The Federal Government is set to launch a significant cash transfer program aimed at providing financial assistance to 20 million of the country’s poorest citizens, according to Wale Edun, the Minister of Finance and Coordinating Minister of the Economy.

Speaking on Nigeria’s financial outlook, Edun disclosed that the revenue for the 2024 fiscal year has seen a significant increase, allowing for a more strategic allocation of funds towards social intervention programs.

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These programs are designed to improve the quality of life for the most disadvantaged Nigerians and address pressing socio-economic challenges.

Edun emphasized that the social investment initiative will directly benefit 60 percent of the nation’s poorest population.

“Right now, 20 million people, or four million households, are receiving direct financial support from the government. This number will rise to 15 million households in the near future,” he said.

The minister attributed the boost in revenue to the government’s focus on domestic resource mobilization.

“By the first half of this year, government revenue had doubled, thanks to the robust application of technology in our processes,” Edun explained. He noted that reforms in the civil service, coupled with stricter oversight of ministries, departments, and agencies, played a critical role in improving revenue collection.

Edun further highlighted that President Bola Tinubu’s administration is committed to ensuring that the benefits of increased revenue, particularly from improved oil production, are channeled towards supporting the most vulnerable Nigerians.

“The government has applied technology to enhance compliance with regulations and ensure that surplus revenues from government agencies are appropriately directed to social investment programs.

“This is how President Tinubu’s government is ensuring that the financial gains are being utilized to make a tangible impact on the lives of Nigerians,” Edun added

Uncertainty continues to overshadow the proposed meeting between the Independent Marketers’ Association of Nigeria (IPMAN) and Dangote Refinery regarding the pricing of fuel.

Originally scheduled for Tuesday, the meeting was intended to discuss the direct purchase of premium motor spirit (PMS) from the refinery, following the withdrawal of the Nigerian National Petroleum Company Limited (NNPCL) as a middleman for the 650,000-barrel facility.

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The federal government, led by Finance Minister Wale Edun, has recently empowered marketers to make direct purchases from Dangote Refinery.

This shift is aimed at fostering a more competitive fuel market and potentially lowering prices for consumers.

IPMAN leaders had expressed optimism about the talks, anticipating that they could secure a more affordable fuel supply.

However, as of the latest updates, no meeting has occurred, leaving many Nigerians disappointed and hopeful for a reduction in fuel prices.

Chief Chinedu Ukadike, IPMAN’s National Publicity Secretary, confirmed that the association is still awaiting a call from Dangote Refinery to finalize arrangements. “As of now, status quo still remains,” he stated.

The discussions were prompted by interventions from the Department of State Service (DSS) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).

IPMAN has previously criticized NNPCL, alleging that the prices offered by the national oil company are significantly higher than the N898 per litre available from Dangote.

Compounding the issue, IPMAN President Abubakar Maigandi revealed that NNPCL has been holding approximately N15 billion belonging to independent marketers for the past three months, further complicating the fuel supply situation.

As Nigerians await further developments, the prospects for cheaper fuel remain uncertain, with many looking to the impending discussions for a glimmer of hope.

In a significant victory for the Falana family, the Lagos State High Court has delivered a landmark ruling against social media critic Martin Otse, popularly known as VeryDarkMan (VDM).

Justice M. O. Idowu, presiding over suit no: ID/8584/GCM/2024, ordered Otse to immediately delete defamatory statements and videos targeting prominent lawyer and human rights advocate Femi Falana (SAN) and his son, musician Folarin Falana, popularly known as Falz.

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The court also slapped Otse with a N500 million fine for libel and ordered him to compensate the Falanas for damages.

The ruling stems from Otse’s September 24, 2024 posts linking the Falanas to controversial Nigerian personality Bobrisky. Justice Idowu deemed these comments “defamatory and injurious” to the Falanas’ public reputations.

Falana and Falz successfully argued that Otse’s claims were baseless and aimed at tarnishing their reputation.

The court noted that Otse knowingly published false statements to harm the Falanas.

“This judgment underscores the importance of responsible social media usage and the consequences of spreading false information,” said Dawodu, counsel for the Falanas.