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Reps panel quizzes TETFund over N250bn Grant
**Demands full Details of Beneficiaries
The Public Account Committee, (PAC) of the House of Representatives on Tuesday quizzed the Management of the Tertiary Education Trust Fund TETFund over the disbursement of the sum of N250 billion placed under the subhead ‘Grant’ as contained in its Audited Financial Report for the year ended 31st December 2019
This was based on the Audit query from the office of the Auditor General of the Federation
The Management of the Agency was led by its Director of Finance and Administration, Dr Gloria Olotu to the investigative hearing organized to consider the queries raised on its annual report as the new Executive Secretary Arc. Sonny S.T. Echono
was unavoidably absent.
The Chairman of the Committee, Rep. Busayo Oluwole Oke frowned at the absence of the Executive Secretary for failing to honour the invitation of the parliament, saying that the immediate past Executive Secretary of the Agency only appeared once warning that such attitude would no longer be tolerated
He stated that the Agency like other MDAs was being summoned in the spirit of a fair hearing to defend itself over the queries raised against it by the office of the Auditor General of the federation.
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The chairman also pointed out that the Agency would have to prove beyond reasonable doubt why it should not be sanctioned for unremitted taxes, other deductions and undisclosed reserves totalling N345.02 million within the period under review.
He added that the Agency would have to address squarely the issue of irregularities in the Agency’s disclosure of Aids and Grants as contained in the AuGF’s report totalling another eight billion nairas.
Responding, TETFund’s Olotu explained that what appeared as non-remittance of taxes and other deductions was due to the fact that such deductions were usually made in the month of December of every year and remitted in January of the following year.
She added that the N250 billion classified as Grant in the audit query was wrong as the amount represented part of the non-statutory operating funds of the agency raised from the 5% administrative cost its establishment act allows it to expend from the Education Tax.
She agreed that hitherto, the Agency was having issues properly classifying different funds available to it under correct sub-heads, but that the problem had been solved over time.
The Committee chairman however insisted on relevant documents to back up her claims, demanding among others, TETfunds budgets for the years 2018, 2019, and 2020, its projected revenue for the same period as well as evidence from the Federal Inland Service Commission, FIRS that such tax deductions were truly made and paid into government coffers.
Rep Oke also demanded for the new Executive Secretary of TETfund to appear before the Committee, after he must have been fully briefed by the management staff of the Agency as requested by the representative of the Agency.
He Consequently directed the Agency to appear before the Committee by next week Tuesday for further questioning
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.
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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.
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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.
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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.