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Finance minister projects 2024 non-oil remittances to surpass N13tr posted in 2023

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Non-oil revenue remittances by Federal Government agencies in 2024 will surpass the N13tr recorded at the end of 2023, Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun has indicated.

Edun who made the disclosure on Wednesday in Abuja, said in January alone, over N100b was remitted.
The finance minister spoke when he appeared before the Senate Committee on Finance chaired by Senator Sani Musa.
Edun noted that compared to the same period in 2023, only N20bn was remitted into the Consolidated Revenue Fund of the Federal Government.
The committee is investigating the “Remittance of Internally Generated Revenue by MDAs and Evidence of Payment of 1% Stamp Duty into the Consolidated Revenue Fund Account from 2020-2023.”
The minister explained that while remitted revenue from June to December 2023 stood at N3.6tn, the total collection for the 12 months in the year was N13tn.

He told the committee members that due to policies introduced by the present admyof President Bola Tinubu, including digitalising operations for speedy transactions, the government wad looking forward to higher non-oil revenue output by the end of December, 2024.

“What we can see is a substantial increase in remittances by MDAs and revenue generation agencies.

“We will keep this up and there will be a time we can give further data on this to the committee and the National Assembly”, the minister added.

Edun also spoke on the government’s 1 per cent Stamp Duty collection, saying that a total of N53bn remitted in 2023 or an average of N3.7bn every month.

Explaining further the minister indicated that the final tally exceeded the target of N44bn set by the National Assembly.

“This, I will say was a positive development. N44bn was approved by the National Assembly, and the actual collection was N53bn”, he told lawmakers.

Speaking on the capital and recurrent budget performance for 2023 and first quarter of 2024, Edun informed the lawmakers that N2.9tn was the capital spending in 2023.

For 2024, he disclosed that first quarter capital releases so far stood at N124bn, while N581bn had been spent on salaries and other recurrent expenditure, aside from the N71bn released for overhead costs.

When asked about the N3.7tn the government allegedly lost to import duty waivers in 2023, Edun who corroborated the records of the Nigeria Customs Service (NCS), said the current administration had introduced a new duty waiver policy to plug leakages or losses.

The minister said this time round, all import duties would first be paid in full, while waivers would later be deducted and paid to the affected importers.

He explained that paying the duties before deducting the waivers would address “the uncertainty on the process works”, adding that the old method of waiver application would be stopped and replaced by automation.

On measures to revamp the economy, Edun told the committee that the government has done a lot, including initiatives at stabilizing the naira against the dollar and the implementation of a more transparent social welfare scheme for the citizenry.

For instance, he said one of the major errors of the past, which brought the economy to its knees, was the free printing of the naira for eight years up to N22.7tn by the administration of former President Muhammadu Buhari without a corresponding improvement in productive activities.

“The inflation is due largely to eight years of printing the naira, which was not matched by production”, Edun stated.

To cushion the effects of the current hardship on Nigerians, the minister said the government had re-started the cash transfer of N75,000 to 15million households by identifying beneficiaries, using Bank Verification Number (BVN) and National Identification Number (NIN) to reach almost 75m Nigerians across three months.

Speaking earlier, Sani said the Senate called for the investigation because unstable oil prices meant that Nigeria had to source alternative revenue windows internally to able to provide services to the people.

“Volatility in oil prices and global economic challenges have made it necessary for us to explore our IGR sources.

“The days of excessive reliance on oil are gone. So, we have to explore other internal avenues, including agriculture as well as encourage voluntary tax compliance”, he stated.

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After over 3 decades, IBB Admits victory of Abiola in June 12, 1993 Election

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Over three decades after annulling the acclaimed freest and fairest June 12, 1993, presidential election, former Head of State Ibrahim Babangida has, publicly admitted that the late Moshood Kashimawo Olawale (MKO) Abiola won the poll.

Babangida’s newly launched 420-page memoir, A Journey in Service: An Autobiography of Ibrahim Babangida, unveiled in Abuja on Thursday, made the disclosure.
The event was attended by prominent figures from across Nigeria and beyond.

In his book, Babangida, widely known as IBB, admitted that his earlier claims suggesting Abiola might not have won were incorrect.
“Upon further reflection and a closer examination of all available facts—particularly the detailed election results published as an appendix to this book—it is clear that MKO Abiola won the June 12 election,” he wrote.
He cited official figures from the 110 polling booths nationwide, showing that Abiola secured 8,128,720 votes against his main challenger Bashir Tofa’s 5,848,247 votes. Abiola also met the constitutional requirement of securing one-third of votes cast in at least 28 states, including Abuja.
In what appears to be contradiction after confirming Abiola’s victory, Babangida maintained that the annulment was done in “extreme national interest.”
“As the leader of the military administration, I accept full responsibility for all decisions taken under my watch. Mistakes, oversights, and missteps happened in quick succession, but I affirm in my book that every decision, including June 12, was made to ensure Nigeria’s survival,” he stated.

The annulment, which remains one of Nigeria’s most controversial political decisions, triggered nationwide protests and unrest. Following the backlash, Babangida resigned in August 1993, handing power to an interim government led by businessman Ernest Shonekan. However, within three months, General Sani Abacha overthrew Shonekan in a palace coup.
Refusing to let his mandate be stolen, Abiola declared himself president in 1994, leading to his arrest by Abacha’s military regime. He remained imprisoned until his death under suspicious circumstances on July 7, 1998, a month after Abacha himself died. His wife, Kudirat Abiola, was also assassinated in 1996.
The return to democracy in 1999, which saw former military ruler Olusegun Obasanjo elected as president, marked the beginning of the Fourth Republic. However, the controversy surrounding June 12 remained a major topic in Nigerian politics.
In 2018, then-President Muhammadu Buhari sought to address the injustice by declaring June 12 as Nigeria’s official Democracy Day, replacing May 29. He also posthumously honored Abiola as a former president.
Reflecting on these events in his memoir, Babangida expressed regret over how the situation unfolded.
“Looking back, the June 12 saga was the most challenging moment of my life and, in some respects, one of the most painful. If I had to do it again, I would do it differently,” he wrote.
Babangida’s book launch was attended by an array of high-profile figures, including former Presidents Goodluck Jonathan, Yakubu Gowon, and Abdulsalami Abubakar, as well as former Vice Presidents Atiku Abubakar and Namadi Sambo.
President Bola Tinubu and Vice President Kashim Shettima were also present, alongside billionaire business moguls Aliko Dangote, Abdulsamad Rabiu, and Folorunsho Alakija.

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Osun on Edge: Timi Frank Warns of APC Plot to Force State of Emergency

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Bola Tinubu and Timi Frank

Political tension is at a boiling point in Osun State as violent clashes between supporters of the ruling Peoples Democratic Party (PDP) and the opposition All Progressives Congress (APC) over local government control turn deadly.
Amid the unrest, former APC Deputy National Publicity Secretary, Comrade Timi Frank, has sounded the alarm, accusing the APC of orchestrating chaos to justify a federal takeover of the state.

In a strongly worded statement issued on Monday, Frank called on President Bola Tinubu to intervene and rein in Minister of Marine and Blue Economy and former Governor Gboyega Oyetola, whom he accuses of fueling the crisis. According to Frank, Oyetola and his allies are deliberately stoking violence in a bid to make Osun ungovernable for Governor Ademola Adeleke, creating grounds for a state of emergency declaration.

“Their major target is to declare a state of emergency because they know that if elections are held today, Governor Adeleke will still win,” Frank stated. “So they want to abort his second term through crisis and violence.”

The crisis stems from a contentious Court of Appeal ruling, which both the APC and PDP interpret differently regarding the reinstatement of sacked local government chairmen. While Governor Adeleke has insisted that security concerns make their return impossible, Oyetola has vowed to enforce the ruling through legal channels.

The APC National Secretary, Dr. Ajibola Basiru, escalated tensions further by suggesting on live television that the Federal Government should consider declaring a state of emergency in Osun to curb the violence.
Frank, however, sees this as a calculated move to use federal might to undermine Adeleke’s administration.

“We call on the people of Osun to stand with Governor Adeleke and resist this political coup disguised as a crisis,” Frank urged. “This is nothing but an attempt to take Osun by force because APC knows they can’t win the state through the ballot box.”

As uncertainty looms, Osun residents watch closely to see whether the Federal Government will step in to douse the flames or if the crisis will spiral further, threatening the state’s stability.

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At 2025 Munich Security Conference, Natasha champions Call for Gender Equity

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L-R. European Union’s Commissioner for Preparedness Ms. Hadja Lahbib , the president of Kosovo Vjosa Osmani, Sanam Anderlini CEO International Civil Society Network, Senator Natasha Akpoti Uduaghan and Sanna Marin Ex Prime Minister of Finland.

Chairperson of the Senate Committee on Diaspora and NGOs, Senator Natasha Akpoti Uduaghan, has called for greater gender equity in global security and governance.
She made this strong appeal at the 2025 Munich Security Conference (MSC), where she joined world leaders to discuss the challenges facing women in leadership and peacebuilding.

Speaking on a high-profile panel alongside Kosovo’s President Vjosa Osmani, former Finnish Prime Minister Sanna Marin, and EU Commissioner Hadja Lahbib, Akpoti Uduaghan stressed the urgent need for inclusive governance and gender-sensitive security policies.

“The exclusion of women from decision-making isn’t just unfair—it’s a security risk. To build lasting peace, women must not only be at the table but leading the discussions that shape our future.”

A statement from her media office on Sunday in Abuja highlighted the senator’s concerns over the growing global backlash against women’s participation in leadership, warning that this trend threatens long-term stability and development.
Bringing an African perspective to the discussion, Akpoti Uduaghan shed light on the systemic challenges Nigerian women face in politics, ranging from intimidation to exclusion and political violence.
She called for stronger policies to protect women and create an enabling environment for their active participation in governance.
“The backlash against gender inclusivity in politics and security is not just a setback for women; it is a setback for global development.
“The world must move beyond rhetoric and take concrete actions to ensure that women are not just included in peace and security discussions but are given equal opportunities to lead and influence policies.”
The MSC panel, moderated by a senior policy expert, saw a robust exchange of ideas on gender-based discrimination, political violence, and the role of women in conflict resolution.
President Osmani shared insights from Kosovo’s experience in advancing women’s leadership.
Sanna Marin pointed to the Nordic model of gender inclusivity as a global benchmark.

Commissioner Lahbib reaffirmed the EU’s commitment to integrating women in crisis preparedness and security frameworks.
As the conference wrapped up, there was a unanimous agreement that reversing gender regression requires policy reforms, international cooperation, and sustained efforts to empower women in governance and security.

Senator Akpoti Uduaghan’s participation at MSC 2025 reinforces her growing influence as a global advocate for women’s rights, governance reform, and inclusive security policies. Her message was clear: a just, stable, and peaceful world cannot be achieved without women at the forefront of decision-making.

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