FocalPoint Reports

Reps to probe public loans borrowing since 1999 The House of Representatives has resolved to carry out  comprehensive audit and oversight of all loans obtained by the Federal and State Governments since 1999 to ascertain the impact of such burden on Nigerians This resolution followed a motion on notice sponsored by Lanre Okunola (APC, Lagos) on the need to ensure proper public debt oversight on the Federal and State government loans and the proper utilisation of all borrowed funds.  Okunola said data of Nigeria’s public debt profile including external and domestic debt recently released by the Debt Management Office indicate that as of March 31, 2024, showed that public debt in the country has grown significantly over the years at N121.67 trillion ($91.46 billion) with loans sourced from domestic and international lenders by the Federal and State Governments to fund various projects and budget deficits. He said the same report indicated that Nigeria’s debt rose by N2...

Reps ask FG to allow local refiners in petroleum production By Potoki ThankGod, Abuja The House of Representatives on Thursday called on the Federal Government to develop a blueprint to allow indigenous refiners in the nation’s petroleum production value chain. The resolution followed the adoption of a motion on the “Need to reform and regulate Nigerian petroleum production activities to integrate artisanal refiners in the production value chain, moved by the House Deputy Minority Whip, Mr George Ozodinobi. Moving the motion, Ozodinobi noted that constitutionally, it is important to harness the nation’s resources to promote its prosperity. He argued that lives and revenues have been lost “Due to the government’s inability to recognise, regulate, and control artisanal refining of petroleum products,” a practice which according to him has been prevalent in the Niger Delta region for decades. He further noted that in 2016, “The Federal Government proposed the integration of artisanal refi...

4 ex-governors, 2 ex-ministers charged as EFCC recovers N248bn, foreign assets By Potoki ThankGod ABUJA –  The Economic and Financial Crimes Commission (EFCC) has announced the successful prosecution of four former governors and two former ministers over the past 12 months under the leadership of Executive Chairman Ola Olukoyede. During a press briefing in Abuja on Thursday, Olukoyede, represented by the agency’s Director of Public Affairs, Wilson Uwujaren, highlighted the commission’s significant achievements in asset recovery and fraud prevention. He stated that high-profile figures charged include former governors Yahaya Bello (Kogi), Abdulfatah Ahmed (Kwara), Willie Obiano (Anambra), and Darius Ishaku (Taraba) for serious allegations involving billions in state funds. Bello faces charges related to over N190 billion, Ishaku and a former official for N27 billion, Ahmed and his former finance commissioner for mismanagement of N10 billion, and Obiano for money laundering and theft...

Tinubu Not Against The North, All Nigerians Voted For Him – Adelabu Tells Kano State Governor The Minister of Power, Adebayo Adelabu, declared on Thursday that President Bola Tinubu is not against the northern region of the country or any other region. He discarded reports in certain quarters claiming  President Tinubu  is discriminating against the northern region in particular. Adelabu, who spoke during a courtesy call to the Kano State Governor,  Abba Yusuf , said all Nigerians voted for Tinubu, hence no reason for discrimination. Speaking against the recent blackout, which affected some states in the north, the Power Minister emphasized that what happened was not intentional and that repair works are almost complete. “The situation is worrisome and unfortunate. The President does not intend to discriminate against any region. We all voted him as Nigerians, and he has all of us at heart. “What happened about the power outage in the past days was not deliberate but...

Senators back initiative to distribute 10bn copies of Christ Embassy’s Rhapsody of Realities Some senators have backed the initiative to distribute 10 billion copies of ‘Rhapsody of Realities’ to stimulate attitudinal change for growth and national development. The senators gave their commitment at the inauguration of the initiative: tagged “Reachout World Day with Rhapsody of Realities”, at the National Assembly Complex on Thursday. The News Agency of Nigeria (NAN) reports that Rhapsody of Realities is a monthly devotional publication by Pastor Chris Oyakhilome of Christ Embassy Church, aimed at driving positive change. In his remarks, Sen. Omueya Dafinone (APC-Delta) described Rhapsody of Realities as a life guide that brings the daily perspective of God’s word to the readers. According to him, the publication intends to bring readers around the world the opportunity to review their lives on a daily basis in order to live a better life. Also speaking, Sen. Thomas Joel-Onowakpo (PDP-D...

Wike: No Unprofiled Vehicles in FCT by 2025 The Minister of the Federal Capital Territory (FCT) of Nigeria, Nyesom Wike, has said that starting January 2025, the FCT Administration will not allow unregistered vehicles in the capital. He also stated that all commercial buses operating in the capital would be registered by the Nigeria Police Force(NPF) and the Department of State Services (DSS). Wike made these remarks on Thursday during the FCT Renewed Hope Youth Empowerment Programme in Abuja, where he provided new cars to beneficiaries to use as taxis. “They are not paying a dime. No. The government is saying this is our support to feed your family and reduce the cost of transportation in the city. Abuja should compete with other cities in the world,” the minister said. He urged the beneficiaries not to feel embarrassed about being trained to become taxi drivers, noting that many Nigerians who dismiss driving jobs locally are eager to take them on when they go abroad. To reduce incide...

Breaking: NEC Recommends Withdrawal Of Tax Reform Bills In the wake of the controversies surrounding the tax reform bill already at the National Assembly, the National Economic Council (NEC) has recommended its withdrawal. FocalPoint Reports   that NEC, headed by Vice-President Kashim Shettima, has governors as members. Speaking with state House journalists after the NEC meeting on Thursday, Oyo State Governor, Seyi Makinde, said following the controversies that arose due to the bills, NEC recommended its withdrawal so that stakeholders would be better carried along. More details to come… Tax Reform Bill Not Against The North Meanwhile, the Bola Ahmed Tinubu-led administration has stated that the proposed tax reform bills is not against the north, adding that the bill will benefit all states. FocalPoint Reports  that this was made known in a statement on Thursday by Tinubu’s Special Adviser on Information and Strategy,  Bayo Onanuga . Recall that ...