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Obi Considers Tinubu’s 2024 Fiscal Budget ‘Crazy’

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2023 Presidency: Obasanjo's Endorsement Of Peter Obi Worthless - APC Presidential Campaign Council

 

. . . Laments Frivolous Allocation Of Over N20bn For VP’s House

 

Presidential Candidate of the Labour Party in the 2023 elections, Peter Obi has put the proposed 2024 budget of the President Bola Ahmed Tinubu administration under the microscope, lamenting the crazy wastefulness enshrined therein.

Obi claimed that he was still studying the document, which is being hurriedly passed by the National Assembly, took to his verified X handle to express grave concerns that priorities were being misplaced.

He expressed firm conviction that something was fundamentally wrong with the way Nigeria was being led at the moment, drawing examples from the provision for housing the Vice President, Kashim Shettima Mustapha.

According to Obi, “I am compelled to ask: what is exactly wrong with us as a country?”

It beat Obi’s imagination why budgetary allocation for housing Mustapha would cover the cost of annual salaries for 3,000 professors, when Nigeria was in dire need of human capital development, healthcare, while grappling with unemployment and underemployment challenges.

He pointed out that Nigeria, “budgeted the sum of N20.5 billion for the housing of the Vice President,” while maintaining the status of “the world’s poverty capital”, yet “more people are falling into poverty”, at such speed that several “Nigerians not knowing where their next meal will come from”.

Obi pointed to the state of health facilities in Nigeria and level of unemployment and wondered what such a colossal amount could do in such critical areas.

He lamented “that 99.9% of Nigerians can only dream of living in the current residence of the Vice President,” while some even the in employment of the Federal Government are not being paid.

In his analyses, Obi noted that “the salary of a professor in a Nigerian university is about N400,000, which without removing tax is about N5 million a year.

“What we have budgeted for the housing of the Vice President who is already luxuriously housed is, therefore, the annual salary of about 3000 professors!”

He made examples of quality decisions made by past leaders like late Gen Murtala Mohammed, who turned down land allocated for his presidential mansion and ordered that it should be developed into the popular 1004 flats in the Victoria Island area of Lagos.

“We have had leaders that were exemplary in the past.

“Most Nigerians may not know that the popular 1004 flats in Lagos, was a land allocated for the building of a Presidential Mansion for the then Head of State, General Murtala Mohammed.

“He sternly turned down the offer and instructed that the land should be used to build blocks of flats for civil servants.

Below is the full text of what Obi wrote on X in a series of tweets.

Obi wrote, “Even as I am still studying the 2024 fiscal budget as presented to the National Assembly last week, I cannot wait as I am compelled to ask: what is exactly wrong with us as a country?

“I ask this question because it is hard for me to understand some of the recent happenings in our nation, in these critical times. The recent news about a budget provision of N15 billion for the construction of a new residence for the Vice President is both shocking and disheartening, considering the many important challenges facing our nation.

“Just recently in the Supplementary Budget, the sum of N2.5 billion was included for the renovation of the Vice President’s residence in Abuja, which means that he already has a residence.

“Again, during the budget presentation, I heard the sum of N3 billion was allocated for the renovation of the Vice President’s residence in Lagos.

“If we total all these sums, we would have budgeted the sum of N20.5 billion for the housing of the Vice President at this critical time when we are not just the world’s poverty capital, but more people are falling into poverty, with so many Nigerians not knowing where their next meal will come from.

“Our health facilities have collapsed, and unemployment is skyrocketing.

“I am convinced that 99.9% of Nigerians can only dream of living in the current residence of the Vice President. Several people employed in the universities are not being paid.

“Just to give an example, the salary of a professor in a Nigerian university is about N400,000, which without removing tax is about N5 million a year.

“What we have budgeted for the housing of the Vice President who is already luxuriously housed is, therefore, the annual salary of about 3000 professors! This is the finance needed to develop the much-needed human capital.

“The budget of N5 billion for student loans, which is yet to be disbursed is only a tiny percentage of the cost of the Vice President’s new home.

“We are projecting to use four times the amount for educating ALL Nigerian indigent students to house the Vice President, and we are being told there is nothing wrong with us.

“I am sure the major teaching hospitals in Nsukka, Lagos, Ibadan, and Zaria did not receive this much capital vote in the budget this year.

“We have had leaders that were exemplary in the past.

“Most Nigerians may not know that the popular 1004 flats in Lagos, was a land allocated for the building of a Presidential Mansion for the then Head of State, General Murtala Mohammed.

“He sternly turned down the offer and instructed that the land should be used to build blocks of flats for civil servants.

“That is the kind of sacrificial leadership worth emulating. Our leaders must therefore stop the recklessness and insensitivity to the plight of the masses.

“We need leaders who show compassion and are willing to sacrifice for common progress and development. Such compassionate and frugal leaders are critical in our journey to the New Nigeria. –PO”

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NUPRC Dispels Recruitment Rumours

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The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has dispelled recruitment rumours, cautioning the public against fake and AI-generated employment letters being circulated in its name.

It went further to issue a caveat against fraudsters allegedly demanding money from unsuspecting members of the public under the guise of helping them secure jobs at the NUPRC.

The warning was contained in a statement issued by the NUPRC Head of Media and Corporate Communications, Eniola Akinkuotu, on X on Tuesday.

According to the commission, it had received reports of fake employment letters bearing the names of people unknown to the organisation.

READ ALSO: Africa Needs More Refineries to Complement DPRP — Lokpobiri

It also said some criminal elements had been extorting money from members of the public by falsely claiming to have connections that could secure employment at the commission.

The NUPRC said it had reported the activities of the suspected fraudsters to law enforcement agencies for investigation.

The commission urged members of the public to exercise caution and verify any employment-related information before taking action or making payments.

“The NUPRC wishes to inform the general public about the proliferation of fake and AI-generated employment letters bearing the names of persons unknown to the Commission,” the statement said.

The commission added that reports had also reached it that “some unscrupulous and criminal elements have been extorting money from unsuspecting members of the public under the pretext of helping them to secure employment at the Commission.”

The NUPRC said the activities of the suspected fraudsters had been reported to law enforcement agencies, with the commission awaiting the outcome of the investigation.

It, however, stated categorically that there was currently no recruitment exercise ongoing at the commission.

“The NUPRC states categorically that there is no ongoing recruitment exercise at the Commission,” it said.

The commission further explained that whenever it decides to recruit, the process would be conducted in accordance with applicable laws and government regulations.

“However, when the Commission does decide to recruit, it will be done strictly in line with the extant laws and government regulations,” it added.

The NUPRC therefore advised job seekers and other members of the public to be wary of individuals requesting money or presenting questionable employment documents purportedly issued by the commission.

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NCDMB Embarks on Emergency Preparedness Awareness Campaign

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Following the rising cases of fire incidents, building collapses and accidents across the country, the Nigerian Content Development and Monitoring Board (NCDMB) has commenced a specialised Emergency Preparedness and Fire Prevention Awareness programme aimed at sensitising Nigerians on practical response to such incidents.

Speaking during the Lagos State edition of the training, Managing Director of Matosi Nigeria Limited, Mr. Tosan Bolorunfe, the consultant for the programme, said emergency preparedness had become a serious national issue requiring deliberate attention from both public and private sector stakeholders.

According to him, “Fire incidents, workplace accidents, panic during emergencies, poor response coordination and lack of basic safety awareness continue to cause avoidable losses across homes, offices, hotels, markets, public facilities and industrial sites.”

Bolorunfe stressed that a society that waits for disaster before discussing safety is already late, noting that the first few minutes of an emergency are often the most critical.

“Many lives are not lost because help does not exist. Many lives are lost because people do not know what to do in the first few critical minutes,” he said.

“When people are safer, businesses are stronger. When workplaces are prepared, productivity is protected. When communities understand emergency response, lives are preserved.”

READ ALSO: Africa Needs More Refineries to Complement DPRP — Lokpobiri

He observed that many Nigerians are often forced into panic and prayer during emergencies, not because they do not care about safety, but because they have not been adequately exposed to practical emergency response training.

“In many emergency situations, people resort to prayer because they genuinely do not know the next practical step to take. Prayer is important, but preparedness is also a responsibility. People need to know who should act, what to switch off, where to go, who to call, and how to evacuate safely,” he said.

Bolorunfe added that emergency preparedness training must go beyond classroom presentations, stressing that practical demonstrations and real-life scenarios are essential to effective learning.

“Training adults, especially on emergency subjects, requires more than reading slides. It requires experience, clarity, discipline and the ability to connect knowledge to real-life situations,” he said.

He commended NCDMB for supporting the initiative, describing the programme as a practical capacity-building intervention that aligns with the Board’s broader commitment to human capital development and safety awareness.

He also advised organisations and institutions not to wait for accidents before investing in emergency readiness.

“To government agencies, private sector operators and community leaders, safety training should not be optional. It should be deliberate, repeated and practical. All stakeholders must begin to treat emergency preparedness as a national productivity issue, a community protection issue, and a human responsibility,” Bolorunfe said.

The Lagos training featured classroom sessions, interactive discussions, practical demonstrations, controlled fire response exercises, fire extinguisher handling, first aid awareness and emergency response sensitisation for nominated participants.

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Africa Needs More Refineries to Complement DPRP — Lokpobiri

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It has been observed that the Dangote Petroleum Refinery and Petrochemicals (DPRP) alone cannot meet Africa’s growing demand for refined petroleum products.

Nigeria’s Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, expressed the view, urging local and international investors to pour more capital into Nigeria’s refining, midstream and downstream sectors.

He maintained that Nigeria must build on the success of the DPRP and attract additional investments, to demonstrate eagerness to move beyond supplying the West African market and become a major refined petroleum products hub for the African continent.

Lokpobiri spoke on Tuesday at the second West Africa Refined Fuel Market Conference in Abuja, where regulators, refiners, traders, financiers and other energy industry stakeholders gathered to advance plans for a transparent regional pricing system for refined petroleum products.

READ ALSO: Nigeria Can’t Achieve Electoral Reforms Without Effective Democracy Communication

The conference was jointly hosted by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), S&P Global Commodity Insights and the West Africa Regulators Forum (WARF).

It was themed, “Funding West Africa Infrastructure & Distribution to Create a Transparent Market for Regional Price Benchmarks.”

The minister described the conference as a turning point in Africa’s pursuit of greater energy sovereignty, saying Nigeria must now build on the progress recorded in its refining and midstream sectors.

He said the DPRP had demonstrated what could be achieved through private-sector investment but stressed that its growing capacity would still not be sufficient.

“The Dangote Refinery is not enough. Despite the fact that the refinery is increasing its refining capacity to 1.4 million barrels. But it is not enough for the African continent.

“It’s the final capacity to open for middle buyers to be able to sell this entire African continent on top of the entire world,” Lokpobiri said.

The minister called on investors with capital to seize the opportunity presented by Nigeria’s expanding energy market, saying the country was strategically positioned to serve both regional and international markets.

He said Nigeria’s location also offered an advantage because the country was not directly dependent on the Strait of Hormuz for its crude and petroleum product supply routes.

The minister added, “It’s the best time for us to attract as many investors as we can. Not just into the upstream, but into the midstream, and then the downstream.”

He said Nigeria must move beyond the traditional model of exporting raw commodities and importing processed products, arguing that the country’s growing refining capacity provided an opportunity to change the pattern.

Lokpobiri urged stakeholders to replicate the success recorded by the DPRP by attracting more investment into domestic processing.

He said Nigeria should not be content with capturing the West African market but should position to serve the wider African market.

Lokpobiri recalled that European demand for the DPRP’s jet fuel had affected local market conditions, pointing out that the development is a great example of the need to deepen domestic refining capacity and develop pricing structures that could respond appropriately to market forces.

He assured stakeholders that the Federal Government would continue to support the development of a regional petroleum market and the institutions required to make it work.

He said the objective was not merely to increase Nigeria’s refining output but to develop the infrastructure, regulatory framework and pricing system required to turn the country into a major African energy hub.

Also speaking, the Special Adviser to the President on Energy, Olu Verheijen, said West Africa was not short of energy resources or demand but was constrained by fragmented markets and inadequate infrastructure.

She said Nigeria’s growing refining capacity and declining dependence on imported petrol had created an opportunity for the country to serve as an anchor for a more integrated regional petroleum market.

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