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FG printed additional N50bn to support March FAAC – Obaseki

The development, he said, is a clear indication Nigeria is in huge financial trouble.
“When we got FAAC for March, the federal government printed additional N50-N60 billion to top-up for us to share,” Obaseki stressed
While lamenting the over-dependence on crude oil, the Governor expressed worry over rising debts of the nation.
He canvassed for diversified economy where all the three tiers of government would have a strategic role to play.
“This April, we will go to Abuja and share. By the end of this year, our total borrowings are going to be within N15-N16 trillion.
“Imagine a family that is just borrowing without any means to pay back and nobody is looking at that. Everybody is looking at 2023, everybody is blaming Mr. President as if he is a magician,” he said.
He added: “Nigeria has changed. The economy of Nigeria is not the same again, whether we like it or not. Since the civil war, we have been managing, saying money is not our problem as long as we are pumping crude oil everyday.
“So we have run a very strange economy and strange presidential system where the local, state and federal governments, at the end of the month, go and earn salaries. We are the only country in the world that does that.
“Everywhere else, the government relies on the people to produce taxes and that is what they use to run the local government, state and the federation.
“But with the way we run Nigeria, the country can go to sleep. At the end of the month, we just go to Abuja, collect money and we come back to spend. We are in trouble, huge financial trouble.
“The current price of crude oil is only a mirage. The major oil companies who are the ones producing are no longer investing much in oil.
“Shell is pulling out of Nigeria and Chevron is now one of the world’s largest investors in alternative fuel, so in another year or so, where will we find this money that we go to share in Abuja?”
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Lagos Female Lawyer Risks Jail Term For Failing To Produce Suspect

A 29-year-old female lawyer, Ms. Peace Chidinmma Igbo, has been brought before an Ebutta-Metta Magistrate’s Court in Lagos State for failing to produce a suspect she stood bail for.
According to a charge sheet,” That you Peace Chidinma Igbo ‘F’ on the 25th day of November 2024 at the Nigeria Police Force CID Annex Alagbon, Lagos did conspire together to obstruct, prevent, pervert or defeat the course of justice by failing to provide one Sodiq Kazem which you stood bail for in a case of conspiracy, burglary, unlawful entry, stealing and given false information in a bail sum of (N1,000,000.00) One Million Naira at the Nigeria Police Force CID Annex Alagbon Lagos and thereby committed an offence punishable under Section 97 (1) of the Criminal Laws of Lagos State of Nigeria, 2015.
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In his remarks, the complainant’s lawyer, Mr. Olu Akanbi, stressed that Miss Igbo should have known better than to put herself in such a situation.
Akanbi stated that Miss Igbo was protecting other individuals involved in the matter, essentially taking the fall for them.
“These individuals, who are being investigated by the police at the Federal Criminal Investigation Department (FCID) Alagbon Annexe, are reportedly using retired and serving senior police officers to shield themselves and frustrate the investigation.
The lawyer extolled FCID police officers for their due diligence.
Mr Akanbi said as a legal practitioner, Ms Igbo’s actions over the matter have raised questions about her professional conduct. He further stated that Ms Peace Chidinma Igbo and Mr Sodiq Kazeem are both staff of Green Birch Tech Limited and are also conspirators with the other staff now at large.
Meanwhile, the matter has been adjourned to May 20, 2025, leaving Miss Igbo’s fate hanging in the balance.
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I committed to diversifying the economy and expanding revenue sources, not to punish Nigerians, Says Tinubu

President Bola Tinubu said on Thursday that recent government policies are not meant to punish Nigerians but are necessary interventions to prevent the economy from collapsing.
Tinubu made this known at the 55th Annual Conference of the Nigerian Institute of Estate Surveyors and Valuers (NIESV) in Abuja.
The president was represented by the Minister of Housing and Urban Development, Ahmed Dangiwa.
Dangiwa was, in turn, represented by Dr Edna Tobi, Special Assistant for International Cooperation and Partnership in the Ministry.
The conference’s theme was, “Transform, Invest, Drive: Optimising Real Estate Finance and Taxation.”
It brought together stakeholders to deliberate on the intersection of real estate and fiscal policy.
The president said that the administration was committed to diversifying the economy and expanding revenue sources.
This, he said, informed the government’s drive to implement policies that enhanced income from taxation while upholding fairness and transparency.
“Our decision to reform Nigeria’s tax system and fiscal policy was deliberate and strategic,” he said.
“It was a courageous and bold move aimed at addressing the suffocating economic challenges facing the nation.”
Tinubu stated that reforms were tailored to create a more investment-friendly environment, particularly in the real estate sector, and to boost job creation and economic growth.
He acknowledged the critical role of estate surveyors and valuers in achieving these objectives and expressed the government’s willingness to partner with NIESV to deliver effective tax administration and revenue utilisation.
Delivering the keynote address, Executive Chairman of the Federal Inland Revenue Service (FIRS), Dr Zacch Adedeji, described the real estate sector as a vital but under-assessed part of Nigeria’s economy.
Adedeji, represented by Chief Economic Adviser Prof. Mohammed Salisu,identified challenges such as informality, data fragmentation, and inconsistent valuation standards as obstacles to effective taxation.
“The Tax Administration Bill will provide clearer procedures and responsibilities for taxpayers, enhance compliance, and reduce inefficiencies and multiple taxation,” he said.
Adedeji called for the cooperation of NIESV in standardising property valuation methods and supporting the implementation of reforms.
NIESV President, Victor Alonge, described the conference as a milestone event, stating that the outcomes would help reposition land, housing, and infrastructure policy in Nigeria.
He assured that the institute would present a comprehensive communiqué to the government, containing resolutions and actionable policy suggestions to drive national development
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Things You Need to Know About Dr. Charles Akinola, the Newly Nominated Managing Director of SWDC

….A Seasoned Public Policy Advisor and Development Strategist
Dr. Akinola has over 30 years of experience in public service, international development, and strategic governance, specializing in agricultural development, sustainable economic growth, and policy implementation across Nigeria and West Africa.
2. Holds Prestigious Academic Credentials from Global Institutions. He earned a Ph.D. in Agricultural Extension from the University of Ibadan and a master’s in public policy & administration from Harvard Kennedy School, where he was an Edward S. Mason Fellow.
He also studied at Cambridge, Cranfield, and MIT, gaining advanced expertise in cross-sector partnerships, enterprise development, and conflict resolution.
3. Instrumental in the Formation of the SWDC and the DAWN Commission
Long before his nomination, Dr. Akinola played a key role in founding the Development Agenda for Western Nigeria (DAWN) Commission for regional integration. He was deeply involved in shaping the vision of the SWDC.
As Chairman of the Technical Committee under the Southwest Governors’ Forum, he led the review of the SWDC Bill and coordinated regional consensus on development priorities.
4. Former Chief of Staff in Both Federal and State Governments, He served as Chief of Staff to the Governor of Osun State (2018–2022) and later as Chief of Staff to the Minister of Marine & Blue Economy, His Excellency Adegboyega Oyetola (CON), while also acting as Senior Special Assistant on Marine and Blue Economy to President Tinubu.
These roles gave him frontline experience in both subnational and national policy execution.
5. A Leader in Community Engagement and Sustainable Development, Dr. Akinola has worked with major oil & gas companies, including WAPco, designing sustainable livelihood programs across Nigeria and the Gulf of Guinea. His contributions helped establish the Global Memorandum of Understanding (GMoUs) as an industry benchmark for community development in the Niger Delta.
6. Active Global Policy Thought Leader.
He is a member of the Dean’s Council at the Harvard Kennedy School of Government and was a Fellow at Harvard’s Weatherhead Centre for International Affairs. His thought leadership focuses on governance, economic innovation, and institutional reform.
7. Arts Collector
Dr. Akinola is a lover of the arts and culture, collects works of indigenous artists, such as Jimoh Buraimoh, Demas Nwoko, Tola Wewe, Nike Okundaye, among others.
*Career Highlights*
• Dr. Charles Akindiji Akinola is a Public Policy Advisor and Administrator whose work has traversed the agricultural and agribusiness, sustainable community economic development, international affairs, and development sectors, developing strategies that shape policy implementation.
• Dr. Akinola holds a Ph. D. in Agricultural Extension from the University of Ibadan, and a master’s degree in public policy & administration from the Harvard Kennedy School of Government, Harvard University.
• He also holds a Postgraduate Certificate in Cross-Sector Partnerships from the University of Cambridge, Cambridge, UK, and attended certificate courses in Enterprise Development and Management from Cranfield University, Cranfield UK, and in Negotiation, Mediation, and Dispute Resolution from the Massachusetts Institute of Technology (MIT), Boston, USA.
• Until recently, Dr. Akinola was Senior Special Assistant to the President on Marine & Blue Economy and concurrently, Chief of Staff to the Honourable Minister.
• He served as the Chief of Staff to the Governor of Osun State between 2018 and 2022. During his tenure, he supported the Governor in developing and implementing policy objectives and strategic and operational plans of the administration.
• As Chief of Staff, the Southwest Governors Forum appointed Dr. Akinola as the Chairman of the Technical Committee to review the South-West Development Commission (SWDC) Bill and aggregated the position of the six Southwest States towards a joint memorandum to the Governors and subsequently to the National Assembly.
• He has worked with major oil & gas companies within and outside Nigeria including the West African Gas Pipeline (WAGP) / West Africa Gas Pipeline Company (WAPco) covering Nigeria, Republic du Benin, Togo, and Ghana by designing and implementing programs that addressed issues of Sustainable Development and Livelihoods in the Niger Delta and West Africa region.
• He advised and collaborated with International Oil companies in the development of the New Community Engagement Strategy, premised on the Participatory Regional Development Model (2005), guided by the Global Memorandum of Understanding (GMoUs). The model was adopted as the industry standard in Community engagement and development by the joint ventures of the National Nigerian National Petroleum Corporation and the Oil companies in the Niger Delta.
• In previous roles, Dr. Akinola was the Director General of the Office of Economic Development and Partnerships (OEDP) between 2011 and 2018. The OEDP was the strategic Think Tank, Policy Advisory, and Implementation agency domiciled in the Office of the Governor. Dr. Akinola played a central role in the activities leading to the establishment of the Development Agenda of Western Nigeria (DAWN) Commission.
• He was Chairman of the Osun State Planning Commission between 2011-2014 and in this capacity collaborated with leading development partners to deliver sustainable development in the State.
• Dr. Akinola was the Founder and Executive Director of Enterprise for Development International (EfDI) between 1999 and 2009. In this role, he coordinated EfDI’s varied consultancy assignments in community economic development in Nigeria, including the expansion of EfDI’s portfolio of development activities in the Niger Delta and the strengthening of local institutions.
• Between 2001 and 2005, Dr. Akinola was the National Coordinator of the Sustainable Tree Crop Program (STCP), a multi-agency, public-private sector effort to facilitate the improvement of smallholder agricultural systems based on tree crops in West Africa with funding from the United States Agency for International Development (USAID) and the Chocolate Industry Worldwide.
• Between 1993 and 1998, Dr. Akinola was the Nigeria Country Director of TechnoServe, a US-based international development organisation that worked in 17 countries in Africa, Latin America, and Eastern Europe.
• He taught at the University of Ibadan in Nigeria from 1984 until 1989 and was on the training and research faculty of the Pan African Institute for Development (PAID) in Buea, Cameroon 1990.
• Dr. Akinola was an Edward S. Mason Fellow at the Harvard Kennedy School of Government and, subsequently, a Fellow at the Harvard Weatherhead Centre for International Affairs (WCFIA). His work focused on Innovation for Economic Development and Governance between 2009 and 2011.
• He is currently a member of the Harvard Kennedy School of Government Dean’s Council.
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