₦airaland Forum

In a staggering revelation, the budget allocation for the Office of the Chief of Staff to the President in Nigeria has witnessed an exponential surge, reaching an outstanding ₦21.22 billion in the fiscal year of 2024.

This astronomical increase denotes a stark contrast to the relatively modest figures of the preceding years, as disclosed by Statisense, a leading data analysis firm.

According to the data provided by Statisense, the budget for the Chief of Staff’s office stood at ₦24.35 million in 2020, experiencing a gradual ascent to ₦76.55 million in 2021.

However, the trajectory took a monumental leap in 2022, soaring to ₦526.47 million, and maintaining a high allocation in 2023 at ₦517.95 million, which then took a sudden surge to over ₦21 billion in 2024.

FOR 10 days, the nation is understandably simmering over the butchery of 17 officers and personnel of the Nigerian Army, who journeyed on a peace mission to Okuama, an Urhobo community in Ughelli South Local Government Area, Delta State, on March 14.

The subsequent discovery that the heartless killers beheaded some of the soldiers and mutilated the remains of others infuriated Nigerians the more.

Even more worrisome is the truth that the killers also collected the arms and ammunition of the Nigerian Army found in the possession of the assassinated soldiers, a development that no security agency would joke with until the weapons are found and retrieved.

Too many mysteries
But how did a communal misunderstanding between Okuama and Okoloba, an Ijaw community in Bomadi Local Government Area, Delta State, degenerate into the slaughter of soldiers, especially after the people of Okuama had received the soldiers in their territory, and served them kola nut?

What crime did the soldiers commit to warrant such jungle justice?

Having signed a peace accord brokered by the Delta state government, more than a month earlier, seemingly to forestall further killings, kidnap, and counter-kidnap by both communities, why did some Okuama youth waylay, and take hostage Mr. Anthony Aboh, an indigene of Okoloba, whose rescue attempt by soldiers resulted in the March 14 debacle?

However, if truth be told, were soldiers, job-wise, supposed to have embarked on peace talks with the people of Okuama, who are having a land dispute with Okoloba?

What were the compelling reasons for the military authorities authorizing such peace talks, headed by the Commanding Officer of the 181 Amphibious Battalion, Lt. Colonel A.H Ali, in a communal dispute between the two communities? Besides the lieutenant colonel were two majors, one captain, and others.

Who authorized the mission by the military officers? They could not have undertaken such a mission without authorization and planning.

Was the Commissioner of Police, Delta State, informed of the peace talks and what is the involvement of the police, whose duty it is in the first instance, to execute such a mission?

Did the Army notify the Governor of Delta State, the Chief Security Officer of the state, Rt. Hon Sheriff Oborevwori, of the March 14 peace talks?

Why did the peace team consist only of military men? Where were the officials of the Department of State Services, DSS, traditional rulers of the area, and other stakeholders?

What of the state Committee on Peace and Conflict Resolution that earlier brokered the peace accord between the two feuding communities; the Chairman of Ughelli South Local Government Area, and the Divisional Police Officer, DPO, in charge of the area?

Why should the Army not track down those who killed their men rather than attack innocent women, and children of Okuama, who could not have been the ones that murdered the soldiers?

Why should soldiers embark on razing the community, a day after the 17 soldiers were killed, and continue knocking down the community days after, but in the same breath, remain indifferent to allegations of carrying out reprisal action against the fleeing Okuama natives?

The puzzles in this sad episode that has enveloped Delta State are many. But the truth is that there is more than meets the eye in the entire affair.

What is, however, palpable is that the two communities were at daggers drawn over land despite the peace accord put in place by the state government, leaders and youth of the communities fanned embers of discord by their actions.

Accusations, counter-accusations
Both communities had before now accused each other of engaging the services of Very Important Personalities, VIPs, and private armies to undermine the peace process.

For example, while Okoloba accused Okuama of hiring a militant leader and other mercenaries to kidnap and kill their indigenes, including the 17 military men on March 14, Okuama also pointed fingers at Okoloba, alleging that a VIP influenced the disquieting presence of soldiers in its land for the bungled consultation.

Curiously, a militant from one of the warring communities suspected to have participated in the killing of the soldiers, in a trending video, maintained that the use of soldiers to persecute the people of Okuama triggered the bloodbath.

Military didn’t come for peacekeeping – Militant leader
Daring the government to declare him wanted if it so wished, during the week, an unnamed militant, who communicated in Pidgin English, said the soldiers allowed some influential people to use them to repress the people of Okuama.

He claimed that the Okuama and Okoloba communities were indeed having a land dispute and connected Ijaw people who used the army to escort and carry out their crude oil business, betrayed their brothers.

He disclosed they used soldiers to ‘carry’ three people and slaughtered them, adding, “The day the soldiers were killed, they came to carry our community leaders, and the youth knew that once the community leaders were captured, they would be powerless.”

From his explanation, they killed the soldiers to stop them from taking away the community leaders and making the youths of Okuama ineffective.

“That is why the action took place but people say the soldiers came for peacekeeping. Point of correction – no army came for peacekeeping. They are fighting in support of somebody who ordered them to do so.

“This is my last video; my father is a retired army captain; he died last year, and I have lost over six of my friends and relatives in Nigeria.

“If you like, take the matter to the next level. If you like, make the Federal Government declare me wanted, I am proud of it. You people are saying show my face, if I show my face, what will you do to me,” he said.

Ogbodo traces crisis to oil bunkering
Meanwhile, a former Editor of the Guardian Newspaper, Mr. Abraham Ogbodo, who is of Urhobo nationality, corroborated the claim in an interview with a television station, saying the ambush and murder of the troops was not connected to the communal crisis between Okuama and Okoloba, but instead linked to illegal oil bunkering in the Niger Delta.

”It is not true that a misunderstanding between an Urhobo community and an Ijaw community could bring that level of crisis, that level of tragedy that we witnessed is not true.

“It’s not about communal crisis. What level of communal crisis? The combined population of those communities will be less than 2,000 human beings. Where will they get the capacity to wreak that level of havoc?

He queried: “What was compelling about a peace mission in that place that will require the strategic team to go for a tactical mission? So, it shows that there are so many things underlying that we are not talking about.
”If it was actually for a peace mission, would it not have been for those community leaders to be summoned to the base in Bomadi for discussions to be held?

“This was not done. Instead, the entire leadership of the battalion went to Bomadi and was exposed. And if a mission like that was being carried by the strategic team, why was there, not enough tactical cover that they were just gotten and taken out like that so cheaply?

“The Nigerian military? That is uncalled for. So, you will see that there are so many wrong things.

Ogbodo urged the military to grant access to the community for thorough investigations into the attack, adding, “I think that what the president has said about the investigation should be allowed to go full course. An investigation means that independent investigators have to get to the site, get to the scene, and let the investigation be done.”

Fabricated storylines – Major General Abudussalam, GOC
The General Officer Commanding, 6 Division, Nigerian Army/Land Component Commander, Joint Task Force, South-South, Operation DELTA STATE, Major General Jamal Abdussalam, on Thursday, nevertheless, vowed that no amount of false narratives, arm-twisting, and blackmail would deter the Army from recovering its arms carted away by the criminals, who killed men and officers, and arrest all those involved in the act.

The Acting Deputy Director, 6 Division Army Public Relations, Lieutenant Colonel Jonah Danjuma, in a statement, said the GOC stated this when the Managing Director (MD)/Chief Executive Officer (CEO), Niger Delta Development Commission (NDDC), Chief (Dr.) Samuel Ogbuku paid him a condolence visit at the Division’s Headquarters in Port Harcourt Barracks. Rivers State.

He stated that no amount of propaganda, arm-twisting, blackmailing, intimidation, and false narratives would distract troops from staying on course to achieve their objectives.

Abdussalam asserted, “Troops will not rest until all those involved are tracked down to account for their deeds. The operation is being conducted in such a way that going forward, nobody would contemplate attacking men in uniform. False narratives being churned out, and propaganda peddled over this mindless criminality would not deter troops from fishing out the criminals.”

What transpired in Okuama
Beyond the blame game, what went awry as the people of Okuama at the outset received the Lieutenant Colonel and his team to the community.

Before the March 14 slaughter, the day earlier, Wednesday, March 13, a young man from Okoloba, Mr. Anthony Aboh, was taken hostage by armed youths in Okuama community. His brother, a former supervisory councilor, Bomadi local government council, immediately reported the matter to the 181 Amphibious Battalion of the military Joint Task Force, Bomadi.

Upon the report, the commander mobilized his men on a rescue mission to Okuama. The former councilor was also asked to join them on the mission.

Saturday Vanguard learned that when the military team arrived at Okuama, they asked for the community chairman who the community earlier said had gone to the farm. But after much insistence to see him, he surfaced and took the military men to the community hall.

Discussions to free the hostage were deadlocked, and the commander insisted the community chairman must go with them to Bomadi since they refused to produce the hostage, who they later found dead.

According to a survivor, who was one of the drivers of the speedboats hired by the military at the Gbaregolor community waterside, the community chairman refused to go with the soldiers. They forced him towards the waterfront to board their boat when rains of bullets started coming from all directions.

Before that incident, the driver said: “While waiting at the waterfront, an old woman in pure water attire came out of the community and stared at us, making some incantations, and went back to the community. Within a few minutes, an old man with similar attire came to the same spot, gazed at us, and performed the same way as the old woman.”

”Not long after this scenario, the commander and his men started coming to the shore with the community chairman. At that moment, I made ready to start my engine just like my colleagues, but the engines refused to start, and efforts made to start the engines were to no avail at this point, I realized that the problem had come when I saw the performance of the old woman and the man.

”As the bullets started coming, the soldiers tried to respond, but none of their guns answered, and immediately I dived into the river. But suddenly, one of the engines started, some soldiers jumped into it, and the driver sped out of the community and carried me from the river.

”I do not know what he did to start his engine. Two of the soldiers in the boat sustained severe bullet wounds and were taken to the Bomadi General Hospital. The information then was that the JTF commander and one other officer were held hostage”.

”The following day, soldiers were mobilized from Agbarho to Okuama to negotiate and secure the release of the commander and others reported to have been held hostage.”

According to an inside source, who partook in the reinforcement that led to the burning of houses at Okuama, and who was discussing the operation with his colleagues, the soldiers who were mobilized from Agbarho were deceived and killed.

”The remobilized soldiers from Agbarho led by the Lieutenant Colonial, upon reaching Okuama, told the community folk that they were coming for peace talk. They said the soldiers should drop their weapons if they came for peace talks.

”The commanding officer asked his men to drop their weapons, and as they did so, the community youths took the weapons away from all of them. Then, suddenly the youths descended on them by butchering them from all angles.”

Narrating how he was privy to this gruesome murder, the soldier said: “As we were burning houses in the community, somebody ran out of one of the houses on fire, and I threatened to shoot if he ran. He hesitated a while and surrendered. So, we interrogated him as to why he remained in the village while all the others had fled.”

”His reply was odd and awkward. He answered by saying, it could be the blood on his head. Then, when he was asked how many he had killed? He said 46 and at this moment, a colleague cocked his gun and wanted to shoot him in anger, but others calmed him down, telling him that he was a possible source of hidden information.

”We discovered six shrines in the community in the process of burning the houses, which are stained with blood. We also burned them but one of the shrines refused to burn. It was one Hausa soldier who did what he did to set it ablaze.

”The culprit, after his confessions, also led us to discover hidden corpses under the jetty at the community waterfront. He has already been flown to the Defence Headquarters in Abuja”.

Chronology of the Okuama/Okoloaba crisis

The inter-communal crisis between Okuama and Okoloba communities in Bomadi Local started like child’s play.

The brewing crisis between these neighbouring communities came to public notice when one of the communities, Okoloba, through the community chairman, Mr. Clement Koki, addressed a press conference at Bomadi, headquarters of Bomadi local government area, on December 20, 2023, alleging that neighbouring Okuama community invaded farmlands and fishing grounds belonging to Okoloba, as well as attacked and brutalized indigenes on several occasions without any provocation.

They also alleged that indigenes of Okuama trespassed their community by blasting dynamites indiscriminately and cutting off grasses in the name of catching fish thereby exposing the community shoreline to coastal erosion.

The community equally sent an open letter to the state government, drawing the attention of the governor, Rt Hon. Sheriff Oborevwori, to the brewing tension, urging the government to intervene and call the aggressor to order.

The people of the Okoloba community clashed with some youths on a speedboat, going towards Okuama, who they alleged were mercenaries moving weapons to the Okuama community around 2 am in January 2024,
The Okoloba community chairman, Mr. Koki, who narrated the night incident, said: “On 28th January 2024, we had intelligence of an allegedly planned attack on our community with mercenaries coming with weapons from the Warri axis that same night, which prompted us to keep watch.”

”A speedboat came from that same direction, the Okuagbe direction of the river at around 2 am. We tried to stop them by beaming torchlights on the boat and waved to stop them, but they responded by firing at us. We pursued them with our boats and they moved in the opposite direction of our community, abandoned their boat, and fled. Arms and charms were inside the boat which we handed over to the Bomadi Police Division”.

But when contacted over the incident, a leader of Okuama, Prof. Ekpoko, alleged that the boys were not mercenaries as erroneously alleged and reported by the people of Okoloba.

He said: “We are not at any offensive but the people of Okoloba are”, stressing “they were coming back to their community from Okuagbe”.

In that incident, it was reported that about six of the said mercenaries met their Waterloo during a gun battle between the two groups, among whom was an Ijaw youth. In the following weeks, the youths who escaped with gunshots were posted on social media.

The Delta State Government, through the office of the Special Adviser to the Governor on Peace and Conflict Resolution, on February 6, 2024, called both parties to Government House, Asaba, where they discussed issues and at the end of the discussions, came up with a Peace Pact that was signed by the leadership of both parties.

On February 20, 2024, the people of the Okoloba community, again, raised the alarm in another press briefing at Bomadi, with an open letter to the governor, updating the public on current developments.

Mr. Koki, in this briefing, said the people of Okuama were conducting a stop-and-search operation on market boats, searching for indigenes of the Okoloba community in the boats with a vow to kill any if found. He also alleged that the harassment of fishermen and farmers of the Okoloba community was on the increase.

”They threatened the boat drivers with guns not to pass without stopping by their waterfront, where they searched for Okoloba Indigenes returning from the market.

, “On the following day, February 21, 2024, our women who were fishing at the Mein-toruabubor River were threatened with guns and chased back home. The Mein-toruabubor River belongs to the Okoloba community”, he said.
Other allegations in the open letter to the governor included efforts to scare away teachers posted to Okoloba, and forceful takeover of fishponds belonging to Okoloba Indigenes and others despite the Peace Pact signed by both parties in Asaba.

But in their reaction to the purported development, an indigene of Okuama spoke on the condition of anonymity, said that the allegations were fabricated and unfounded.

Ambush and killing
On the 5th of March, 2024, Mr. Pigha Zipamone of the Okoloba community disappeared from his mother’s farm and the community raised the alarm.

The community chairman, Mr. Koki, who once again addressed the press at Bomadi, when handing over the corpse of the slain youth to security men, said: “On 5th March 2024, Mr. Pigha Zipamone went to work in his mother’s farm and was kidnapped by Okuama bloodletting savages and mercenaries who have been laying ambush to attack us.

”He was taken to Okuama, beaten mercilessly with hands tied behind his back daily in the village square, and eventually killed on 8th March 2024. His lifeless body was thrown into River Forcados in the early hours of 9th March 2024″.

President Bola Tinubu has said that those alleging embellishments in the 2024 budget did not understand arithmetic.


DAILY POST recalls that the 2024 budget was shrouded in controversy following allegations by Senator Abdul Ningi representing Bauchi Central, saying over N3.7 trillion in the budget could not be traced to any project.

The allegations, which landed him three-month suspension, stimulated reactions from concerned Nigerians across the country.


Speaking on the matter, Tinubu while hosting the leadership of the Senate to a dinner to break the Ramadan fast at the State House on Thursday in Abuja, assured the lawmakers that their integrity was still intact.

“I know the arithmetic of the budget and the numbers that I brought to the National Assembly, and I know what numbers came back. I appreciate all of you for the expeditious handling of the budget. Thank you very much.

“Those who are talking about malicious embellishment in the budget, they did not understand the arithmetic and did not refer to the baseline of what I brought. But your integrity is intact.


“I am grateful for what you have been doing. The natural challenge we are facing will be over.

“On the current economic difficulty, we are about turning the corner. Our revenue has improved. All we have to do is to control expenditure and manage ourselves better,” the President said.

Tinubu thanked members of the National Assembly for the speedy attention given to the Students Loan Amendment Bill, urging more tolerance, forgiveness, and charity during Ramadan.

Controversial Islamic scholar, Sheikh Ahmad Gumi, has rubbished claim that some individuals of interest are sponsoring terrorism in Nigeria.

According to him, “These terrorists (bandits) don’t need any financial support from outside since they collect billions from kidnapping”.

This comes on the heels of the release of 15 entities, including nine individuals and six Bureau De Change operators and firms, allegedly involved in terrorism financing by the federal government of Nigeria.

Reacting, Sheikh Gumi who was featured on Daily Trust X Space on Wednesday, said it’s only the Court of law that has the right to declare anyone terrorism financier.

His words; “I think it’s high time the government took the bull by the horns, come together to see how to redirect these people (bandits)…

“Now they are looking for N1 billion for these children (kidnap victims) to be released. They financed themselves by kidnapping. I think it’s rubbish to just frame your political opponents as financing terrorism.

“No Nigerian will put his money in terrorism, we’re beyond that. These people are financing themselves by taking our children for ransom.

“So, how can we say some people are financing terrorism because there is a misunderstanding between them”.

The Independent National Electoral Commission (INEC) has said it will no longer accredit civil society organisations and other bodies as observer groups if they fail to submit their observation reports of previous elections.

INEC Chairman, Prof. Mahmood Yakubu, disclosed this on Wednesday in Abuja at the first quarterly consultative meeting with Civil Society Organizations (CSOs).

Yakubu said INEC will continue to partner with Civil Society Organizations, saying the commission appreciates the observations and recommendations contained in their election observation reports.

He said, “Some of the reforms and innovations introduced by the Commission over the years draw from your observation reports. However, while many of you have submitted your reports, some accredited observers are yet to do so for the general election, supplementary elections, off-cycle elections, bye-elections, and re-run elections.

“May I therefore seize this opportunity to remind those who are yet to submit their observation reports that it is mandatory to do so, being one of the conditions for eligibility to observe future elections? Going forward, the Commission will operate strictly on the policy of ‘No Observation Report, No Accreditation.”

He said that for Edo State, 18 political parties conducted their primaries monitored by the Commission, adding that, going by the provision of the timetable and schedule of activities for the election, political parties have 20 days from March 4, 2024, to upload the list and personal particulars of their candidates to our dedicated web portal.

Yakubu explained that eight parties have now filed their nominations.

“We expect the other parties to do so before the deadline of 6 p.m. on March 24, 2024, when the portal automatically shuts down. Thereafter, the Commission will publish the personal particulars of the candidates (Form EC9) on March 31, 2024, for public scrutiny as required by law.

“Turning to Ondo State, political parties will commence their primaries for the governorship election in the next two weeks. Sixteen political parties have indicated interest in participating in the election.

“I urge Civil Society Organisations (CSOs) to engage with political parties and observe their primaries just as you engage with INEC and deploy observers to the main election conducted by the Commission. By doing so, you will strengthen your advocacy for inclusivity for groups such as women, youths, and Persons with Disability (PwD) that are underrepresented in elective offices at the national and state levels,” he added.

The Nigerian military says it is not responsible for the reprisal attack on Okuama community in Delta State. It also suggested that the retaliatory attack on the community could have been carried out by the rival Okoloba community.

PREMIUM TIMES reported that suspected residents of Okuama community on Thursday ambushed and murdered the Commanding Officer of 181 Army Amphibious Battalion, two majors, one captain and 12 soldiers. The military initially said a total of 16 soldiers were killed but on Monday, it posted the names and photos of 17 soldiers including the commander (a lieutenant colonel), two majors, one captain and 13 soldiers.

The military confirmed the killing of the soldiers on Saturday. On Sunday morning, the Okuama community was attacked and many houses there were burnt. It is that Sunday morning attack that the military has now denied.

The Director of Defence Media Operations, Edward Buba, a major general, in a statement on Monday, said the community was already deserted even before troops arrived there.
Mr Buba advised those peddling the news of reprisal attacks on the community by soldiers to desist from further “dishonouring the fallen heroes.”

He said it behoves on the community leaders, elders and the people of Delta to identify the perpetrators of the murder, so that they could be brought to account for the heinous crime.

Mr Buba then suggested that the burning of the Okuama community could have been carried out by the rival Okoloba community. It was the fighting between the two communities that soldiers were sent to resolve before they were killed on Thursday.

The defence spokesperson said as long as the dispute between Okuama and Okoloba communities remain, it “implies that there could be untoward activities not initiated by the military.”

“Overall, there is no doubt, that this (killing of the soldiers) is an extremely sad development and untoward activity by members of the Okuama community against troops that were there to protect them.

“We urge the public to resist the temptation of allowing any videos of the incident of the killed personnel from going viral..

“It would be a dishonour to the fallen heroes to allow such ugly videos of their demise go viral.

“Above all, as the military mourns, it remains ever determined to ensure safety and security of citizens across the country,” he said.

Mr Buba said it was tragic, senseless and barbaric to have killed the officers and soldiers in such a dehumanised and unspeakable manner.

According to him, while the armed forces mourns the loss of the gallant troops, there will be measured responses and consequences for the perpetrators.

He consoled their families, colleagues and loved ones over the tragic incident.

Mr Buba reminded Nigerians that the armed forces consist of citizens from every nook and cranny of the nation who had taken oath of allegiance to put themselves in harms way to defend the country.

The defence spokesperson said it was in line with this, that troops were deployed on internal security operations in about all the states of the federation to intervene, deescalate and contain security breaches.

“The ugly incident in Okuama Community in Delta is indicative of the dangers our gallant troops experience in order to secure our nation.

“The military assures that there would be measured responses and injurious consequences for the perpetrators of these dastardly act.

“Nevertheless, the armed forces being a disciplined force that complies with rules of engagement, laws of armed conflict and the respect for human rights would be tempered by these provisions.

“We would not be led by emotions, but by the rule of law,” he added.

There are indications that the Federal Government through the Nigerian National Petroleum Company Limited (NNPC Ltd) is now spending N17.72 billion daily to fund subsidy on petrol.

Though still shrouded in secrecy, the funding strategy, Vanguard learnt, is consummated by way of crude sales and direct cost recovery by NNPC.

An executive of a major petroleum marketing company in Lagos told Vanguard that the N17.7 billion subsidy cost represents the difference between landing cost of imported petroleum products and effective wholesale price to petroleum marketers.

Nigeria imports all the petrol it consumes and according to the Chief Executive, Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, Farouk Ahmed, daily petrol consumption in the country is around 44.3 million litres.

At current average deport price and exchange rate, the FG through NNPC may be incurring about N531 billion losses or revenue shortfall monthly.

This has now been reflected in the monthly Federation Account Allocation Committee, FAAC, reports.

The NNPC also deducts this shortfall from its remittances to the Federation Account, but the final distributable balance remains significantly higher than the pre-May 30, 2023 figures due to higher product prices.

President Bola Ahmed Tinubu had on 29th May, 2023, inauguration address declared that subsidies on petrol had ended. His declaration immediately led to a hike in the pump price of fuel to N480 per litre lower limit from N185 per litre. The upper limit was around N560.

Two months later, pump price moved again to over N600 per litre with NNPC Retail dispensing at N617 per litre in Abuja while independents and major marketers sold at N627 per litre. The upper limit in some locations hovered around N680.

Since then, while NNPC-owned stations and affiliates have maintained the N617 per litre rate, prices at the independents and major marketers have soared to N660-N680 per litre. In some states of the Federation the upper limit has gone up to N750.

Data clothed in secrecy

Vanguard’s efforts to get Finance Ministry’s official data on petrol import prices were rebuffed while the regular FAAC breakdown of remittances by NNPC has been removed from public communications contrary to the practice a year ago.

Also NNPC declined to release its information on petroleum imports saying that it is now running as a private company, and therefore not obligated to making its trading information public.

Contrary to the position of the FG, petroleum marketers have insisted that the current landing price is above N1,000 per litre, meaning the government was paying the difference.

According to them, the major cost determinant is the exchange rate which had seen the Naira depreciate by almost 200 per cent since the May 29, 2023 declaration.

NNPC Limited remains sole importer of the product as scarcity of foreign exchange killed the euphoria that greeted the passage of the Petroleum Industry Act 2021 that provided for deregulation of the downstream sector of the petroleum industry.

The Act was expected to usher in an era of free market in the downstream sector, where marketers will be able to import and sell at competitive prices.

Marketers’ views
Speaking to Vanguard, the immediate past public relations officer of the Independent Petroleum Marketers Association of Nigeria, IPMAN, Chief Chinedu Ukadike, said the rise in petrol price is largely driven by the low value of the Naira to the Dollar.

Ukadike pointed out that while crude oil price has remained largely stable in the past one year, the Naira has continued to tumble against the dollar following the decision of President Tinubu to float the currency.

He explained that it is impossible for anyone to claim that the price of petrol has not changed significantly from when the exchange rate was N750/dollar when the subsidy was removed last year to now when the rate has moved to N1,600/dollar.

He explained: “Because NNPC is the sole importer of PMS in this country, it is very difficult for anyone to say for sure the actual cost of importing PMS into the country. Simple mathematics will tell you that the price cannot be the same when a dollar was exchanged for N750 and now that it is N1,600 to a dollar. What this means is that the price is above N1,000 per litre.

“So, the foreign exchange determines the price at the local market and if forex rate has increased, invariably, the landing price of petroleum products has also increased by same magnitude. I don’t know the magic through which they continue to sustain the price of PMS at the same level.”
He disclosed that while NNPC’s portal currently displays that ex-depot price was N566.7 per litre, independent marketers are not able to load at NNPC depots and have had to depend on private depots supplied by NNPC at the cost of N630 per litre.

Also speaking to Vanguard, a major marketer blamed foreign exchange rate for the huge gap existing between the actual market cost of petrol and the pump prices.
The marketer who didn’t wish to be named said government is certainly subsidising petrol at the current rate.

According to the marketer, “The landing cost is determined by the rate of the dollar to Naira. If you have US Dollar at N800, the price will be different if you’re buying at N1,600 for instance. So, it depends on the context. The government has told NNPC: don’t move the price.

“But for the rest of us, if you buy a vessel and you bring that vessel from the mother vessel to the port, it will cost you between $400,000 to $600,000 depending on where you are taking it to. If you are coming to Lagos it will cost about $400,000 but if you’re going to the east, it will cost $600,000. So, it cost about $30 per ton. So, if you are calculating this at N1,600/$ the amount is significantly different. And that informs the difference in pump price at NNPC outlets and the rest of us.

“You must also know that when your vessel gets to the port, NIMASA and NPA charge you in dollars. Everything amounts to $10 per ton. That dollar you cannot see in the banks. It is either you buy from the parallel market or you don’t operate.

“So, if NNPC has continued to sell at the old price, it means that the government has intervened. Which I will not call subsidies”, he explained.

Backing the positions of the marketers, oil and gas governance expert, Mr. Henry Adigun said government is paying over N400 per litre as subsidy.

Adigun explained that the easiest way to know the actual price of petrol “is to look at the price of diesel as both products were of the same value”.

He expressed dissatisfaction over non-release of data by NNPC Limited, adding the company remains publicly-owned and funded by the Nigerian people.

He pointed out that NNPC has become more opaque than it was a few years ago, adding that NNPC is likely paying for the subsidies with proceeds of crude oil sales as it did during the President Muhammadu Buhari’s government.

Analysts’ comments
Views across financial experts contradict FG’s position on existence of subsidy payment.
According to them, it is obvious that not only has subsidy regime returned, perhaps the amount spent on fuel subsidy is now far more than ever before.

They also believe that government may have decided to carry the subsidy burden for fear of a likely political and social backlash of transmitting the full cost of imported petrol onto the consumers.

But they also expressed worry over what they see as clear violation of the 2024 Appropriation Act which did not provide for subsidy funding.
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Why FG was forced back to subsidy– Expert

Speaking to Vanguard on the subsidy controversy, Tunde Abidoye, Head, Equity Research, FBN Securities Limited, stated: “It is quite clear that petrol subsidies have been back for some time considering: a) that the product is imported; b) there is a substantial import component in the product’s price and; c) the naira exchange rate has been devalued at least twice, first to around N760, and N1,500per USD.

“Industry experts will tell you that the landing cost of the product is already above the current pump price. Also, we can easily determine the real cost reflective price of petrol by bench-marking its price with those of other deregulated fuels like diesel( and kerosene.

“According to the last NBS report, the average price of household kerosene was N1,329.5 as at January 2024. Diesel prices averaged N1,153 due in the same period. The real market price of petrol cannot be substantially lower than prices observed for these two other petroleum products. Consequently, it is clear that PMS prices are being subsidized.”

NNPC owes Nigerians transparency — Highcap Securities boss
Reacting, David Adonri, Executive Vice Chairman at Highcap Securities Limited, said: “There might be a merit in the claim by NNPCL that being a private company although a publicly sponsored enterprise, it is not under any obligation to publicly disclose its corporate information.

“However, it remains an entity with very substantial public interest which demands a high level of transparency. It ought to feed the public with necessary information if it does not have anything to hide.
“From the perspective of arithmetic, depreciation of the Naira and continued importation of petroleum products by NNPCL points in the direction of subsidy at current pump price. It is only when petroleum products are produced locally and sold at open market prices by private refiners that subsidy may no longer arise.”

Publish financial statement to bring everything clearer — Kurfi

In his comment, Mallam Garba Kurfi, Chief Executive Offer at ATP Securities & Funds Limited, said: “We are not having any doubt about subsidy existence in petroleum sector. What is the price of diesel now? There is no doubt about fuel subsidy especially when you compared it with the price of diesel which is about N1,300’per litre. As a public company, their financial statement will bring everything clearer when published.”

Subsidy has crept back into the price of petrol — Olayinka

Reacting as well, Tajudeen Olayinka , Analyst/ CEO, Wyoming Capital and Partners, said: “I believe every discerning individual should know that subsidy is back. So far exchange rate is no longer at the level we had it the last time further adjustment was made to petrol prices, it follows therefore that subsidy has crept back into the current price of petrol across the country. I believe government deliberately put further removal of subsidy on pause, to enable the administration address all the socio-economic costs associated with subsidy removal and economic reforms.”

Withholding information undermines public confidence — Egbomeade

In his response, Clifford Egbomeade, Communications experts /economy commentator, said: “Transparency is essential in ensuring public trust and accountability, particularly in a sector as vital as oil and gas. Withholding information on subsidies and fuel distribution costs can undermine public confidence and raise questions about the motives behind such actions.”

Regarding the existence of subsidies on petrol, he said: “The lack of transparency from NNPC makes it challenging to ascertain the current situation definitively. However, given Nigeria’s history of subsidizing fuel prices to stabilise domestic markets and support consumers, it is plausible that some form of subsidy still exists, albeit potentially obscured by the lack of disclosure.”

President Bola Tinubu on Friday said that his administration is determined to protect the national treasury from looters and other criminally minded persons.


The President also said that he was aware that smugglers and those who benefited from the old subsidy regime in the country are also fighting back in the fight against corruption.

This is as he has asked leaders at the grassroots level to encourage citizens to get their National Identification Number (NIN) for planning, and structuring interventions and to achieve their full integration into various relief programmes.

President Tinubu stated this when he received the Forum of State Chairmen of the All Progressives Congress (APC) at the Presidential Villa, Abuja.

He said that his administration is deploying resources to critical sectors and areas with significant impact on the welfare of Nigerians, emphasizing that the nation’s treasury is sacrosanct and must not be abused.

President assured Nigerians that his government is working round the clock to improve their living conditions, and asked leaders to get their NIN for their full integration into various relief programmes.

President Tinubu in a statement issued by his Special Adviser on Media and Publicity, Chief Ajuri Ngelale was quoted as saying, “The programme of our government will be truly progressive; student loans, a national consumer credit system, and social welfare for the unemployed, as well as graduates.

“Every Nigerian will find a place of belonging in our country. In the eye of even the biggest hurricane, we will find that place of tranquillity and prosperous harmony for the benefit of all. Nigerians will all partake on this national journey to prosperity,” the President said.

Emphasizing the central role of agriculture in expanding and accelerating Nigeria’s economic growth, President Tinubu told the state party chairmen, led by the National Chairman of the APC, Dr. Abdullahi Ganduje, that his government had already drawn up a blueprint for large-scale livestock farming, which will be activated soon.

“We are bringing mechanized farming to the fore. Yesterday’s crisis will become today’s opportunity. Fertilizers are being supplied to farmers as we speak. Agriculture and economic diversification provide the answers to our problems. We will not continue to import food. We know how to turn lack into abundance, and the world will watch us do it again,” the President said.

President Tinubu emphasized that the repositioning of the economy is a top national priority as he urged party members not to wait for an appointment before bringing good governance and exemplary civic engagement to the doors of Nigerians.

“As we are fighting corruption, smugglers, and old subsidy beneficiaries, they most certainly will fight back. All those who falsified records and became losers with the subsidy (on petroleum products) removal, they will fight back.

“But we will defend our people. The treasury belongs to the people, and that sacred trust must not be abused.

“I urge the state chairmen that regardless of party affiliation, let us help citizens by mobilizing them for NIN registration. Not just PVCs. Some are poor Nigerians who have not experienced formal education and have no understanding of what NIN is and how it will benefit their lives. We must teach them. We must care for them.


“Without NIN, we can not embark on social security interventions for the vulnerable. We will be making faulty moves without accurate data and iron-clad, digital intervention structures. I have established a committee of governors, and it is headed by the Vice President, Sen. Kashim Shettima. It is working on what must be done to further lift our people.

“We need to give hope, and we are giving it to the country and our citizens. We are working hard, day and night, even though some agents of destabilization are present in the polity. Nigerians, with our focused support, shall defeat them,” the President affirmed.

APC National Chairman, Dr. Abdullahi Ganduje said the party is nearly set to establish the Progressive Institute of Policy and Development for the benefit of its members and the broader Nigerian public.

This was followed by the Forum of APC State Chairmen congratulating the President on his victory at the polls, tribunal, and Supreme Court while assuring him of their continued support as his administration implements its economic programmes.

As reactions continue to trail the revelation of the padding of 2024 budget to the tune of N3.7 trillion, the former Vice President, Atiku Abubakar has told President Bola Ahmed Tinubu that his government cannot dismissed the allegation.

Recall that Senator Abdul Ningi had during an interview with the Hausa BBC revealed that the 2024 budget was passed to the tune of N3.7 trillion, which he also reaffirmed he face the Senate on Tuesday during plenary session.

Demanding an immediate and thorough investigations, Atiku said that padded budget translate to a padded hunger, padded poverty, padded insecurity and padded energy crises.


Atiku, in his twitter handle said that the sudden suspension of Ningi without adequate explanation, has only fueled the crisis, leaving Nigerians with more questions than answers.


Atiku’s message in his twitter handle reads, “over the past few days, allegations have rocked the Senate, questioning the very integrity of the 2024 Appropriation Act, the cornerstone of our nation’s annual planning and development.

“A fiscal policy analytics and advocacy organization has unequivocally confirmed a disturbing lack of transparency within the 2024 Appropriation Act.

“Furthermore, the sudden suspension of the whistle-blower Senator, without adequate explanation, has only fueled the crisis, leaving us with more questions than answers.

“I demand an immediate and thorough investigation into these allegations. Appropriation lies at the heart of governance, and any deviation from serving the people’s interests will be met with fierce opposition.


“Denials are unacceptable, and the suspension of one senator cannot silence accusations of corruption and illegal fiscal spending by the federal government.


“Without a clear explanation to the people of Nigeria, we must treat these allegations for what they are: outright fraud.

“The accusation of budget padding totaling N3 trillion cannot be dismissed lightly by the government.

“Given the current hardships facing our nation, a padded budget is already translating to a padded hunger, padded poverty, padded insecurity, padded energy crises, padded forex instability, and the soaring cost of living.

‘The people of Nigeria cannot afford to ignore allegations that worsen our already dire economic situation.”

Lambasting Tinubu’s administration, Atiku said “the current federal government has a disgraceful track record of ignoring issues of transparency and due process in public administration.

“The unresolved $3.3 billion NNPCL loan repayment scandal, with Nigeria now expected to repay $12 billion, remains a glaring example.”

Atiku called on President Tinubu to as a matter of urgency address all high-profile corruption cases transparently.

He said: “The Tinubu administration must address these high-profile corruption cases transparently.

“The National Assembly, as the elected representatives of the people, are constitutionally obligated to legislate for the peace, order, and good governance of our nation, without colluding with corrupt elements.


“Failure to do so and persisting in denial will only confirm the government’s complicity in official malpractice.”

gashiwalesman:
Did the op read what he posted before captioning the article in such a confusing manner?

The Peoples Democratic Party has asked the Senate President, Godswill Akpabio, to step aside and allow for an independent investigation into the N3.7trn 2024 Budget padding allegation.

The lawmaker representing Bauchi Central, Abdul Ningi, has been suspended by the Senate for three months.

This decision followed approximately three hours of debate regarding his statements made in an interview where he claimed that the National Assembly inflated the 2024 budget to N28.7 trillion.

In the interview conducted on Saturday, Ningi asserted that while the budget passed by the National Assembly for the 2024 fiscal year is N25 trillion, the one being executed by the Presidency amounts to N28.7 trillion.


In response, the PDP, through a statement issued by its National Publicity Secretary, Debo Ologunagba, on Wednesday, expressed its support for the suspended Senator.

The party criticised the Senate leadership for suspending Ningi without conducting a thorough investigation into the matter of budget padding that he brought up.

The party stated “The Peoples Democratic Party demands that the Senate President, Senator Godswill Akpabio, immediately step aside and allow for an independent investigation into the allegation that a staggering N3.7 trillion was discreetly inserted into the 2024 budget for alleged non-existent projects.


“The party also demands that Senator Akpabio immediately reports at the Economic and Financial Crimes Commission over the pending case of alleged looting of N108 billion belonging to the people of Akwa Ibom State under his watch as Governor of the State.

“Furthermore, the Senate President should speak out on the reported N86bn contract scam in the Niger Delta Development Commission during his tenure as the Minister of Niger Delta Affairs.”

The PDP described Ningi’s suspension as a desperate move to suppress investigation, conceal, and sweep the facts under the carpet.

It added, “We ask, why did the APC leadership in the Senate not refer the matter to the appropriate Senate Standing Committee for an open investigation in line with the extant Rules of the Senate? What is the APC Senate leadership afraid of and what is it hiding from Nigerians?

“It is even more absurd that instead of recusing himself, the Senate President sat as a judge in the matter; a situation that has the capacity to bring the institution of the Senate to further public disrepute.

“This is especially true as the issues at hand heavily border on alleged gross misconduct and criminal betrayal of public trust which are serious offenses under our laws.

“This apparent inclination towards covering up sleaze in the polity is already pitching the institution of the Senate against Nigerians who are demanding answers on the matter. Of course, the widely condemned suspension of Senator Ningi does not provide answers to the budget padding allegation.


“It is indeed unfortunate and a huge smear on the image of the Senate, as the highest lawmaking and probity Institution in the country, that its Presiding Officer has found himself in a quagmire of alleged sleaze and betrayal of public trust.

“Our party therefore stands with Senator Ningi for his courage in seeking probity and accountability in the polity.”

Senator Abdul Ningi says the can of worms he opened in the Senate cannot be controlled.

The Senate slammed a 3-month suspension on Ningi, lawmaker representing Bauchi Central, over the allegations that N3.7 trillion was not traceable to any project in the 2024 budget.

The lawmaker made the claim in an interview he granted to BBC Hausa over the weekend.

Based on the wide interest generated by the issue, Ningi had addressed the media ahead of the next plenary sitting, saying although he was misrepresented in some quarters, he stood by what he said and was ready for any consequence.


Expectedly, when the upper legislative chamber sat on Tuesday, the issue was discussed as some of Ningi’s colleagues called for his suspension.

After Senator Olamilekan Adeola from Ogun West moved a motion for the issue to be discussed, the senate descended into chaos as Jarigbe Jarigbe, senator representing Cross River north, claimed that some “senior senators” got N500 million in the budget for constituency projects.

“Let us wash our dirty linen in public. If we want to go into those issues, all of us are culpable. Some senators here… so called ‘senior senators’… got N500 million each. I am a ranking senator, so I didn’t get. Did I go to the press?”

The discussion has dominated the media as many Nigerians have been asking their representatives at the senate to comment on the amount they got.

In compliance with the Federal High Court order, the Federal Government of Nigeria has filed terrorism charges against the detained President of Miyetti Allah Kautal Hore, Bello Bodejo.

In the terrorism charges dated March 12, Bodejo was accused of undermining the national security of Nigeria by establishing and arming an ethnic militia group without authorization.

Part of the charges read: “That you, Bello Bodejo, Male, Adult, on or before the 17th Day of January, 2024, at Lafia, Nasarawa State, within the jurisdiction of this Honourable Court, committed to commit an offence to wit: you established an ethnic militia known as Kungiya Zaman Lafiya without authorization and thereby committed an act prejudicial to national security and public safety, an offence punishable under Section 29 of the Terrorism (Prevention and Prohibition) Act, 2022.”

Bodejo was arrested on January 23 at the Miyetti Allah’s office in Karu Local Government Area of Nasarawa State over the alleged unveiling and arming of a vigilante group.

The Attorney General of the Federation, Lateef Fagbemi (SAN), filed a motion ex parte on February 5 seeking to remand Bodejo pending the conclusion of the investigation by DIA and his arraignment in court.

Justice Inyang Edem Ekwo of the Federal High Court in Abuja had, upon the ex parte application, ordered that Bodejo be remanded for 15 days.

At the expiration of the 15 days on February 22, the judge gave the Federal Government seven days to file a charge against Bodejo.

However, at Wednesday’s proceedings, the Defence Intelligence Agency (DIA) in Abuja declined to produce the detained President of Miyetti Allah before the Federal High Court for arraignment.

Following the absence of the detainee in court, Justice Ekwo asked the counsel to the federal government, Y.A. Imana, if charges had been filed against Bodejo.

The judge said, “This court made an order that you should charge the detainee before a court of competent jurisdiction. Where is the evidence that you filed the charges before this court?”

The government lawyer, however, explained that the charge was filed yesterday, but the judge wondered why the charge was not before him.

At this point, Bodejo’s counsel, Mohammed Sheriff, informed the Court that he had filed an application seeking his client’s unconditional release from the Defence Intelligence Agency’s custody.

The counsel pleaded with the court to hear the bail application of his client.

He said, “Our bail application is dated February 26, 2024, and is seeking to admit the applicant to bail pending arraignment before a competent court.”

The prosecution counsel, Y.A Imana, however, vehemently objected to the request for bail of the detainee on the ground that charges against him have to do with undermining the national security of the Federal Republic of Nigeria and urged the court to dismiss the application.

She said, “We pray this court to dismiss the bail application of the detainee because it is a matter that touches on national security.”

Justice Ekwo, after taking arguments from lawyers, fixed March 22 for ruling on whether to grant the bail request or not.

DeLaRue:
I personally believe Mr Tinubu is the best President we have had for a long term.

He is making very tangible changes that is going to help this country in the long run, but people are not noticing.

Even so called restructuring that people are shouting, he is changing things little by little but many people don't know how significant some of the changes are. I am sure he likes it that way. Most of the press are not even noticing.

This man is the most clever and formidable leader Nigeria has had since Babangida.

I have also been taken aback by his hardworking spirit and disarming personae.

emkz:
I was writing when your response came in. I gave a full response of what happened.

You asked me not to attack Peter Obi. But Obi peddled falsehood with.

Peter Obi allegedly studied philosophy. One critical issue in philosophy is logic.

Peter Obi's reasoning falls within the ad populum or bandwagon fallacy (latching on an opinion because it is popular), false attribution (appealing to fabricated sources), and hasty generalization. This fellow is well known for his statistical fallacies.

You fell for the trap Senator Abdul Ningi set, which Peter Obi himself fell for. Ningi was wrong by understanding the budget presented in order to sell Tinubu poorly to his people. A simple Google search would reveal the exact budget presented by Tinubu!

With all Obi's flaws and fallacies, why don't you ever think beyond what he says and support him with critical feedback? Peter Obi successfully latched on your anger to control you like mob mentality, no ideology beyond hate and senselessness. He is no different from a hypnotist, who puts many to sleep to fück them three ways from Sunday.

Goodnewsforlife:
u igbos should rest

Wailing will never make obi president

ablejesus26:
Notice that whenever news or threads that highlights the suffering, Insecurity and hardship Nigeria is going through under this maximum FAILURE called Tinubu pops up here,You will definitely get find the shameless tribalistic Apc urchins draw their co shameless ipob tribalist to derail the thread with Yoruba vs Igbo tribal gbasgbos

Does this change the reality We live in?
On the streets of Nija,all man from different Tribes, Religion,sect agrees that Tinubu and His evil APC structure is a maximum FAILURE,an epitome of DISAPPOINTMENT

Whenever any thread highlights the suffering and insecurity We have at hand under this COLLOSAL FAILURE CALLED TINUBU,expect to see this group of shameless tribalist to divert the thread to tribal gbasgbos

Haffez777,bobloco,strafudeen,chiagozin,Ola9ja23,paraman,esnbrutality,yerimo throwback,seunsmg,emergingnation3,
Racoon,Igbojew,morh247.

The Comptroller-General of Customs (CGC), Bashir Adewale Adeniyi, has said that President Bola Tinubu has directed the Nigerian Customs Service to return all seized grains to their owners for onward retailing in the Nigerian markets.

The CGC disclosed this during a stakeholder meeting at Kwangwalam, a border town in the Maiadua Local Government Area of Katsina State on Saturday.

He said the directive was given by the president in his magnanimous gesture of ensuring that people of the country have enough food to buy at cheaper prices from the markets.

He said, however, the return of the confiscated food items to the owners was based only on the condition that it would be sold in the Nigerian markets.

“The whole idea is to promote food security and ensure that Nigerians will not be living with hunger and Mr President considers this as one of the strategies that can help address the problem of food security.

“We have over 120 trucks of food items for export seized, which means a lot of food items were taken out of our markets, leading to the unavailability that created some pressure on the prices of these food items. So, we hope that by the time we restock our markets, it will have some positive effects on the prices,” he said.

The CGC visited former President Muhammadu Buhari in his country home of Daura as well as the emir of Daura, Dr Umar Farouq Umar in his palace where he was conferred with the traditional title of Mabudin Hausa by the emir.