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FG’s N24bn Monthly Oil Subsidy Fictitious -PDP …Decries Harassment Of Members, Supporters …Criticises Buhari Over Taraba Visit

The Federal Government is trying to cover a “huge fraud in the presidency by declaring it spends N24 billion monthly (N774 million per day) to subsidise fuel in the country,” the Peoples Democratic Party (PDP) has alleged.
The party described the figure as “fictitious and cleverly fabricated to retire the already exposed stealing of trillions of naira by the presidency cabal and All Progressives Congress (APC) interests in secret oil deals.”
PDP’s National Publicity Secretary, Kola Ologbondiyan, in a statement, yesterday, said: “It is duplicitous for the Nigerian National Petroleum Corporation (NNPC) to claim a sudden surge in fuel purchase expenses at the same time the nation faced the harshest fuel shortage across the country, with Nigerians paying exorbitantly for the product.”
According to the PDP, “The APC-led presidency is drawing its deceptive proclivity and concealment of fraud too far. And to think that such is hatched in a sector that is under the direct supervision of President Muhammadu Buhari as Minister of Petroleum Resources is most disheartening.
“This is the same presidency that claimed to have abolished fuel subsidy payments and even accused the immediate past administration of alleged corruption in its subsidy management. It is, therefore, strange that the same government can pull out unimaginable figures and claim it is the cost of subsidy enjoyed by Nigerians.”
The party further queried: “How come that with such humongous sums, Nigerians are still paying as high as N250 to N300 per litre on fuel in various parts of the country? We have since charged the Buhari-led presidency to come out clear on the administration of subsidy under its watch. The question is, why is the Federal Government cloaking the subsidy regime in secrecy, if not to conceal its duplicity?”
The PDP said: “Nigerians need to know who in the presidency approved the spending of the said N774 million per day as fuel subsidy and who the benefiting companies are. Is the subsidy captured in any appropriation instrument of the National Assembly? What is the cost of landing imported fuel to the depots and at what exchange rate? Where are the details of the subsidy payout and the negotiating options and contracts?
“In reeling out its figures, the presidency has forgotten that Nigerians are still waiting for its explanations on the leaked memo showing alleged corrupt oil contracts at the NNPC to the tune of N9 trillion ($25 billion dollars). The presidency has also refused to offer explanations on the alleged involvement of its officials in various sneaky oil subsidy deals and reported diversion of N1.1 trillion worth of crude, last year, to service APC interests.”
As if finally out with a solution to fuel importation and the attendant subsidy payments, the NNPC has said it is targeting the reduction of capital flight in procurement and cost of producing a barrel of crude oil.
Speaking in Abuja, yesterday, NNPC’s Group Managing Director (GMD), Maikanti Baru said the corporation is working smart to bring more money into the coffers of the federation.
“The more we bring down the cost of producing oil and gas, the more money we bring into the pockets of federal, state and local governments. We are driving the Nigerian content agenda to essentially bring down cost. We have brought down the cost of production of a barrel of oil to about $20. Our target is $15. And we will continue to march towards that,” Baru said.
The GMD, who was represented at the 2018 edition of Technology and Innovation Expo by Chief Operating Officer, Gas and Power, Saidu Mohammed disclosed that the corporation has domesticated engineering, procurement, construction and most of the major activities in the oil and gas industry.
He said: “We have collaborated with the Nigerian Content Development Board. We have also got Nigerians who are innovative to go into fabrication. What we want to do is make sure that we domesticate the big chunk of where we spend the money, which is procurement. We have fabrications going on. We have also gone into the fabrication of vessels. What we are doing is to support all sorts of innovation.”
Commenting on the Ajaokuta-Kaduna and Kano pipeline project, the GMD said the pipelines were fully domesticated in accordance with the local content policy of the Federal Government. He added that Nigerians would do all the pre-commissioning and commissioning services.
Meanwhile, the Peoples Democratic Party, PDP, has decried what it described as the continuous harassment, arrests and detention of its members in various parts of the country by agents and officials of the All Progressives Congress (APC)-controlled Federal Government, calling on the international community to intervene. The party said its members in Edo, Rivers, Kaduna, Kogi, Borno, Adamawa and other parts of the country are being hounded by the ruling party just because its members spoke against the despotic tendency of the APC government.
In a statement by its National Publicity Secretary, Kola Ologbondiyan yesterday, the party said the lives of its members and supporters “are increasingly at risk as the government is becoming more intolerant of opposition, particularly, having realized that its chances of getting re-elected in 2019 has dimmed as the people have rejected it due to its abysmal performance in the nearly three years of misrule.”
PDP also said Nigerians now live in fear as the APC-led government frequently violates their fundamental human rights and also uses aggression and cruelty to stifle opposition voices in the country.
It however called on “all good-spirited Nigerians and the international community to stand up and condemn” what it described as the undemocratic acts, rights violation and corruptions perpetrated by the APC government. The statement said,”
The PDP is alerting the entire world of the increasing aggression and cruelty against opposition members and perceived opponents of government by the APC-led Federal Government, which is now using the apparatus of state power in their desperation to cow and subjugate opposition, suppress constitutionally guaranteed freedom of speech and association in our country.
“Today, there is thoughtless abuse of human rights in our country and the people now live in fear. Opposition members are now being arrested, manhandled and detained, with some of them having their family houses demolished for holding and expressing opinion even under a democracy.
“Currently, our members and supporters in many states including Edo, Rivers, Kaduna, Kogi, Borno, Adamawa and others are being hounded for expressing opinion, particularity on the exposed corruption, abuses, constitutional violations and incompetence of the APC administration.
“As we speak, our Edo state Chairman, Chief Dan Orbih, was summoned, questioned and his personal freedom curtailed by the police in Edo state for daring to speak against corruption in the state, an action which the unscrupulous officers at the command boasted will teach him and PDP members in the state, a lesson.
We commend Chief Dan Orbih for his forthrightness even in the face of harassments and intimidation by the APC. “In Kogi state, there are reports of APC agents attacking and destroying property belonging to opposition members and supporters.
Nigerians have not forgotten how the APC government in Kaduna state demolished property belonging to opposition members and perceived political opponents; how the PDP secretariat in Borno was destroyed and how our property and those of our supporters were destroyed by agents of government in Adamawa state.
“We decry this raging intimidation of our party officials, members and supporters and call on all good-spirited Nigerians and the international community to stand up and condemn this drift towards a stone age despotism.
“Nigeria is a democratic state and we reject any attempt by anybody to suppress the constitutionally guaranteed rights of the people, particularly regarding the choice of how they can be governed.
“The APC has failed and should not be allowed to vent its frustration on innocent Nigerians,” the statement concluded
Similarly, the Peoples Democratic Party (PDP) has said a recent statement made by President Muhammadu Buhari during a visit to Taraba state, where he compared the number of deaths through killings in affected states, was not only morbid but ill-thought.
It also said the President’s planned visits to states affected by bloodletting and violence was an after-thought and not altruistic.
The President last Monday visited Taraba state to condole with those affected by recent violence caused by herdsmen/farmers clashes.
In Taraba, Mr. Buhari hit the nerves of many critics when he said the number of persons killed in violent clashes in Mambilla Plateau, Sardauna Local Government Area of Taraba State, was more than “those killed in Zamfara and Benue States combined”.
The PDP said the “ill-thought remark” has vindicated its position that the scheduled trips to states “where Nigerians are being killed by marauders is cosmetic and a political afterthought that did not come from Mr. Buhari’s heart”.
The party in a statement yesterday by its national publicity secretary, Kola Ologbondiyan, expressed disbelief at the president’s dismissal of public criticism over his delay in visiting the troubled areas.
“Nigerians wondered why President Buhari did not put figures to the tally since what appears to be of interest is the morbid comparison of how many Nigerians were killed from state to state.
“The party is however not surprised by President Buhari’s comments as well as the failure to visit the victims to directly assure them as the APC-controlled Federal Government had always exhibited thoughtless disdain towards the feelings and well being of the masses.
“When well-meaning Nigerians said the visits were cosmetic and a political gambit, some apologists of the APC dismissed it as a mere political statement. Now, the action and comments by the President during his whistle stop visit to Taraba state have bared it all.”
The party also flayed the president for “not directly visiting the families affected” during his visit to Taraba.
“Not only that our dear President holed himself in the comfort of the Taraba State Government House for a brief meeting with few government officials, he did not visit the victims to directly commiserate and allay their fears with assurances of steps to ensure justice and end the carnage, as his allusions almost re-opened old wounds.
“Is it not surprising that the same president who, last Saturday, had all the time at a wedding ceremony in Kano state did not even spare a minute to visit victims of a carnage where a soothing word from him would have been the balm for justice and peace?
“Furthermore, the President’s declaration that Nigerians should not expect him to “always go out to the field” not only negates his promise to lead from the fronts, but also shows that he has become distant from the real feelings, demands and sensibilities of the people.
“Also, Nigerians were shocked by the President’s claims of having performed in providing security in the country, even in the face of the daily bloodletting in the land. Perhaps, he was not aware, as usual, that while he was in Taraba, marauders were having a field day slaughtering women and children in neighboring Benue state.
“It is clear to all that this Presidential roadshow serves no purpose to the people, but merely designed as a gambit to score cheap political point and falsely portray the administration as caring, particularly seeing that the 2019 election is around the corner.”
“The party is however not surprised by President Buhari’s comments as well as the failure to visit the victims to directly assure them as the APC-controlled Federal Government had always exhibited thoughtless disdain towards the feelings and well being of the masses.
“When well-meaning Nigerians said the visits were cosmetic and a political gambit, some apologists of the APC dismissed it as a mere political statement. Now, the action and comments by the President during his whistle stop visit to Taraba state have bared it all.”
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Tinubu Signs Four Tax Reform Bills Into Law …Says Nigeria Open For Business

President Bola Tinubu yesterday signed into law four tax reform bills aimed at transforming Nigeria’s fiscal and revenue framework.
The four bills include: the Nigeria Tax Bill, the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill.
They were passed by the National Assembly after months of consultations with various interest groups and stakeholders.
The ceremony took place at the Presidential Villa, yesterday.
The ceremony was witnessed by the leadership of the National Assembly and some legislators, governors, ministers, and aides of the President.
The presidency had earlier stated that the laws would transform tax administration in the country, increase revenue generation, improve the business environment, and give a boost to domestic and foreign investments.
“When the new tax laws become operational, they are expected to significantly transform tax administration in the country, leading to increased revenue generation, improved business environment, and a boost in domestic and foreign investments,” Special Adviser to the President on Media, Bayo Onanuga said on Wednesday.
Before the signing of the four bills, President Tinubu had earlier yesterday, said the tax reform bills will reset Nigeria’s economic trajectory and simplify its complex fiscal landscape.
Announcing the development via his official X handle, yesterday, the President declared, “In a few hours, I will sign four landmark tax reform bills into law, ushering in a bold new era of economic governance in our country.”
Tinubu made a call to investors and citizens alike, saying, “Let the world know that Nigeria is open for business, and this time, everyone has a fair shot.”
He described the bills as not just technical adjustments but a direct intervention to ease burdens on struggling Nigerians.
“These reforms go beyond streamlining tax codes. They deliver the first major, pro-people tax cuts in a generation, targeted relief for low-income earners, small businesses, and families working hard to make ends meet,” Tinubu wrote.
According to the President, “They will unify our fragmented tax system, eliminate wasteful duplications, cut red tape, restore investor confidence, and entrench transparency and coordination at every level.”
He added that the long-standing burden of Nigeria’s tax structure had unfairly weighed down the vulnerable while enabling inefficiency.
The tax reforms, first introduced in October 2024, were part of Tinubu’s post-subsidy-removal recovery plan, aimed at expanding revenue without stifling productivity.
However, the bills faced turbulence at the National Assembly and amongst some state governors who rejected its passing in 2024.
At the NASS, the bills sparked heated debate, particularly around the revenue-sharing structure, which governors from the North opposed.
They warned that a shift toward derivation-based allocations, especially with VAT, could tilt fiscal balance in favour of southern states with stronger consumption bases.
After prolonged dialogue, the VAT rate remained at 7.5 per cent, and a new exemption was introduced to shield minimum wage earners from personal income tax.
By May 2025, the National Assembly passed the harmonised versions with broad support, driven in part by pressure from economic stakeholders and international observers who welcomed the clarity and efficiency the reforms promised.
In his tweet, Tinubu stressed that this is just the beginning of Nigeria’s tax evolution.
“We are laying the foundation for a tax regime that is fair, transparent, and fit for a modern, ambitious Nigeria.
“A tax regime that rewards enterprise, protects the vulnerable, and mobilises revenue without punishing productivity,” he stated.
He further acknowledged the contributions of the Presidential Fiscal Policy and Tax Reform Committee, the National Assembly, and Nigeria’s subnational governments.
The President added, “We are not just signing tax bills but rewriting the social contract.
“We are not there yet, but we are firmly on the road.”
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Senate Issues 10-Day Ultimatum As NNPCL Dodges ?210trn Audit Hearing

The Senate has issued a 10-day ultimatum to the Nigerian National Petroleum Company Limited (NNPCL) over its failure to appear before the Senate Committee on Public Accounts probing alleged financial discrepancies amounting to over ?210 trillion in its audited reports from 2017 to 2023.
Despite being summoned, no officials or external auditors from NNPCL showed up yesterday.
However, representatives from the representatives of the Economic and Financial Crimes Commission, Independent Corrupt Practices and Other Related Offences Commission and Department of State Services were present.
Angered by the NNPCL’s absence, the committee, yesterday, issued a 10-day ultimatum, demanding the company’s top executives to appear before the panel by July 10 or face constitutional sanctions.
A letter from NNPCL’s Chief Financial Officer, Dapo Segun, dated June 25, was read at the session.
It cited an ongoing management retreat and requested a two-month extension to prepare necessary documents and responses.
The letter partly read, “Having carefully reviewed your request, we hereby request your kind consideration to reschedule the engagement for a period of two months from now to enable us to collate the requested information and documentation.
“Furthermore, members of the Board and the senior management team of NNPC Limited are currently out of the office for a retreat, which makes it difficult to attend the rescheduled session on Thursday, 26th June, 2025.
“While appreciating the opportunity provided and the importance of this engagement, we reassure you of our commitment to the success of this exercise. Please accept the assurances of our highest regards.”
But lawmakers rejected the request.
The Committee Chairman, Senator Aliyu Wadada, said NNPCL was not expected to submit documents, but rather provide verbal responses to 11 key questions previously sent.
“For an institution like NNPCL to ask for two months to respond to questions from its own audited records is unacceptable,” Wadada stated.
“If they fail to show up by July 10, we will invoke our constitutional powers. The Nigerian people deserve answers,” he warned.
Other lawmakers echoed similar frustrations.
Senator Abdul Ningi (Bauchi Central) insisted that NNPCL’s Group CEO, Bayo Ojulari, must personally lead the delegation at the next hearing.
The Tide reports that Ojulari took over from Mele Kyari on April 2, 2025.
Senator Onyekachi Nwebonyi (Ebonyi North) said the two-month request suggested the company had no answers, but the committee would still grant a fair hearing by reconvening on July 10.
Senator Victor Umeh (Anambra Central) warned the NNPCL against undermining the Senate, saying, “If they fail to appear again, Nigerians will know the Senate is not a toothless bulldog.”
Last week, the Senate panel grilled Segun and other top executives over what they described as “mind-boggling” irregularities in NNPCL’s financial statements.
The Senate flagged ?103 trillion in accrued expenses, including ?600 billion in retention fees, legal, and auditing costs—without supporting documentation.
Also questioned was another ?103 trillion listed under receivables. Just before the hearing, NNPCL submitted a revised report contradicting the previously published figures, raising more concerns.
The committee has demanded detailed answers to 11 specific queries and warned that failure to comply could trigger legislative consequences.
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17 Million Nigerians Travelled Abroad In One Year -NANTA

The National Association of Nigerian Travel Agencies (NANTA) said over 17 million Nigerians travelled out between 2023 and 2024.
This is as the association announced that it would be organising a maiden edition of Eastern Travel Market 2025 in Uyo, Akwa Ibom State capital from 27th to 30th August, 2025.
Vice Chairman of NANTA, Eastern Zone, Hope Ehiogie, disclosed this during a news briefing in Port Harcourt.
Ehiogie explained that the event aims to bring together over 1,000 travel professionals to discuss the future of the industry in the nation and give visibility to airlines, hospitality firms, hospitals and institutions in the South-South and South-East, tagged Eastern Zone.
He stated that the 17 million number marks a significant increase in overseas travel and tours.
According to him, “Nigerian travel industry has seen significant growth, with 17 million people traveling out of the country in 2023”.
Ehiogie further said the potential of tourism and travel would bring in over $12 million into the nation’s economy by 2026, saying it would be a major spike in the sector, as 2024 recorded about $4 million.
“The potential of tourism and travel is that it can generate about $12 million for the nation’s economy by 2026. Last year it was $4 million.
“In the area of travels, over 17 million Nigerians traveled out of the country two years ago for different purposes. This included, health, religious purposes, visit, education and others,” Ehiogie said.
While highlighting the potential of Nigeria’s tourism, he said the hospitality industry in Nigeria has come of age, saying it is now second to none.
The Vice Chairman of NANTA, Eastern Zone further said, “We are not creating an enabling environment for business to thrive. We need to support the industry and provide the necessary infrastructure for growth.”
He said the country has a lot of tourism potential, especially as the government is now showing interest in and supporting the sector.
Ehiogie emphasized that NANTA has been working to support the industry with initiatives such as training schools and platforms for airlines and hotels to sell their products.
He added, “We now have about four to five training schools in the region, and within two years, the first set of students will graduate. We are helping airlines sell tickets and hotels sell their rooms.”
Also speaking, former Chairman of the Board of Trustees of NANTA, Stephen Isokariari of Dial Travels, called for more support from the industry.
Isokariari stated, “We need to work together to grow the industry and contribute to the nation’s Gross Domestic Product.
“With the right support and infrastructure, the Nigerian travel industry has the potential to make a significant contribution to the nation’s economy.”