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Subsidy removal: Senate summons Kyari over fuel subsidy expenditure

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The Senate on Tuesday resolved to invite the Group Chief Executive Officer (GCEO) of Nigeria National Petroleum Company Limited (NNPCL) to brief them on its under recovery expenditures and the company’s position on subsidy removal of the present administration.

This was coming after the adoption of a motion on the “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)”.

The motion was sponsored by  Senator Chinwuba Patrick (Imo East).

The Senate also resolved to “mandate the Committee on Downstream Petroleum Sector (when constituted) to constantly monitor, scrutinize and approve Midstream and Downstream spending of the NNPCIL; and

“Urge the NNPCL, in conjunction with some major international oil companies (IOCs) in Nigeria, to form three different consortium and build three refineries, one each to stabilize our oil market, give value to our currency and stabilize our economy.

Earlier Senator Chinwuba noted that the Federal Government, 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, on May 11, 2016, announced increase in fuel pump price from N87 to between N135 and N145 per litre.

He said at the inauguration of the present Government on May 29, 2023, the President took a bold step to announce the total removal of “fuel subsidy”, noting that the scheme has “increasingly favoured the rich ¾more than the poor”.

According to the Imo senator, the Federal Government’s interest in exiting the subsidy regime was in line with its policy to reduce cost of governance, and desire to eliminate corrupt practices surrounding the scheme through diversion and smuggling of the products into border countries as well as introduce fair competition in the Downstream Sector.

“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.

He observed that “while NNPCL within 10 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 N843.121billion as under recovery

“Concerned that the then Petroleum Product Pricing Regulatory Agency (PPPRA) published in its website, figures that contradicted NNPCL’s daily under recovery claims within the same period;

“The Federal Government appropriated N1.42 trillion and N4.3 trillion for petrol subsidy in 2021 and 2022 respectively while N3.6 trillion was appropriated for petrol subsidy for 6 months ending in June, 2023

“Worried that the NNPCL’s arbitrary and unsupervised direct deductions from the country’s crude oil revenue without recourse to any enabling law contravenes Section 89 (1c and 1d) of the 1999 Constitution (as amended) and does not speak well of the good intentions of the Federal Government, especially in its fight against corruption.

“Also worried that the uninvestigated and alarming cost of under recovery/direct deductions by NNPCL without necessary checks, has led to great misunderstanding of the Government’s good intension on subsidy removal”.

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Obidient Movement Denounces Fake Social Media Posts Targeting Senator Datti-Baba Ahmed

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Senator Datti-Baba Ahmed

The Obidient Movement, led by Dr. Yunusa Tanko, has issued a press statement condemning the circulation of false social media posts attributed to Senator Datti-Baba Ahmed. The fabricated posts, which have gone viral, are described as part of a deliberate smear campaign aimed at damaging the Senator’s reputation.

The movement clarified that Senator Datti-Baba Ahmed does not operate any social media accounts, making all attributed posts entirely baseless. During a recent press conference, the Senator unequivocally dissociated himself from these claims and urged the public to disregard them.

“This is a targeted attempt to tarnish the Senator’s image and credibility,” Dr. Tanko stated.

The Obidient Movement has called on its supporters and the public to remain vigilant and proactive in addressing the issue. They urged people to ignore, counter, and report the false posts whenever they appear.

The statement concluded with an appeal for continued support and collaboration in combating misinformation, reinforcing the movement’s commitment to truth and integrity.

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Senate Approves President Tinubu’s N1.767 Trillion Loan Request

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The Senate has granted approval for a $2.09 billion (N1.767 trillion) loan requested by President Bola Tinubu to address the N9.7 trillion deficit in the N28.7 trillion 2024 budget. The decision was made during Thursday’s plenary, just 48 hours after the request was submitted to the National Assembly.

President Tinubu, in letters to both chambers of the legislature earlier this week, highlighted the importance of the loan for financing key projects and programs critical to national development.

Following the request, the Senate assigned its Committee on Local and Foreign Debts, led by Senator Aliyu Wammako (APC, Sokoto North), to review the proposal. Presenting the committee’s report, Senator Wammako described the loan as vital for implementing the Debt Management Strategy, reducing borrowing costs, extending debt maturity, and bolstering Nigeria’s external reserves.

The committee recommended raising the loan through Eurobonds or similar international financing instruments, subject to market conditions. It also suggested that any excess funds from exchange rate adjustments be directed toward capital projects in 2024 to support infrastructure and economic growth.

The Senate approved the loan unanimously, with no objections raised during deliberations. Deputy Senate President Jibrin Barau, who presided over the session, commended the Wammako-led committee for its swift and thorough handling of the proposal.

This loan approval is part of the government’s broader strategy to bridge fiscal gaps while focusing on developmental priorities and economic stability.

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Finland Detains Pro-Biafra Agitator Simon Ekpa on Terrorism Charges

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Simon Ekpa

Simon Ekpa, a Finland-based pro-Biafra agitator, has been arrested and detained by the Päijät-Häme District Court in Finland on charges of inciting public crimes with terrorist intent.

The alleged offence reportedly occurred in Lahti on August 23, 2021. Finnish authorities apprehended Ekpa on Monday, November 19, marking another chapter in his history of legal confrontations.

A source confirmed Ekpa’s arrest, noting, “He was arrested three days ago. But this is not the first time. He will likely be questioned and released soon.” Ekpa was previously detained in 2023 on suspicion of fundraising fraud but was released the same evening.

The Finnish National Bureau of Investigation (NBI) has also requested the detention of four additional suspects in connection with terrorism-related charges.

Ekpa has gained notoriety for his leadership of a Nigerian separatist group advocating for an independent Biafran state in southeastern Nigeria. Finnish authorities allege that he used social media platforms to coordinate actions that resulted in violence against civilians and authorities in Nigeria.

Detective Chief Inspector Otto Hiltunen of the NBI stated that the investigation focuses on a Finnish citizen of Nigerian descent, born in the 1980s, suspected of public incitement to crimes with terrorist intent.

Meanwhile, the Nigerian government has continued to engage the Finnish government through the European Union (EU) to extradite Ekpa. In August, Nigeria’s Defence Headquarters emphasized the dual approach of diplomatic engagement and sustained military operations against the Indigenous People of Biafra (IPOB) and its armed wing, the Eastern Security Network (ESN).

Director of Defence Media Operations, Major General Edward Buba, reiterated the government’s resolve, saying, “The FG would respond appropriately to the Finnish Government through the EU. On the part of the military, troops would sustain operations against IPOB/ESN.”

Ekpa, who has represented Finland’s National Coalition Party (NCP) in local government, currently serves on Lahti’s public transport committee. Finnish authorities continue to investigate his activities, emphasizing the potential connection between his leadership role in the separatist movement and violent actions in Nigeria.

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