outcome, a move critics called a silencing tactic.

Akpoti-Uduaghan has vowed to present evidence in court.

- several wounded, hospitalized

 

Residents of Akure, the Ondo State capital, scampered for safety yesterday as personnel of the state security outfit codenamed Amotekun clashed with police officers over the custody of a suspect linked to a stolen motorcycle.

 
 

Eyewitnesses said that personnel from both security agencies exchanged gunfire during the clash, causing widespread tension and anxiety across the state capital.

According to reports, a complainant had visited the Amotekun office to report a missing motorcycle. Acting swiftly, Amotekun operatives recovered the stolen motorcycle and arrested the suspect.

However, shortly after the arrest, a team of police officers arrived at the Amotekun office and reportedly demanded custody of the suspect.

One of the officers told newsmen that Amotekun personnel declined the request and directed them to the state commander of the corps, Chief Adetunji Adeleye.

Sources said a heated argument ensued between the two agencies, which escalated into exchange of gunfire.

Several officers were reportedly injured during the confrontation, which occurred as the police attempted to forcefully take custody of the suspect and the exhibit.

In an official statement issued by the Ondo State Police Command, spokesperson Ayanlade Olayinka accused some officers of acting unprofessionally, saying At about 0800hours, a report was received at the Ijoka Divisional Police Headquarters regarding the arrest of a suspect allegedly involved in the theft of property from a church located around Sunday Bus Stop.

 

“Acting promptly on the report, the Divisional Police Officer (DPO) detailed two police officers, along with the incident duty officer, to proceed to the scene, recover the suspect, and secure exhibits linked to the crime.

“It is important to note that the police officers were the first to arrive at the scene.

“However, while they were executing their lawful duties, operatives of the Amotekun Corps arrived with a large group of commercial motorcyclists (Okada riders).

“In a disorderly and commando-like manner, the Amotekun personnel and their companions forcefully took custody of the suspect and the exhibits, injuring a police officer in the process.Following this, the Commissioner of Police, Ondo State Command, Wilfred Olutokunbo Afolabi, immediately directed tactical commanders to recover both the suspect and the exhibits.”

“Subsequently, after intervention and dialogue led by the commanders of agencies, the suspect and exhibits were returned to the police in the spirit of inter-agency cooperation.

 

“However, while the matter was being amicably resolved, a few aggrieved members of the Amotekun Corps, unhappy with the release of the suspect, began firing sporadically into the air.

“To prevent a breakdown of law and order and to disperse the agitated crowd without harm, the police officers at the scene responded with the professional use of tear gas. No exchange of gunfire occurred between the two agencies.”

The spokesperson reiterated that the Ondo State Police Command remains committed to collaboration with other security outfits in the state, while emphasizing the importance of adhering to the law and established protocols.

“The Command assures members of the public that it remains dedicated to the maintenance of peace, public safety, and the rule of law across the state,” Olayinka concluded.

Efforts to reach the Amotekun State Commander, Chief Adetunji Adeleye, for comments were unsuccessful as of press time.

Fear and chaos have gripped parts of eastern Sokoto State as renewed bandit attacks, allegedly carried out by Kachalla Kallamu loyalists of notorious kingpin Bello Turji, have forced residents of more than 20 villages to flee their homes.

The fleeing villagers, seeking safety from escalating violence, have found temporary refuge in Gatawa, a town in the Sabon Birni Local Government Area. Many are now sheltering in public schools and with relatives, as local authorities scramble to respond.

 

A resident of Gatawa, Mallam Saminu, confirmed the development in a telephone chat with THE WHISTLER.

“Yes, it is true. People from many villages around Gatawa have been displaced and have come here to seek refuge,” he said.

 

“Some are staying with relatives in town, while others have been sheltered in two secondary schools, one near the military camp and another within the town.”

Communities affected by the attacks include Makira, Shabanza, Katsalle, Dan Kura, Garin Tunkiya, Dama, Dan Tazako I, II, and III, Gaugai, among others.

 

As of press time, official responses from the state government were unavailable. The Special Adviser on Security Matters to the Governor, Col. Ahmed Usman (rtd.), could not be reached, and the State Police Public Relations Officer, DSP Ahmed Rufai, said he was awaiting a full briefing before commenting.

The mass displacement has once again thrown a spotlight on the fragile security situation in the region, where banditry continues to upend lives despite sustained military operations.

A legal advocacy group, Lawyers in Defence of Democracy, has described the record of former Nigerian National Petroleum Company Limited (NNPCL) Group Chief Executive Officer, Mele Kyari, as “one of the most transparent” in the company’s history, dismissing the ongoing probe by the Economic and Financial Crimes Commission (EFCC) as an attempt to tarnish his legacy.

 

The group made this known in a statement released on Monday in response to reports that the EFCC was investigating alleged abuse of office and misappropriation of funds involving Kyari and other former senior officials of NNPCL.

 

Speaking through its Deputy National Coordinator, Barrister Ndu Edede, the group stated that Kyari, who led the transformation of NNPC into a limited liability company and oversaw sweeping reforms through the Petroleum Industry Act, deserved commendation rather than what it called a “witch-hunt.”

“For someone who served the country diligently from 2019 to 2025 as GMD and later as GCEO of NNPCL, Kyari deserves appreciation, not persecution,” the statement read.

They credited Kyari with spearheading reforms that revitalised Nigeria’s petroleum sector, including the removal of fuel subsidy, an action they said freed up funds for government use and an increase in daily oil production to nearly 2 million barrels.

According to the group, “Moribund refineries were being resuscitated while the Dangote Refinery came on board, changing Nigeria’s petroleum sector’s narrative. These feats have never been achieved before.”

 

The EFCC’s probe was revealed in a letter dated April 28, 2025, addressed to the current GMD of NNPCL. The letter, which has since surfaced online, listed 14 former officials, including Kyari and Abubakar Lawal Yar’Adua, as subjects of an investigation into alleged abuse of office and financial misappropriation.

While acknowledging the EFCC’s right to conduct investigations, the lawyers urged the commission to proceed with caution.

“As Kyari himself said, ‘he served Nigeria with the fear of God and is willing to account for his stewardship.’ While we stand with the former GMD/GCEO, we implore EFCC to be circumspect about its planned probe in order not to appear as conducting a witch-hunt against someone who sacrificed his lifetime, energy, and comfort in service to the country,” they stated.

 

The group also emphasised that any genuine and transparent probe would ultimately vindicate Kyari, whom they described as a transformational figure in the oil and gas industry.

The EFCC has not yet issued a formal public statement on the status or scope of the investigation.

Special Assistant to former Vice President, Atiku Abubakar, on Public Communication, Paul Ibe, has faulted the presidency for dismissing the recent remarks by outgoing President of African Development Bank (AfDB), Akinwumi Adesina, that Nigerians today were worse off than they were at Independence in 1960.

Naija News reports that Adesina had claimed that Nigeria’s GDP per capita had dropped from $1,847 in 1960 to $824 in 2024, implying a deterioration in living standards.

In response, Presidential spokesman, Bayo Onanuga, in a post via ? dismissed the figures as incorrect, emphasising that available historical data tell a markedly different story.

Quoting official statistics, Onanuga outlined Nigeria’s economic growth over the decades, acknowledging a rise in GDP to $12.55 billion in 1970, $27.7 billion in 1975, $64.2 billion in 1980, and $164 billion in 1981.

He noted that Nigeria’s economic trajectory rose significantly in the 1970s following the oil boom.

Reacting, Paul Ibe countered Onanuga, stating that Adesina was right, reiterating that Nigeria is worse off today due to the 133 million impoverished citizens.

Ibe urged the presidency to stop gaslighting Nigerians because Adesina’s remark is the real data, and the masses feel the pain.

He said, “Dr. @akin_adesina was right. Nigeria is worse off today than in 1960—just ask the 133 million Nigerians living in poverty.

“Throwing out nominal GDP from 1960 without adjusting for inflation is either ignorance or spin. Real analysts use PPP-adjusted figures—and by that measure, Nigeria has declined.

“Life expectancy? Just 52 years. Unemployment? Sky-high. The naira? Collapsed. Mobile phones don’t fix hunger or power cuts. Cherry-picking GDP and telecom stats while ignoring rising inequality, poverty, and institutional collapse is not just dishonest—it’s cruel.

“Stop gaslighting Nigerians. The people feel the pain Adesina spoke of. That’s the real data….must you attack everyone?”

Former governor of Delta State, James Ibori, has praised his daughter, Erhiatake Ibori-Suenu, for upholding and preserving his political legacy.

Speaking on Sunday while celebrating his daughter on the occasion of her 45th birthday, Ibori expressed profound gratitude to God for her life and lauded her decision to follow in his political footsteps.

Erhiatake currently represents the Ethiope East/Ethiope West Federal Constituency in the House of Representatives.

In a personally signed birthday message made available to newsmen in Warri the former governor praised his daughter’s courage, principles, and dedication to public service, noting that her presence in the political arena has played a vital role in safeguarding his legacy.

He said, “Your decision to walk in my footsteps politically has been vindicated. Without you, the assaults on my legacy might have prevailed.

“Today, 45 years ago, God Almighty gave you to our family. I celebrate you with immense pride and gratitude. Over the years, you have grown into a fearless and principled leader, standing firm against compromise and defending values greater than personal gain.

“I thank God for your life, as well as the mentors, supporters, and loved ones who have guided you on this journey.

“Today, I wish you continued good health, divine wisdom, and unyielding strength as you forge ahead. You have made your immediate family proud, your siblings proud, and your constituency proud. Above all, you have made me profoundly proud.

“On behalf of my wife, your siblings, and our entire family, I pray that today is as remarkable as the impact you make every day.

“Happy 45th celebration, Erhiatake! May the years ahead shine even brighter.”

Ibori, a founding figure of the Peoples Democratic Party in Delta State and a known political ally of President Bola Tinubu, has kept a relatively low profile since his return to Nigeria in 2016 after serving a jail term in the United Kingdom for money laundering.

Twelve-year- old Munachi Udochukwu was happily living in Onitsha attending primary school along with his two siblings.

Doted on by his two parents, he is seen off to school at the beginning of the new term. This exercise is a yearly ritual for Munachi and his younger sister.

 
 

Narrating how he found himself in a Yahoo training centre in Lagos, after he was arrested, Munachi, said prior to his arrival in Lagos, he was living happily with his parents in Anambra State before he was introduced to the gang who operates the facility.

 

According to him, one of the factors that pushed him into the crime was the death of his father, whom he said was the sole breadwinner.

“I was woken up one early morning by the news of the sudden death of my father who left home for his business place the previous day.

“His death shattered my dreams of a promising carrier in future as I was made to drop out of school since the proceed from my mother’s petty trading business was not enough to sustained the family.

“Then, not knowing what to do, my mother approached a friend of hers, for financial support, but rather she introduced my mother to a gang that was recruiting young boys in the East into internet fraud.

“To her, the prospects was good as she believed that in less than one year, her young son would be rich enough to shoulder the burden and that her worries will be over.

“The only thing that stood against the thought of a lavish lifestyle is the money to buy me a laptop, data and some few other items.

“Not wanting to fail again, she quickly, without thinking of the possible dangers ahead, sold the only land that was given to my father by his family to raise the fund,” he confessed to a team of detectives from the State Criminal Investigations Department (SCID), Panti where he was being detained.

Munachi explained that few weeks later, he arrived Lagos along with three others and that they were enrolled into the internet training centre where they will be taught on the technics of swindling unsuspecting foreign and local businessmen.

“At first, we were shown different romance online sites and how we can capture those seeking sexual pleasure for a token in dollars.

“We all had different roles to play in the quest to defraud a would-be client. We must perform our part perfectly, failure of which attracts severe beating. You are made to stay without food if the stake is high.

“I have only spent few months before we were arrested by the police. Most of the money we made goes to our teachers. The only thing we were given is food. Those who have graduated gets a fraction of the proceed from a successful deal,” he added.

The Lagos State Commissioner of Police, Moshood Jimoh, who confirmed their arrest at a press conference held at the command headquarters, identified operators of the facility as ChibikeIheijika 923) Stanley Iheijika (22), Obiora Oyedibe (26) and Emmanuel Onedibe (25).

CP Jimoh, who was represented by the command’s spokesman, CSP Benjamin Hundeyin, gave the names of the trainees as Okorie Henry, Otoh Chisom (20), Okeke Kwufrochukwu (26), Uchenna

Obeji (26), Munachi Udochukwu (12) and Chinedu Ukachukwu (23).

Speaking at the conference, Hundeyin said operatives of the command successfully uncovered and dismantled an illegal internet fraud training facility, commonly referred to as “Yahoo School”, operating in the Iju area of Lagos.

He stated that during the operations, detectives of the command arrested 10 suspects, four of which are the yahoo experts, who were running the notorious school.

“Preliminary investigation revealed that the principal suspects of the facility recruited the trainees from Anambra State, engaged them to commit internet fraud and other related crimes.

“The proceeds from their fraudulent activities were being confiscated by the principal suspects. All suspects have been transferred to the State Criminal Investigation Department (SCID), Yaba for further discreet investigation and prosecution.

“Efforts are ongoing to apprehend the sponsors who financed the trainee’s enrolment in the school, as well as the owner of the facility where the cranial and illegal activities took place,” he added.

Suspected Boko Haram terrorists on Saturday attacked the 27 Task Force Brigade, Buni Yadi, Gujba LGA of Yobe State, killing at least four soldiers and destroying many operational equipment.

The attack happened less than 24 hours after the North East Governors Forum met in the state capital, Damaturu, and adopted a multidimensional approach to tackle insurgency in the region.

Buni Yadi is located about 65km from Yobe State capital and is the country home of the state governor, Mai Mala Buni.

A security source, who escaped the attack, told our correspondent that the assailants stormed their location around 2am on Saturday through the western direction.

He said the terrorists sacked the troops from the brigade and burnt down all the equipment that were deployed there.

“They ransacked the armory, looted what they could and burnt it down;  they set ablaze the artillery, five MRAPs, anti-aircraft carriers, and over 20 Hilux vans,” he said.

Earlier on Saturday, the Nigerian Army headquarters confirmed the attack via its verified Facebook page but didn’t give further details on the destruction recorded.

“Troops of Operation HADIN KAI are currently in a fierce battle against ISWAP attack at Buni Gari, Yobe State. Details later,” it stated.

However, another soldier, who escaped the early morning attack said the terrorists stormed the areas in large numbers through the western direction, hauling explosives and shooting sporadically.

“We were taken off guard by the heavy explosions and gunfire, but we stood our ground but were later overpowered. A lot of our fighting equipment was destroyed during the encounter.

“Yes, we lost four of our men, just as they also recorded casualties during the fierce battle that last for hours….,“ he said.

He lamented that the soldiers were gruesomely killed by the terrorists “They were beheaded.”

Six military formations attacked so far

With this attack, at least six military formations have been targeted by the terrorists in Goneri, Wajirko, Sabongari, Izge and Wulgo, where soldiers were killed and military equipment looted or destroyed.

According to newspaper reports, attacks which happened between January and April 2025, had claimed the lives of an army commander, a captain and 22 soldiers.

A local security expert told our correspondent that five of the military locations overran by the insurgents were located at the Tumbuktu triangle within Sambisa forest.

“Sadly, they succeeded in overrunning all these bases that were strategically located to block their illegal activities within the Sambisa Forest and Mandara Hills,” he said.

Locals flee Buni Yadi

Local source who fled to the local council headquarters, Buni Yadi, said many residents have fled their homes to areas they consider safe.

“The military had shut down vehicular movement on the busy road, which serves as a link between Yobe and Biu and other towns in southern Borno,” he said.

Two weeks ago, Boko Haram insurgents attacked a military location in the Chalie area, Buni Yadi, where three soldiers were reportedly killed during the attack.

Over the past months, communities in Borno have suffered relentless assaults with insurgents targeting villages and military formations, particularly in Sabon Gari, Wajirko and Wulgo were they dislodged troops and stole arms and ammunition, among others.

Zulum calls for deployment of more troops, equipment

Governor Zulum also called on the federal government and the military to take the battle to the terrorists in Lake Chad and Mandara Hills in Sambisa Forest.

He also advocated for increased troop deployment to areas such as the Timbuktu Triangle and for continuous and sustained military operations to prevent the reoccupation of previously reclaimed territories.

“There should be forces that will keep the ground, otherwise they will come back”, he said.

“What brought about the recent situation is we felt everything is OK, but they are regrouping now and I believe the Nigerian military will not allow them to regroup.”

The governor requested the deployment of more military hardware including Mine-Resistant Ambush Protected Vehicles (MRAPs), Unmanned Aerial Vehicles (UAVs), and additional personnel to improve surveillance and fortify vulnerable zones.

While acknowledging the current operational burden on the military across the country, Zulum called for the deployment of more trained manpower and logistics to the North East.

He highlighted the success of non-kinetic measures, revealing that over 300,000 repentant insurgents and their families had surrendered over the past three years.

Timeline of attacks on military formations

* On January 4, 2025,  Boko Haram attacked a military formation in Sabon Gari, Damboa LGA of Borno State where six soldiers were killed and 36 terrorists neutralised but the military repelled the attack.

* On January 26, an army commander and 19 soldiers were killed by Boko Haram/ISWAP at a military base in Malamfatori, the headquarters of Abadan LGA of Borno.

* On March 24, Boko Haram raided two military formations in Borno – Wajirko army formation in Damboa LGA and Wulgo village of Gamboru Ngala LGA in Borno – where many soldiers and Boko Haram attackers were killed.

* Two soldiers were also feared dead and others injured after the convoy of the newly deployed Brigade Commander ‘Operation Hadin Kai’ in Damboa LGA stepped on Improvised Explosive Devices/landmines planted by suspected terrorists along Maiduguri- Damboa-Biu road.

* On April 6, 2025, a captain,  soldier and scores of Boko Haram terrorists were killed in Izge village, Gwoza LGA of Borno.

* According to reports, the terrorists strike with Rocket Propelled Grenades (RPGs) targeting the Izge platoon formation of troops of ‘Operation Hadin Kai’ which led to a fierce battle and exchange of gunfire for hours, before resilient residents of the community with support from vigilantes and local hunters complemented efforts of the military to repel the attack. Izge is located in the heart of Sambisa forests, and is about 20km drive Southwest of Gwoza town.

* In another attack on April 17, 2025, two soldiers and some civilians were  killed in Yamtake village after Boko Haram invasion of a military base.

* The night invasion also led to the displacement of several people who were IDPs for many years before they were resettled in their ancestral homes by Borno State government.

* On April 18,2025, terrorists invaded Gwoza LGA of Borno. The infiltration, according to residents, started at about 11pm as troops of 26 Task Force Brigade engaged the attackers with no casualty close to the base.

* On April 26, 10 hunters on rescue mission were killed in gun battle in Kopire village, Hong LGA of Adamawa. Kopire shares a border with Hawul LGA of Borno.

* On April 29, two soldiers lost their lives along Maiduguri-Damboa road.

* On January 20, Boko Haram invaded Kawuri village of Konduga LGA of Borno, where three patrol vehicles of the Civilian Joint Task Force were destroyed and many villagers sustained injuries.

* On January 8, 2025, two policemen were killed by terrorists in Gajiram, council headquarters of Nganzai in Northern Borno.

Zulum, Shehu, lawmakers frown at attacks

Worried by the situation, Borno State governor, Babagana Umara Zulum, Shehu of Borno, Senator Ali Ndume and other federal and state lawmakers urged the federal government to take action.

Both Zulum and the Shehu, said when they spoke during an expanded security meeting at Government House in Maiduguri, that Abadam, Marte, Guzamala LGAs were under the control of Boko Haram.

They also raised concerns that Borno State and the North East share borders with three neighbouring countries, Chad, Cameroon and the Republic of Niger, emphasising on the security concerns in the Sahel region, especially the infiltration of foreign terrorists.

[DailyTrust]

Gunmen suspected to be herdsmen on Sunday night hijacked a commercial vehicle along the Otukpo-Adoka road in Benue State, killing the driver and abducting all passengers on board.

The incident occurred around 11 p.m. as the vehicle was en route to Otukpo from Abuja.

Eyewitnesses told DAILY POST that the attackers opened fire as soon as they sighted the vehicle, causing the driver to lose control and veer off the road into nearby bushes after being hit by a bullet.

The assailants subsequently abducted all the passengers before abandoning the vehicle at the scene.

The body of the slain driver, identified as a native of Adoka, has been recovered and taken to his hometown.

Meanwhile, military personnel have arrived at the scene and launched a manhunt for the attackers.

[DailyPost]

  • Expert cautions against delayed fiscal execution, dependence on oil price

Despite headwinds, Budget 2025 will be implemented to achieve its objectives, Federal Government sources said yesterday.

A drastic drop in oil price and delayed take-off, among other factors, are threatening the N54.99 trillion Appropriation Act.

An official said there was no cause for worry because the government can easily adjust to the international oil price fluctuations.

Besides, the official said the lifespan of the capital component of last year’s budget was pro-actively extended till next month by the National Assembly to take care of such shocks.

A source said: “Critical steps are already in motion to ensure that the budget is not derailed. The National Assembly took proactive measures by extending the lifespan of the capital component of the 2024 budget until June. 

“This extension was aimed at ensuring continuity in funding for projects that are already underway. The idea was to focus on ongoing projects. So, there is no cause for alarm about 2025 Budget implementation.”

The Nation further learnt that implementation of budgets begins with the procurement process, which the source explained, could take four to five months before the award of contracts.

He said: “This timeline accounts for the perceived slow pace of the 2025 Budget rollout. Implementation is a process that begins with procurement. Usually, that takes averagely four to five months before the actual award of contract.”

On whether the government was paying attention to the capital expenditure side of the budget, the government insider pointed out that “the recurrent component of the 2025 Budget is in effect. This has kept essential government operations running smoothly.

“The recurrent component of the budget is being implemented. Otherwise, government operations would have been grounded to a halt. So, it’s incorrect to say that the 2025 Budget is not being implemented.”

There are concerns about oil price volatility. In the Budget 2025 Appropriation Act, oil price is pegged at $75 per barrel but as at yesterday, it was sold at $61.5 per barrel.

An official said there was no cause for alarm.

He dismissed such fluctuations as a familiar challenge.

According to the source, Minister of Budget and Economic Planning, Atiku Bagudu, had explained that the budget remains an estimate that can be adjusted as conditions require.

“Oil price volatility is not a new phenomenon. The Minister of Budget and Economic Planning has responded several times to this issue. Budget is essentially an estimate that could be adjusted as the situation demands,” he explained.

Acknowledging that oil remains the dominant source of revenue, the official indicated that the government is taking aggressive steps to diversify and boost revenue collection.

A major focus, he revealed, is on increasing crude oil production, a responsibility now firmly placed on the shoulders of the newly appointed board and management of the Nigerian National Petroleum Company Limited (NNPCL).

“Oil might be the major source of revenue, but there are other sources. The government’s response would be to ramp up production. This is one of the targets given to the new management of the NNPCL,” he stated.

He said that the President Bola Tinubu administration had from the outset prioritised increased production and lower production costs as twin goals for the petroleum sector.

 

The source explained: “The underlying objectives of the Bola Tinubu administration are to increase production and reduce the cost of production. The new board and management of the NNPCL have been saddled with this responsibility with timelines.

“Apart from oil, attention is now being shifted to non-oil sector as alternative sources of revenue. The government is actively working through the Federal Inland Revenue Service (FIRS), the Nigeria Customs Service (NCS) and various government-owned enterprises to step up revenue collection.

“Revenue collection is being ramped up to ensure the budget is funded appropriately. The FIRS and Customs Service, as well as government-owned enterprises, have been charged to up their game. There is nothing to panic about.”

 The tax reform due to come into place after passage by the Senate this month, in concurrence with the passage of the tax bills by the House of Representatives, will also widen the tax net and bring in more revenue without additional tax burden on the people.

This will enhance better funding for Budget 2025.

Managing Director,  Ambosit Capital Managers, Dr. Wahab Balogun, called for urgent fiscal reforms and accelerated implementation measures to avert economic stagnation.

He explained that for Nigeria to achieve inclusive growth, fiscal discipline must return to the center of public finance. “We cannot afford another year of delayed implementation and dependence on oil price ,” he warned.

Reacting to the government’s efforts to shore up revenue through the FIRS, NCS and  and various Government-Owned Enterprises (GOEs),  Balogun said the current oil price of $61.45 per barrel, which is significantly lower than the $75 benchmark in the 2025 budget, presents a serious fiscal challenge.

According to him, the government must now look beyond oil. He stressed the need to broaden the non-oil revenue base and enhance compliance across the tax system. He urged the FIRS to intensify digital tax administration and enforce the Finance Act provisions on tax remittance and withholding obligations.

He said: “The government must accelerate the implementation of the tax harmonization roadmap recommended by the Presidential Fiscal Policy and Tax Reforms Committee.”

He also noted that the Nigeria Customs Service must become more efficient in blocking leakages, curbing smuggling, and ensuring full implementation of border revenue policies.

He added: “Customs modernization is no longer optional; it’s a necessity. Streamlining duty waivers and enforcing compliance at all entry points will significantly boost collections.”

On the role of GOEs, Balogun argued that many of these enterprises underperform due to weak corporate governance. He stressed that the government must commercialize and hold GOEs accountable, pointing out that only a handful remit any meaningful surplus. “This is a missed opportunity in an economy trying to close a growing fiscal gap,” he said.

He further advised the government to aggressively pursue public-private partnerships (PPPs), asset monetization, and cost-cutting reforms. According to him, through agencies like the Infrastructure Concession Regulatory Commission (ICRC) and the Bureau of Public Enterprises (BPE), the administration can unlock significant value by concessioning dormant assets and scaling back non-essential expenditure.

On the delayed implementation of the 2025 budget, Balogun expressed concern that the extension of the capital component of the 2024 budget until June 2025 could undermine fiscal stability and policy coherence. While acknowledging that the extension is legally permitted, he argued that it distorts the budget cycle and hampers the timely execution of new projects.

“We’re already in May and no funds have been released for 2025 capital projects. This creates uncertainty for investors, contractors, and even states relying on federation account flows,” he noted.

Balogun called for the immediate release of 2025 recurrent funds and urged the Budget Office to publish the implementation framework without further delay. He also recommended a performance audit of the 2024 capital budget to identify dormant or slow-moving projects, which can then be reallocated to critical areas once the June deadline lapses.

He insisted on the need to harmonize budget approval, procurement, and project execution timelines to reduce the incidence of rollovers, while also urging the National Assembly to strengthen its oversight role to ensure that MDAs fully utilize their allocations within the budget year.

[TheNation]

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