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Fuel Subsidy Jonathan Seeks Approval For N161.6bn
President Goodluck Jonathan has requested the Senate’s approval of N161.6 billion as fuel subsidy under a supplementary budget for 2012.
The request was contained in a letter he sent to the Senate and read by Senate President David Mark yesterday.
Jonathan said that the supplementary budget was to accommodate the outstanding arrears resulting from the forensic audit exercise of the fuel subsidy scheme.
He added that it was also to ensure steady supply of petroleum products during the festive season.
“As at now, the sum of N880.2 billion has been paid out leaving a balance of N7.7 billion.
“Jonathan also forwarded a request for the confirmation of some members of the Federal Civil Service Commission,” the letter said.
The nominees are Dr Ngozi Etolue (Anambra), Mr Hope Ikiriko (Rivers), Prof. Aminu Sheidu (Kogi), Mr Emmanuel Ihedioha (Abia) and Mr Joseph Akande (Osun).
A Lagos High Court in Igbosere hearing an oil subsidy fraud case against Abubakar Peters yesterday ordered his continued remand in the custody of the Economic and Financial Crimes Commission (EFCC).
Justice C.A. Balogun ordered that Peters, the Managing Director, Nadabo Energy Ltd., be remanded in the commission’s custody till December 18, when his bail application would be determined.
The EFCC had on December 10 arraigned the defendant and his company on a two-count charge of fraudulently obtaining N1.5 billion from the Federal Government through the Petroleum Support Fund.
In a bail application, Mr Taiwo Taiwo, counsel to the defendant, had urged the court to grant the defendant bail on self recognition, as his client’s father was a former Commissioner of Police.
Taiwo also disclosed that Peters was also suffering from an undisclosed ailment which required him to travel to the USA for treatment.
He said that the defendant’s father was ready to stand as surety for him.
“The defendant was not invited or arrested by the Commission but he came to the court when he knew that there was a case instituted against him. “The offence is a bailable one and I urge the court to admit my client to bail,” he added.
However, Mr Ben Ubi, EFCC counsel, opposed the application, claiming that the defendant had earlier jumped bail when granted administrative bail by the EFFC.
Ubi said: “If the court admits the defendant to bail, he will jump bail just as he has done before. We urge the court to commence accelerated hearing as we are fully ready to commence the trial of the case.”
Peters and his company, according to the charge, committed the offence between February and April 2012 by falsely claiming that the N1.5 billion represented subsidy accruing to it from the importation of premium motor spirit.
The EFCC said that the offences committed were contrary to Sections 1 (2) and (3) of the Advanced Fee Fraud and Other Fraud Related Offences Act, 2006.
However, the accused pleaded not guilty to the two-count charge when it was read to him. Balogun then adjourned the substantive case to January 16, 2013 for trial.
News
Independence Anniversary: Nigeria Is A Failed Grandfather – Monarch
A first class traditional ruler in Rivers State, His Royal Majesty, King Aaron Ikuru, has described Nigeria at 65 as a grandfather who cannot provide leadership to other African Countries.
The monarch stated this in an interview at his palace in Ikuru Town, yesterday.
According to him, Nigeria would have been a developed country to set the pace in the whole of Africa, considering its numerous resources.
“Nigeria is a grandfather but not behaving as a grandfather. Our country, Nigeria, before and from the era of Independence was in the state of becoming a great country, but unfortunately is not becoming anything.
“We should be far ahead with what we have in the country. God blessed us, we have almost what it takes in terms of mineral resources, manpower amongst others that can drive speedy development in the country.
“If we’re able to harness all the things we have, even America by now would have respected us”, he said.
While blaming the past leaders of the country, the monarch called on the current leadership of the country to redouble efforts in order to narrow the differences in terms of development, exchange rate between naira and foreign currencies.
King Ikuru, who is also the Chairman of Andoni Area Traditional Rulers Council, however, lauded the efforts of the founding fathers, past leaders of the country for the achievements so far.
He also expressed optimism that Nigeria would be great, calling on the opinion leaders to shun tribalism and political intolerance in the country.
“If Nigeria should experience rapid development in all sectors, it means we must shun tribalism and political intolerance, the interest of our country must be our priority.
“We need to fight corruption vigorously, and leaders must show good example of discipline and integrity”, he said.
The monarch used the opportunity to wish Nigeria happy independence anniversary.
By: Enoch Epelle
News
FG begins payment of N32,000 pension increment to retirees – PTAD
The Pension Transitional Arrangement Directorate has announced the start of implementation of the new pension increments for pensioners under the Defined Benefit Scheme, saying the adjustments will be reflected in the September 2025 payroll cycle.
In a statement signed by Management and posted on its X handle, PTAD said the increase package includes a fixed N32,000 payment alongside percentage increases of 10.66% and 12.95% for eligible categories, which will benefit about 832,000 pensioners under its management.
Recall that PTAD in August announced President Bola Tinubu approved a series of measures, including new welfare benefits for pensioners under DBS.
The approval follows a formal request by PTAD’s Executive Secretary, Tolulope Odunaiya, seeking an emergency budgetary allocation to implement pension reforms and welfare benefits for the scheme’s retirees.
The measures include a N32,000 pension increment, percentage increases for pensioners of defunct and privatised agencies, pension harmonisation for all DBS pensioners, enrolment into the National Health Insurance Scheme, and the settlement of long-standing unfunded pension liabilities.
In a statement yesterday, PTAD said the partial release of N820.188 billion by the Federal Ministry of Finance from the emergency funding has made it possible for pensioners to begin receiving the enhanced payments immediately.
The statement read, “Further to the President’s approval of the emergency budgetary allocation for the payment of the new pension increment rates for Pensioners under the Defined Benefit Pension Scheme (DBS) that was earlier published by the Pension Transitional Arrangement Directorate on Friday, 8th August, 2025, the Directorate is delighted to announce the commencement of the implementation of the 832,000, 10.66% and 12.95% pension increment for eligible pensioners under the management of PTAD, in the September 2025 pension payroll cycle.
“This achievement has been made possible through the partial release of 820.188 billion by the Federal Ministry of Finance, from the initial 845 billion emergency funding approval granted by the Federal Government.
“This milestone clearly reaffirms the Federal Government’s dedication to safeguarding the welfare and entitlements of DBS Pensioners in line with the Renewed Hope Agenda.”
The directorate thanked President Bola Ahmed Tinubu for approving the emergency allocation.
It also acknowledged the role of the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun; the Minister of State for Finance, Dr Doris Uzoka-Anite; the Accountant-General of the Federation and key presidential aides and parliamentary committees for their “timely interventions” and support.
The statement also expressed appreciation to organised pension groups, including the Nigeria Union of Pensioners and the Federal Parastatals and Private Sector Pensioners Association of Nigeria, for their cooperation during negotiations and implementation planning.
“We further assure all our DBS Pensioners and Stakeholders that the Directorate will continue to collaborate with the relevant authorities towards release of the outstanding approved funds and subsequent fulfilment of all future obligations relating to the pension increments and the landmark reforms,” the statement added.
The DBS covers pensioners who retired before the introduction of the Contributory Pension Scheme in 2004, including those from defunct public institutions, privatised agencies, and treasury-funded parastatals.
Over the years, many have faced irregular payments, delayed harmonisation, and inadequate healthcare access, challenges that the new reforms are expected to address.
News
Nigeria At 65: NOA urges citizens to foster unity, progress
The National Orientation Agency (NOA) has urged Nigeria. citizens to remain united, peaceful to enhance development of the nation as it celebrates 65th independence anniversary.
Mr Mkpoutom Mkpoutom, Director of NOA in Akwa Ibom, gave the charge in Uyo yesterday while addressing newsmen and stakeholders to mark the anniversary.
Mkpoutom said it was essential to recognise that the strength of Nigeria lay in its diversity
“With over 250 ethnic groups and an array of languages, the nation embodies a unique blend of heritage.
“This diversity should be seen not as a dividing line but as a unifying force that propels the country toward progress.
“As Akwa Ibom embarks on another year, it is crucial for all citizens to foster a sense of unity and shared purpose.
“Embrace dialogue, understanding and collaborate with the Renewed Hope Agenda of President Bola Tinubu in its efforts to addressing pressing challenges like poverty, security, education, and healthcare, thereby paving way for a brighter future for all.”
The state director, however, appealed to Nigerians from all walks of life to renew their commitment to a more prosperous, peaceful, and equitable nation.
“Let this anniversary serve as a reminder of the collective strength that lies in every citizen,” he said.
He urged everyone to contribute positively to the development of a better society.
Mkpoutom urged the people and all citizens to honour the labours of heroes past, as they celebrated the present, while working diligently toward a future filled with hope and opportunities for generations to come.
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