Tinubu Govt To Probe Activities Of National Petroleum Company Under Buhari As Audit Reveals NNPCL Inflated Subsidy Claims By ₦3.3Trillion

A renowned global accounting firm, KPMG, has conducted a forensic audit revealing a notable inconsistency in the fuel subsidy claims filed by the Nigerian National Petroleum Company Limited (NNPCL). According to a report from iWitnessLive, the audit uncovered that NNPCL had inflated its fuel subsidy claims by a staggering ₦3.3 trillion. At first, NNPCL reported spending ₦6 trillion on fuel subsidy, with the former President Muhammadu Buhari’s government covering a significant portion of the expenses. NNPCL’s Group CEO, Mele Kyari, claimed that the federal government still owed the company ₦2.8 trillion for petrol subsidy payments, a statement made shortly after President Bola Tinubu’s declaration of the subsidy’s removal As per the May 2024 report, the government has not yet reimbursed NNPCL for this amount. “Since the provision of the ₦6tn in 2022, and ₦3.7tn in 2023, we have not received any payment whatsoever from the Federation. “That means they (the Federal Government) are unable to pay and we’ve continued to support this subsidy from the cash flow of the NNPC. We are waiting for them to settle up to ₦2.8tn of NNPC’s cash flow from the subsidy regime and we can’t continue to build this,” he said. In light of KPMG’s reconciliation, which reduced the claims to ₦2.7 trillion, the Nigerian Government intends to undertake a fresh audit of NNPC Limited’s ₦2.8 trillion fuel subsidy claim. The audit, spanning from 2015 to 2021, seeks to authenticate NNPC’s claims. The Office of the Auditor-General for the Federation (OAuGF) will spearhead the audit, with the possibility of enlisting an external firm for supplementary assistance. The resolution was reached at a Federal Account Allocation Committee (FAAC) session in March 2024, where participants deliberated on the necessity of an impartial audit to mitigate conflicts of interest. Minister of Finance and Coordinating Minister of the Economy, Wale Edun, reiterated President Tinubu’s commitment to the forensic audit. KPMG’s initial audit prompted the need for further investigation.

FG Plans 50% Subsidy For Wheat Farmers – Minister

The Minister of Agriculture Abubakar Kyari, has disclosed that the Federal Government is giving out 50 per cent subsidy to wheat farmers in the upcoming dry season farming to ensure massive production of the grain in the country. Kyari spoke to newsmen shortly after inspecting assorted seed wheat productions in Kano on Friday. “We are fully committed towards massive wheat production in the upcoming dry seasons farming for local and foreign export actions,” he said. He explained that President Tinubu’s renewed agenda was aimed at making sure that Nigeria secured food production, starting from next Month, with wheat farming taking toll in the dry season farming. The minister, who was in Kano and Jigawa to supervise the seeds production, expressed satisfaction that the local production was the vital component of the farming. “Jigawa State has shown a lot of interest in wheat farming by providing 40,000 hectares of land for wheat farming, closing on the 70,000 hectares set aside by the Federal Government to achieve this year,” he said. The minister explained that the Federal Government was making efforts to have enough seeds that would cover the 70,000 hectares provided for wheat farming. “The breeder and foundation seeds were checked before it became satisfied to phase out wheat importation before next year’s irrigation farming. “This is because importation of the wheat is taking a lot of Nigeria’s foreign reserve. Kyari noted that the Federal Government planned to secure the nation’s food production and be self-sufficient, adding that local production was one way that importation of seeds would completely be stopped. “In the next 4-5 years with the Programmes set out, Nigeria would completely stop importations of wheat seeds and be self-sufficient with the local production that would enhance food production and security.” The minister was at the National Wheat Council Ware Houses at Sharada, AA Albasu Grains Company and Alyumna Seeds Production Company.

Tinubu, subsidy, NLC and Nigeria’s economic turbulence

On May 29, 2023, during his inaugural speech, President Ahmed Bola Tinubu made a momentous decision to scrap Nigeria’s fuel subsidies, citing pressing budgetary concerns. However, this move triggered a staggering surge in fuel prices, widespread panic-buying of fuel, and a sharp increase in the cost of various essential commodities. The ramifications of the fuel subsidy removal have struck fear in the hearts of millions of Nigerians, particularly low-income earners who worry about their ability to afford transportation, education, food, and healthcare and other social amenities. In response to the government’s decision, the Nigerian Labour Congress (NLC), entrusted with the responsibility to protect and defend workers’ rights and well-being, vehemently opposed the move. Joe Ajaero, the NLC President, criticized Tinubu’s decision, asserting that it lacked careful consideration and predicted it would cause the country’s economy to regress by more than 50 percent within the coming weeks. In light of their objections, the Congress issued a seven-day ultimatum to the Federal Government, demanding the reversal of all “anti-poor” policies, including the petrol price hike. The NLC accused the government of showing disdain and contempt for the Nigerian people and declared a war of attrition on workers and the masses. Citing the strength of Section 40 of the 1999 Constitution as amended, the NLC announced on June 7 their intention to launch a nationwide protest on August 2, 2023, against the fuel subsidy removal. In response, the Federal Government took legal action, seeking to stop the union from proceeding with the proposed strike. The government argued that such industrial action could severely impact society and the nation’s overall well-being. In a ruling on an ex parte application, Justice O.Y Anuwe ordered the unions not to embark on any industrial action or strike pending the hearing and determination of the motion on notice, dated June 5, 2023. The court highlighted the potential disruptions to economic activities and essential sectors. Unfazed by the court’s injunctions, lengthy negotiation meetings, and warnings from the Federal Ministry of Justice regarding contempt of court, the NLC stood firm on their threat and flooded the streets with protesters on August 2. The demonstrations aimed to voice opposition against the recent fuel price hike, tuition fees increase in public schools, and the withholding of salaries for university lecturers and workers. Meanwhile, the government, through the Solicitor General of the Ministry of Justice, accused the NLC leaders of treating the order of the National Industrial Court (NIC) with contempt. Justice Beatrice Jedy-Agba asserted twice that the organized labour’s industrial action was illegal, as there was a subsisting interim order restraining the NLC from engaging in any industrial action. The government prayed the court to hold NLC President Joe Ajaero, Deputy Presidents Audu Aruba, Prince Adeyanju Adewale, and Kabiru Sani, General Secretary Emmanuel Ugboaja, TUC President Engr Festus Usifo, and Scribe/Chief Executive Nuhu Toro in contempt of court and commit them to prison. In response, the NLC condemned the industrial court and the Justice Ministry as “anti-democracy” agents, and they demanded the withdrawal of the lawsuit or face mass strike. Following discussions at the NLC’s NEC meeting in Abuja, the union issued a stern ultimatum, warning that failure to comply with their demand could result in a nationwide strike on August 14, 2023. This ongoing saga showcases the deep-seated tensions and concerns about the impact of the fuel subsidy removal on the lives of Nigerian citizens and the overall health of the nation’s economy. As both sides engage in a legal battle and the NLC continues its protests, the future remains uncertain, and the fate of Nigeria’s fuel subsidy hangs in the balance, even as ordinary Nigerians continue to bear the brunt.

Subsidy: Rice millers commend Tinubu’s plans for farmers

The Abakaliki Rice Millers Association in Ebonyi has hailed the Federal Government’s plans to boost farm produce in an effort to cushion the effect of the removal of fuel subsidy. President Bola Tinubu, on Monday in a nationwide broadcast, assured Nigerians of adequate food sufficiency and security. According to Tinubu, the government will ensure staple foods are available and affordable. “To this end, I have ordered the release of 200,000 metric tonnes of grains from strategic reserves to households across the 36 states and FCT to moderate prices. “We are also providing 225,000 metric tonnes of fertiliser, seedlings and other inputs to farmers who are committed to our food security agenda,” Tinubu added. Reacting to the development on Tuesday, Mr Linus Nkwuda, Chairman of the millers association said that President Tinubu’s plans to boost agriculture was a welcome development. Nkwuda, however, decried the way inputs and seedlings meant for farmers had been diverted in the past. He appealed to the federal government to distribute such items directly to the farmers. “The items; fertilizer and seedlings as listed by the President during the broadcast, are very important to all farmers. We are happy. “We need those items to succeed. Loans are also important. We commend the President and urge him not to involve political farmers during implementation,” he said. Mr Kenneth Chigozie, Secretary of Rice Farmers Association of Nigeria (RIFAN), Abakaliki branch, also urged the president to work directly with the farmers at the hinterland in the efforts to ensure food security. Chigozie noted that working directly  with farmers would ensure transparency in the distribution of farm inputs meant for its members. Chigozie, however, expressed worry about how the farmers had suffered since the removal of fuel subsidy, adding that members were faced with challenges associated with the high cost of production. He described the cost of inputs, such as seedlings, herbicides, pesticides and fertiliser as well as hiring of labourers, as worrisome. “We are happy, President Tinubu is remembering us, the farmers. His promises to us during the nationwide broadcast are a welcome development. “Our prayer is that, let those items and monies attached come to us directly,” Chigozie added. 

Subsidy: CIEPUK offers varsity scholarships to public, private sector workers’ wards

The Chartered Institute of Educational Practitioners, United Kingdom (CIEPUK) on Monday said it was set to offer university scholarship to the wards of both public and private sector workers across the country. CIEPUK had earlier revealed that it was partnering several institutions and the National Association of Private School Proprietors’ (NAPSP) to award scholarship to outstanding students in the just concluded 2023 JAMB/UTME examinations. Prof. Marcel Ezenwoye, the National President of CIEPUK, however said that the Institute had decided to extend its scholarship programme to students whose parents were either working for government or in the private sector. He said the gesture was a way of helping the workers cushion the effect of the fuel subsidy regime being introduced by President Bola Tinubu’s administration. He explained that CIEPUK was partnering several universities both within and outside the country to offer 50 percent scholarship to these children of civil servants and private sector workers in the country. Ezenwoye noted that the 50 percent scholarship would cover part of the student’s tuition, hostel and other fees throughout their four-year period in which they are expected to study in the university of their choice. He added that the 50 percent scholarship to any university of their choice, would cover both JAMB/UTME students who did very well and other students with lower scores, provided they apply between now and Aug. 30. “In line with the Federal Government’s policies on inclusive, affordable and accessible education under the able watch of President Bola Tinubu and his Vice Kashim Shettima. “Our goal is to lighten the burden of these government/private sector workers and the strain on their finances occasioned by the fuel subsidy regime. “So that for a semester, they pay N60,000 as tuition fees, N30,000 for hostel and N5,000 as medical fees for their wards. “CIEPUK has therefore decided to allocate 20 scholarship slots each to staff of the various ministries, government institutions, parastatals, agencies as well as private organisations across the country. “Interested staff with eligible wards are advised to apply through their various ministries and private organisations as CIEPUK would deal directly and officially with the management of the organisations for a seamless and well-coordinated exercise. “The beneficiaries would access categorised scholarship to enable them study the course of their choice in any of our collaborating public and private Universities and polytechnics in Nigeria and overseas, for 2023/2024 academic session. “The list of tertiary institutions involved in the scholarship programme include; Hipdet University, Cameroon, Gideon Robert University, Lusaka, Zambia, St. Monica University, Cameroon, Paul University, Awka, Tansian University, Umunya Anambra State and Maduka University, Enugu State. “Others are Covenant Polytechnic, Owerri, Temple Gate Polytechnic, Aba and Dorben Polytechnic, Abuja,” he said. “Admission forms are already on sale and first scholarship/admission screening interview holds on August 30th, 2023 at the Old Registrar’s office, Paul University, Awka or CIEPUK Head Office, Abuja at 12 noon prompt. “You can go to our website www.ciepuk.org.uk to confirm the courses we offer as well as call 08069030670, 07030808907 or visit Ciepuk Educators House (Head Office), 39A First Avenue, Gwarimpa, Abuja for more information,” he said. He noted that government ministry, parastatal and private organisation would receive an award letter for the 20 university scholarship slots to enable them compile the list of their nominees within the next seven days. He urged the various ministries and private organisations who do not receive their award letters within the next seven days not to hesitate to call or visit the CIEPUK headquarters for prompt response. NAN