Connect with us

News

Petrol Subsidy Is Unsustainable, Says Buhari In Last Budget Presentation

Published

on

President Muhammadu Buhari
Share

 

President Muhammadu Buhari on Friday pushed for the removal of fuel subsidy in 2023, saying that the policy is not sustainable considering current economic realities.

He shared the position while presenting a N20.51 trillion 2023 budget proposal to the National Assembly.

He said, “Petrol subsidy has been a recurring and controversial public policy issue in our country since the early eighties.

“However, its current fiscal impact has clearly shown that the policy is unsustainable. As a country, we must now confront this issue taking cognizance of the need to provide safety nets to cushion the attendant effects on some segments of society.”

According to the President, discontinuing the policy is necessary for the country to manage limited resources.

“As we seek to grow our government revenues, we must also focus on the efficiency of utilization of our limited resources,” he said.

“Critical steps we are taking include immediate implementation of additional measures towards reducing the cost of governance and the discontinuation of fuel subsidy in 2023 as announced earlier.”

The President, however, hinted that provisions would be made to cushion the effects of subsidy removal.

“We are however mindful of the fact that reducing government spending too drastically can be socially destabilizing, and so will continue to implement programmes to support the more vulnerable segments of society,” he said.

The N19.76 trillion proposed for the 2023 budget represents a 15.37 percent increase on the 2022 budget.

In reviewing recent economic developments, the President warned of the dangers of revenue shortfalls.

“Mr. Senate President and Rt. Honourable Speaker, revenue shortfalls remain the greatest threat to Nigeria’s fiscal viability,” he said.

To check that threat, he explained that the Federal Government has accelerated efforts towards ensuring that all taxable Nigerians declare income from all sources and pay taxes due to the appropriate authorities.

He added, “We are also monitoring the internally generated revenues of MDAs to ensure they are appropriately accounted for and remitted to the Consolidated Revenue Fund.

“The 50 percent cost-to-income ratio in the Finance Act 2020 has significantly improved operating surplus remittances by Government Owned Enterprises (GOEs).”

He called on the National Assembly to continue cooperating with the Federal Government in enforcing the legal provision and other prudential guidelines imposed on the GOEs during the consideration of the budget proposals of the GOEs.

Efforts to tackle the threat of revenue shortfalls are already working, according to the President.

“I am happy to report that the revenue collection and expenditure management reforms we are implementing are yielding positive results, with recent significant improvements in non-oil revenue performance,” Buhari said.

“However, while we continue to implement revenue administration reforms and improve our collection efficiency, we urgently need to find new ways of generating revenue.”

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Bamidele: 2026 Electoral Act Reflects Stakeholders’ Consensus, Not Legislative Imposition

Published

on

Senate Leader, Senator Michael Opeyemi Bamidele
Share

The Leader of the Senate, Opeyemi Bamidele, has stated that the provisions of the 2026 Electoral Act were the outcome of broad consultations with stakeholders rather than unilateral decisions by the National Assembly.

In an Easter message issued on Sunday through his Directorate of Media and Public Affairs, Bamidele explained that the new electoral law aligns with global best practices and was not designed to serve any political interest. He urged political actors to adhere to the rules collectively established to ensure stability, peace, and order within Nigeria’s democratic system.

His remarks come amid criticisms from opposition parties, particularly the African Democratic Congress (ADC), which alleged that certain provisions—such as Sections 77 and 84 of the Act—were introduced to weaken their chances ahead of the 2027 general elections. However, Bamidele dismissed the claims, insisting that all sections of the law were products of consensus involving civil society groups, development partners, and other stakeholders.

He defended the requirement for political parties to submit a digital register of members to the Independent National Electoral Commission (INEC), describing it as a transparency measure aimed at preventing undue influence by individuals outside party structures. According to him, the reform is essential for strengthening internal democracy and ensuring that party decisions reflect the will of legitimate members.

Bamidele also justified the restriction of candidate nomination processes to either direct primaries or consensus arrangements, noting that the move is intended to eliminate the delegate system, which he said had been susceptible to manipulation by wealthy individuals. He added that the new system empowers party members and reinforces majority rule in line with democratic principles.

Beyond electoral matters, the Senate leader condemned recent violent attacks in Plateau and Kaduna states, describing them as unacceptable acts against innocent citizens. He assured that the National Assembly is collaborating with federal and state authorities to tackle insecurity and prevent further loss of lives.

He disclosed that ongoing legislative efforts, including amendments to the Terrorism (Prevention and Prohibition) Act, are aimed at introducing stricter penalties for kidnappers, their sponsors, and collaborators. Bamidele expressed confidence that these measures would help restore security and stability across the country.

Reflecting on Easter, Bamidele called on Nigerians, especially political leaders, to embrace the values of sacrifice, tolerance, and unity exemplified by the resurrection of Jesus Christ, urging a collective commitment to nation-building.

Continue Reading

News

FG to Deploy AI Cameras to Tackle Insecurity in Plateau — Tinubu

Published

on

President Bola Tinubu
President Bola Ahmed Tinubu
Share

 

President Bola Tinubu has announced that the Federal Government will deploy over 5,000 artificial intelligence-enabled digital cameras across Plateau State to help security agencies combat rising insecurity.

The President made this known on Thursday during a visit to Jos, following the March 29 gun attacks in Angwan Rukuba, Jos North Local Government Area, which claimed several lives. He assured residents that such incidents would not recur, pledging decisive action to bring perpetrators to justice.

Tinubu directed security chiefs, including the Minister of Defence, Chief of Army Staff, and Inspector General of Police, to track down those responsible for the killings. He also tasked the Minister of Communications and Digital Economy, Bosun Tijjani, with overseeing the immediate installation of the surveillance system, starting in Jos and later expanding across the state.

Expressing sympathy to affected families, the President said no compensation could replace lost lives but promised government support and justice. He also directed the Ministry of Humanitarian Affairs to compile data on victims to ensure fair distribution of relief.

Plateau State Governor Caleb Mutfwang described the incident as a temporary setback, noting that the state had previously enjoyed relative peace. He expressed confidence in ongoing security efforts and thanked the Federal Government for approving the recruitment of 1,000 forest guards to strengthen local security.

Stakeholders at the meeting, including former governors and political leaders, called for greater collaboration and dialogue among Plateau indigenes, stressing that lasting peace would require collective responsibility.

Continue Reading

News

El-Rufai Returned to ICPC Custody After Court Appearance in Kaduna

Published

on

Former Kaduna State Governor,Nasir El -Rufai
Share

Former Kaduna State governor, Nasir El-Rufai, has been returned to the custody of the Independent Corrupt Practices and Other Related Offences Commission (ICPC) following court proceedings in Kaduna.

El-Rufai, who had earlier left custody on March 27, 2026, due to the death of his mother, was re-arraigned on Tuesday.

He first appeared before the Kaduna State High Court over a separate charge filed by the ICPC. However, proceedings were stalled due to the absence of the second defendant, prompting the court to adjourn the case until April 10, 2026.

Following the adjournment, El-Rufai was taken to the Federal High Court in Kaduna, where his application for bail was scheduled to be heard.

The court had earlier fixed March 31, 2026, for the hearing of his bail application.

Continue Reading