NEWS
Senate approves N17.3tr 2022 Revised budget, raises recurrent expenditure by N198.77bn
**Okays N4trn subsidy, increases oil benchmark to $73
The National Assembly on Thursday passed an aggregate expenditure of N17.3 trillion as the revised budget for the 2022 fiscal year which mainly raised recurrent expenditure by Nl98.77bn while capital expenditure remained the same.
The amount represented an increase of N192.5 billion from the N17.1 trillion approved and assented to last December.
The passage came after the consideration of a report by the Appropriations Committee on the 2022 Appropriations Bill in both chambers.
Out of the N17.3 trillion passed, N817.6 billion is for Statutory Transfer; N7.1 trillion is for Recurrent Expenditure; Capital Expenditure remained at N5.4 trillion, while N3.97 is for Debt Service.
The parliament also approved a revised 2022 fiscal framework, raising the oil benchmark to US$73 as proposed by President Muhammadu Buhari.
The national assembly oil production volume of 1.600 million per day; Petroleum Motor Spirit (PMS) subsidy of N4.00 trillion (NGN); and a cut in the provision for Federally-funded upstream projects being implemented by N200 billion from N352.80.
The two chambers also approved the fiscal deficit of N7.35 trillion, an increase of N965.42 billion, representing 3.99% of Gross Domestic Product (GDP).
The incremental deficit, it said, would be financed by new borrowings from the domestic market.
The lawmakers also raised the budget of the National Assembly and its agencies to N153 billion from the earlier N139 billion.
The breakdown of the National Assembly votes in the 2022 revised budget are:
While approving an increase in the Federal Government Independent Revenue of N400 billion, the chambers gave its approval for an additional provision of N182.4 billion to cater to the needs of the Nigeria Police Force.
It approved net reductions in Statutory Transfers by N66.07 billion.
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A breakdown of the net reductions is as follows: NDDC, by N13.46 billion from N102.78 billion to N89.32 billion; NEDC, by N6.30 billion from N48.08 billion to N41.78 billion; and UBEC, by N23.16 billion from N112.29 billion to N89.13 billion.
Others are Basic Health Care Fund, by N11.58 billion from N56.14 billion to N44.56 billion; and NASENI, by N11.58 billion from N56.14 billion to N44.56 billion.
President Buhari, in a letter dated 5th April 2022, requested the National Assembly to adjust the 2022 fiscal framework.
He said doing so became necessary in view of new developments in both the global and domestic economies.
Lawmakers, who took turns to make contributions during consideration of the report on the review of the 2022 fiscal framework, blamed the country’s economic downturn on crude oil theft.
Senator Olubunmi Adetunmbi (Ekiti North), said the federal government and security agencies owe it as a duty to stop the stealing of our commonwealth.
He lamented that at a time when most countries of the world are reaping bountiful harvest due to the increase in crude oil prices occasioned by the Russia-Ukrainian crisis, Nigeria is left out owing to its inability to meet its OPEC quota.
The Senate Leader, Yahaya Abdullahi, who spoke along the same lines as Adetunmbi, said the country should be in a state of mourning over what is currently happening to it.
He attributed the failure of security agencies to protect oil assets as a major reason for the decline of the economy.
He expressed worry over the increasing cases of oil theft in spite of huge resources allocated to the military, police, and other security agencies.
Senate President Ahmad Lawan, in his remarks, called on the Federal Government to take “radical” steps toward stopping the theft of crude oil by economic saboteurs.
He also called for a stop to the importation of refined petroleum products into the country, so as to cut down on expenditures incurred in the process, as well as to maximize profits from crude oil sales.
“This (crude theft) is not something to play politics with, and I don’t think the answers are going to be easy to come by.
“Radical decisions would have be taken, but before we find answers we have to live with this, but we have to be fast as possible in looking for answers.
“I had a session with the Chief of Defence Staff about a month ago, and my discussion with him was on the oil theft and the efforts of our security agencies to combat this menace.
“And like we know, our security agencies are doing their best but we have people – our people – who are sabotaging the oil industry because the oil theft is not perpetrated by somebody else but by people who are citizens.
“I also believe that, whether there is oil theft or not, until we stop the importation of refined products to Nigeria, we will never get the best out of the oil and gas industry,” Lawan said.
Recall that the National Assembly in December 2021, had approved the sum of N442.7 billion for subsidy in the 2022 budget for the period of January to June this year.
Buhari, however, anchored his fresh request on the fact that PMS subsidy was not duly appropriated for in the national budget beyond June.
According to him, the development was as a result of the provisions of the Petroleum Industry Act which stops all such payments past the given June deadline.
In another letter dated 12th April 2022, President Buhari requested the National Assembly to approve an additional N1 trillion to his earlier N2.557 subsidy request to bring the total amount on payments to N4 trillion for the year 2022.
He explained that the additional request was against the backdrop of adjustments to the 2022 fiscal framework which became imperative due to market developments occasioned by the spike in crude prices, following the Russian-Ukrainian war.
The chamber, accordingly, approved the President’s request for an additional N3.557 trillion for PMS subsidy with the passage of the 2022 Appropriations Act (Amendment) Bill, Thursday.
It also approved the N192.52 billion aggregate increase sought by the executive, and an additional provision of N182.45 billion to cater to the needs of the Nigerian Police Force to enhance their morale.
The Senate, after passing the 2022 Appropriations Act (Amendment) Bill, adjourned till the 26th of April, 2021.
NEWS
FG Approves Biggest NYSC Overhaul in 53 Years, Introduces Civilian Leadership, New Uniform
The Federal Government has approved the most comprehensive overhaul of the National Youth Service Corps (NYSC) since its establishment 53 years ago, introducing a civilian leadership structure, a redesigned uniform, and several reforms aimed at making the scheme more relevant to Nigeria’s economic and youth development goals.
The approval was granted during the Federal Executive Council (FEC) meeting held on Monday in Abuja.
A major highlight of the reforms is the replacement of the military leadership of the NYSC with a civilian operational head, while the military will continue to provide security support for corps members across the country.
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To pave the way for the implementation of the reforms, the FEC directed the Attorney-General of the Federation and the Federal Ministry of Youth Development to amend the NYSC Act and other relevant regulations to provide legal backing for the changes.
Announcing the development, the Minister of Youth Development, Ayodele Olawande, described the overhaul as the first holistic review of the NYSC in its 53-year history.
According to him, the reforms are designed to transform the scheme into a skills-driven, productivity-focused institution that aligns with President Bola Tinubu’s vision of building a $1 trillion economy.
The reforms include a technology-driven call-up process, risk-sensitive deployment to enhance the safety of corps members, and a redesigned six-week orientation programme with greater emphasis on leadership, entrepreneurship, digital skills, and specialised career pathways.
The government also approved skills-based primary assignments that match corps members’ academic qualifications and career aspirations, improved orientation camp standards through a national grading and certification system, a new graduation ceremony to replace the traditional Passing Out Parade, and a redesigned NYSC uniform aimed at promoting professionalism and national pride.
Olawande said the reform process began in 2025 following extensive consultations involving the Federal Ministry of Youth Development, the Federal Ministry of Education, and the Office of the Special Adviser to the President on Policy and Coordination before receiving final approval from the Federal Executive Council.
He described the reforms as an investment in Nigeria’s youth, expressing confidence that the changes would make the NYSC more impactful and better positioned to equip young Nigerians with practical skills for the future.
Established in 1973 after the Nigerian Civil War, the NYSC was created to promote national unity by deploying graduates to states outside their regions of origin for one year of compulsory national service.
The latest reforms represent the first comprehensive review of the scheme since its creation.
NEWS
Ogun Govt Reveals Real Cause of Strange Gas Emissions in Schools
The Ogun State Government has explained the cause of the recent gas emissions that sparked panic in some schools across Ijebu-Ode, attributing the incidents to natural underground geological activity rather than spiritual causes or security threats.
The clarification was made during a stakeholders’ meeting in Ijebu-Ode Local Government Area, where the Commissioners for Environment, Ola Oresanya, and Health, Dr. Tomi Coker, met with parents, school administrators and development partners to provide updates on the government’s investigation.
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According to Oresanya, scientific investigations identified methane and sulphide gases escaping through underground fractures along established fault lines as the source of the emissions.
He explained that the affected communities are located along the Ifewara-Zungeru Trans-Atlantic fault line, which stretches from Mojoda through Ijebu-Ode and extends into Osun and Niger states.
He said findings linked the fault line to the locations where the gas emissions were recorded, including the affected schools. Oresanya noted that the area was historically forested and largely uninhabited before missionary schools were established there.
The commissioner disclosed that laboratory analyses are ongoing to determine whether the gases are thermogenic or methanogenic in origin.
He also revealed that the state government is investigating the possibility that Ijebu-Ode may sit on significant natural gas deposits beneath the affected communities.
Commissioner for Health, Dr. Tomi Coker, urged residents to remain calm and adhere to safety precautions whenever gas emissions occur.
She advised residents to cover their noses with wet handkerchiefs instead of face masks and encouraged anyone requiring urgent medical attention to contact the state’s emergency health line, 08112000033.
Also speaking, the Commissioner for Education, Science and Technology, Prof. Abayomi Arigbadu, assured parents that the affected schools would only reopen after consultations with relevant stakeholders and the completion of necessary safety assessments.
The Head of the Department of Earth Sciences at Olabisi Onabanjo University, Prof. Philip Ikhane, also appealed for calm, advising residents to minimise activities such as borehole drilling and quarry blasting, warning that such activities could worsen the effects of the existing fault lines.
The Ogun State Government reaffirmed its commitment to protecting lives and property, urging residents and school authorities to promptly report any future gas emissions while investigations continue.
NEWS
‘No Gov’t Can Truly Understand Nigeria’s Economy Without Employers’ – Shettima
Vice President Kashim Shettima has said that no government can fully understand or effectively manage Nigeria’s economy if it fails to engage employers and the organised private sector.
Speaking on Monday at the 5th Nigerian Employers’ Summit in Abuja, the Vice President said the Federal Government is committed to maintaining open dialogue with businesses while removing bureaucratic bottlenecks that hinder economic growth.
Represented by the Special Adviser to the President on General Duties and former Minister of the Federal Capital Territory (FCT), Dr. Aliyu Modibbo Umar, Shettima said reforms announced by the government must be experienced by businesses across the country, including Lagos, Kano, Aba and other commercial hubs.
SEE ALSO: VP Shettima insists tax reforms will improve lives and not impoverish Nigerians
According to him, the summit comes at a crucial time as Nigeria faces key economic challenges requiring practical solutions and stronger collaboration between government and the private sector.
“The private sector cannot compete on sentiment. It competes on functional infrastructure, predictable policies, fair taxation and reliable energy,” he said.
Shettima commended President Bola Ahmed Tinubu for taking difficult economic decisions, saying true leadership requires the courage to implement reforms that lay the foundation for sustainable prosperity.
He explained that the removal of fuel subsidy, foreign exchange reforms and fiscal policy changes were necessary to restore macroeconomic stability, rebuild investor confidence and create an environment where businesses can thrive.
The Vice President noted that businesses are not opposed to paying taxes but are concerned about multiple taxation, regulatory bottlenecks and policies that increase the cost of doing business.
“Our agenda reduces the number of taxes, harmonises administration, protects the vulnerable, supports small businesses and encourages compliance by lowering rates while widening the tax base needed to fund infrastructure,” he stated.
He also reaffirmed the government’s commitment to digitising public services and simplifying approval processes to ensure businesses experience the benefits of ongoing reforms without unnecessary delays.
In his welcome address, the Director-General of the Nigeria Employers’ Consultative Association (NECA), Adewale Oyerinde, said the Employers’ Summit has consistently produced practical policy recommendations that have helped shape government policies over the past five years.
Oyerinde also announced that from 2027, the Nigerian Employers’ Summit will be expanded into the International Employers’ Summit, bringing together employers and stakeholders from across Africa and other parts of the world.





