NEWS
How RMAFC Recovered Over N500bn For FG
It has come to light that the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) recovered in excess of N500 billion for the Federal Government from corporates, including some government-owned institutions.
Chairman, RMAFC, Mohammed Bello, made the disclosure in Abuja, on Wednesday at an interactive session with the House of Representatives Committee on Finance, chaired by Hon James Faleke.
According to Bello, the Commission engaged forensic experts through whom it recovered the sum of N14bn between 2008 and 2012.
Between 2012 and 2015, he explained that the Commission recovered the sum of N60.981bn for the FG.
The scoop, however, was made between 2016 and 2019, with the recovery of over N312bn, though the payment was made in the 2022 fiscal year.
Bello also disclosed that the RMAFC recovered the sum of N98bn in September 2023 from the Nigerian National Petroleum Company Limited (NNPCL), which has been fully remitted to the national coffers.
The Commission, Bello, explained, also recovered the sum of N79.102bn from Federal and eight State Ministries, Departments and Agencies in 2023.
These, he disclosed has encouraged the Commission to expand its operations to 17 more states of the Federation in a bid to recover more revenue for the FG.
The Committee also heard him declare that the Commission recovered the sum of N474 million and N199 million excise duties from two companies operating in the South West region from 2020 to 2022.
Bello pointed out that before 2011, revenues accruing from royalties and solid minerals were remitted into the Consolidated Revenue Fund.
The RMAFC boss informed the Committee that it took the it took painstaking efforts from the Commission to create the solid mineral component of the Federation Account, in November 2011.
That consequently led to the approval of a 13 percent derivative fund for States and Local Government Areas, now being apportioned according to the formula adopted.
The efforts of the Commission, also led to the approval of a 10 percent monthly payment from the Natural Resources Development Fund (NRDF), of which 1.68 percent is deducted and kept aside.
He informed the Committee that the Muhammadu Buhari administration approved the sum of N30bn for the NRDF, which is dedicated to the growth of the sector.
Hon Faleke decried the several loopholes through which the FG has been losing money and expressed a desire that the salary burden of all RMAFC Commissioners be borne by the Federation Account.
He charged Bello to revert to the Committee with concrete reports, evidencing which government agencies were culpable, though he didn’t foresee the possibility of real recovery.
He said, “As far as this committee is concerned, all those things you read out are no news. All those figures you read out are mere figures. You have no data or whatsoever to support it.”
Consequently, he directed the RMAFC chairman to provide a comprehensive report of all the agencies from which the unremitted revenues were recovered.
“If you say in 2008 and 2012, you recovered N14 billion, from where? Which agency paid? We need a comprehensive list.
“For you to get back to an agency and say you owe us $10 or N10 million, where will they get the money to pay back? When you accuse them, it means they have spent that money. So, for them to pay back, they also use government money to pay you back.
“You will give details of these recoveries, the N16.9 billion, your N312 billion, among others. We need more details.”
NEWS
Sahara Group Drives Africa’s Energy Future with Asharami Square 3.0
Sahara Group is convening policymakers, industry leaders, investors, academia, and media professionals to advance practical solutions for Africa’s evolving energy landscape.
Scheduled for Wednesday, July 22, 2026, in Lagos, this year’s Asharami Square, a flagship thought leadership platform, is themed “Energising Africa’s Future: Legacy, Impact, and Transformation.”
The platform will spotlight the ideas, partnerships, and policy frameworks required to accelerate sustainable energy development across the continent.
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Building on the success of previous editions, Asharami Square 3.0 will examine how collaboration across government, industry, finance, and the media can unlock investment, strengthen infrastructure, and expand access while supporting Africa’s energy transition.
According to Bethel Obioma, Head, Corporate Communications, Sahara Group, the platform reflects Sahara Group’s commitment to driving impactful conversations that translate into real outcomes.
“Africa’s energy future will be shaped by the strength of our partnerships and our ability to turn dialogue into action. Asharami Square continues to provide a platform for convening diverse perspectives, advancing informed discourse, and driving the decisions that will influence policy, investment, and long-term development across the continent.
As we look Beyond XXX, our focus remains on investing in the ideas, partnerships, and platforms that will help shape a sustainable energy future for Africa.”
Also speaking, Ejiro Gray, Director, Governance and Sustainability, Sahara Group, emphasised the importance of grounding energy conversations in context and practical realities.
“Africa’s energy transition must be defined by solutions that reflect our unique realities. Asharami Square plays a critical role in bridging technical expertise and public understanding, ensuring that conversations around energy, sustainability, and development are anchored in evidence, context, and impact.
Through initiatives like Asharami Square, we continue to advance our Beyond XXX philosophy by supporting credible dialogue and strengthening the ecosystems that drive sustainable progress.”
The event will feature a keynote address by Sadiq Wanka, Special Adviser to the President of Nigeria on Power Infrastructure, alongside a high-level panel including Professor Abigail Ndisika, Director, Institute of Continuing Education (ICE), University of Lagos; Temitope George, CEO, Lagos State Electricity Regulatory Commission (LASERC); Adebiyi Olusolape, Associate Editor, Africa, Argus Media; and Kemi Awodein, Managing Director, Investment Banking, Chapel Hill Denham.
A key highlight of this year’s programme will be the unveiling of the Asharami Square Energy Reporting Fellowship Judging Panel, reinforcing Sahara Group’s commitment to strengthening credible, solutions-focused journalism that deepens public understanding of Africa’s energy transition.
Since its maiden edition in 2024, Asharami Square has facilitated informed dialogue and effective media advocacy to enhance energy transition and sustainability in Africa.
Through the platform and the newly launched Asharami Energy Reporting Fellowship, Sahara Group continues to advance its Beyond XXX vision by investing in the ideas, people, and platforms that will help shape Africa’s energy future, while reinforcing its commitment to bringing energy to life responsibly.
NEWS
IPMAN Kicks as Importers Hike Prices
Critical stakeholders are lamenting that fuel importers, licensed by the Nigerian government, are selling imported premium motor spirit (PMS) also known as petrol around N200 per litre, above what local refiner, the Dangote Petroleum Refinery and Petrochemicals (DPRP) is selling.
The Independent Petroleum Marketers Association of Nigeria (IPMAN) noted that the importers including Matrix, AA Rano, Hayden among others have started pricing imported petrol significantly above the rates offered by the DPRP, raising concerns over the effectiveness of the government’s import licensing policy.
IPMAN’s National Publicity Secretary, Chinedu Ukadike, said independent marketers had expected the import licences to serve as a check on domestic fuel pricing but are now shocked to find out that the policy had failed to deliver the desired outcome.
“The independent marketers of Nigeria have looked at the price volatility, the issue of the import license, the issue of sales of petroleum products and dollar, and holistically I will want to use the opportunity to urge the federal government to look into this thing transparently through NMDPRA, who is the authority of the industry,” he said.
According to him, the recent import licences issued to marketers have not helped reduce fuel prices as anticipated.
“The recent import licenses, which are termed to be used as a guiding principle or a check to domestic petroleum products being refined here in Nigeria, is not yielding the results as was expected by the independent marketers,” he stated.
Ukadike expressed surprise that some importers were reportedly selling imported petrol at about N1,350 per litre, despite lower prices from the DPRP.
“We were shocked, even as I am talking to you now, that the licenses that have been given to AA Rano, Matrix and all the rest of them to be able to import petroleum products are trying to peg the price of petroleum products at N1,350, which is far, far distant from what Dangote has been selling to us,” he said.
He further questioned the quality and pricing of imported products, insisting that the policy was undermining the purpose for which the licences were granted.
“The essence of NNPC or NMDPRA or the federal government opening up this import license is also to checkmate the domestic price of petroleum products, whereas where we find out that these products are being brought into this country, one, their qualities are questionable, two, their prices are higher,” Ukadike added.
The IPMAN spokesman also warned that continued fuel importation at higher prices was increasing pressure on Nigeria’s foreign exchange market, with the naira approaching N1,400 to the US dollar.
He argued that imported petroleum products priced using the international PLATTS benchmark were about 20 percent more expensive than products supplied by the DPRP, making imports less competitive.
Ukadike urged the Federal Government to sustain the sale of crude oil to the Dangote refinery in naira, saying the arrangement would help stabilise domestic fuel prices, reduce demand for foreign exchange and ease pressure on the local currency.
He also cautioned against what he described as the indiscriminate issuance of import licences, warning that such a policy could ultimately lead to higher pump prices for consumers instead of promoting competition.
NEWS
Sahara Opens Kaduna, Jigawa Recycling Hubs
The Sahara Group Foundation (SGF) has expanded its waste management network and recycling infrastructure in Northern Nigeria with the commissioning of two Sahara Go Recycling hubs in Jigawa and Kaduna States.
This was detailed in a statement from the Foundation on Sunday, which had it that the hubs, located at Gidan Hakimi in Shuwarin Local Government Area of Jigawa State and Asharami Retail Station, Badiko, Kaduna South Local Government Area of Kaduna State, are the Foundation’s 21st and 22nd recycling hubs nationwide and its second and third in Northern Nigeria.
According to a statement, the Jigawa hub was delivered with the support of the King’s Council, Shuwarin, while the Kaduna hub was established in collaboration with Asharami Synergy.
The Foundation said the initiative is designed to convert waste into income-generating opportunities for households. The Director of Sahara Group Foundation, Chidilim Menakaya, said the hubs demonstrate the organisation’s approach to expanding practical sustainability initiatives through partnerships.
“By partnering with institutions and sister companies that understand local needs and realities, we are building a recycling ecosystem that communities can own, sustain, and benefit from over the long term,” she said.
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The commissioning ceremonies were attended by members of the King’s Council, the Jigawa State Commissioner for Environment, Dr Nura Doka, the Chairman of Shuwarin Local Government Area, Abdulhamid Balago, the vice chairman, community leaders and residents in Jigawa, as well as Asharami Synergy’s leadership and the Filling Station Manager in Kaduna.
Speaking at the Jigawa event, Alhaji Bashir Abdullahi, Sarkin Gabas and Hakimin Shuwarin, said the facility addresses a longstanding waste management challenge in the community.
“For years, our people have had no organised way to deal with waste beyond burning or dumping it by the roadside,” he said. “This hub gives our young people and our women a way to earn from something that used to just pollute our surroundings.”
At the Kaduna event, the Filling Station Manager of Asharami Retail Station, Badiko, Aliyu Abdullahi Mabai, said the recycling hub complements the station’s operations.
“We are glad to host this recycling hub on our premises,” he said. “It gives our customers and neighbours a simple way to recycle, and fits with what Asharami Synergy stands for as a responsible business.”
The Foundation also disclosed plans to commission another recycling hub in Kano State in the coming weeks following a recent engagement with the Emir of Kano, Muhammadu Sanusi II, who expressed interest in the initiative.
According to the Foundation, Sahara Go Recycling has supported the recycling of more than 1,000 tonnes of materials since its launch and has directly or indirectly impacted more than 2,000 livelihoods nationwide.





