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Probe $3.4bn COVID-19 Loan, Petrol Subsidy Savings, CSOs Tell N’Assembly
A coalition of prominent Civil Society Organizations (CSOs) has urged the National Assembly to investigate the utilization of the $3.4 billion loan acquired by the Federal Government from the International Monetary Fund (IMF) in April 2020 amid the COVID-19 pandemic, citing a lack of evidence of its expenditure on any specific projects.
The CSOs also expressed opposition to the continuous borrowing requests by the Federal Government and the swift approvals granted by the National Assembly, with little or no tangible outcomes to show for these loans.
Led by the Executive Director of the Civil Society Legislative Advocacy Centre (CISLAC), Auwal Musa Rafsanjani, the coalition, comprising nine CSOs, made this demand during a media briefing at the National Assembly complex in Abuja on Friday.
They alleged that the incessant borrowing had escalated the country’s debt profile to N87.9 trillion, equivalent to $114.3 billion, without significant improvements in the lives of Nigerians.
The coalition also questioned the whereabouts of savings purportedly made by the government from the removal of fuel subsidies since May 2023, highlighting the economic hardship experienced by Nigerians amidst rising living costs.
In light of these concerns, the CSOs called for urgent action by the National Assembly to investigate the loans and their utilization by both past and present administrations, emphasizing the importance of improving the welfare of Nigerians.
They emphasized the need for accountability in government spending, particularly in areas such as recurrent expenditure and capital projects that contribute to economic growth and development.
Furthermore, the CSOs demanded transparency regarding the savings from petrol subsidy removal and urged the government to fulfill its promises of alleviating the economic challenges faced by millions of Nigerians.
Among the CSOs represented at the media briefing were the Centre for Democracy and Development (CDD), International Budget Partnership, Paradigm Leadership Support Initiative, Oxfam, Social Action, Christian Aid, and ActionAid, among others.
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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