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Leaked document: Presidency fumes! *Denies N5.4trillion fuel subsidy  

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It is not true that the Federal Government might be spending a whopping N5.4trillion for payment of subsidy in the next six months, as it is still within the realm of projection, the Presidency, said on Thursday in a frontal pushback to the story, which broke on Wednesday.

The plan, reportedly being pushed by Wale Edun, Minister of Finance and Coordinating Minister of the Economy, to President Bola Tinubu, aimed at fast-tracking economic recovery, assist as many Nigerians as possible, and further mitigate the impact of the ongoing economic reforms of this administration, is to be implemented within one to six months to tackle inflation and further increase the purchasing power of the populace.

“Fuel subsidy: At current rates, expenditure on fuel subsidy is projected to reach N5.4 trillion by the end of 2024, This compares unfavourably with N3.6tn in 2023 and N2.0tn in 2022,” the report was quoted as saying, adding that amount represents an average of N450bn monthly subsidy bill, within the period.

But apparently, scandalised by the leaked report, Bayo Onanuga, presidential spokesman, dismissed the report, cautioning the mainstream media and social media platforms to desist from reporting fiscal policy documents that have not been ratified by the government, regretting that the documents titled: Inflation Reduction and Price Stability (Fiscal Policy Measure etc) Order 2024 was being shared as if it were an executive order signed by President Bola Ahmed Tinubu.

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“The other is a 65-page draft document with the title “Accelerated Stabilisation and Advancement Plan (ASAP), which contains suggestions on how to improve the Nigerian economy. President Tinubu received a copy of the draft on Tuesday. The public and the media should disregard the two documents and cease further discussions on them. None is an approved official document of the Federal Government of Nigeria.

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“It is important to understand that policymaking is an iterative process involving multiple drafts and discussions before any document is finalised. We assure the public that the official position on the documents will be made available after comprehensive reviews and approvals are completed. Emanating from the two documents have been reports second-guessing government’s policy on customs tariffs, fuel subsidy and other economic matters.

“The government wants to restate that its position on fuel subsidy has not changed from what President Bola Ahmed Tinubu declared on 29 May 2023. The fuel subsidy regime has ended. There is no N5.4 trillion being provisioned for it in 2024, as being widely speculated and discussed.”

He referred to further clarification made by the Minister, saying: “As previously stated by government officials, including myself, President Tinubu announced the end of the fuel subsidy program last year, and this policy remains firmly in place. The Federal Government is committed to mitigating the effects of this removal and easing the cost of living pressures on Nigerians.

“Our strategy focuses on addressing key factors such as food inflation, which is significantly impacted by transport costs. With the implementation of our CNG initiative, which aims to displace high PMS and AGO costs, we expect to further reduce these costs. Our commitment to ending unproductive subsidies is steadfast, as is our dedication to supporting our most vulnerable populations.”

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I’m ready to face the bullet – Utomi *Weak, horrible politicians, killing Nigeria

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I’m willing to go to the firing squad if it will stop the mess in Nigeria. I assure you, I’m willing to do that,” were the words with which Pat Utomi, Nigeria’s foremost political economist stretched the extent of his desire to help Nigeria recover itself from the current parlous situation it has found itself in recent years.

A guest of Politics Today, a current affairs programme on Channels Television, Utomi, told his host, on Wednesday that he was doing everything, including bringing together a coalition of Nigerians in the Diasporas to help in the task of redeeming the country today.

Arguing that Nigeria still had one of the highest human and natural resources in the world, he said Nigeria’s problem remained that of poor leadership, adding for instance that instead of harnessing potentials of the diversity of the country, those on the driving seat, were more interested in dividing the country.

Hear him: “We have converted what we have as our greatest strength into our weakness, which is our diversity. You take that diversity and look at our selling culture from different parts of Nigeria, what that means. Nigeria has a huge strength in its diversity, but weak, horrible politicians have chosen to exploit it in a manner where emotions have trumped reasons and the gap between we and them is widening everyday.

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“If you look at the American melting pot, why don’t they say, you’re a Korean, you’re a Vietnamese, you’re an Italian-American, you’re Irish-American? Because those who led America, its founding fathers, had such great vision, and wrote one of the greatest constitutions in human history and built institutions that allowed that melting pot culture to enable America become almost the greatest people on the planet. I think leadership can help to turn this around.

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Dwelling on how poor leadership had aided in stunting Nigeria’s development, Utomi, who claimed to have been integrated into national politics at the age of 27, because of how passionate and vocal he became over national issues even at that young age, blamed Nigerian youths for not expressing the same zeal in taking their country back.

Instead, he accused them of complicity, by becoming complacent while the older generation remained at the driving seat of national affairs and controlling their emotions at the same time, adding that the value system must change in which the future must matter to people than the immediate gains.

Hear him: “Ultimately, values shape human progress. When we have values and people of character and commitment to service are in positions of public authority, our country will turn around. We have the ingredients, the human capital that it takes to show the way.”

“The biggest challenge we have is that culture is in collapse in Nigeria, values shape human progress. How do we get a values revolution? Institutions are critical for human progress if we can commit to building stronger institutions that push back on people who do not do right and the rule of law is fully in place.

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“Look at our judiciary, it is a laughing stock – no country can make real progress without a judiciary that you can rely on. Look at our other institutions whether it is INEC or others, they are weak.

“How do we ensure that we have strong institutions and that we have values that really ensure that character matters and that people of character can show a light? We can do it, I am absolutely confident because I have seen it happen in human history.”

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Corruption cancer: How we recovered N13billion in September alone – ICPC

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“Over the past year, the ICPC has made significant progress in discharging its mandate; for example, we recovered over ₦13 billion in diverted public funds in September 2024 alone. This is just one of the many ways we have worked tirelessly to fulfil our mandate.”

These were the words with which Musa Aliyu, Chairman of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), summed up the immensity of the work the anti-graft agency has been doing in the country towards dealing with official graft in the Nigerian system.

Though he was not definite on those involved in the various scams from which the moneys were recovered from Aliyu, who made the disclosure during the launch of the commission’s 2024-2028 strategic action plan in Abuja on Wednesday, emphasised that the feat resulted from the relentlessness of the agency towards fulfilling its mandate.

It was also a day the ICPC boss disclosed the body’s new focus on digitalising its operations, which he said will position it as a leader in leveraging technology to combat corruption, adding: “We are also embarking on ICT reforms that will digitalise our operations and enable more efficient investigations, case management, and internal processes.

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“This transformation will position the Commission as a leader in leveraging technology to combat corruption, keeping us one step ahead of criminal activities in the digital age. The commission is developing a specialised curriculum aimed at enhancing the enforcement capacity of its personnel.

“This initiative equips our officers with the skills and expertise needed to address the complexities of corruption cases with the highest standards of professionalism and efficiency.

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“Additionally, we are decentralising the anti-corruption effort by empowering state governments through the mobilisation of State Attorneys General. This approach ensures that state governments are equipped with the tools, knowledge, and resources necessary to effectively combat corruption at the local level.

“Because we believe prevention is better than cure, we have intensified efforts to identify institutional and administrative vulnerabilities through System Studies and Corruption Risk Assessments. We have also continued to engage with the Anti-Corruption and Transparency Units (ACTUs) in Ministries, Departments, and Agencies (MDAs), reinforcing our grassroots monitoring mechanisms.”

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TRAGEDY: Another man takes his life over hardship in Nigeria *Police dig in

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Operatives of the Ogun State Police Command are combing around to ascertain whether Abayomi Oshoke, a 45-year-old, a resident of Mango Oke-Ata, actually took his own life because he could no longer continue with the present hardship in Nigeria or there are other factors to it.

This was after confirming the incident, which reportedly took place around 6:00am on September in the suburb of Abeokuta, the state capital, through Omolola Odutola, the command’s spokesman, on Tuesday.

Odutola, who confirmed that the deceased consumed an insecticide to end it all due to the hardship he was allegedly facing, explained that his sister, identified as Funmilayo, reported the incident to the Lafenwa Police Division after discovering her brother’s lifeless body in his room, with a bottle of insecticide found beside him.

She said: “A friend of the deceased visited his home and asked to see him. Upon entering the room, he discovered the victim’s body on the floor and raised the alarm after finding that the victim had ingested a mixture of insecticide and herbal concoction.

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“He left a note written in Yoruba language, explaining the reasons behind his decision. In the note, he expressed frustration with his life and stated that he felt he had no choice but to end it. A discreet investigation is currently underway.”

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