News
Oil.Theft: Reps Decry Dwindling Economy Warns MDA’s Against Wastage’s ….. Says Nigeria loses N1.29tr yearly
From Lateef Taiwo
The House of Representatives has decried dwindling state of Nigeria economy even as it also warned revenue generating agencies of government against Wastegies.
The Speaker, Hon. Tajudeen Abbas who disclosed this yesterday during the official Inaugurate of Special Committee on Oil Theft revealed further that Nigeria is currently losing revenues estimated at N1.29 trillion annually in addition to daily lost of 300,000 barrel of oil due to industrial-scale theft.
Hon Abbas stated that the Special Committee on Crude Oil Theft/Losses remain another commitment of the 10th House under his leadership to tackle the largest threats to Nigeria’s economy.
He however, blamed most oil loss activities on vandalism as well other criminal activities being perpetrated by unscrupulous elements in the country.
The speaker lamented against the oil theft menace adding that severe consequences of this illegal act includes revenue loss, environmental disaster, threats to regional peace and security, proliferation of arms, as well as poor investment climate.
He reminded the Committee and it’ members of their primary objective which is to determine the proximate as well as the remote causes of oil theft in Nigeria and recommend remedial measures to the House for appropriate action.
He informed that Nigeria as a country is currently facing significant financial challenges due to a combination of rising expenditures and falling revenues.
The lawmaker however, disclosed that the proposed revenue and expenditure for 2023 stand at N9.73 trillion and N20.51 trillion, respectively adding that a fiscal deficit of N10.78 trillion, which is about 4.78% of the GDP.
This deficit, according to the speaker is the largest in Nigeria’s history even as he noted that the budget is more than double the proposed revenue.
Consequently, the speaker said with the current reality, Nigeria has no choice than to go into borrowing to cover the gap.
He equally promised the readiness of the 10th House under him to significantly raise the targets for all government revenue-generating agencies in the country.
While expressing the hope that revenue agencies could generate much more than they are currently doing for the best interest of all citizenry and the country at large.
The lawmaker recalled that the parliament engagement with MDAs on the 2024-2026 MTEF, have made it clear that a lot more will be required from key government revenue-generating agencies next year.
He however, suggested that to achieve the expected results, the speaker urged government agencies to do their best in reducing Wastegies in order to improve efficiency, especially in collection.
“Revenue-generating agencies must ensure transparency in the management of generated revenues. Let me state clearly that the House will not tolerate low performance by agencies or failure to show evidence of required remittances to the Federation Account”.
He promised the House readiness to ensure close monitoring of agencies as well as carry out strict oversight of the activities of all revenue-generating agencies in the country to ensure compliance.
“we set up this Special Committee to underscore our unwavering commitment to protect the nation’s resources for the good of all our citizens and to punish the perpetrators of these dreadful crimes”.
The speaker equally used the opportunity to charge the committee to thoroughly investigate all dimensions of oil theft, focusing on the actions of all actors, including criminal gangs, militia groups, the local populace, company employees and security agencies.
To members of the special committee on Oil Theft, the speaker advised:’ approach your mandate with diligence, objectivity, a sense of urgency and patriotism”.
It was gathered that the findings and recommendations from committee will serve as a foundation for sustainable solutions rather than ad-hoc measures.
Members of the committee and critical stakeholders which includes: government agencies, industry players, security agencies, civil society organizations, and the general public were advised to extend their full support and operation in order to deliver on its mandate.
He expressed optimism that with synergy, good investigation by the committee, enhance revenue, investment and overall socio-economic progress is possible in Nigeria.
In his address, the Chairman of the special Committee, Hon Alhassan Ado Doguwa explained that Nigeria is not able to reap the needed democracy dividend because oil theft.
The lawmaker stated that the need to address oil theft in the country should not be emphasized reiterating his committee readiness to surmount all challenges in order to deliver on it mandates to Nigerians.
According to Hon Doguwa, the problems of vandals, criminals element perpetrating oil theft in the country shall be address headlong.
News
“Nigeria’s Biggest Ever Coalition, Civil Groups, Professionals, Labour, Artisans, Declare for Bola Tinubu”
In what is being described as an unprecedented political development ahead of the 2027 general elections, a broad-based national coalition cutting across civil society organisations, professional bodies, labour groups, artisan associations, and other grassroots networks has announced plans to formally endorse President Bola Ahmed Tinubu for a second term in office.
The coalition, spearheaded by the Coalition of Civil Society Organisations in Nigeria, COCSON, now extends far beyond the traditional civic space, bringing together over 1,500 groups from diverse sectors of the Nigerian society. Participants include human rights organisations, medical and legal professionals, trade and artisan unions, community-based organisations, and influential labour leaders, reflecting a wide national spread and multi-sectoral backing.
The historic convention is scheduled to hold on May 17, 2026, where leaders and representatives of the various groups are expected to converge in what organisers say will be the largest endorsement gathering in Nigeria’s history. The event will serve as the official platform for the coalition to collectively declare support for President Tinubu’s re-election bid.
In a major demonstration of grassroots mobilisation, the coalition also revealed plans to submit a compiled total of 20 million signatures of Nigerians who have endorsed the President’s candidacy. The signatures, gathered through extensive nationwide engagement, are being positioned as a clear indication of public support cutting across regions, professions, and social strata.
Organisers of the event stated that the decision to back President Tinubu is driven by what they described as tangible strides in economic reforms, governance, and national stability. They emphasised that the inclusion of non-traditional actors such as artisans, market groups, and labour unions underscores a broader national consensus that transcends the usual civil society framework.
Political analysts say the scale and diversity of this coalition mark a significant shift in Nigeria’s political landscape, where support structures are no longer confined to political parties and elite stakeholders but are increasingly driven by a fusion of grassroots and professional constituencies.
As momentum builds towards the May 17 convention, observers are keenly watching how this expansive alliance will shape political narratives and influence voter sentiment in the lead-up to the 2027 elections.
Further details on the convention and breakdown of participating groups are expected to be unveiled in the coming days.
In what is being described as an unprecedented political development ahead of the 2027 general elections, a broad-based national coalition cutting across civil society organisations, professional bodies, labour groups, artisan associations, and other grassroots networks has announced plans to formally endorse President Bola Ahmed Tinubu for a second term in office.
The coalition, spearheaded by the Coalition of Civil Society Organisations in Nigeria, COCSON, now extends far beyond the traditional civic space, bringing together over 1,500 groups from diverse sectors of the Nigerian society. Participants include human rights organisations, medical and legal professionals, trade and artisan unions, community-based organisations, and influential labour leaders, reflecting a wide national spread and multi-sectoral backing.
The historic convention is scheduled to hold on May 17, 2026, where leaders and representatives of the various groups are expected to converge in what organisers say will be the largest endorsement gathering in Nigeria’s history. The event will serve as the official platform for the coalition to collectively declare support for President Tinubu’s re-election bid.
In a major demonstration of grassroots mobilisation, the coalition also revealed plans to submit a compiled total of 20 million signatures of Nigerians who have endorsed the President’s candidacy. The signatures, gathered through extensive nationwide engagement, are being positioned as a clear indication of public support cutting across regions, professions, and social strata.
Organisers of the event stated that the decision to back President Tinubu is driven by what they described as tangible strides in economic reforms, governance, and national stability. They emphasised that the inclusion of non-traditional actors such as artisans, market groups, and labour unions underscores a broader national consensus that transcends the usual civil society framework.
Political analysts say the scale and diversity of this coalition mark a significant shift in Nigeria’s political landscape, where support structures are no longer confined to political parties and elite stakeholders but are increasingly driven by a fusion of grassroots and professional constituencies.
As momentum builds towards the May 17 convention, observers are keenly watching how this expansive alliance will shape political narratives and influence voter sentiment in the lead-up to the 2027 elections.
Further details on the convention and breakdown of participating groups are expected to be unveiled in the coming days.
News
How ISWAP killed Army Col. Six others in Borno.
☆☆☆As Troops Foil Series of Ambushes.
Troops of the Nigerian Army under operation Hadin Kai have foiled a series of ambush by suspected members of the Islamic State West Africa Province (I SWAP) terrorist along the Monguno in Borno state.
Islamic state of West Africa province (ISWAP) have attacked the Nigerian army from Monguno 242 Battion Barrack in Borno State on their way to reinforce the camp.
A serving Nigerian Army Colonel was reportedly killed in an ambush by insurgents in Monguno, Borno State, during a reinforcement mission
Source added said that colonel I.A. Muhammad was ambushed by ISWAP and killed along with four other soldiers.
Community confirmed that the troops who were on a fighting patrol as part of operation,came under fire from suspected terrorists
As of the time of felling this report, there has been no official statements from the Nigerian Army regarding the accident.
News
Dogara Felicitates Dangote at 69, Applauds His Enduring Impact on Africa
Hon. Yakubu Dogara, former Speaker of the House of Representatives and Chairman of the Credit Guarantee Company Limited (NCGC), has joined Nigerians and the global business community in celebrating Alhaji Aliko Dangote on his 69th birthday. In a detailed tribute, Dogara described Dangote as “a visionary whose life’s work has become a cornerstone of Africa’s economic transformation.”
Dogara emphasized that Dangote’s entrepreneurial journey is one of resilience and foresight. From humble beginnings, he built the Dangote Group into Africa’s largest conglomerate, with investments spanning cement, sugar, salt, fertilizers, and the landmark Dangote Refinery. These ventures, Dogara noted, have not only revolutionized industries but also created millions of jobs, strengthened Nigeria’s economy, and reduced dependence on imports. “Alhaji Dangote is not just an entrepreneur; he is a nation-builder whose vision has redefined what is possible for Nigeria and Africa,” Dogara said.
He pointed out that the Dangote Refinery, in particular, represents a turning point in Nigeria’s energy sector, offering the promise of self-sufficiency in petroleum products and positioning the country as a major player in global energy markets. “This singular achievement underscores his commitment to solving Africa’s most pressing challenges through bold and innovative solutions,” Dogara remarked.
Beyond his industrial empire, Dogara praised Dangote’s philanthropy through the Dangote Foundation, which has invested heavily in healthcare, education, and humanitarian relief. From building hospitals and funding scholarships to providing aid during crises, Dangote’s generosity has touched countless lives across the continent. “His philanthropy reflects a deep commitment to humanity. He has shown that true greatness lies not only in building industries but also in uplifting lives,” Dogara added.
Dogara also reflected on the inspirational power of Dangote’s story, stressing that his rise from modest beginnings to global prominence serves as a beacon of hope for young Africans. “His journey proves that with hard work, faith, and determination, Africans can build enterprises that rival the best in the world. He remains a shining example of African excellence,” he concluded.
As Dangote celebrates his 69th birthday, his legacy continues to resonate far beyond Nigeria’s borders. His life stands as a testament to the transformative power of vision, enterprise, and compassion—an enduring reminder that Africa’s future can be defined by innovation, resilience, and generosity
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