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Senate grills finance minister over subsidy savings, debt servicing

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The Senate on Thursday took on the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, over how much the Federal Government has saved and spent since the removal of fuel subsidy in June 2023.

Edun, who appeared before the Senate for the defence of the 2025 budget, was also taken to task on how much the Federal Government is spending on debt servicing.

In a dramatic move, however, the minister, who appeared to be unprepared for these questions, hurriedly requested a closed-door session with the lawmakers to provide answers.

Edun’s trouble began when questions were asked by some members of the appropriation committee on the state of implementation of the 2024 budget, especially the capital component.

While struggling for answers, Senator Abdul Ningi (PDP, Bauchi Central) urged Edun to explain how proceeds from fuel subsidy removal were spent in the 2024 fiscal year.

Ningi asked, “What is the budget performance achieved so far for the 2024 fiscal year, particularly in terms of capital expenditure?

“We haven’t heard from the minister how much has been saved from the removal of fuel subsidy and how much has been expended.

“We also haven’t heard from the ministers about debt servicing. How much have we actually used to service our debt in 2004?

“How much are we expecting to service debts in 2005? Finally, will the Minister of Finance guarantee that the extension of the capital component of the 2024 budget to June 30, 2025, will give the desired results in terms of implementation that has a very low percentage now?”

In what appeared a lack of readiness for the questions, Edun said, “Are we in a closed door session? If we are not in a closed door session, I will humbly seek for (sic) that, for detailed explanations on the questions asked,” he said.

The Committee Chairman, Senator Solomon Olamilekan ( APC Ogun West ), thereafter, asked accredited journalists covering the Senate to excuse them for the closed-door session.

Also grilled by the lawmakers on Thursday were the Minister of Budget and Economic Planning counterpart, Atiku Bagudu and the Director General of the National Orientation Agency, Lanre Issa-Onilu,.

Both also had a tough time defending their respective 2025 budget proposals.

Also placed on a hot seat was the Managing Director, News Agency of Nigeria, Mr Ali Mohammed.

While Edun and Bagudu were grilled by the Senate Committee on Appropriation, the heads of NOA and NAN had a tough afternoon with the Senate Committee on Information and National Orientation.

The NOA DG and his counterpart in NAN were ordered to draft afresh and present their budgetary proposals for 2025 fiscal year.

The committee chaired by Senator Kenneth Eze (APC, Ebonyi Central), tackled the NOA DG on the National Identity Project being implemented by the agency, describing it as unknown to Nigerians.

But the NOA DG, justified the significance of the project, saying, “The challenge we have about value system is about national identity which is very necessary at galvanising Nigerians for nation building, national development and growth,” he said.

It was the same for the NAN boss, who was told to go and reconcile the figures presented in the 2024 budget implementation before seeking the nod of the National Assembly for appropriation in the 2025 budget.

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Just In: Gov. Makinde approves Prince Owoade as new Alaafin of Oyo

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Governor Seyi Makinde of Oyo State has approved the appointment of Prince Abimbola Akeem Owoade as the new Alaafin of Oyo.

The announcement was made on Friday.

Commissioner for Information and Orientation, Prince Dotun Oyelade, while speaking on behalf of the governor, said that Owoade after thorough consultations and divinations, has been recommended by the Oyomesi.

He added that the name has been approved by the governor.

Details later…

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Police detain officer in viral video with Okoya’s sons abusing naira

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The Nigeria Police Force has detained a yet-to-be-named officer seen in a viral video with Wahab and Subomi, sons of billionaire businessman, Chief Razaq Okoya, abusing naira.

 

This was disclosed by the Force Public Relations Officer, Olumuyiwa Adejobi on his X handle on Friday.

 

According to him, the moment captured in the video involving the police officer is unethical and contrary to the values of the force, stressing that disciplinary action is underway to address the misconduct.

 

 

Adejobi wrote, “The policeman captured in the recent viral video shared by the sons of the Lagos businessman, Chief Okoya, where they were abusing the naira, has been identified and detained for disciplinary action.

 

“The involvement of the policeman has been condemned, as it’s unethical. We will always strive hard to uphold the sanctity, credibility, and core values of the police. Thanks.”

 

Recall that last week, the video of the two Okoya sons abusing naira has attracted widespread criticism with many believing that nothing would happen to them because of their father’s status in the country.

 

 

In the video, Wahab and Raheem Okoya are dressed in white agbada outfits and flaunting stacks of crisp N1000 notes to promote the latter’s new song titled, “Credit Alert”.

 

As the video continued, it captured the mobile policeman holding bundles of N1000 notes, while the billionaire’s sons danced and flung the cash into the air.

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Ex-IGP Okiro withdraws from Ohanaeze President General contest

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Former Inspector General of Police, Sir Mike Okiro has withdrawn from the race to occupy the position of President General of Ohanaeze Ndigbo.

Okiro made the announcement during a press briefing in Enugu on Thursday.

He hinged his decision on the order of an Enugu State High Court barring him from contesting in the election.

We recall that the court had given an injunction barring the former Police Chief based on a suit before it which claimed that he (Okiro) is from Imo State and not Rivers where the position was zoned to.

In adherence to the order, Okiro has now announced his withdrawal from the race.

The full text of his press briefing below:

“My dear brothers and sisters, I, Sir Mike Okiro CFR, President General Candidate for Ohanaeze Ndigbo Election slated for 10th January, 2025 address you today with unwavering resolve.

“I have been made aware of the Enugu State High Court’s interim order, which regrettably restrains me from contesting the Ohanaeze Ndigbo Worldwide Presidency General Election tomorrow.

“The court order, based on alleged non-indigene status, contradicts verifiable facts. It is unfortunate that the court did not invite me or heard from me before giving that obnoxious order which I got from the media. The facts are (a) That I hail from Egbema in Rivers State as shown by my National Population Commission Attestation of Birth. (b) My Traditional Ruler, the Nzeobi of Egbema, has also confirmed my indigene status of Rivers State. (c) I have written many books where my indigeneship of Rivers State is shown in the author’s column. A good example is my best seller, titled: “Nigeria: The Restructuring ‘Controversy”. (d) Page 6 of my biography written by Mr. Dozie Okebalama also shows my indigeneship of Rivers. (e) I have attended many Imeobi meetings where I represented Rivers State in the attendance list compiled by the Secretary-General. (f) As a student in the University of Ibadan, I was a member of the Rivers State Students’ Association, where I was elected as Treasurer, and another Great UIte, now Distinguished Senator Andrew Uchendu was elected as Secretary. (g) I was representing Rivers State during the meetings of the South-South People’s Assembly under our respected leader, Chief Edwin Clark, where Prof. Pat. Utomi, another Great Nigerian, represented Delta State. My records and credentials speak for themselves.

“As an Igbo man and elder statesman of Rivers State Extraction which said position has been zoned to by the electoral committee, I believe in the rule of law and shall respect the court’s order.

“My Obedience to court orders, no matter how unfavorable, demonstrates our commitment to democracy. I believe in the principles of rule of law as the rule of law ensures our collective progress.

“The rule of law safeguards our society; its principles must be upheld, our democratic values are non-negotiable, together we will emerge stronger. Our stance for justice, due process and rule of law shall vindicate us.

“I will not participate in any election pending the final determination of the matter pending before Hon Justice N.R Oji of Enugu State High Court which court gave the restraining order.

“Although I’ve not been formally served with the suit/processes or order, my commitment to law and order remains unwavering, despite the fact that the reliefs granted in the order against me appears to undermine my fundamental right guaranteed in Chapter IV of the 1999 Constitution (as amended).

“My distinguished career as Nigeria’s Inspector General of Police underscores my dedication to justice and what is noble.

“I have instructed the Chambers of Eze Okafor & Co, my lawyers to pursue the case to its logical conclusion to ensure that the purveyors of hate and lawlessness are brought to book in line with our enabling laws.

“As provided by our constitution, I demand to be heard, and I am sure that the court will ensure that the twin pillars of natural justice will be observed to the later in handling the case. We have not lost hope in our judicial system.

“I urge my immediate community Egbema, the entire Igbo speaking people of Rivers state who are solidly behind me and all my supporters across Imo, Abia, Ebonyi, Enugu, Anambra, and Delta to stand by the rule of law throughout the period of this contest.

“Our resolve strengthens Ohanaeze Ndigbo’s unity and progress. Together, we’ll navigate this challenge.

“My Governor, His Excellency, Siminialayi Fubara GSSRS unwavering support is most highly appreciated and same cannot be taken for granted. Your Excellency’s leadership indeed inspires me.

“Ohanaeze Ndigbo embodies Igbo unity, progress, and peaceful coexistence. Our organization promotes harmony among Igbos worldwide. Let’s prioritize peace and unity.

“I reaffirm my commitment to Ohanaeze Ndigbo Ideals; unity, progress and peace in Igbo land.

“Justice shall prevail; Igbo unity and progress remain our guiding principles.

“I assure all of you that we shall overcome this minor setback as our democratic values are non-negotiable.”

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