NEWS
Presidency Affirms N1.27tn Addition To 2024 Budget Amidst Padding Allegations
Senator Yemi Adaramodu, spokesperson for the Senate has vehemently refuted accusations of budget padding in the N28.77 trillion budget passed by the National Assembly.
The denial comes in response to concerns raised by Senator Abdul Ningi regarding potential discrepancies.
Contrarily, the Presidency issued a statement on Saturday acknowledging a N1.27tn addition to the 2024 budget. However, it expressed confusion over the origin of the mentioned N3tn.
Adaramodu underscored the budget’s public accessibility, affirming its status as a document available for scrutiny by Nigerians.
As reported by the BBC Hausa service on Saturday, Senator Ningi, Chairman of the Northern Senators Forum, alleged that the Federal Government is running a budget of N28tn, contradicting the officially approved N25tn passed by the National Assembly.
He said, “Apart from what the National Assembly did on the floor, there was another budget that was done underground which we didn’t know.
“The new things we have discovered in the budget were not known to us. We haven’t seen them in the budget that was debated and considered on the floor of the National Assembly.
“For example, it was said that there was a budget of N28tn but what was passed was N25 trillion. So there is N3tn on top. Where are they, where is it going? So, we need to know this. There are a lot of things.
“For the first time in Nigerian history, today we are operating two different budgets. One budget was approved by the National Assembly and signed by President Bola Tinubu and the other was implemented by the Presidency.
“The one approved by us is N25tn while the one operated by the Federal Government is N28tn. Apparently, we discovered N3tn was inserted into the budgets without locations. This is the highest budget padding that happened in Nigerian history under Sen. Akpabio’s watch.
“We resolved as people’s representatives to see President Tinubu on this issue, with facts and figures, to ask him if he is aware of this embarrassment or not, then from there we will take action. Let Nigerians be patient with us.”
The Senate Spokesperson responded, asserting, “There is no budget padding, according to the Senate and the National Assembly.”
“The national budget is a public document, which expressly states the expected revenue and the expenditure of the Federal Republic of Nigeria.
“The Senate under the leadership of Senator Godswill Akpabio is not aware of any varied execution of the 2024 appropriation mandate, as approved.”
Senator Adaramodu added, “The budget presentation and approval processes were made in the public glare, while the Presidential assent was also in a public ceremony.
“Any infractions would have been brought before the Senate, if any. The general public should be at rest that there is no budget padding anywhere and we are confident that the 2024 appropriation law shall be strictly executed, under strict legislative oversight.”
The Special Adviser to the President on Information and Strategy, Bayo Onanuga, clarified on Saturday, stating, “The National Assembly added N1.27tn to the 2024 budget. So, we do not see where the N3tn is coming from.”
“What we know is that the NASS approved a budget of N28tn which the President signed. What the President signed was the budget approved by the National Assembly, by the two houses.
“The 2023 supplementary budget was passed separately to run concurrently with this year’s budget until March.”
Ningi further announced that the Northern Senators Forum plans to confront Akpabio with its findings on the budget.
He added, “We want to show him what we have seen in the budget that is not acceptable, we will not accept them, and we don’t want the country to continue spending money on those things,”
The Head of Press and Public Relations Unit at the Ministry of Finance, Chukwu Helen, stated her inability to confirm whether the budget was padded with the mentioned amount.
She assured to provide confirmation after consulting with the ministry’s budget officer.
Recall that on November 29, 2023, President Bola Tinubu unveiled the “Renewed Hope budget” totaling N27.5tn before a joint section of the National Assembly, as reported by BIZTELLERS.
NEWS
Fuel Pricing: PETROAN Accuses Dangote Refinery Of Monopoly
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has raised concerns over alleged monopolistic practices by Dangote Refinery, following a public dispute about fuel pricing in the downstream petroleum sector.
Recall that the refinery, Africa’s largest, recently disclosed its petrol pricing at N990 per litre in trucks and N960 per litre into ships, a move it justifies as being in line with international rates.
READ MORE: Nigeria’s Debt Service Ratio Falls To 65% As Tinubu Tackles Economic Woes
PETROAN, however, sees this as an attempt to suppress competitors and dominate the Nigerian market.
The rift began when Dangote Refinery claimed that complaints from marketers regarding its pricing were fueled by intentions to import cheaper, potentially substandard products.
In response, PETROAN strongly rejected these allegations, suggesting that Dangote’s claims are tactics designed to maintain a monopoly in the sector.
Joseph Obele, PETROAN’s spokesperson, stated that the association remains committed to importing high-quality products at more competitive rates to ensure affordability for Nigerian consumers.
According to PETROAN, competition in the market is essential for achieving fair pricing, and any attempt to stifle it would be detrimental to consumers.
They argue that Dangote Refinery’s pricing should reflect production costs and fair margins rather than international benchmarks, especially given concessions granted by the government for the refinery’s establishment.
PETROAN also announced its plans to partner with foreign refineries and financial backers to import premium-quality petroleum products at prices below current rates.
The association aims to enter the market by December 2024, pending necessary regulatory approvals.
“The allegations that PETROAN will import substandard products are unfounded and aimed at creating an unfair playing field,” the statement read.
PETROAN warned that similar claims in the past had led to significant price hikes when competitors were pushed out, emphasizing that the entry of new players into the market would lead to more competitive pricing and ultimately benefit Nigerian consumers.
PETROAN expressed appreciation for President Bola Tinubu’s commitment to revitalizing Nigeria’s state-owned refineries and urged the government to consider privatizing the Port Harcourt and Warri refineries once rehabilitation is complete.
The association believes a transparent privatization process will help strengthen Nigeria’s downstream sector and counter monopolistic tendencies.
To address the ongoing pricing challenges in the sector, PETROAN called on the government to convene a comprehensive meeting of industry stakeholders, including major associations like IPMAN, DAPPMAN, MEMAN, NUPENG, and PENGASSAN.
PETROAN believes that collaboration among these groups will be instrumental in establishing a sustainable and competitive pricing framework for petroleum products in Nigeria.
NEWS
Hardship: Let Us Intensify Prayers For Our Leaders – Sultan Of Sokoto Tells Nigerians
Sultan of Sokoto, Sa’ad Mohammad Abubakar II, has called on Nigerians to avoid publicly criticizing their leaders, instead urging citizens to place their trust in God to address leadership concerns as He deems fit.
Speaking at the Regional Conference on Climate Change-Induced Conflicts in Northern Nigeria, organized by the Kaduna State Bureau of Interfaith in collaboration with International Alert, the Sultan emphasized faith and patience in navigating the country’s challenges.
READ ALSO: Gunmen Attack Police Facility In Owerrinta, Female Detainee Killed
Acknowledging Nigeria’s current economic and social hardships, the Sultan encouraged continuous prayer, not only for the nation but for its leaders as well.
“Even though many feel times are particularly hard, we believe relief will come. Let’s increase our prayers for our leaders, trusting God to address them in His way,” he said, expressing hope that divine intervention could bring stability and prosperity.
The Sultan reminded political leaders of their ultimate accountability to God, cautioning that they will stand alone on the Day of Resurrection, with only their deeds to support them.
“On that day, every leader will stand alone. Governors, advisers—none will have support except their own deeds. Let us act with a deep sense of responsibility and fear of God,” he stated.
Addressing religious leaders, he warned against misleading their followers for personal gain, underscoring the trust many place in their religious guidance.
“Only God can save any human being,” he said, encouraging Nigerians to remain faithful and discerning in their spiritual beliefs. “Focus on worshiping Allah and leave the rest to Him. Don’t follow those who might lead you astray.”
With leaders from various religious communities, including the President of the Christian Association of Nigeria (CAN), in attendance, the Sultan called for unity, resilience, and communal effort to tackle pressing issues such as climate change, poverty, and insecurity in the northern region.
He praised the North’s history of unity and resilience, warning against divisive narratives that threaten communal harmony. “When we are united, we can face any challenge and build a prosperous community,” he asserted.
The Sultan’s remarks come amid ongoing social and environmental issues in the region, including a recent surge in climate-related challenges that have exacerbated poverty and security threats.
In light of these issues, he called on both Muslims and Christians to intensify their prayers, saying, “Our country faces many challenges, and we must turn to God in prayer. Let us intensify prayers in our mosques and churches.”
NEWS
#EndBadGovernance Protests: Tinubu Orders Release Of Detained Minors
In a decisive move, President Bola Tinubu has ordered the immediate release of all minors detained by police during the recent #EndBadGovernance protests.
The directive, announced by Minister of Information and National Orientation, Mohammed Idris on Monday, underscores the government’s commitment to protecting children’s rights and ensuring justice.
Related News: EndBadGovernance Protests: Court Sets N10m Bail Each For 67 Minors
Idris confirmed that President Tinubu’s directive prioritizes the welfare of detained minors, instructing the Ministry of Humanitarian Affairs to facilitate their safe reunification with their families.
A committee led by the Ministry of Humanitarian Affairs will be established to oversee the welfare of the released minors and ensure compliance with the president’s orders.
Additionally, President Tinubu has directed a formal investigation into the actions of law enforcement agencies involved in the arrests.
The president emphasized that any misconduct uncovered during the investigation will result in disciplinary action, affirming his administration’s dedication to accountability within law enforcement.