The Minister of Finance, Wale Edun has disclosed that Nigeria has saved $20 billion from petrol subsidy removal and market-based pricing of the foreign exchange rate.

He made the disclosure at a ceremony recently held to mark the first 100 days in office of Esther Walso-Jack, head of civil service of the federation, in Abuja.

“An amount of five per cent of GDP is what those two subsidies were costing when there was a subsidy on PMS; when there was petroleum product generally for a long time and when there was a subsidy of foreign exchange. Between them, they were costing five percent of GDP.

“If you say GDP was on average, let’s say $400 billion. We all know what five percent of that is $20 billion of funds that could be going into infrastructure, health, social services, education,” he said.

Edun said these flows now return into the government’s coffers for further deployment to the aforementioned sectors.

“The real change that has happened with the measures of Mr. President is that nobody can wake up and their target for the day or for the week or the month or the year is to get access to cheap funding, cheap funding exchange from central bank, which they can now flip.

“And overnight, they become wealthy from no value added for doing virtually nothing, except you know the right people. Similarly, they can no longer try and be part of a new peak market and very inefficient petrol subsidy regime as a way of making money overnight,” Edun added.

TD Jakes, bishop of The Potter’s House, a megachurch in the United States, suffered a health scare after delivering a sermon on Sunday. 

As Jakes rounded off his sermon with a prayer, social media videos showed how his movements slowed.

“The meditations of my heart be acceptable in thy sight, oh Lord,” Jakes prayed amid laboured breaths.

“My strength and my redeemer, let them go in peace,” he added with his head bowed while slowly lowering the microphone.

Soon afterwards, the bishop’s head began to bob back and forth as his body jerked awkwardly.

Church officials ran towards him to prevent an imminent collapse.

In a statement on Facebook, The Potter’s House said the renowned pastor and author received immediate medical attention and is currently in stable condition.

“The entire Potter’s House family is grateful for the outpouring of love, prayers, and support from the community. Thank you for your understanding and continued prayers,” the statement added.

The church did not share if Jakes was hospitalised following the incident or what may have caused it.

Renowned Nigerian comedian and actor, Okechukwu Anthony Onyegbule, popularly known asOkey Bakassi, has argued that polygamy is a more suitable form of marriage for Africans, claiming that monogamy is failing in the region.

Bakassi shared his views during a conversation on the Honest Bunch Podcast, where he expressed that many couples in monogamous marriages are merely pretending to be happy.

He said, “Forget all the lip services that we pay to polygamy here. I still think that polygamy is the best form of marriage for Africa. Monogamy is not working.

“We are pretending. Now, what’s the difference between polygamy and monogamy? Polygamy says you can marry two people at the same time. Monogamy says you cannot marry them at the same time, you have to let one go. What if you don’t want to let one go?”

Similarly, Nollywood veteran Stephen Alajemba, better known as Uwaezuoke, has controversially claimed that having less than three wives is sinful.

He warned that men with one or two wives face risks, including being poisoned by their spouses.

In an interview with Ugwumba TV, Alajemba explained, “It’s a sin to marry one or two wives. But if you marry three or four, you will be free from sin. If you marry one wife your life is at risk. The safety of the director is in the hands of the security. If you marry two wives, they will conspire to poison you.

“But if you marry three or more wives, they will all be on their own and you will only be providing for them. You will be taking turns with their meals and bedrooms.”

A former Chief of Staff to Ex-President Muhammadu Buhari, Professor Ibrahim Gambari, has advocated for further decentralization of power between the federal and state governments.

The diplomat argued that the concentration of power with the federal government is too much, adding that the current situation is a result of prolonged years of military rule.

According to him, with the democratic dispensation in full swing, there is a need to consider matters that are on the exclusive and concurrent lists so state governments can assume greater responsibilities and local governments can also be strengthened.

Naija News reports he made the submission while speaking as a guest on the Sunday edition of Inside Sources with Laolu Akande, on Channels Television.

The elder statesman said, “We have to decentralise power. The power of the central government is become so much. We have to find a way of decentralisation; it’s not necessarily by creating 50 more states or 200 more local governments but those things that could be done competently like education, agriculture, and others, let the state take charge.

“It’s not by accident that power has become so concentrated at the centre; it is the prolonged military rule. They (heads of state) nominate governors and so on. But now, we are in a democracy, and I sincerely believe that we have to take a second look at that so that matters that don’t need to be on the exclusive or concurrent lists are not there.

“We must strengthen local government authorities. The local government autonomy is a good step but it is not just about money because if you don’t strengthen the capacities of the local governments and also the process as to which people become chairmen of local governments, you can throw money there, and it goes down the drain.”

The diplomat said the progress and development of Africa relies on Nigeria, and the country must, therefore, pull its weight accordingly.

“The future of Africa depends on Nigeria. Because according to the United Nations, Nigeria will become the most populous country in the world by 2050, we are already the not populous in Africa.

“It’s not late. The country, by God’s grace, is going to survive because I believe that the Almighty has a purpose for putting that much number of people in this place, and to an extent, we cannot be ignored in the world,” he said.

The Senate has stated that President Bola Tinubu will likely president the 2025 budget this week.

According to the Senate spokesperson, Yemi Adaramodu ( APC, Ekiti South), the Finance Committee will meet with the Ministries, Departments, and Agencies on Monday.

He said, “The President would likely present the 2025 budget this week or in earnest.

“The Senate Committee on Finance is already working on the Medium Term Expenditure Framework and would be meeting with the MDAs tomorrow (Monday).

“The MDAs are expected to defend their 2024 expenditure and also project their 2025 budget.”

Tinubu submitted the Medium-Term Expenditure Framework and Fiscal Strategy Paper for 2025–2027 to both the Senate and the House of Representatives last Tuesday.

Akpabio directed the Senate Committee on Finance, National Planning, and Economic Affairs to consider the MTEF/FSP documents and report within one week.

Key parameters in the MTEF/FSP include a $75 oil price benchmark per barrel, daily oil production of 2.06 million barrels, an exchange rate of N1,400 to $1, and a targeted GDP growth rate of 6.4%.

These figures form the basis for consideration and approval of the proposed N47.9tn 2025 budget.

Our correspondent also observed that there is work ongoing in the chamber to fix some minor issues ahead of the President’s visit.

Former Edo State, Godwin Obaseki has knocked Governor Monday Okpebholo decision to probe his (Obaseki) administration, saying it is a diversionary tactic to mask his incompetence and unpreparedness for office.

Recall that Okpebholo had approved the formation of a 14-member State Assets Verification Committee to investigate the administration of his predecessor.

The committee is tasked with verifying the state’s assets and liabilities under the previous administration.

But reacting in a statement to Naija News on Sunday, Obaseki’s Media Aide, Crusoe Osagie, said his principal ran Edo’s most transparent government.

He stated that the barrage of empty probes by Okpebholo is a smoke screen to mask his incompetence and unpreparedness for office.

According to Obaseki’s aide, Okpebholo is devoid of ideas and lacks a clear vision to drive development in the State, noting that the Edo governor is resorting to cheap political theatrics and using a circus of meaningless probes to distract from his glaring incompetence and lack of direction.

The statement reads: “Our attention has been drawn to a laughable and utterly ridiculous statement by the Monday Okpebholo’s administration setting up a 14-member State Assets Verification Committee to probe the administration of his predecessor, His Excellency, Godwin Obaseki, who is globally acclaimed to have run one of the most transparent, accountable and prudent government’s in the history of Nigeria.

“This is another in the list of the barrage of meaningless probes which the governor and his directionless government is embarking on since they got into Dennis Osadebey Avenue through the back door. From probing civil servants’ employment to probing Ministries, Departments, and Agencies (MDAs), and probing vehicles and other assets of government, among others, the governor-select has continued to show that he is bereft of ideas and lacks a clear vision for the development of the State and has therefore resorted to these charades of empty probes to buy time and distract from his incompetence and unpreparedness for office.

“His plan is to treat Edo people like an undiscerning mob that you can distract with a show like the duel of gladiators in the Ancient Roman Colosseum. But Okpebholo will soon learn that he is the governor with the hardest job in Nigeria because the Edo people of Edo State are wise and can hardly be fooled. His diversionary probes may succeed in deceiving people in some States in Nigeria but certainly not those in Edo State.

“He should stop his futile and failed attempt to fool the people of Edo State who have already seen him for who he truly is: a politician out of his depth who has become a tool in the hands of his many godfathers who are thirsty for vendetta, having for long been denied access to the people’s patrimony by the immediate past government of His Excellency, Mr. Godwin Obaseki.

“It is on record that the Obaseki administration achieved an unprecedented level of transparency in governance, laying a solid foundation for fiscal discipline, which was why it was able to accomplish the numerous milestones recorded across various sectors of the State, including the economy, education, agriculture, infrastructure, among others. Under Obaseki’s watch, the State developed its first asset register, containing all the government’s assets, which has since been handed over to the new government.”

He added: “So, we know what their plans are with the diversionary probes. It is just a smokescreen to mask the governor-select’s incompetence and unpreparedness for office, having come into power through a stolen mandate.

“We want to advise Okpebholo to focus on governance and improving the lives of Edo people rather than waste state resources masking his incompetence in meaningless probes. Edo people are watching and his short-span government which lasts until the People’s Democratic Party (PDP) reclaims its mandate duly given to it by Edo voters will be judged not by the noise it makes but by the impact it delivers.”

Elder statesman and leader of the Ijaw nation, Chief Edwin Clark, has alleged that former President Muhammadu Buhari, and former Minister of Justice and Attorney-General of the Federation, Abubakar Malami (SAN), oppressed and humiliated former Chief Justice of Nigeria, Justice Walter Onnoghen.

According to Clark, Buhari removed Onnoghen at all costs in order to get away with “the mess and mischievous things they wanted to carry out” during the 2019 presidential election.

Clark stated this in a letter addressed to the Chief Justice of Nigeria, Justice Kudirat Kekere-Ekun, on Sunday, where he commended the judgment of the Court of Appeal acquitting Justice Onnoghen of all charges of false declaration of assets, following a settlement agreement with the Federal Government.

He faulted the suspension of the former CJN by President Buhari, noting the constitutional provision that placed the power to appoint and suspend a CJN in the hands of the President, the National Judicial Council, and the National Assembly.

The Ijaw leader also urged President Tinubu not to allow sacred cows to exist in his government, noting that the constitution did not provide immunity for life for a former President.

Clark said, “As for the former Chief Justice of Nigeria, Justice Walter Onnoghen, in his own case, ‘a Daniel has come to judgment’. I knew he was not fairly treated; he was oppressed and humiliated by President Muhammadu Buhari and his Attorney General of the Federation and Minister of Justice, Abubakar Malami (SAN).

“At this juncture, let me say this: President Tinubu’s government must not allow sacred cows to exist in Nigeria, no matter whose ox is gored. There is no one who is above the law in his own country. A president of a country is just one of the ordinary members in the country, but once elected, enjoys immunity. There is nowhere therefore in the constitution or any legal document where it is stated that immunity is for life.

“Today in Nigeria, we have corrupt Presidents and some of them today are accusing their successors of corruption without looking back at what they themselves stole while in office but no one dares to touch them. Perhaps, it is an irony of fate for the former CJN, Justice Walter Onnoghen, who was one of the Supreme Court Justices whose judgment favored President Muhammadu Buhari in his presidential election case in the Supreme Court in 2011.”

Clark also alleged that the former President removed Onnoghen from his position as CJN prior to the 2019 general elections because of “the mess and mischievous things they wanted to carry out,” during the elections, again describing Buhari’s actions as “disgraceful, callous, unjust and so barbaric”.

“He (Buhari) allowed him to rise to the post of CJN but he saw that, that was not good enough for him because if Justice Onnoghen was to remain the CJN, the mess and mischievous things they wanted to carry out during the presidential election in 2019, Justice Onnoghen would not accept it and the best thing was to remove him, and this was the secret plan between President Buhari and his Attorney General and Minister of Justice, Abubakar Malami.

“The show of shame that took place at the time was so disgraceful, callous, unjust and so barbaric that instead the President of Nigeria, who swore to an oath of office that he would maintain security and welfare of Nigerians, chose to stoop so low in order to humiliate a fellow Nigerian because he wanted to be President of Nigeria at all costs for a second term. It is a shame which Nigeria has just recovered from,” he stated.

The former Commissioner for Information faulted the silence of the Nigerian Bar Association and the National Judicial Council during the ousting of the former CJN from office, while commending Justice Kekere-Ekun and the Court of Appeal’s judgment acquitting Justice Onnoghen.

“I am, therefore, very happy to have read that both the judiciary, particularly the Court of Appeal and the former CJN, Justice Walter Onnoghen, have come to an amicable settlement, and I wholeheartedly congratulate him for passing out the ordeal he was subjected to by the former President, and I pray God will protect him and for him to always have the courage to fight for his right because Nigeria belongs to all of us and we are all equal citizens,” Clark said.

The Senior Special Assistant to former President Buhari, Garba Shehu, did not comment on the issue.

However, an official in the previous administration, who pleaded anonymity for lack of authorisation to speak on the issue, told one of our correspondents that the decision of the Buhari government to suspend Onoghen from office was justified under extant laws.

The official said, “The case before the Code of Conduct Tribunal against Onoghen was the non-declaration of assets, an offence against the laws of the land, the Constitution. The records are there at the Code of Conduct Bureau that Onoghen had never declared his assets, but only twice: when he was appointed as acting CJN and when he was appointed as CJN.

“That was the only time he declared his assets. Never, as a high court judge, appeal or Supreme Court Justice. And he admitted that he didn’t declare his assets. And all these bank assets that they said should be released to him, the truth is, even when he declared as CJN, he did not declare those assets. But the man, by his admission, said that he did not declare. Is that not enough to fire him?

“So, if the government of the day decides that he has not committed any offence and that they have waived it off, then they can let him off the hook. That is a political decision.”

The Catholic Archbishop of Sokoto Diocese, Matthew Kukah, has said that President Bola Tinubu, his predecessor Muhammadu Buhari, and other previous heads of state were not fully prepared before taking over power.

He insisted that Tinubu and other past leaders found themselves in power by accident.

Kukah stated this on Sunday while delivering a keynote address at the official commissioning of Start-Rite School’s new building and the 4th Amaka Ndoma-Egba Memorial Lecture in Abuja.

He lamented that the fundamental element missing in Nigerian leadership is knowledge.

The clergyman expressed concern that democracy appears to be malfunctioning under successive administrations.

He stated, “If we are to start from the beginning, you will find that almost every leader who came to power in Nigeria did so as a result of one accident or another. President Tinubu, who said he was prepared for the role, is struggling. We are still trying to get off the ground. He took over from Buhari, who had already given up.

“Buhari succeeded Jonathan, who thought he would retire after being deputy governor, but circumstances thrust him into power. Jonathan succeeded Yar’Adua, who had planned to return to teaching at Ahmadu Bello University after his governorship.

“Yar’Adua, in turn, succeeded Obasanjo, who was unexpectedly released from prison to become president. Obasanjo took over after Abacha, who was being positioned by five political parties to rule indefinitely until nature intervened.

“Abacha succeeded Shonekan, who was a business executive at UAC before being called to serve as Head of State. We can go on and on, but the fundamental issue in governance is knowledge. Leaders need a deep understanding of their environment.”

Kukah stressed that while the world has changed, the expectations of leadership have not.

Former Deputy Senate Leader, Senator Abdul Ningi (PDP, Bauchi Central), has accused PresidentBola Tinubu‘s proposed tax reform bills of being discriminatory and favouring a few states, particularly Lagos, at the expense of others.

In an interview with Vanguard, Ningi alleged that the reforms, rather than addressing national issues, cater disproportionately to Lagos and two other states.

He described the bills as an attempt to exploit citizens’ silence and push through an inequitable fiscal agenda.

“The crux of the bill lies in its discriminatory nature,” Ningi emphasized.

He further criticized the President for disregarding the National Economic Council (NEC), chaired by Vice President Kashim Shettima, which had rejected the reforms.

Ningi expressed concerns that the bills were now being fast-tracked through the National Assembly despite NEC’s objections.

“It’s disturbing that, after failing to convince the NEC, the President is now attempting to push these bills through the National Assembly,” Ningi said.

The Senator highlighted the inequitable distribution of Value-Added Tax (VAT) revenues as a glaring example of the system’s flaws.

“This is not about North or South. The pains of Bauchi are no different from those of Anambra, Ebonyi, or Katsina. Lawmakers must stand united against these reforms for the sake of the country,” he said.

He explained that VAT collected in Lagos on goods sold in other states is retained in Lagos, leaving the producing states without a share of the revenue.

Ningi said, “You buy maize in Kaduna without VAT. When the maize is processed into Semovita in Lagos, VAT is collected when it is sold back in Kaduna. That VAT is returned to Lagos. Where is the fairness or ethics in this system?”

He also pointed to similar disparities in revenue allocation from petrol sales and airtime purchases, which benefit the locations of company headquarters rather than the states where the products are consumed.

Ningi called for a complete overhaul of Nigeria’s fiscal structure, proposing a system where resource-producing communities retain their earnings and pay taxes to the federal government.

“If these bills pass through the National Assembly, there will be consequences. Many will pay the price for their indifference, lack of patriotism, and outright unresponsiveness,”Ningi warned.

The bills, which include the Nigeria Tax Bill 2024 and the Tax Administration Bill, among others, were transmitted to the legislature following recommendations by the Presidential Committee on Fiscal and Tax Reforms, chaired by Taiwo Oyedele.

The Tax Reform Bills have faced pushback from some state governors, particularly from the northern region, who argue that the proposed derivation-based VAT distribution model would disproportionately disadvantage their states.

Paul Ibe, media aide to former Vice President Atiku Abubakar, has launched a scathing attack on Daniel Bwala, recently appointed as a spokesman to President Bola Tinubu, accusing him of betraying his integrity for personal gain.

In a statement on Sunday, Ibe described Bwala as a man “without an iota of shame,” claiming he had conspired against his own dignity and values for selfish interests.

The remarks followed the circulation of a video compilation showcasing instances where Bwala, during his time as a Peoples Democratic Party (PDP) chieftain, publicly criticized Tinubu.

Before his appointment, Bwala served as an aide to Atiku Abubakar, who was the PDP’s presidential candidate in the 2023 general elections. His recent political alignment with Tinubu has sparked a backlash from his former party members and associates.

Ibe wrote in a post on X (formerly known as Twitter), “Shut up, Daniel Bwala! If you had any iota of shame, you wouldn’t be eating your own vomit. Or is this the case of the hand of Daniel and the voice of Bwala?

“You are the master of conspiracy. For the sake of your stomach, you conspired against your own integrity and dignity.

“You are damn right about God exposing humans for who they are in the fullness of time. God has already exposed you as a duplicitous, “double-faced infernal traitor and schemer.”