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Return of fuel, electricity subsidies will widen 2024 budget deficit – IMF

THE  International Monetary Fund (IMF) has warned that Nigeria’s 2024 budget deficit would widen beyond the projected figure due to the restoration of fuel and electricity subsidy payments and increased interest costs on debt.

This is contained in the IMF’s Staff report on Nigeria, where it stated that the suspension of excise duties in the Medium Term Expenditure Framework (MTEF) and lower revenues from oil and gas sales were part of the drivers of the projected increase in the budget deficit.

The report noted that the federal government would require a supplementary budget to meet its plans for a minimum wage increase later in the year which would most likely exceed the figure projected in the 2024 budget.


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Nigeria currently struggles with meeting its Organisation of Oil Exporting Countries (OPEC) quota of 1.7 million barrels per day due to oil theft, which would affect its budget funding and further widen the budget deficit financing.

In addition, the implicit return of oil subsidy will cost Africa’s largest crude producer an estimated 8.43 trillion naira ($5.9 billion) of its projected 17.7 trillion naira of oil revenue, the IMF said in the the report.

The deficit is expected to widen as the federal government in the 2024 appropriation projected a budget deficit of N9.18 trillion, representing a 33.5 per cent decline in the fiscal deficit compared with the N13.78 trillion recorded in 2023.

Contrary to previous years, the federal government did not make any appropriation for fuel subsidies in 2024, however, the subsidy has been returned without appropriation.

“Fuel subsidies were reformed in June 2023, however, adequate compensatory measures for the poor were not scaled up promptly and subsequently paused over corruption concerns,” the IMF said in the report.

It added, “Staff projects a higher fiscal deficit than anticipated in the 2024 budget, but broadly unchanged from 2023. The drivers are (i) lower oil/gas revenue projections, reflecting IMF oil price forecasts but incorporating recent production gains; (ii) higher implicit fuel and electricity subsidies; (iii) continued suspension of excise measures included in the MTEF; and (iv) higher interest costs.

“In addition, the authorities noted that a supplementary budget may be needed to accommodate the outcome of the ongoing wage structure negotiations which may exceed what they had included in the 2024 budget.”

Furthermore, based on past results, the IMF projected capital spending to be lower than planned, leading to a projected federal government deficit of 4.5 per cent of GDP in 2024, compared to the budget target of 3.4 per cent of GDP.

Beyond that, the federal government partly returned to cost-reflective pricing for electricity tariffs in April with the over 200 per cent hike in electricity tariff for Band A customers who comprise about 15 per cent of the total electricity customers across the country.

The IMF had earlier warned that non-cost reflective prices in electricity tariffs and fuel could cost Nigeria around three per cent of the Gross Domestic Product (GDP) in 2024.

Niger Speaker to marry off 100 female orphans as empowerment project

THE Speaker of the Niger State House of Assembly, Abdulmalik Sarkindaji, has announced plans to marry off 100 female orphans as part of his empowerment project. 

According to Punch, the speaker who represents the Mariga Constituency disclosed this to journalists in Minna, the state capital on Friday, May 10.

The female orphans whose age were not disclosed were said to have lost their parents to banditry attacks in Mariga Local Government Area.

Sarkindaji promised to pay their bride price and claimed to have procured all necessary materials for the mass marriage ceremony.

Accordingly, the ‘beneficiaries’ were ‘carefully’ selected from the 170 girls whose names were submitted.

The marriage is slated for May 24 at Bangi, the headquarters of Mariga Local Government Area.

The Speaker described the ‘initiative’ as part of his constituency empowerment project, “aimed at alleviating the suffering of the impoverished.”

He explained that the Niger State Governor, Mohammed Umar Bago, and the Emir of Kontagora, Mohammed Barau, would serve as guardians to the female orphans during the mass marriage ceremony.

The Kano State Commander-General of the Hisbah Board, Sheikh Aminu Daurawa, is expected to attend the event.

In 2023, The ICIR reported rampant practice of forced child marriage in Niger State. The report covered the Bida Emirate of the state.

It detailed how young girls in the Emirate were tortured while resisting marriage. The girls were hypnotised by a prominent herbal doctor, scolded by relations, forced to marry in court, fled to the bush and allegedly lived in the mountains for days in order to escape being compelled to wed.

The girls’ parents also shared their views in the report. While some regretted the actions, others condemned their girls for rejecting their decision and going against tradition and the prevalent Islamic religion in the state.

Stakeholders, including community and religious leaders, lawyers, and health officials, said child marriage was rife in the state and condemned the practice.

The sources who are Muslims said forced marriage was against Islam. They also spoke on the need for children to receive education, at least until they complete secondary school, before marriage.

In 2021, a report by Save the Children International revealed that about 78 per cent of girls in Northern Nigeria were victims of forced child marriage.

The report showed that Nigeria had one of the highest rates of child marriage in the world.

Even though the Niger State Speaker admitted that the brides were carefully selected for the planned wedding, it remains unclear whether they consent to it.

Tinubu commissions lithium processing factory in Nasarawa

PRESIDENT Bola Ahmed Tinubu on Friday, May 10, commissioned a lithium processing factory built in Nasarawa State by a Chinese firm, Avatar New Energy Materials Company Limited.

The commissioning, which took place at Kama Otto in Nasarawa Local Government Area, was in collaboration with the state government.

Tinubu was represented at the occasion by the Senate President, Godswill Akpabio.


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In attendance were the Nasarawa State Governor, Abdullahi Sule, his Kogi State counterpart, Usman Ododo, Minister of Solid Minerals Development, Dele Alake, some federal lawmakers, former leaders of the state, and traditional rulers.

In his address, Tinubu said the company’s commissioning was an example of a good partnership between the federal government, states and investors.

The President said establishing the lithium company would create employment opportunities for the youth and position Nigeria as a key player in the global lithium market.

This, he said, was in line with his government’s Renewed Hope Agenda of diversifying the nation’s economy by leveraging on the mining sector to expand the country’s sources of revenue for socio-economic development.

“Realising the benefits of lithium and other mineral resources, our administration will continue to pay particular attention to the maximum utilisation of the product for the benefit of our people.

“While we appreciate this investment in the first phase, processing of lithium, our goal is for investors to establish factories for the complete value chain processing of lithium and all other minerals,” the President said.

Tinubu called on all Nigerians to support his government’s policies and urged local and international companies to patronise Avatar Company for the growth and prosperity of Nigeria.

He also appreciated the Nasarawa state’s people for accommodating the firm.

He said: “Today, we are here to thank you, not just in words. We are thanking you for a massive project, the commissioning of the state-of-the-art lithium processing factory, the first in this state and one of the best in Africa.

“What does this mean to our people? Lithium is a critical component in the production of batteries for electric commodities. Our people have been using phones, vehicles and other appliances powered by lithium batteries as consumers.

“For the first time in the history of our technology, we are becoming partners and partakers in the production value chain of these minerals. It is a historic leap because we now have opportunities to know how it is done, to own and hone the skills,” he added.

Earlier, the Nasarawa State Governor, Abdullahi Sule appreciated the security agencies because, according to him, the factory site used to be a “no-go area” because of banditry activities.

In his remarks, the Minister of Solid Minerals Development, Dele Alake, said what Avatar New Energy Materials Company did, with the commissioning of the factory, was to show that the business was not only possible but profitable.

“The feedback from our investment promotion and the increasing number of companies seeking to set up similar lithium battery factories like this in our country are already multiplying. And this is encouraging us to make a case for strong protection of these lithium battery companies from foreign competition,” Alake said.

FIJ reporter Daniel Ojukwu has case to answer in court – Police

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THE Nigeria Police Force on Friday, May 10, said it would arraign Daniel Ojukwu, a reporter with the Foundation for Investigative Journalism (FIJ) before a Federal High Court.

A statement by the Force Public Relations Officer, Olumuyiwa Adejobi, claimed that Ojukwu’s arrest and arbitrary detention were justifiable under the law.

Ojukwu was arrested by the police in Lagos on May 1 by officials of the Intelligence Response Team (IRT) of the Inspector-General of Police (IGP) Kayode Egbetokun.

He was subsequently moved to the Force Criminal Investigation Department (FCID), Abuja, after spending four days in police custody in Lagos State.

He was detained for 10 days before he was released on Friday, May 10.

The ICIR reported that his release followed the protest of civil society organisations and journalists, demanding his release at the Force Headquarters on Thursday, May 9.

However, Adejobi, in a statement said the reporter had a case to answer in the court of law.

The statement was titled, “FIJ’S Case: Ojukwu’s arrest, investigation justifiable under the law – FPRO. He has a case to answer.”

According to him, he was lawfully apprehended and detained pursuant to a remand warrant issued by a competent court of justice on May 2, a day after his arrest.

The ICIR reports that while the police claimed it secured a court’s remand warrant on the journalist on May 2, his arrest only became known on Friday, May 3, after his family, employers and colleagues had been looking for him.

Ojukwu was initially held at the State Criminal Investigation Department (SCID), Panti, in Lagos, and was denied access to legal representation.

“Mr. Ojukwu was lawfully apprehended and detained pursuant to a valid remand warrant issued by a competent court of justice on May 2, 2024. His initial detention in Lagos and subsequent transfer to Abuja by the FCID-National Cybercrime Centre aligns with standard investigative procedures undertaken by police,” Adejobi said in his statement.

The FPRO further conceded that Ojukwu’s abduction was in connection with his story concerning financial transactions and contract execution.

He noted that his detention was linked to allegations of violating provisions of the Cybercrime Act and other extant laws about cyber-related crimes.

The ICIR reported that Ojukwu, in his investigation, revealed how Adejoke Orelope-Adefulire, former senior special assistant on sustainable development goals (SSAP-SDGs) to former President Muhammadu Buhari, paid N147.1 million to an account traced to Enseno Global Ventures (Enseno GV), an Abuja-based restaurant, for constructing a classroom.

“These allegations stem from a report concerning financial transactions and contract execution upon which he was petitioned to the Nigeria Police for investigations.

“With our preliminary forensic investigation and recovery of some contents generated by the suspect, Mr Ojukwu has a case to answer and as such will be arraigned in court upon conclusion of investigations,” the statement read. 

Adejobi further said that the police did not deny Ojukwu bail, adding that his release was predicated on him meeting the conditions set for the bail.

This was, however, in contrast with the claim made by Ojukwu’s legal representatives and negotiators, led by Omoyele Sowore, who noted that the police changed the bail conditions after initially confirming the properties of the sureties.

They also said the police later imposed stringent bail conditions on the reporter.

While Adejobi stated that the journalist’s freedom from police detention would be followed by the commencement of his prosecution at the Federal High Court, he added that his release had no correlation with the “unwarranted protest” held at the police headquarters on Thursday, May 9.

“He has, however, been released upon providing a reliable surety today Friday, May 10, 2024, pending the commencement of prosecution at the Federal High Court which has jurisdiction over cyber-related crimes.

Court bars pro-Wike Speaker, Amaewhule, 24 others from parading as lawmakers

A RIVERS State High Court in Port Harcourt has barred the Speaker of the state House of Assembly, Martin Amaewhule, and 24 other lawmakers in the state from parading themselves as the Assembly member. 

The court also restrained Amaewhule from parading himself as the Assembly Speaker.

Amaewhule and 24 members of the House of Assembly defected from the Peoples Democratic Party (PDP) to the All Progressives Congress (APC) in December 2023. 

They are widely believed to be loyal to the state’s immediate past governor and the current Minister of the Federal Capital Territory (FCT), Nyesom Wike.

The Rivers State High Court judge, Charles N. Wali gave the order barring them as lawmakers in a suit numbered PHC/1512/CS/2024, filled by Victor Oko Jumbo, the factional Speaker of the Assembly and two others.

Respondents in the case include Amaewhule and 24 others, the Rivers State governor, Siminalayi Fubara, the state’s Attorney General and the Chief Judge.

After hearing from the applicants’ lawyers, Sammie A. Somiari and B.N.Owunabo, the judge ruled that Amaewhule should stop acting as the Speaker.

In addition, the court issued a restraining order, prohibiting Fubara and the Chief Judge, who are the 26th and 28th defendants in the suit, from engaging with Amaewhule and his 25 loyalists.

Part of the order reads: “An Order of interim injunction is granted restraining the 1st to 25th Defendants from parading and holding out themselves as members of Rivers State House of Assembly and/or meeting/sitting at the Auditorium of the House of Assembly Quarters located at off Aba Road, Port Harcourt or any other place whatsoever to purport to carry out the legislative business of the Rivers State House of Assembly, their legislative seats having been declared vacant pending the hearing and determination of the motion on notice.

The court adjourned the case till May 29, for motion on notice.

The ICIR reported that there had been political tension in Rivers State following a rift between Fubara and Wike.

The tension was heightened in October 2023 during a fire outbreak at the Rivers State House of Assembly.

After the fire incident, impeachment processes were initiated against Fubara by some members of the House of Assembly believed to be loyal to Wike.

Fubara was accused of masterminding the fire as part of efforts to frustrate the impeachment process.

The pro-Wike lawmakers initiated the impeachment after 27 members led by Amaewhule defected from the PDP to the APC.

While the members loyal to Wike were led by Amaewhule as Speaker, the others loyal to Fubara were led by Edison Ehie as Speaker. 

Ehie was later appointed by the governor as his Chief of Staff after he resigned from the Assembly, following President Bola Tinubu’s intervention in the crisis.

Weeks after the President’s peace deal collapsed, the parties returned to the battlefield.

The feud took a new turn on Wednesday, May 8 when those loyal to the governor elected Victor Oko-Jumbo, a member from the Bonny constituency, as Speaker.

Jigawa Reps member Isa Dongoyaro dies at 46

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A MEMBER of the House of Representatives, Isa Dongoyaro, is dead.

He was 46.

Dongoyaro, who represented the Babura/Garki Federal Constituency in Jigawa State on the All Progressives Congress (APC) platform, died on Friday, May 10, after a brief illness.

This was disclosed in a statement by the spokesperson of the House of Representatives, Akin Rotimi, on Friday.

“It is with deep sorrow that we announce the passing of Hon Isa Dogonyaro (Kogunan Ringim), the distinguished member representing the Babura/Garki Federal Constituency of Jigawa State in the 10th Assembly of the House of Representatives. Hon Dogonyaro passed away after a brief illness.

“Hon Isa Dogonyaro was a dedicated and passionate legislator who served his constituents and the nation with utmost commitment. He was a pillar in the House, contributing significantly to the development of legislation, particularly in the area of HIV/AIDS, Tuberculosis, and Malaria Control, where he served as the Deputy Chairman of the House Committee,” Rotimi noted.

He extended the lawmakers’ condolences to the deceased’s family, adding that burial arrangements would be communicated soon.

About six months ago, the House of Representatives lost one of its members Abdulkadir Danbuga, who died at 63.

He died and was buried on Wednesday, October 11, according to Islamic rites, after a brief illness.

Danbuga, who was also elected on the APC platform, represented the Isa/Sabon Birnin Federal Constituency of Sokoto State until his passing.

A few months before his death, in April 2023, Isma’ila Maihanchi, elected to represent Jalingo/Yorro/Zing Federal Constituency in Taraba, died shortly before the inauguration of the 10th assembly.

He was 36.

Spotify: Nigerian artistes earned N25bn from streaming in 2023

NIGERIAN artistes earned N25 billion as royalties from the global music streaming platform Spotify in 2023.

According to the News Agency of Nigeria (NAN), Spotify’s Managing Director Jocelyne Muhutu-Remy disclosed this in its recently launched annual reports Loud&Clear.

The sum was at least twice what the country’s artistes earned in 2022, and a 2,500 per cent rise from what they got in 2017.

Muhutu-Remy also noted that more than half of the royalties paid went to independent artistes and labels. He applauded the Nigerian artistes for their creativity.

“Spotify listeners discovered Nigerian artistes nearly 950 million times in 2023 and Nigerian artistes own over 80 per cent of the tracks featured on Nigeria’s daily top 50 chart in 2023. Over 1,400 Nigerian artistes added to Spotify’s editorial playlists in 2023.

“The significant growth in royalties earned by Nigerian artistes on our platform is a powerful testament to their talent, creativity and global appeal. We are proud to amplify their voices and fuel the Nigerian music revolution,” Muhutu-Remy said.

She also added that Nigerian artistes who earned over N10m in royalties quadrupled since 2018.

Stating that indigenous genres like Highlife, Igbo Pop and Fuji experienced significant listenership during the year, she explained further that Spotify was committed to supporting Nigerian artistes to earn more from their works.


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The Nigerian music industry is the second best-performing entertainment and media market, and has rapidly gained popularity globally.

According to a report, the industry generates over $2 billion in revenue yearly, making it one of the largest music industries in the world.

Nigerian artistes have also made a significant impact globally, winning international awards, and collaborating with their foreign counterparts.

Daniel Ojukwu: We will explore all legal means to seek justice – FIJ

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THE Management of the Foundation for Investigative Journalism (FIJ) has said the media outlet would explore all legal means to seek justice for its reporter, Daniel Ojukwu, who was abducted and detained for ten days by the Nigeria Police Force (NPF).

This was contained in a press statement released after Ojukwu regained his freedom on Friday, May 10.

“We are taking advice from our lawyers and will explore all legally permissible means to seek justice for Daniel Ojukwu and prevent a recurrence of such blatant abuse of power and attack on press freedom,” chairman, FIJ’s Board of Trustees, Bukky Shonibare, disclosed in the statement.

The statement also conveyed FIJ’s gratitude to media partners, civil society organisations (CSOs), activists and others involved in the call for Ojukwu’s release.

“We note the significant effect of the media pressure and, more importantly, Thursday’s protests by civic actors in modifying what had been a deliberate misuse of state power by the police.

“Saddening and primitive as they are, moments like this are a refreshing reminder of the potency of a united public to hold power to account,” it further read.

Ojukwu was released on Friday, after being abducted by officials of the Intelligence Response Team (IRT) of the Inspector-General of Police (IGP) Kayode Egbetokun on Wednesday, May 1, two days before World Press Freedom Day.

His abduction only became known on Friday, May 3, after spending four days with the police in Lagos State. He was subsequently transferred to the Force Criminal Investigation Department (FCID) in Abuja.

He was transferred by the IRT to the Nigeria Police Force National Cybercrime Centre (NPF-NCCC) in Abuja in the early hours of Sunday, May 5.

On Thursday, May 9, CSOs, journalists and well-meaning Nigerians gathered at the Police Headquarters in protest against his continued detention.

The protesters who marched and chanted various solidarity songs also voiced their discontent over the growing cases of attacks on press freedom and the flagrant abuse of due process and the rule of law by the Nigeria Police under Egbetokun.

Addressing the protesters, the Federal Capital Territory (FCT) Commissioner of Police, Benneth Igweh, called for calm and promised that the journalist would be released.

Attacks and unlawful detention of journalists have remained a threat to press freedom in Nigeria.

Ondo 2024: threat of electoral violence raises concerns after two chieftains’ death

WITHIN the space of one month, two key players in the Ondo state political space have died under curious circumstances, leaving many Nigerians concerned about possible violence ahead of the November 16 governorship election in the state.

On Saturday, April 27, one of the coordinators of the Lucky Aiyedatiwa Campaign Organisation, Alaba Abbey, was assassinated.

He was shot dead by gunmen at his residence in Supare-Akoko, Akoko South West Local Government Area (LGA) of the state.

A month earlier, on Tuesday, March 26, a gubernatorial aspirant under the All Progressives Congress (APC), Paul Akintelure, died days after raising an alarm that his life was being threatened.

While Abbey’s killing occurred just six days after the conclusion of the APC primary, in which he was reported to have played the significant role of Returning Officer at his ward, Akintelure died about three weeks before the party’s primaries in which he would have been a major contender.

The ICIR reports that while the two deaths affected the APC chieftains before and after the primary, some contenders for the governorship seat who lost in the party’s primary have remained resentful as the state and national leadership of the APC labour to appease them.

The deaths have left many residents of the state worried about safety ahead of the polls, especially members of the APC, including the Campaign Organisation where Abbey served before his assassination.

Members of the organisation released a statement expressing shock at his killing and urging the police to protect them from such violent acts.

Ondo State Governor, Lucky Aiyedatiwa
Ondo State Governor, Lucky Aiyedatiwa

Before the two incidents, some governorship aspirants under the APC had raised the alarm over political violence in the state, claiming people in government were behind the crisis.

Reacting to this, the spokesperson of the Ondo state APC, Alex Kalejaye, attributed these to the general problem of insecurity confronting all Nigerians.

“It has nothing to do with the primaries. Across this country, whether there are primaries or not, somebody is hit, injured, or killed on a daily basis. We should admit that there are serious security challenges across the country. It has been on. The current administration is trying to nip it in the bud. We must commend the efforts, but it is still everywhere. These things happen,” he said.

He added that while it was not a major source of worry for the party, efforts were being made to reconcile aggrieved members ahead of the elections.

“Naturally, once there is an election in Nigeria, there will be a need for reconciliation because there is no how you contest that people will not feel aggrieved. Reconciliation is normal, so that is where our focus is now: to reconcile anybody that might have cause to be aggrieved ahead of the November governorship election.

However, the spokesperson of the People’s Democratic Party (PDP) in the state, Kennedy Peretei, who spoke to The ICIR on the issue, described the loss of lives as a matter of concern.

“When loss of life is involved, everybody must be concerned because we are not talking of the lives of animals; we are talking of the lives of human beings. Whether it is by natural cause or maybe effected on another by some other persons, there should be cause for concern.

“We have expressed concern, but Ondo State is not known for that kind of violence. That is why we are advising the APC to play by the rules of the game,” he said.

Urging the ruling party to show leadership by example, Peretei warned against militarisation of the electoral process or intimidation of the people.

Nineteen political parties will be contesting the Ondo State governorship elections in November.

Two of the major contenders are incumbent governor Lucky Aiyedatiwa, who is contesting under the APC, and Agboola Ajayi, who joined the contest under the umbrella of the PDP.

Police confirm arrest of man who killed friend over N3m job scam in Kano

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THE Kano State Police Command has confirmed the arrest of Sadiq Zubairu who allegedly killed his friend, Bello Adam, over his failure to help the deceased secure a job after receiving N3 million from him.

Zubairu had allegedly promised the late Adam, his former colleague at the Kano Electricity Distribution Company (KEDC), to help him secure a job at the Federal Inland Revenue Service (FIRS).

The command in a statement signed by its spokesperson, Abdullahi Haruna Kiyawa on Friday, May 10, said Adam, aged 45 years left his home with his Toyota Corolla vehicle and his whereabouts became unknown.

He said on the evening of the same date, there was a report that the deceased body of a male adult had been discovered abandoned on the outskirts of Eastern Bypass, around Bechi Village in Kumbotso Local Government Area of the state. 

“The body was removed from the scene by a team of crime-scene policemen led by Divisional Police Officer (DPO), Kumbotso Division, SP Mustafa Abubakar, who brought the corpse to Aminu Kano Teaching Hospital, where a medical doctor certified the body dead.

The team immediately swung into action and arrested one Sadiq Zubairu, aged 35 years old, ‘m’, of Hotoron Arewa Quarters, Nassarawa LGA on 06/05/2024 at 9:00 am,” Kiyawa stated.

He added that during preliminary investigations, the suspect, Zubairu confessed that he conspired with two others, and jointly lured the victim who until his death was his intimate friend to his house.

According to Kiyawa, the suspect narrated that he tied the victim up, and hit him with sticks and sharp iron on his head and other parts of his body until he became motionless. 

Thereafter, he loaded the motionless body inside the boot of the deceased vehicle, threw him off by the roadside along Eastern Bypass, around Bechi village and left with the victim’s vehicle, including his mobile phone.

The police said the suspect further confessed that what led to the killing was because he deceitfully collected three million naira from the victim on the pretext that he would secure a job for him but having realised that he had no means of returning the money to him he hired two persons to kill him.

According to the police, the victim’s car has been recovered at a Garage in Hotoro Quarters, Kano.

The police commiserated with the deceased family and reaffirmed its commitment to combating crime in all its forms and to continue to work tirelessly in protecting the lives and property of all Kano residents.