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FG may spend N3.27tn on palliatives, loans

Published

3 years ago

October 16, 2023

The total spending by the Federal Government on palliatives and loans to cushion the effect of the fuel subsidy removal may hit N3.27tn.

The palliatives and loans were meant to cushion the effects of economic hardships on Nigerians and businesses following the removal of fuel subsidies and skyrocketing consumer prices due to high inflation.

These palliatives included N100bn to acquire 3,000 units of 20-seater CNG-fuelled buses, N200bn to boost agriculture production, N75bn for manufacturers, N125bn for micro, small and medium-sized enterprises and the informal sector, N185bn as palliatives for states, N1tn on student loans and other programmes.

Others included N315bn to pay federal workers’ N35,000 allowance for six months, N1.13tn to 15 million households at N25,000 per month for three months from October to December 2023, N70bn earmarked as palliative measures for lawmakers, and N75bn loan facility to 1.5m market women.

President Bola Tinubu’s announcement that “subsidy is gone” on May 29, 2023, shook the economy as the price of fuel had more than doubled since then. This led to a surge in the price of commodities and a spike in inflation.

Following this removal, the World Bank announced that 7.1 million Nigerians were at risk of poverty if the Federal Government failed to compensate or provide palliatives for them.

This would have increased the number of poor Nigerians to 100.9 million, according to the bank. The bank said, “In the immediate term, the removal of the petrol subsidy has caused an increase in prices, adversely affecting poor and economically insecure Nigerian households. Petrol prices appear to have almost tripled following the subsidy removal.

“The poor and economically insecure households, who directly purchase and use petrol as well as those that indirectly consume petrol, are adversely affected by the price increase. Among the poor and economically insecure, 38 per cent own a motorcycle and 23 per cent own a generator that depends on petrol. Many more use petrol-dependent transportation.

“The poor and economically insecure households will face an equivalent income loss of N5,700 per month, and without compensation, an additional 7.1 million people will be pushed into poverty.”

Responding to this, the Federal Government began to announce support through loans and palliatives to Nigerians. In a national broadcast on July 31, the president announced the first sets of palliatives.

He revealed a N500bn palliative plan that included N100bn to acquire 3,000 units of 20-seater CNG-fuelled buses, N200bn to boost agriculture production, N75bn for manufacturers, and N125bn for micro, small and medium-sized enterprises, and the informal sector.

This move, he said, would tone down the agony of Nigerians from the pains of fuel subsidy removal. Commenting on the agricultural scheme, the President said, “Our plan to support cultivation of 500,000 hectares of farmland and all-year-round farming practice remains on course.

“To be specific, N200bn out of the N500bn approved by the National Assembly will be disbursed as follows: Our administration will invest N50bn each to cultivate 150,000 hectares of rice and maize. N50bn each will also be earmarked to cultivate 100,000 hectares of wheat and cassava.”

To cushion the effect of subsidy on states, the Federal Government announced N5bn as palliative measures for each state of the federation and 180 trucks of rice.

According to the Borno State Governor, Babagana Zulum, the N5bn would enable the state governments to procure 100,000 bags of rice, 40,000 bags of maize, and fertilisers to cushion the food shortage in the country.

He noted that 52 per cent of the money would be in the form of grants, while the remaining 48 per cent would be paid back by the states on an instalment basis within 20 months to the Central Bank of Nigeria.

Announcing the other palliatives, Tinubu stated that N75bn (to be disbursed between July 2023 and March 2024) will be given to 75 manufacturing enterprises as N1bn credit at nine per cent per annum. N125bn was earmarked for micro, small and medium-sized enterprises and the informal sector.

Out of the sum, the government would spend N50bn on conditional grants to one million nano businesses. Highlighting how the government intended to spend N1tn on student loans and other programmes, the President said, “In a little over two months, we have saved over a trillion naira that would have been squandered on the unproductive fuel subsidy which only benefitted smugglers and fraudsters.

“That money will now be used more directly and beneficially for you and your families.

“For example, we shall fulfil our promise to make education more affordable to all and provide loans to higher education students who may need them. No Nigerian student will have to abandon his or her education because of lack of money.”

After numerous strike threats by organised labour, the Federal Government eventually agreed to spend N315bn to pay federal workers and N35,000 allowance, increasing its palliatives bill.

A statement by the Minister of Information and National Orientation, Mohammed Idris, said, “The Federal Government has announced N35,000 only as a provisional wage award for all treasury-paid Federal Government workers for six months following further consultation with President Bola Tinubu.”

Recently, the Director-General of the Budget Office of the Federation, Ben Akabueze, revealed that the Federal Government’s personnel cost was over N5tn, with 1.5 million workers on its payroll. This implied that the government’s N35,000 commitment to workers would cost N315bn for the six months.

According to the agreement between organised labour and the government, the wage award would last until a new national minimum wage was announced. The agreement read in part, “The Federal Government grants a wage award of N35,000 only to all Federal Government workers beginning from September pending when a new national minimum wage is expected to have been signed into law.”

While announcing the N35,000 allowance, the Federal Government also revealed that it would commence the payment of N75,000 to 15 million households at N25,000 per month for three months from October to December 2023 (totalling N1.13tn for the period).

Recently, the Senate approved Tinubu’s request to borrow a $800m loan from the World Bank. According to him, the $800m loan would be used to cater to the welfare of the vulnerable and poor households in the country under the National Safety Net Programme.

In an earlier announcement, the Presidency announced a plan to transfer N8,000 monthly to the bank accounts of 12 million poor and low-income households for six months. This plan was met with criticism and Tinubu announced a review of the plan.

Other palliative measures included a controversial N70bn earmarked to lawmakers to support “the working conditions of National Assembly members.”

This has since been met with criticism by a Senior Advocate of Nigeria, Femi Falana, who said, “Out of sheer insensitivity coupled with impunity, the members of the National Assembly, regardless of political affiliation, conspired to breach the relevant provisions of the Constitution of the Federal Republic of Nigeria, 1999 by padding the Supplementary Appropriation Bill, 2023 to provide the so-called palliative of N70bn for 306 newly-elected members.”

The Federal Government also recently announced extending the N75bn loan facility to 1.5 million market women. According to the Minister of Humanitarian Affairs and Poverty Alleviation, Dr Betta Edu, the Federal Government would advance a non-interest loan of N50,000 each to 1.5 million market women under the Government Enterprise and Empowerment Programme to improve their capital and expand their businesses.

She stated that the N75bn market women fund, Iyaloja Fund, would be launched by October 17. This brings the total palliative and loan pledge by the Federal Government to N3.27tn.

As of the end of June, oil marketers disclosed that the Federal Government had saved about N400bn following the subsidy removal on Premium Motor Spirit. In his July speech, Tinubu stated that the country had saved N1tn in the two months since the removal of the petrol subsidy.

However, oil marketers say the Federal Government might spend about N1.68tn as a subsidy on petrol from September to December this year following a price non-adjustment of the product since August.

According to the PMS dealers, the pump price of petrol should be between N890 to N900/litre based on the fall of the naira against the United States dollar and the surge in the price of crude in the international market.

According to the Manufacturers Association of Nigeria and the Lagos Chamber of Commerce and Industry, more was needed to be done by the Federal Government to cushion the impact of the removal of fuel subsidies.

While applauding the government for its interventions, MAN said, “Additionally, we expect that other attendant challenges, including calculating the import duty for production inputs at the floated rate and the continued denomination of the gas price in dollars, should be discontinued.”

It stated that this would bring down rising costs of production and ameliorate the lacklustre performance of the manufacturing sector.

News

Court Orders DSS Probe as Prosecutors Link VeryDarkMan to Alleged Leak of Coup Trial Evidence

Published

9 hours ago

June 24, 2026

Everydaynewsngr

The trial of six men accused of plotting to overthrow the administration of President Bola Tinubu took a dramatic turn on Tuesday after the Federal High Court in Abuja ordered the Department of State Services (DSS) to investigate the alleged leakage of sensitive court evidence to social media.

During proceedings, prosecuting counsel, Rotimi Oyedepo (SAN), informed the court that video recordings already tendered as evidence had surfaced online. He alleged that the materials were published by social media activist Martins Vincent Otse, popularly known as VeryDarkMan, and noted that the activist was present in court during the hearing.

Oyedepo urged the court to investigate how the videos were obtained and made public.

In response, Justice Joyce Abdulmalik directed the DSS to immediately probe the alleged leak. The judge ordered security operatives to determine whether any protected court materials were released in breach of existing witness-protection orders and to identify those responsible.

Justice Abdulmalik ruled that the investigation should proceed alongside the ongoing criminal trial, stressing that neither the defendants nor their legal representatives had admitted involvement in the alleged publication.

Counsel to the six defendants denied any connection to the leaked materials. Some members of the defence team argued that the prosecution should file a formal application supported by an affidavit if it wished to pursue the matter before the court.

The hearing also featured testimony from the prosecution’s fourth witness, identified only as “DDD,” who maintained that the defendants voluntarily made their statements and were neither tortured nor coerced during interrogation.

The witness dismissed claims that the accused were chained while giving statements, stating that they walked into the interview room unassisted. He further told the court that none of the defendants requested the presence of lawyers, family members, Legal Aid Council officials, or a Justice of the Peace before making their statements.

Following the testimony, the prosecution closed its case in the trial-within-trial after calling four witnesses.

The court adjourned proceedings to June 25 and June 30 for the first three defendants to open their defence, while the remaining defendants are scheduled to present theirs on July 1 and July 2.

Justice Abdulmalik also fixed July 20 for a ruling on the defendants’ bail applications.

The six men remain on trial over allegations of participating in a plot to topple the Tinubu administration—claims they have denied and which the court has yet to determine.

News

Good Governance: Nwoye Harps on Prudent Management of Public Funds, Engagement of Competent Hands

Published

10 hours ago

June 24, 2026

Everydaynewsngr

A Senior Lecturer at the Institute of Peace, Conflict and Development Studies (IPCDS), Enugu State University of Science and Technology (ESUT), Dr. Ben Nwoye, has emphasized the need for managers of public institutions, especially government-owned establishments, to prioritize prudent management of resources and the engagement of competent personnel.

Nwoye also stressed that placing qualified and capable individuals in positions of responsibility remains one of the surest ways to achieve good governance and sustainable development in any society.

The former Chairman of the All Progressives Congress (APC) in Enugu State and current Deputy National Chairman (South) of the party made the remarks on Monday during a good governance facility tour to the remodeled Government Technical College (GTC), Enugu, alongside PhD students of IPCDS.

He commended Enugu State Governor, Dr. Peter Mbah, for the transformation of GTC Enugu under the leadership of Dr. Amaka Ngene, Chairman of the Science, Technical and Vocational Schools Management Board (STVSMB), noting that the institution has been transformed from a dilapidated facility into a modern learning centre.

According to Nwoye, the visit was aimed at assessing the progress made since a similar tour of the school in 2025.

He described education as the bedrock of national development and stressed the need for governments to continue investing heavily in the sector.

“The massive transformation that has taken place at GTC Enugu would not have been possible without prudent management of resources and the appointment of capable leadership,” he said.

“When we first visited, what we saw were merely buildings and classrooms without teachers or students. We were also shown videos and photographs depicting the terrible state of the institution before the intervention of the Enugu State Government.

“Today, barely a year later, we have returned to see whether the state-of-the-art facilities have become functional, and we are impressed by what we have seen. There are teachers, students, and fully operational departments.

“This success is largely due to the quality of leadership driving the school board. The desired transformation has truly taken place, and this goes beyond politics. It is about commitment, competence, and prudent management of public funds.”

Nwoye noted that the beneficiaries of the reforms are young people whose lives are being positively impacted through quality education and vocational training.

“We must commend Governor Peter Mbah for providing the enabling environment and resources needed to achieve this. More importantly, we must acknowledge the efforts of the Board Chairman, Dr. Amaka Ngene, who has driven the entire process.”

He added that practical examples such as GTC Enugu provide valuable learning opportunities for students studying governance and leadership.

“The challenge in our country is not the absence of laws but our failure to implement them. Previous boards allowed this institution to remain in a deplorable condition. What we are seeing today demonstrates what is possible when competent individuals are entrusted with leadership responsibilities.”

Nwoye expressed satisfaction with the outcome of the tour, stating that his students were impressed by the level of transformation witnessed across the institution.

“It is gratifying because when we teach governance principles in the classroom, we can now point to practical examples where those principles are being applied successfully. Sustainable development can only be achieved when education is treated as a priority,” he said.

Speaking during the tour, Dr. Ngene attributed the board’s achievements to a fortified database system, zero tolerance for corruption, truancy, and absenteeism, as well as a commitment to accountability and efficiency.

She also praised Governor Mbah for his commitment to education, describing the ongoing reforms as an education revolution in Enugu State.

According to her, the state’s investment in education has surpassed the UNESCO recommendation of 15 to 20 per cent budgetary allocation to the sector.

“Over the last three years, Enugu State has consistently allocated an average of 23 per cent of its budget to education, reflecting the governor’s commitment to human capital development,” she disclosed.

During the facility tour, the visiting students inspected several functional departments, including the automobile repair workshop, welding and fabrication unit, computer laboratory, garment-making section, and hospitality and catering department.

The facilities provide practical vocational training for senior students, equipping them with employable skills and entrepreneurial opportunities for the future.

Dr. Ngene maintained that Governor Mbah’s administration has demonstrated the impact of good governance through strategic investments in education and human capital development, adding that the results are already evident across the state.

News

Post-Election Cleanup: Enugu Cracks Down on Unauthorized Outdoor Advertising

Published

1 day ago

June 23, 2026

Everydaynewsngr

With the successful conclusion of the Enugu North Senatorial District by-election, the Enugu State Structures for Signage and Advertisement Agency (ENSSAA) has announced plans to commence a statewide enforcement exercise against unauthorized outdoor advertisements across the state.

The Agency said the operation would target illegally displayed posters, billboards, political campaign materials, banners, and other outdoor advertisements erected without the approval and requisite permits of ENSSAA.

In a statement issued on Monday by the General Manager of the Agency, Mr. Francis Aninwike, ENSSAA said the enforcement exercise would be carried out across Enugu metropolis and all the local government areas of the state in accordance with the provisions of the ENSSAA Law 2016, which regulates outdoor advertising and signage in Enugu State.

Aninwike explained that the Agency deliberately suspended the enforcement exercise in recent weeks to allow the Enugu North Senatorial District by-election to be concluded and to avoid giving political coloration to what is essentially a long-overdue regulatory exercise aimed at restoring order, sanity, and environmental aesthetics within the state’s outdoor advertising space.

He stressed that no individual, political party, candidate, organization, or business is permitted to erect, display, or paste advertisements, including political campaign materials, without first obtaining the approval of the Agency.

According to him, political parties, candidates, and other stakeholders are advised to immediately regularize their advertisements and obtain the necessary permits before displaying campaign materials or other outdoor advertisements in any part of the state.

The General Manager noted that the proliferation of unauthorized advertisements constitutes a violation of the law, contributes to visual pollution, defaces public infrastructure, and undermines the beauty of the environment.

He emphasized that the enforcement exercise is neither targeted at any individual nor directed against any political group.

“This enforcement exercise is not targeted at any individual or political group. It is a routine regulatory action aimed at ensuring compliance with the law and maintaining a clean, orderly, and aesthetically pleasing environment across the state,” Aninwike stated.

To ensure a smooth and peaceful operation, ENSSAA said it has secured armed police escorts for its enforcement teams. The exercise will be conducted daily between 8:00 a.m. and 6:00 p.m.

The Agency urged members of the public to comply with extant regulations and refrain from obstructing officials carrying out their lawful duties.

Aninwike reiterated ENSSAA’s commitment to sanitizing the outdoor advertising sector, enforcing compliance with relevant laws, and ensuring that outdoor advertisements across Enugu State conform to approved standards.

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US opens applications to support Nigerians seeking admission abroad

Published

2 days ago

June 22, 2026

Everydaynewsngr

The United States Mission in Nigeria has opened applications for the 2026 cohort of the EducationUSA Nigeria Opportunity Fund Programme, inviting qualified Nigerian students seeking higher education opportunities in the US to apply.

The application is open from June 15 and will close on June 30, 2026, according to a notice published by the U.S. Embassy and Consulate in Nigeria.

The programme, coordinated by the Public Diplomacy Section of the U.S. Mission through EducationUSA Nigeria, is designed to assist academically outstanding Nigerian students with leadership potential in pursuing higher education in the United States.

According to the mission, the initiative supports access to U.S. higher education while advancing “American leadership, commercial diplomacy, and the shared economic interests of the United States and Nigeria.”

It added that the 2026 cohort aligns with the Freedom 250 celebration, marking 250 years of American leadership, innovation and democratic values.

The statement read, “Freedom250 marks 250 years of American leadership, innovation, and democratic values, and the OFP 2026 cohort will advance these priorities by preparing globally competitive talents aligned with U.S. economic and strategic interests.”

The mission said the programme also reinforces U.S. priorities on “secure, lawful, and well-managed student participation” in American higher education institutions.

It stated, “The program reinforces U.S. priorities on secure, lawful, and well-managed student participation of U.S. higher education systems, ensuring participants understand and uphold the proper use of student visas and full compliance with U.S. immigration regulations.”

Priority consideration, according to the statement, will be given to high-performing students pursuing fields that align with U.S. strategic interests.

It noted, “Priority consideration will be given to the highest-performing students whose academic profiles and career trajectories align with U.S. strategic interests in STEM, AI, and critical emerging technologies.”

The Opportunity Fund Programme provides financial support for essential upfront application costs, including standardised testing fees, application fees and other related expenses.

To qualify, applicants must demonstrate academic excellence, leadership potential, a clear intention to pursue post-secondary education in the United States, notable achievements, research capability, and a commitment to visa compliance and responsible participation in U.S. exchange programmes.

The statement further stressed that participants would be expected to maintain high ethical standards throughout the programme.

It said, “Participants are expected to uphold the highest standards of integrity, compliance, and accountability, including adherence to all U.S. visa regulations.

Applicants are required to submit a completed application form, academic records, a personal statement, evidence of achievements, leadership and research capability, as well as other supporting documents before the June 30 deadline.

Apply here: EducationUSA Nigeria Opportunity Fund Program (OFP) 2026 – U.S. Embassy and Consulate in Nigeria