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Senate Approves MTEF/FSP Probes NNPCL Over N8.4trn Withheld Subsidy Funds

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The stage is set for the presentation of 2025 budget by President Bola Tinubu to the joint session of the National Assembly as the Senate yesterday approved the 2025–2027 Medium Term Expenditure Framework, MTEF and Fiscal Strategy Paper, FSP earlier submitted by the President.
The approval followed the adoption of the report of Senate joint Committees on Finance; and National Planning & Economic Affairs, chaired by Senator Sani Musa during plenary.
This was even as the Red Chamber mandated its Committees on Finance; Petroleum (Upstream) and Petroleum (Downstream) as well as Gas to investigate reports from the Revenue Mobilisation, Allocation and Fiscal Responsibility Commission, RMAFC, alleging that the Nigerian National Petroleum Company Limited, NNPCL withheld N8.48 trillion as claimed subsidies for petrol.
It noted that the investigation would address the Nigeria Extractive Industries Transparency Initiative, NEITI report, stating that NNPCL failed to remit $2 billion (N3.6 trillion) in taxes to the Federal Government.
The Senate further directed its committees to verify the total cumulative amount of the alleged unremitted revenue (under-recovery) from the sale of Premium Motor Spirit, PMS also known as petrol by the NNPCL between 2020 and 2023.
It, however, directed the relevant committees to carry out in-depth investigation of such agreements by the NNPCL, Nigerian Liquefied Natural Gas, NLNG and Immigration Services with a view to reconcile remittances to the Federation Account.
Approving the 2025–2027 Medium Term Expenditure Framework, MTEF and Fiscal Strategy Paper, FSP, the Senate in three years projections, pegged the exchange rate at N1,400/$ for 2025, 2026 and 2027 respectively.
It also projected oil benchmark prices at $75, $76.2 and $75.3 per barrel for 2025, 2026 and 2027 respectively.
The Senate added that the three-year projections for domestic crude oil production had a significant increase from 1.78m bpd in the preceding year to 2.06, 2.10 and 2.35 for the subsequent years of 2025, 2026 and 2027, respectively.
It further projected Gross Domestic Product, GDP growth rates of 4.6 per cent, 4.4 per cent, and 5.5 per cent for 2025, 2026 and 2027.
The Red Chamber also projected the inflation rates at 15.75 per cent, 14.21 per cent, and 10.04 per cent for 2025, 2026 and 2027 respectively.
It, however, demanded a reduction in the petrol prices against the backdrop of the commencement of production at the Port Harcourt refinery.
According to the recommendations, “The 2025 Federal Government of Nigeria budget proposed spending of N47.9trilion of which N34.82 trillion is retained. New borrowings stood at N9.22trillion, made up of both domestic and foreign borrowings.
“Capital expenditure is projected at N16.48 trillion with statutory transfers standing at N4.26 trillion and sinking funds projected at N430.27billion.”
Speaking during debate on the report, the chairman of the Senate Committee on Appropriations, Senator Solomon Adeola referenced the Federal Government’s Compressed Natural Gas, CNG initiative as the underlying imperative for the adoption of the N1,400 to one dollar.
“With the functioning of our refineries the demand for Forex will drop. With the CNG initiative, Nigerians will have an option for your information if you leave Benin to Lagos the amount of fuel is about 130,000 but with CNG you can’t use more than N48,000. Another issue to be addressed is the recurrent to-capital ratio which is very high,” he said.
In his contribution, the former Senate Leader, Senator Yahaya Abdullahi n stressed the need to support the manufacturing industries if the projections of the MTEF are to be achieved.
In his remarks, the Senate President, Senator Godswill Akpabio commended the chairman and members of the joint committees for their indepth analysis and general good work done on the document.

Nneka Amaechi -Nnadi

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Army Detains Soldier Over Alleged Assault In Benue 

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The Nigerian Army says it has taken into custody Christopher Emmanuel, who allegedly assaulted a female vendor, Doshima, in Kula, Gwer West Local Government Area of Benue.

This was contained in a statement by the Acting Assistant Director, Army Public Relations, 401 Special Forces Brigade, Makurdi, Capt. Abdullahi Osabo, yesterday.

Osabo said the Headquarters Operation Whirl Stroke took cognisance of the incident, which occurred on May 6 and reported on May 8.

He said the incident might have stemmed from a dispute over an unpaid debt, with allegations suggesting that the soldier claimed the woman insulted him during a phone conversation.

According to him, it is further alleged that this confrontation may have escalated into a physical altercation, which is now under investigation.

“Private Christopher Emmanuel is currently in custody, and a thorough investigation will be conducted to determine the circumstances surrounding the incident.

“The Nigerian Army has zero tolerance for human rights abuses and will take disciplinary action based on findings of the investigation.

“The leadership of the Nigerian Army assures the general public and the victim that justice will be served in line with the military’s high standards.

“OPWS strongly condemns any form of indiscipline or human rights abuse by its personnel,” he said.

Osabo urged members of the public to report any instances of abuse by Nigerian army personnel to the Human Rights Desk helpline instead of using social media.

He gave the assurance that all reports of infractions by army personnel were viewed seriously, investigated, and sanctions applied where personnel were found culpable.

“We appreciate your understanding and cooperation,” he added.

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S’Court Holds Valedictory Session For Late Justice Ogwuegbu, Wed

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The Supreme Court of Nigeria will hold a valedictory court session on Wednesday, May 14, to honour the late Justice Emmanuel Ogwuegbu, a former Justice of the court who passed away in October last year.

The session is scheduled to take place at 2.pm in the main courtroom of the Supreme Court.

A statement issued yesterday by the Director of Information and Public Relations of the apex Court, Dr Festus Akande, revealed that the late judicial icon died peacefully in his sleep on October 28, 2024, at the age of 91.

Born on March 16, 1933, in Amainyi, Ihitte-Uboma Local Government Area of Imo State, Justice Ogwuegbu rose from a humble background to become a towering figure in the legal profession.

He was appointed a judge of the High Court of Imo State in November 1976, serving as Administrative Judge of the Owerri Judicial Division from 1976 to 1979. He later served in the same capacity in the Aba Judicial Division in 1980.

Elevated to the Court of Appeal in September 1987, Justice Ogwuegbu served in the Ibadan and Lagos Divisions before his appointment as a Justice of the Supreme Court of Nigeria in April 1992.

In recognition of his outstanding contributions to the judiciary, he was seconded by the Federal Government to serve on the Supreme Court bench of The Gambia from December 1999 to 2002.

He returned to Nigeria to continue his meritorious service at the Supreme Court until his retirement on 16 March 2003.

The valedictory session will be presided over by the Chief Justice of Nigeria, Justice Kudirat Kekere-Ekun.

Tributes will be paid to the late Justice Ogwuegbu by the Chief Justice and other key stakeholders in the nation’s justice sector.

The session will also be attended by the Attorney General of the Federation and Minister of Justice, Lateef Fagbemi (SAN).

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Over 80 Army captains to sit for 2025 promotion exam in Benin

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A total of 86 Nigerian Army captains will be sitting for the 2025 written promotion examination in Benin.

The week-long examination will run from May 12 through May 16 and is being hosted by the Nigerian Army School of Supply and Transport (NASST).

Speaking at the opening session on Sunday in Benin, Maj. Gen. Kevin Aligbe, commander, Training and Doctrine Command (TRADOC) and president of the examination saluted the candidates for reaching this pivotal point in their careers.

He described the examination as a major stepping stone to higher responsibilities and called for professionalism, discipline and zero tolerance for examination malpractice.

“The examination is part of the Nigerian Army’s structured promotion process aimed at building a professional, disciplined and merit-driven officer corps, in line with the Chief of Army Staff’s vision of a capable and responsive force.

“This is an opportunity to make a solid progression in your chosen career.

“Let me assure you that if you have prepared well, you will pass this exam without resorting to any form of malpractice. We expect nothing short of a 100 per cent success,” he said.

According to him, the examination is a key prerequisite for promotion to the rank of major while also urging all participants to give it their best, especially those making a second attempt.

He noted that only three chances were allowed by the army policy.

Mr Aligbe however, warned that any candidate caught cheating, discussing answers in the hall or violating security protocols would be disqualified and made to face further disciplinary action.

He also disclosed that awards and commendation letters, including cash prizes would be given to candidates who rank first, second and third.

He added: “our desire is to see all of you pass”, while assuring fairness and transparency in the marking process.

In his welcome address, Maj. Gen. Adebayo Adegbite, commandant of NASST, said the school was honoured to host the promotion exam.

He noted that the examination marks a critical milestone in the career development of officers.

“You have undergone a rigorous one-month preparatory cadder.

“The mock exam assessed your readiness. We expect good performance.

“Be reminded of the security situation in Benin. Avoid unnecessary movements. Move in pairs and be security conscious,” he said.

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