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Senate to probe Buhari’s N30trn Ways and Means spending
On Tuesday, the Senate stirred a mild controversy by deciding to reexamine the N30 trillion Ways and Means allowance it had sanctioned for the Federal Government during the tenure of former President Muhammadu Buhari. The Senate alleged that the lack of transparency regarding the expenditure of the overdraft obtained from the Central Bank of Nigeria (CBN), under the leadership of Godwin Emefiele, contributed significantly to the current food and security crises in the nation.
In response, the Senate resolved to establish an ad hoc committee to conduct a comprehensive inquiry into how the N30 trillion was utilized by the previous administration, as details of such expenditures were deliberately withheld from the National Assembly. This committee, slated to be formed on Wednesday, will also scrutinize the N10 trillion allocated to the Anchor Borrowers Scheme, the $2.4 billion forex transaction from the $7 billion earmarked for that purpose, and other intervention programs.
The Senate’s decision followed the review of a report from its joint committees on Banking, Insurance, and Other Financial Institutions; Finance; National Planning; Agriculture; and Appropriations, regarding the state of the economy after interactions with the Federal Government’s economic management team.
During the plenary session on Tuesday, discussions surrounding the approval of the N22.7 trillion Ways and Means by the 9th Senate in May 2023, along with an additional N7.2 trillion passed by the 10th Senate on December 30, 2023, were heated and contentious. Senator Ali Ndume, the Senate Whip, admitted to the Senate’s oversight in approving the request without detailed expenditure breakdowns from President Buhari. Conversely, Deputy Senate President Senator Jibrin Barau contended that the approval was made collectively with the understanding that the executive would provide the necessary details later, which never materialized.
Senate President Senator Godswill Akpabio underscored the need for a thorough investigation into the N22.7 trillion Ways and Means approved by the 9th Senate, which subsequently increased to N30 trillion with the passage of an additional N7.2 trillion in December 2023. Akpabio emphasized that the nation’s current food and security crises can be attributed to the opaque handling of the Ways and Means, urging for transparency in expenditure reporting. Additionally, Akpabio supported the committee’s recommendations for investigations into the Anchor Borrowers Programme and other intervention initiatives, while also calling for urgent action from security agencies to address the pervasive insecurity hindering agricultural activities across the nation.
Dangote Refinery has announced that it will need to export 95-97 percent of its Premium Motor Spirit (petrol) due to low interest from Nigerian marketers. The refinery, which processes 650,000 barrels per day, revealed that only 3 to 5 percent of petrol marketers are purchasing its fuel.
Devakumar Edwin, Vice President of Oil and Gas at Dangote Industries Limited, shared these details during an X Space session hosted by Nairametrics on Wednesday. He highlighted the challenges facing both the Dangote Refinery and Nigeria’s oil and gas sector.
Edwin explained, “I’m selling 2 to 3 percent to small traders who are willing to buy, while the remaining 95 to 97 percent has to be exported,” referring to the local sales of the refinery’s products.
This situation arises as the NNPCL’s deadline for adjusting the Dangote Refinery’s fuel distribution approaches without a clear plan in sight. It is worth noting that while Aliko Dangote, President of Dangote Group, has announced the refinery’s initial petrol rollout, its distribution to marketers is contingent upon NNPCL’s decisions.
The final sixteen teams for the 2024 FIFA U-20 Women’s World Cup in Colombia have been determined following the conclusion of the group stage.
In recent matches, Ghana triumphed over New Zealand with a score of 3-1, and Japan secured a 2-0 victory against Austria.
As a result, Japan has advanced to the Round of 16, joining the other 15 teams in this knockout stage.
The Round of 16 matches are scheduled for Wednesday, Thursday, and Friday.
The full lineup for the Round of 16 is as follows:
- Spain vs Canada
- Brazil vs Cameroon
- Colombia vs South Korea
- Mexico vs USA
- North Korea vs Austria
- Germany vs Argentina
- Netherlands vs France
- Japan vs Nigeria
The Nigerian Army has refuted claims of widespread resignations among its soldiers due to issues like corruption and low morale.
In a statement, Major General Onyema Nwachukwu, Director of Army Public Relations, dismissed these reports as unfounded.
A news outlet had alleged that numerous Nigerian soldiers were resigning because of corruption and low morale. However, the statement condemned these allegations as misleading and a deliberate attempt to create discontent and undermine the Nigerian Army’s reputation and the dedication of its personnel.
Major General Nwachukwu clarified that, similar to other military organizations worldwide, service in the Nigerian Army is voluntary rather than mandatory. This means that personnel have the freedom to resign following established procedures.
He explained that the resignation process allows personnel to prepare and manage their entitlements, including pensions and gratuities, as outlined in the Harmonized Terms and Conditions of Service (Officers/Soldiers).
Contrary to the report’s implications, the statement emphasized that Nigerian Army personnel are highly motivated, and their welfare is a priority under the leadership of Chief of Army Staff, Lieutenant General Taoreed Lagbaja.
We’ll be forced to export 97% of our petrol – Dangote Refinery warns
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