Connect with us
Maduka University Advert

News

Hardship: Nigerian Govt releases N570bn Grant to States 

Published

on

Maduka University

The Federal Government has released N570bn to the 36 states to expand livelihood support to their citizens, President Bola Tinubu announced on Sunday.

He also revealed that Nigeria spends N2tn monthly to import Premium Motor Spirit, popularly called petrol, and Automotive Gas Oil, otherwise known as diesel.

Tinubu stated this during his nationwide broadcast to Nigerians, as he disclosed that N9.1tn was accumulated as total fiscal revenue to the Federal Government’s coffers during the first half of 2024, marking a significant increase from what was earned by the previous administration.

“Also, more than N570bn has been released to the 36 states to expand livelihood support to their citizens, while 600,000 nano-businesses have benefitted from our nano-grants. An additional 400,000 more nan0-businesses are expected to benefit,” the President stated.

Advertisement

He noted that despite Nigeria’s abundant oil and gas resources, his administration met a country that was dependent only on oil, neglecting its gas resources while subsidising the cost of fuel.

As a result, he said his administration invested in Compressed Natural Gas to change the narrative.

“Fellow Nigerians, we are a country blessed with both oil and gas resources, but we met a country that had been dependent solely on oil-based petrol, neglecting its gas resources to power the economy. We were also using our hard-earned foreign exchange to pay for and subsidise its use.

“To address this, we immediately launched our Compressed Natural Gas Initiative to power our transportation economy and bring costs down. This will save over N2tn a month, being used to import PMS and AGO and free up our resources for more investment in healthcare and education,” Tinubu stated.

He said his administration would distribute one million kits of extremely low or no cost to commercial vehicles that transport people and goods, and who currently consume 80 per cent of the imported petrol and diesel.

Advertisement

 “We have started the distribution of conversion kits and setting up of conversion centres across the country in conjunction with the private sector. We believe that this CNG initiative will reduce transportation costs by approximately 60 per cent and help to curb inflation,” Tinubu disclosed.

While licensed individuals have been importing diesel into Nigeria, the Nigerian National Petroleum Company Limited remains the sole importer of petrol into the country.

Despite being the largest oil producer in Africa, Nigeria depends on imported petroleum products due to low refining capacity.

Also during the broadcast on Sunday, Tinubu said his administration was ready to listen to and address the concerns of protesters involved in the nationwide protest that started on August 1, 2024.

On the revenue increase in the first half of the year, the President said it was due to efforts in blocking leakages, introducing automation, and mobilising funding creatively, all without placing an additional burden on the people.

Advertisement

 He said productivity in the non-oil sector is gradually increasing, reaching new levels and capitalising on the opportunities presented by the current economic environment.

He said, “In the past 14 months, our government has made significant strides in rebuilding the foundation of our economy to carry us into a future of plenty and abundance.

“On the fiscal side, aggregate government revenues have more than doubled, hitting over N9.1tn in the first half of 2024 compared to the first half of 2023 due to our efforts at blocking leakages, introducing automation and mobilising funding creatively without additional burden on the people.

“Productivity is gradually increasing in the non-oil sector, reaching new levels and taking advantage of the opportunities in the current economic ambience,” Tinubu said.

The President explained that there had been a reduction in Nigeria’s debt burden, with revenue on debt service declining from 97 per cent in 2023 to 68 per cent in 2024.

Advertisement

He said the country has cleared legitimate outstanding foreign exchange obligations of about $5bn “without any adverse impact on our programmes.”

According to the President, the debt reduction has provided the country with greater financial freedom, allowing for increased spending on essential social services such as education and healthcare.

He said this financial relief has also enabled state and local governments to receive the highest allocations from the Federation Account in the nation’s history.

“Coming from a place where our country spent 97 per cent of all our revenue on debt service; we have been able to reduce that to 68 per cent in the last 13 months.

“We have also cleared legitimate outstanding foreign exchange obligations of about $5bn without any adverse impact on our programmes. This has given us more financial freedom and the room to spend more money on you, our citizens, to fund essential social services like education and healthcare,” he stated.

Advertisement

PUNCH 

Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

SEDC to Launch 50,000-Hectare Agro-Mechanisation Project in Enugu to Tackle Unemployment, Insecurity

Published

on

Maduka University

The South-East Development Commission (SEDC) has concluded arrangement for the kick-off the zone-wide 50,000-hectare agro-mechanisation project in Enugu community meant to tackle insecurity, unemployment and food insecurity.

The SEDC zone-wide 50,000-hectare agro-mechanisation, which is meant to be established in each of the 15 senatorial zones of the five South-East states, would commence at a pilot scheme level on Sept. 22.

This is contained in a statement issued by the media aide to the Governor of Enugu State, Chief Uche Anichukwu, on Wednesday in Enugu.

The Managing Director of the Commission, Mr Mark Okoye, disclosed this during a community engagement at the pilot project site in Nomeh Unateze community in Nkanu East Local Government Area of Enugu State on Tuesday.

Okoye said the SEDC had, following its establishment in 2024, used the first year to do extensive studies and design a blueprint that cuts across different areas of the South-East economy.

He said the agro-mechanisation projects, remained a major part of the commission’s blueprint, explaining that it would address insecurity, unemployment, and food security.

According to him, so, what we are here for is one of our flagship initiatives, which is called the South-East Agro Mechanisation Programme or the South East Agro Development Programme.

Okoye said that the SEDC was committed to develop up to 50,000 hectares of land and that would be used for mechanised farming across the region.

“We are here for a pre-assessment, pre-flag-off visit to see the area, understand the level of work that needs to be done and ensure that contractors can start mobilising so that once we hit the site we start running.

“Because a big part of what we are looking at is how to address food insecurity and unemployment, ensuring that we are producing what we put on the table.

“We are starting with pilot programmes where we are taking 200 to 300 hectares of farmland across 15 senatorial zones and developing them to standard farms.

“Where you not only have cassava, maize, some of our staple crops, but also some cash crops. In some areas, there will be the centres for learning and centres for productivity,” he said.

Okoye said that Gov. Peter Mbah would flag off the project on Tuesday, adding the SEDC team came to assess the area, meet with the community and ensurr that all the plans are in place.

“And within the second we put this investment here, at least N4 billion or N5 billion of added investment will come in,” he said.

Okoye commended President Bola Tinubu for addressing the long yearning by the South-East for a commission to mobilise resources and coordinate development in the region.

He urged the people to reciprocate the numerous gestures by supporting the Tinubu to continue the development efforts post 2027.

He further revealed that the commission would soon roll ou an investment agency to help mobilise local and Diaspora investments for the region’s speedy development.

A community leader in the community, Chief Uche Anichukwu, described the agro-mechanisation project as one of the blessings of the APC, Tinubu and Mbah administrations to Enugu State in general and Nomeh Unateze in particularly.

Anichukwu, who is also media aide to the Governor of Enugu State, said that the Nenwe-Nomeh-Mburubu-Nara road, with a spur to Oduma, had created ready and multiple access to market for the proposed agricultural project.

Speaking, Chairman, Nomeh Unateze Town Union Caretaker Committee, Dr Chukwudi Anyianuka, and other community stakeholders, reiterated their support for the project.

They commended Tinubu and Mbah for siting the project in their community.

“We are very happy. We cannot wait to see it actualised and we promise that we are going to provide everything that is necessary to make sure that this is established.

“The Commission has taken a methodical approach to regional development.

“Rather than the pitfall of throwing money at development challenges, it undertook a study of the region and came up with a master plan, which includes this initiative, to reinvent the South-East,” Anyianuka added.

Also present at the interactive session were the members of the traditional council of Nomeh Unateze and community heads.

Continue Reading

News

Poor Lighting, Sanitation Frustrate Work At First Niger Bridge

Published

on

Maduka University

…As Onitsha South Mayor Empowers Workers

By Okey Maduforo, Awka

Maintenance and rehabilitation works at the recently closed First Niger Bridge are being hampered by poor lighting during night shifts and inadequate sanitary facilities at the site.

Recall that before the closure of the bridge, the Minister of Works, Engr. Dave Umahi, had disclosed that efforts would be made to carry out some of the rehabilitation works at night.

However, some of the workers at the site said poor lighting was affecting effective monitoring of activities on the bridge, while the poor sanitary condition of the area was also posing a threat to their health.

The workers made the complaints during a working visit to the bridge by the Mayor of Onitsha South Local Government Area, Chief Emeka Orji.

Orji, who was accompanied by the Secretary of the Local Government, Barr. Paul Onuachalla, and executives of the Fegge Community Landlords/Tenants Welfare Association, led by its Chairman, Chief Nnamdi Onugha, provided cooked meals and packs of bottled water to the personnel and workers at the site.

Speaking after the visit, Orji said the gesture was aimed at supporting the workers and showing solidarity with the Federal Government’s rehabilitation efforts on the bridge.

He said, “To support the workers and give them a sense of belonging, that is why we came to appreciate them. We will continue doing so from time to time as part of our Corporate Social Responsibility.”

The Mayor also disclosed that the council had provided facilities, including mobile toilets and water tanks, while arrangements were being made for water tankers to supply water to the tanks.

Orji further stressed the importance of the military presence in Onitsha South, noting that the personnel would contribute to security, rapid response and protection of the bridge, Onitsha South and parts of Ogbaru Local Government Area.

He added that the council would continue to strengthen its collaboration with security agencies to ensure maximum security across Onitsha South Local Government Area.

Earlier, after inspecting the environment with the Mayor, the Officer in Charge, who pleaded anonymity, identified poor lighting at the bridge at night as one of the major challenges confronting the personnel.

According to him, the situation makes it difficult to effectively monitor activities around the bridge, particularly during night shifts.

He also complained about the poor sanitary condition of the under-bridge environment where the personnel camp, saying they had to clean up the area themselves upon arrival.

The officer further appealed for improved accommodation and food support for the personnel.

He, however, commended the Mayor for the visit and assistance, saying the gesture made the workers feel appreciated.

“We feel loved and appreciated. We are happy seeing you around,” he said.

Continue Reading

News

Dangote Reveals He Bought First Private Jet at 22

Published

on

Maduka University

Africa’s richest industrialist, Aliko Dangote, has revealed that he bought his first private jet at the age of 22 and a half.
Dangote made the disclosure on Monday in Lagos during the formal launch of the Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals on the Nigerian Exchange.
Reflecting on his business journey, the billionaire said he had enjoyed travelling by private jet over the years but was now comfortable using commercial flights.
He also urged wealthy Nigerians to channel more of their resources into productive investments rather than luxury assets.
Dangote particularly appealed to affluent Nigerians who spend huge sums on private aircraft to consider investing such wealth in industries and businesses that could contribute to Nigeria’s economic growth.
“I try as much as I can to encourage people who are riding $900 million aircraft to please go and put that into production. We are not going to be a great nation without doing something productive,” he said.
He stressed that directing private wealth towards productive ventures would help strengthen the economy, create jobs and provide greater opportunities for national development.

Continue Reading

News

Niger Delta Chamber Breaks Silence on Alleged Summit Trademark Dispute

Published

on

Maduka University

The Niger Delta Chamber of Commerce, Industry, Trade, Mines and Agriculture (NDCCITMA) has rejected claims that it appropriated or “stole” the idea of Niger Delta Economic and Investment Summit from another organisation whose application was reportedly pending before the Federal Ministry of Trade.

NDCCITMA considers the allegation misleading and wishes to set the record straight.

The concept of Niger Delta Economic and Investment Summit is a broad and widely recognised platform used globally to bring together government, the private sector, investors, businesses, development partners and other stakeholders to deliberate on economic growth and development. The use of the term “Economic Summit” does not, in itself, establish exclusive ownership of the concept by any individual or organisation.

More importantly, the chronology of events does not support the allegation being made against NDCCITMA.

While the said application was reportedly still pending before the Ministry of Trade as at September 2025, NDCCITMA had already gone through the appropriate processes and received approval from the Ministry of Trade in August 2025.

NDCCITMA did not rely on, copy, or appropriate the pending application of any other party in arriving at its name or identity

It is also important to distinguish between a concept and legally protected intellectual property, such as a registered trademark, proprietary material or other enforceable intellectual property right.

NDCCITMA remains committed to conducting its activities in accordance with applicable laws and regulatory requirements.Most importantly, in Suit No: FHC/PHC/CS/57/2026 filed on same subject matter in Portharcourt by the petitioner, the learned Judge had restrained the plaintiff from further interfering with the Summit being planned by the NDCCITMA. NDCCITMA will continue respect the rule of law

We therefore urge the public, stakeholders, the media to disregard any narrative unless such claims are supported by verifiable facts and relevant legal documentation.

NDCCITMA firmly rejects the allegation and maintains that its activities and identity were developed and pursued independently and through the appropriate regulatory channels.

The organisation remains focused on its mandate of promoting commerce, industry, trade, agriculture, investment and sustainable economic development across the Niger Delta region.

Signed:
Management
Niger Delta Chamber of Commerce, Industry, Trade, Mines and Agriculture (NDCCITMA)

Continue Reading

News

Commissioner Dies Suddenly at Abuja Hospital

Published

on

Maduka University

The Cross River State Commissioner for Power and Renewable Energy, Prince Eka Williams Abang, has died at a hospital in Abuja.
Williams reportedly died suddenly on Saturday, September 12, 2026, while receiving medical treatment.
His death was announced on Sunday by his brother, Nkang William, who expressed shock over the sudden loss.
The deceased was described by family members and associates as a dedicated public servant whose death had left a significant void.
A former councillor representing Abo Ward in Boki Local Government Area, Pius Kejuo Osang, said he was still struggling to understand the development.

Late Abang

“I don’t understand, I was with him on Tuesday, I slept in his hotel,” Osang said.
Michael Gabriel Jr., Executive Media Assistant to Senator John Owan-Enoh, Minister of State for Industry, also described Williams as “a dedicated public servant and a good man.”
He said Ikom Local Government Area had lost a committed public servant, adding that Williams’ life of service, humility and impact would remain in the memories of those he touched.
The commissioner’s death has thrown Cross River’s political and public service circles into mourning, with condolences pouring in for his family, colleagues and associates.

Continue Reading
Advertisement

Trending