Connect with us

news

“Fuel Subsidy Under-Recovery Fund”Senate

Published

on

Drama in Senate over $3.8bn subsidy fund

There was mild drama on Tuesday in the Senate over the management of over $3.8 billion fuel subsidy fund by the Nigeria National Petroleum Corporation (NNPC).

Senators were at each others throat following accusations and counter accusations of alleged compromise in their line of duty.

There was also allegation of subterranean plot to source campaign funds from the oil behemoth.

Senate Minority Leader, Senator Biodun Olujimi, sparked the controversy when she raised the alarm over alleged mismanagement of huge subsidy fund.

Olujimi (Ekiti South) told her colleagues that it was dangerous to allow just two people in NNPC, the Group Managing Director (GMD) and  the Executive Director in charge of Finance, as the sole controllers of huge subsidy fund.

The fund, she said, has been curiously renamed “Fuel Subsidy Under-Recovery Fund” for a purpose that has not been explained to Nigerians.

She recalled that NNPC has been severally requested to submit subsidy budget to the National Assembly for consideration and approval.

A request, the lawmaker said, has been resisted by the NNPC without reason.

She insisted that the Senate cannot sit by and allow only two people to continue to manage over $3 billion oil subsidy funds.

Olujimi who came under a point of order, reminded the upper chamber that attempts to compel NNPC leadership to do what is right by submitting a budget to the National Assembly on subsidy payment, has failed.

The amount involved, she reiterated, was “too huge for only two people to control and manage without appropriation.”

Olujimi said, “I need to bring this issue to the attention of the Senate. The NNPC is operating an illegal fund on subsidy. As a Senate, we are the true representatives of the people. We cannot sit back and allow this to continue to happen.

“I am bringing this to the attention of the Senate so that we can look at the issue. Let the various committees, especially the Senate Committee on Petroleum (Downstream), look into this issue. Let them investigate and tell us what the position on ground is.”

She prayed the Senate to mandate its committee on petroleum (downstream) to cause the NNPC to come before the senate to explain what has happened to the fund and the new terminology formulated to manage the fund.

Senate President, Bukola Saraki, agreed.

Saraki asked Senate Leader, Ahmed Lawan and chairman, Petroleum Committee (downstream) Senator Kabiru Marafa to inter face with those involved and report back to the Senate within four days.

He said that “the issue is too serious and the money involved too huge to be left just like that.”

Saraki said: “When we passed the budget, I said the executive needed to bring subsidy budget. In the light of the enormity of this, we will direct the Leader and chairman of Downstream to summon those in charge. They need to get back to us in four days. I don’t want this issue to be partisan. I want us to speak on the basis of fact. I don’t want us to take up this issue and people will begin to see it as a partisan issue.”

Some Senators were however not comfortable with the inclusion of the committee on Petroleum as part of those to investigate the matter.

Senator Mohammed Ali Ndume suggested that since committee on Petroleum has oversight function over NNPC, it should be left out of the probe.

The Borno South Senator re-echoed what Senator Buka Abba Ibrahim murmured that the Petroleum Committee might have compromised on the issue.

Apparently for emphasis, Ndume said that his proposal that the Petroleum Committee should not be part of the investigation stemmed from the insinuation by Ibrahim that the Petroleum committee might have compromised in the course of its oversight duty.

He said, “Issues like this should be looked at seriously. When these things happen, the committee should know. I suggest that the Leader and other people who are not members of the committee should look at this. The committee may have compromised. We should set up an ad-hoc committee to look into the issue.”

Marafa felt injured by the comment that members of his committee might have been comprised by officials of the NNPC.

The Zamfara central lawmaker said that he would not be bothered if his committee was disbanded.

He said that it would not be out of place to say that those proposing the setting up of ad-hoc committee in place of a standing committee have other motives.

 He did not stop there. Marafa said that those behind the proposal for ad-hoc committee were actually gunning to generate campaign funds ahead of the elections in 2019.

There was uproar on the floor. Many senators attempted to shout him down. He persisted.

Marafa said that Ndume must also asked to withdraw his statement that members of his committee have been compromised.

He said that Ndume must not only stop at withdrawing the statement but also tender an apology to them.

He said, “I feel insulted. f the Selection Committee agrees today to dissolve our committee, I will not have any problem with that. They have the right to do that. But for anyone to just accuse us that we have been compromised, I think it is an insult.

“I know that those advocating that an ad-hoc committee be set up to investigate the issue are out to generate campaign funds for their election next year. They are free to do so. I will not stop them. But no one should malign us and accuse us of compromise.”

Saraki attempted to restrain Marafa.

Marafa refused to apologize.

He insisted that Ndume must first tender unreserved apology and withdraw his statement.

Sensing total break down of law and order in the chamber, Ndume told his colleagues that Buka Ibrahim had given him the authority to apogise and withdrew his statement.

Marafa followed and withdrew his statement. He also apologised to his colleagues for what many considered a sweeping statement.

The matter did not end there as the Senate Leader protested Marafa’s statement.

He declined to serve in the yet to be constituted committee.

Lawan said that he was declining his nomination to head the probe team to protect his integrity.

Although he did not mention Marafa, Lawan said that it took him several years to build his integrity and reputation and will not want anybody to soil his name.

Saraki and his deputy, Ike Ekweremadu, requested Lawan to reconsider his decision.

The Senate President said that the Senate cannot afford to handle the issue haphazardly.

 He said that “the country cannot be running a subsidy fund of $3.8 billion without knowing who is doing what.”

Continue Reading
Click to comment

Leave a Reply

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

news

NRC Boosts Workforce Development with Graduation of 86 Technical Trainees

Published

on

Dr Kayode Opeifa, presenting certificate to the best student Class of 2025, Taiwo Olamide

No fewer than 86 trainees have graduated from the Railway Technical Institute (RTI), Ebute-Metta, Lagos, after completing their technical and vocational training under the collaborative skills acquisition programme between the Nigerian Railway Corporation (NRC) and the National Directorate of Employment (NDE).

Describing the ceremony as a reflection of the Corporation’s strong commitment to youth empowerment, workforce development, and nation-building, the NRC Managing Director assured the graduands of employment opportunities. He noted that they had received intensive hands-on training required to thrive in today’s competitive labour market.

He highlighted the institute’s rich legacy, stating that since its establishment in 1924, it has remained a critical hub for developing technical manpower in Nigeria. For over a century, the RTI has trained artisans, technicians, and skilled personnel in railway operations, mechanical systems, and related technical fields.

“Today, we celebrate 86 graduands who have successfully completed rigorous training in various disciplines, including electrical installation and maintenance, electronics engineering, welding and fabrication, refrigeration and air-conditioning, and automobile mechanics,” he said.
“Other areas include carpentry and joinery, computer engineering and ICT, fashion design and tailoring, painting and decoration, as well as printing technology.”

The Managing Director reaffirmed the Corporation’s commitment to repositioning the institute into a modern, efficient, and commercially viable rail training centre capable of driving national economic integration, industrial growth, and logistics efficiency.

“We are working with relevant regulatory authorities and stakeholders to reposition the institute through curriculum enhancement, infrastructure upgrades, faculty development, and strategic partnerships with both local and international institutions,” he added.
“Efforts are also ongoing to align our training with global trends in railway technology, energy transition, and transport innovation.”

He urged the graduands to uphold excellence, professionalism, innovation, and integrity as ambassadors of both the institute and the NRC.

In her remarks, the Senior Special Assistant to the President on Technical, Vocational, and Entrepreneurship Education, Dr Abiola Arogundade—represented by the Head of Strategy, Dr Abiola Isikalu—commended the NRC for revitalising the institute. She noted that technical and vocational education remains vital for youth engagement in line with the Renewed Hope Agenda of President Bola Ahmed Tinubu.

Also speaking, the Chairman of the Presidential Initiative on Compressed Natural Gas and Electric Vehicles (Pi-CNG & EV), Barrister Ismaeel Ahmed, congratulated the NRC and RTI on the successful graduation of the 2024 and 2025 sets. He reaffirmed the initiative’s commitment to partnering with the NRC in promoting sustainable energy solutions.

“Our collaboration will continue to focus on advancing natural gas adoption, reducing fuel costs, and promoting cleaner energy, all of which require a highly skilled technical workforce,” he said.

The Vice-Chancellor of Trinity University, Yaba, Professor Clement Olusegun Kolawole, also expressed the institution’s pride in partnering with the NRC and RTI in manpower development and logistics advancement.

Earlier, the Principal of RTI, Mr Kelechi Raphael Nosike, described the graduation as a milestone event for trainees who successfully completed their three-year craft programmes across various disciplines. He noted that the training aligns with the Federal Government’s Renewed Hope Agenda, which prioritises youth empowerment through technical and vocational education.

He also appreciated the NRC management for its commitment to upgrading the institute into a higher institution of learning.

The highlight of the event was the presentation of certificates of excellence to outstanding students, including Master Fadayomi Olamide Andrew, Best Graduating Student (Class of 2024), and Master Taiwo Ayomide, Best Graduating Student (Class of 2025).

Continue Reading

news

Dangote Denies Fallout with Elumelu, Debunks Financial Support Claims

Published

on

The Dangote Group has dismissed as false and malicious claims of a rift between its President, Aliko Dangote, and the Chairman of Heirs Holdings, Tony Elumelu, and also rejected allegations that he (Dangote) solicited support for financing his refinery project.

In a statement issued on Sunday, the group described as “entirely baseless” a publication stating that Dangote had revealed why he distanced himself from Elumelu, stressing that neither the businessman nor the organisation made such remarks.

The statement, signed by the Group Chief Branding and Communications Officer, Anthony Chiejina, said the report misrepresented both personal and corporate positions and added that there was no disagreement between the two prominent business leaders.

“The Dangote Group has become aware of a publication titled ‘Aliko Dangote Speaks Out on Why He Distanced Himself from Tony Elumelu’, which is false, malicious, and baseless. At no time did the President or the Group make such statements or express such sentiments,” the statement read in part.

The company further dismissed claims that the multi-billion-dollar Dangote Petroleum Refinery & Petrochemicals was financed through personal borrowing from friends, describing such assertions as inaccurate and a deliberate misrepresentation of facts.

According to the group, Dangote does not fund projects through informal personal loans, noting that any such claims should be backed by verifiable evidence.

“As a matter of principle, Aliko Dangote neither finances his projects through personal borrowing from friends nor engages in lending arrangements of that nature. Any individual making such claims should provide verifiable evidence to substantiate them,” the statement added.

The group also clarified that there was no strain in the relationship between Dangote and Elumelu, maintaining that both men continue to enjoy a longstanding and cordial relationship despite the claims circulating in the report.

The clarification follows the circulation of a widely shared online post which alleged that Dangote fell out with Elumelu after a failed financial assistance request during the construction of the refinery.

In the post, attributed to Dangote but now disowned by the company, the author claimed that in 2021, when the refinery project was about half-completed, he ran out of funds and approached several business associates for support, including Femi Otedola, Abdulsamad Rabiu, Mike Adenuga, and Elumelu.

The post further alleged that Elumelu promised $20m but later became unreachable, while other associates reportedly raised $500m to support the project, with Otedola said to have contributed $300m.

However, the Dangote Group said such claims were fabricated and should not be attributed to its president, reiterating that the financing narrative presented in the post was false.

Beyond the disputed publication, the company raised concerns over what it described as a growing trend of fabricated statements and the unauthorised use of Dangote’s identity in digitally manipulated content.

It warned that the misuse of his name, likeness, and image in artificial intelligence-generated advertisements and other misleading materials poses reputational risks and could amount to fraud.

“Furthermore, the group notes with concern a rising pattern of fabricated statements and the unauthorised use of Aliko Dangote’s name, likeness, and image in AI-generated advertisements and other misleading content. These actions amount to reputational harm and potential fraud,” the statement said.

The company cautioned individuals, organisations, and platforms involved in creating or disseminating false information to desist immediately, warning that it would not hesitate to pursue legal action where necessary to protect its reputation and that of its leadership.

The Dangote Group reaffirmed its commitment to maintaining high standards of integrity while continuing its industrial and economic contributions across Africa, particularly in advancing self-sufficiency and sustainable development.

Continue Reading

news

Rising Attacks on Abuja–Kaduna Trains Spark Alarm as NRC Seeks Urgent Community Support

Published

on

The Nigerian Railway Corporation (NRC) has raised serious concerns over a growing wave of attacks targeting train operations along the Abuja–Kaduna rail corridor, describing the incidents as dangerous and economically damaging.

In the latest attack, suspected vandals reportedly targeted a moving train around Kilometer 177 on the route, pelting stones at the locomotive and damaging its windscreen. The incident is one of several recorded in recent weeks, highlighting an alarming pattern of hostility along the critical transport corridor.

According to the Corporation, similar acts have occurred in multiple locations, including Gidan Busa and Sarki Gora Village in Kakau District, within Chikun Local Government Area of Kaduna State. In total, more than six attack points have been identified within a two-week span, intensifying operational challenges for railway authorities.

The NRC warned that these repeated attacks pose a direct threat to passengers, railway personnel, and infrastructure. It described the acts as economic sabotage capable of undermining the Federal Government’s heavy investment in rail transport and disrupting a key component of national mobility.

Despite the risks, the Corporation confirmed that train services along the corridor have continued, with heightened safety measures and increased vigilance by railway staff to ensure passenger safety. Management commended security agencies for their ongoing collaboration in protecting railway assets and maintaining order along the routes.

Efforts are currently underway in partnership with security operatives, community leaders, and other stakeholders to strengthen surveillance, identify those responsible, and bring them to justice.

The NRC has also appealed to residents living along railway corridors to play an active role in safeguarding the infrastructure. It urged communities to report suspicious movements and discourage acts of vandalism, warning that continued attacks could disrupt smooth service delivery if not urgently addressed.

Reaffirming its commitment, the Corporation assured Nigerians that it remains focused on providing safe, secure, and efficient rail services nationwide, while intensifying efforts to protect both passengers and critical railway infrastructure.

Continue Reading

Trending

Copyright © 2025 Newsthumb Magazine | All rights reserved