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MTEF: FG proposes 2.3m bpd oil production at $60pb oil benchmark

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MTEF: FG proposes 2.3m bpd oil production at $60pb oil benchmark

The Federal Government says its key assumptions and micro-framework of the 2019 budget will be based on a projection of 2.3mbpd oil production, oil price benchmark of 60 dollars per barrel.

It also indicated exchange rate of N305 to a dollar, 9.98 inflation rate, 119,28 trillion nominal consumption, 139.65 trillion nominal GDP and 3.01 per cent GDP growth rate.

These were disclosed in Abuja on Tuesday during a public hearing on the Medium Term Expenditure Framework (MTEF) held by the House of Representative Joint Committee on Finance, Appropriation, Aids, Loans and Debt Management headed by Rep. .Babangida Ibrahim.

The Director-General, Budget Office of the Federation, Mr Ben Akabueze, said the Economic Recovery Growth Plan (ERGP) projection for oil production was put at 2.4mbpd, oil price benchmark of 60 dollars per barrel.

He added that exchange rate of N305 was to a dollar, 13.39 inflation rate, 106, 03 trillion nominal consumption, 126, 36 trillion nominal GDP and 4.5 per cent GDP growth rate.

Akubueze said the second quarter of 2017, Nigeria was expected to continue to experience growth from 0.8 per cent in 2017 to 2.1 per cent in 2018 and 3.01 per cent in 2019.

In his summary of the 2018 performance, Akabueze said: “As at the end of 2018, federal government aggregate revenue was N3.96 trillion, which is 55 per cent of the budget and which is higher than the 2017 revenue.”

The breakdown, according to him, was oil revenue (N2.32 trillion – 77 per cent of budget and 64 per cent higher than 2017); Company Income Tax (CIT) of N637, 25 billion (80 per cent of budget and 1.7 per cent higher than 2017) and Customs Collection of N303, 91billion (94 per cent of budget and 16 per cent higher than 2017.

According to him, notwithstanding the softening in the international oil prices in late 2018, the considered opinion view of most reputable oil industry analysts was that the downward trend was not necessarily reflective of the outlook for 2019.

“Currently, the average Brent oil price projection for 2019 by 32 different institutions with relevant expertise is still about 69/b dollars.”

He assured Nigerians that the government would sustain its fiscal strategy of directing resources to most productive and growth-enhancing sectors while efforts will be intensified to increase revenue.

He added that the government will equally leverage private capital to supplement capital allocation from the budget.

“We will closely monitor the situation and will respond to any sustained changes in the international oil price outlook for 2019.

“Mr President has directed the Nigerian National Petroleum Corporation (NNPC) to take all possible measures to achieve the targeted oil production of 2.3 million barrels per day.

“The budget proposal seeks to continue the reflationary and consolidation policies of the 2017 and 2018 budgets respectively, which helped put the economy back on the path of growth.”

The Executive Chairman, Federal Inland Revenue Service (FIRS), Mr Babatunde Fowler, also spoke on the projected tax revenue for the period and the baseline assumptions.

He said the tax office was optimistic of performing better than 2018.

“For the year 2018, the federal government gave the FIRS a collection target of N6,747 trillion.

“Analysis of actual collection figures for the year ended December 2018 shows that we collected a total of N5. 320 trillion, which represents 78.86 per cent of the target.

“The FIRS 2019 – 2021 revenue framework is based on the 2019 – 2021 Medium Term Expenditure (MTEF) and Fiscal Strategy Paper (FSP).

“While the collection figure for 2018 were significantly higher than ever before, the FIRS is not resting on it oars and is continuing with the implementation of various measures to ensure that tax revenue collection significantly improves further in 2019.”

Some of such measures,according to him, are through Strategic Revenue Growth Initiative (SRGI), tax audit, use of technology (such as VAT Auto Collect, State Offices of Accountant-General Platform), integration with GIFMIS for federal MDAs.

Others, he said, are eService and Mobile Payment Options, sustained enforcement activities, voluntary assets and Income Declaration Scheme and amendment of tax laws to improve collection.

The Minister of Finance, Mrs Zainab Ahmed, also assured that the federal government had evolved a new revenue strategic growth agenda developed by her ministry to ensure a sustainable revenue flow system.

“We have identified new revenue streams and we’re working to tap into them.

“Especially the identification of new taxes for which we are working with the FIRS to bring that to fruition, of course with amendment to relevant tax laws.

“We are working now to implement the TSA to cover foreign accounts operated by government agencies in order to broaden the net and minimise leakages.”

Also, the Accountant-General of the Federation, Mr Ahmed Idris, noted that June 30, 2019 date has been set for the closure of 2019 budget.

Idris also stated that Nigeria will not renege on its obligations to foreign and local creditors.

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Zamfara Group Plans to Sue Matawalle over Certificate Controversy

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A fresh political storm is brewing in Zamfara State as a group known as the Zamfara State Concerned Citizens has announced plans to institute legal proceedings against former Governor of Zamfara State and current Minister of State for Defence, Bello Mohammed Matawalle, over allegations concerning his educational qualifications.

The group, led by Barrister Musa Abdullahi, alleged that Matawalle relied on a certificate obtained from the Vocational Training Centre, Bunza, to secure election into public office and later appointment as a minister, despite what it described as questions surrounding the qualification’s compliance with constitutional requirements.

In a media statement signed on its behalf, Barrister Abdullahi said the group had concluded consultations and was preparing legal action aimed at testing the validity of the credentials before a court of competent jurisdiction.

According to him, public offices are positions of trust that demand honesty, transparency and strict compliance with the law.

The group argued that the use of forged or invalid educational credentials to secure public office, if established by a court, amounts to a grave violation of public trust and undermines the integrity of democratic institutions.

Barrister Abdu maintained that Nigerian laws criminalize forgery, certificate falsification and false declaration, stressing that any public official found guilty of such offences should face appropriate legal consequences.

“We believe that no individual should be allowed to benefit from public office through misrepresentation. The law must apply equally to everyone, irrespective of status or position,” he said.

The group further argued that where a public office holder is found to have obtained office through false credentials, such a person may face disqualification, removal from office and prosecution in accordance with applicable laws.

It also contended that salaries, allowances, benefits and privileges allegedly obtained through such misrepresentation should be recovered by the appropriate authorities.

In a strongly worded statement, the Zamfara State Concerned Citizens said public officials must be held to the highest ethical standards, warning that failure to address allegations of credential fraud could send the wrong signal to young Nigerians and weaken public confidence in governance.

The group also criticized Matawalle’s public interventions on security matters, accusing him of making statements capable of generating unnecessary controversy at a time citizens expect reassurance and constructive engagement from leaders.

According to Barrister Abdu, the planned court action is not only about one individual but about protecting the sanctity of public office and ensuring that honesty remains a fundamental requirement for leadership.

He said the legal challenge would also serve as a deterrent to anyone who might contemplate using false information or questionable credentials to gain access to public office.

The Zamfara State Concerned Citizens insisted that accountability, transparency and respect for the rule of law remain essential pillars of democracy and vowed to pursue the matter through all lawful channels.

As of the time of filing this report, Matawalle had not publicly responded to the latest allegations.

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2027: ALGON Backs Kwara Speaker’s Guber Bid, Reaffirms AbdulRazaq’s Leadership

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Stephen Olufemi Oni, Ilorin

The Association of Local Governments of Nigeria (ALGON), Kwara State Chapter, has reiterated that the All Progressives Congress (APC) in the state remains united, peaceful, and firmly aligned with the leadership of Governor AbdulRahman AbdulRazaq.

ALGON made the clarification following reactions to a recent press conference by some individuals, stressing that the views expressed did not represent the position of the 16 local government areas in the state.

A statement by the spokesman of the State ALGON, Hadji Abdulrasheed Femi Yusuf, said: “The individuals who spoke at the press conference did so in their personal capacity and did not represent any local government council or its leadership in Kwara State.

“The gathering in question was not in consultation with the recognised elders’ caucuses across the 16 local government areas, and as such does not reflect any formal or collective decision of party structures.”

ALGON has, therefore, restated that the APC primary election held on Friday, 22nd May 2026 was duly conducted in line with party guidelines, with members freely participating in the process, adding that the exercise produced Rt. Hon. Salihu Yakubu Danladi, Speaker of the Kwara State House of Assembly, as the duly emerged candidate, and the association urged all stakeholders to respect the outcome.

The association maintained that there is no crisis within the Kwara APC, adding that the party remains stable, focused, and committed to the continued development agenda of the AbdulRazaq-led administration.

It further noted that APC remains a united family where internal democracy produces both winners and those who may not emerge successful, stressing that all members are ultimately working towards a common goal of party success and good governance in Kwara State.

According to ALGON, the APC in Kwara State has continued to grow stronger under Governor AbdulRahman AbdulRazaq’s leadership, due to the discipline, loyalty, and commitment of party members to collective interest over personal ambitions.

The association therefore urged party faithful and members of the public to disregard narratives capable of causing division, and instead focus on strengthening unity and consolidating the developmental achievements already recorded across the state.

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Court Convicts Female Arms Courier to Death in Katsina.

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A Federal High Court in Katsina State has sentenced a female arms courier to death by hanging after the Department of State Services (DSS) successfully prosecuted her for conspiracy to commit, aid and abet terrorism, the second death sentence secured by the DSS in the month of June.

The convict, Hauwa’u Mukhtar, was arrested by the DSS on September 16, 2023, at Jibia Motor Park, Katsina State, while attempting to transport 438 rounds of 7.62mm ammunition to one Ado, a notorious bandit kingpin operating in Dunburum Forest, Zamfara State.

On 3rd June, a Federal High Court in Abuja sentenced four men arrested by the DSS to death by hanging for their roles in the June 5, 2022, terror attack on St. Francis Catholic Church in Owo, Ondo State, which claimed over 40 lives.

Security sources revealed that, in Katsina, the DSS filed a two-count charge against Hauwa’u Mukhtar
before High Court No. 3, Katsina, presided over by Justice A. B. Bawale.

After evaluating the totality of evidence, witness testimonies, tendered exhibits, and final addresses of both prosecution and defence counsel, the court held that the prosecution proved its case beyond reasonable doubt, finding Mukhtar guilty on both counts.

The judge subsequently sentenced the convict to death by hanging in accordance with the provisions of the Penal Code Law of Katsina State, 2021.

“The successful prosecution is a significant milestone for the DSS, demonstrating its capacity to not only intercept criminal actors but to follow through with decisive legal action that results in landmark convictions.’, stated the source.

It could be recalled that, about a month ago, a Federal High Court in Abuja convicted and sentenced one Halima Haliru Umar to 20 years imprisonment for unlawful possession of 302 rounds of AK-47 live ammunition and attempting to provide support for acts of terrorism marking the second conviction of a female arms courier secured by the DSS this year.

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