NEWS
Senate Launch Investigation Into NNPCL Fuel Subsidy Regime
On Tuesday, the Senate established an ad hoc committee to examine the fuel subsidy system of the Nigerian National Petroleum Company Limited (NNPCL).
The decision was made after Patrick Chinwuba (APC-Imo) presented a motion during the plenary session on Tuesday.
The motion, titled “Need to Investigate the Controversial Huge Expenditure on Premium Motor Spirit (PMS) under the Subsidy/Under Recovery Regime by the Nigerian National Petroleum Company Limited (NNPCL),” prompted the formation of the committee.
During the motion presentation, Mr. Chinwuba highlighted that the federal government had announced a fuel pump price increase from N87 to a range between N135 and N145 per litre on May 11, 2016.
He said “This was in its fight against corruption and in order to plug the presumed highly proliferated leakages, wastages and slippages surrounding the fuel subsidy as well as in an attempt to end the controversial subsidy regime.
“At the inauguration of the present government on May 29, the president took a bold step to announce the total removal of fuel subsidy, noting that the scheme has increasingly favoured the rich more than the poor,”
He said the government’s interest in exiting the subsidy regime was in line with the policy of reducing the cost of governance and the desire to eliminate corrupt practices surrounding the scheme.
“The NNPCL, within the period of subsidy exit attempt, substituted the term subsidy with under recovery without any recourse to the National Assembly or supervision by any other arm of the government.
“While NNPCL within ten years, 2006 and 2015, claimed about N170 billion as under-recovery, the same NNPCL within 13 months, January 2018 to January 2019 claimed a whopping sum of N843.121 billion as under-recovery. He added.
Concerns were raised by the lawmaker regarding the uninvestigated and alarming costs of under-recovery and direct deductions by NNPCL without proper oversight which has resulted in a misunderstanding of the government’s well-intentioned motive behind subsidy removal.
Supporting the motion, Jibrin Isa (APC-Kogi) emphasized the importance of utilizing the savings generated from subsidy removal.
He said “This is where our oversight function comes to play. These monies that are going to be recovered from the discontinuance of fuel subsidy should be used to revive some of the ailing companies in particular; the Ajaokuta Steel Complex, Itakpe Iron Ore Mining Company in Kogi and Oshogbo Iron and Steel Rolling Mills in Osun.
“Those projects can create a lot of employment opportunities, create a lot of revenue for the government,”
Also, Osita Izunaso (APC-Imo) said, “We need to look at the palliatives to cushion the effects of subsidy removal.
“Much as we are going to make a lot of gains from subsidy removal, we have to look at the suffering of our people.”
Mohammed Monguno (APC-Borno) said the previous government never had the political will to withdraw the subsidy.
He said “We thank this government for taking the bull by the horn and gathering all the political will to withdraw the subsidy in the interest of Nigerians.
“We are now saving a lot of money, which we can use to deploy for revamping our infrastructure.
“In view of the hardship unleashed on Nigerians as a result of the subsidy, there is the need for government to take responsibility in cushioning the effect of the removal,” he added.
Following a voice vote conducted by Senate President Godswill Akpabio, all senators unanimously adopted the resolutions put forward in the motion.
President Bola Ahmed Tinubu will depart Abuja on Sunday, January 26, 2025, to participate in the Africa Heads of State Energy Summit in Dar es Salaam, Tanzania.
The two-day summit, scheduled for January 27-28, 2025, is aimed at advancing “Mission 300,” a pan-African initiative to provide electricity to 300 million people across the continent by 2030.
Hosted by the Tanzanian government in collaboration with the African Development Bank Group and the World Bank, the summit will bring together African leaders, private sector stakeholders, development partners, and civil society organizations.
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The goal is to develop strategies for accelerating energy access in underserved regions, increasing renewable energy adoption, and mobilizing private sector investment.
According to a statement released on Saturday by Bayo Onanuga, Special Adviser to the President, the summit will serve as a platform for sharing expertise, knowledge, and resources to address Africa’s energy challenges.
The first day of the summit will feature ministerial-level discussions, during which participating nations, including Nigeria, will present their national energy strategies, or “compacts,” detailing their plans to achieve universal energy access within five years.
On the second day, African Heads of State will sign the Dar es Salaam Energy Declaration, a unified roadmap for achieving the goals of Mission 300.
President Tinubu is expected to deliver a national statement reaffirming Nigeria’s commitment to universal energy access and its leadership role in the continent’s energy sector.
He will also highlight Nigeria’s ongoing clean energy initiatives and integrated energy delivery strategies aimed at fostering sustainable development across Africa.
Accompanying the president will be key government officials, including Minister of State for Foreign Affairs Ambassador Bianca Odumegwu-Ojukwu, Minister of Power Adebayo Adelabu, and Special Adviser to the President on Energy Olu Verheijen.
President Tinubu is set to return to Abuja immediately after the summit concludes.
The menace of illegal migration is getting diplomatic attention from the Italian authorities and the Edo State Government.
The Chief Press Secretary to Edo State Governor, Fred Itua divulged this in a government house statement issued in Benin City on Saturday.
He explained that the Coordinator, Office of the First Lady, Edesili Anani had expressed the readiness of the Governor, Monday Okpebholo-led administration to tackle the menace of irregular migration among youths in the state.
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It was gathered that Anani made the stance public on Friday in Government House, Benin City, when Dr. Alberto Cilala, a consultant to the European Union and President of Mattei Africa for Humanitarian Aids Initiative in Italy, led a delegation to her office.
Welcoming the delegation, she highlighted the importance of collaboration to address the challenges posed by irregular migration.
The Coordinator expressed her gratitude to the delegation, and emphasized the transformative impact the partnership will bring to Edo State.
In her words, “This initiative will reduce unemployment, create job opportunities, and address human trafficking and irregular migration. It will also enhance education, skills acquisition, agricultural investment, and infrastructural development for our people.”
On his part, Dr. Cilala emphasized that the Mattei Plan would provide valuable skills to Edo State residents, including tailoring, furniture-making, shoemaking, and more.
“The Mattei Plan was launched by the Italian Government with a focus on six key sectors: education and training, health, security, agriculture, and renewable energy. The goal is to promote integrated development and improve living conditions, particularly in rural areas.
“These projects will be fully funded by the Italian Government through the Ministry of Foreign Affairs and Labour,” he stated.
Former Senior Special Assistant to the Edo State Government on Anti-Human Trafficking and Irregular Migration, Solomon Okoduwa, in his remarks, said the Mattei Plan prioritizes practical measures to reduce irregular migration and human trafficking.
“Although nine African countries are involved in this initiative, Edo State is a crucial partner for Italy. This partnership will strengthen bilateral relations under the leadership of His Excellency, Senator Monday Okpebholo,” he said.
Brand Ambassador of the Mattei Plan, Olorogun John Paul, popularly known as Daddy Showkey was at the event and lauded the initiative.
He noted, “This program provides an opportunity for Edo State beneficiaries to gain training in various skills, equipping them for sustainable livelihoods.”
Supporters of the impeached Speaker of the Lagos State House of Assembly, Mudashiru Obasa, on Saturday morning stormed the Speaker’s Lodge located at 47 Joel Ogunnaike Street, GRA Ikeja, Lagos.
The supporters, dressed in pro-Obasa vests and caps, arrived in large numbers at the premises.
According to multiple sources, the group was planning a “heroic welcome” for the former Speaker, who was recently removed from office by a majority of lawmakers in the House.
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Obasa, who was out of the country at the time of his impeachment, was replaced by the former deputy speaker, Mojisola Meranda.
Since her emergence as Speaker, Meranda has presided over two sittings, with Obasa absent from both.
The choice of the Speaker’s Lodge as the location for Obasa’s supposed welcome sparked controversy, as he is no longer officially entitled to the property following his removal.
A resident in the area expressed surprise over the situation, saying, “I didn’t expect that the lodge would be opened for them.”
Armed security personnel, including police officers, were deployed to the area to maintain order and prevent any potential disruption.
As of the time of filing this report, Obasa had yet to arrive at the lodge.
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