Economy
Dwindling economy: Self Made Movement says APC is a ‘scam’, PDP handles economy better
The convener of Self Made Movement, Saheed Keshinro popularly known as Africa said the Peoples Democratic Party (PDP) handled the economy better than the All Progressives Congress (APC).
Keshinro, who made this remark in a statement made available to journalists decried the downward economic situation of the nation under the Muhammadu Buhari-led APC.
He said: “In six years in power, there is no single original idea of note that has emanated from the APC. What it has been doing is to claim PDP’s ideas as its own. APC claims credit for the Treasury Single Account (TSA) when in fact, it is of PDP inspiration. It claims credit for the turn-around maintenance of our refineries, when it is in fact a Jonathan/PDP legacy.
“APC claims credit for the rehabilitation of rail lines in Nigeria, but the truth is that this was essentially a PDP initiative. It claimed that PDP stole the money earmarked for buying weapons to fight Boko Haram, and then went ahead to use the same weapons it said were non-existent to equip the army to fight Boko Haram. Former Nigerian Electricity Regulatory Commission (NERC) Chairman, Sam Amadi, stressed that improvements in power supply are the result of the efforts made by the Jonathan administration.”
“If we are now celebrating the end of polio in Nigeria, it has nothing to do with the APC and everything to do with the PDP. If we are indeed well on our way to self-sufficiency in rice production, it is because of the activities of the PDP, and not because of the inactivity of APC. In six years, APC has added precious little to PDP’s achievements. On the contrary, it has reduced many of the milestone achievement to nothing.”
“Our international reputation is winding down; Bill Gates hailed Nigeria’s fight against polio under Jonathan and the PDP as one of the great world achievements of 2014. However, the same Bill Gates identifies Nigeria under Buhari and the APC as one of the most dangerous places in the world to give birth, with the fourth worst maternal mortality rate in the old. He also identified the government’s economic policy as dismally ineffectual.”
“Indeed, everything under this APC government has gone from bad to worse. The economy is worse. The cost of living is worse. The security situation is worse. The naira is worse. The unity of Nigerians is worse. The corruption index is worse. The electricity situation is worse. The ministers in the presidential cabinet are worse. The liberty of Nigerians is worse. The rule of law is worse. The political climate is toxic. The Nigerian economy is worse.
“We are not just witnessing an incompetent government. We are saddled with one that merely watches while we are being murdered in our homes, farms and churches. We are saddled with a government that tells us the choice we have is either to lose our land to Fulani headers or lose our lives. A government that defines itself as a northern government, instead of a national government; and has all its security architecture in the hands of northerners.”
“In 16 years in power, the PDP not only cleared Nigeria’s debts of some $30 billion, it borrowed a total of N6 trillion or a little higher. However, in just six years, the APC has returned Nigeria to the debtor status and borrowed a whopping N36 trillion and still borrowing.
“The APC is the party that boasts of integrity but lacks integrity. This ensures it embarrasses itself with one scandal after the other. From the Babachir Lawal’s ‘grasscutter’ scandal, Abdulrashid Maina’s pension and recall scam, the NHIS scandal, the EFCC Chairman Ibrahim Magu’s scandal, Kemi Adeosun NYSC certificate forgery scandal, Abba Kyari super cop scandal. The APC fails to act against corruption while nevertheless fooling itself that it is a champion of the anti-corruption struggle. They re-loot the entire looted recovered fund at every giving opportunity in guise of trader money with proper account and statistical documentation.”
“Unlike the proverbial charity, APC’s anti-corruption war does not begin at home in the APC. The party encourages and molly-cuddles the corrupt. Indeed, it has an open-door policy for the corrupt. Once you are in APC or you decamp to APC, you are automatically whitewashed from allegations of corruption.
“Once you have corruption allegations to answer before the Economic and Financial Crimes Commission (EFCC), all you need to do is defect to the APC and you will be welcome with open arms. Your corruption case will also suddenly disappear. This is the case with Godswill Akpabio, Femi Fani Kayode, and Stella Oduah. Who had a pending case of corruption with the EFCC but has now quickly defected from the PDP to the APC.”
“The anti-corruption struggle for the APC is in declaring Rotimi Amaechi innocent until proven guilty, while proclaiming Diezani Allison-Madueke guilty until proven innocent. PDP is a national party. As a matter of fact, it remains the only national party in Nigeria, Its membership and strength stretch from North to South and East to West.
Not so the APC. The APC is a sectarian party. It is an agglomeration of regional parties that merged together for the sake of capturing the presidency. Once this happened, their sectarianism came back to the fore.”
“On his inauguration, the president told Nigerians: “I belong to everybody and I belong to nobody.” However, the APC has turned out to be essentially a North-West and South-West party in the first term and got worse during the second term and has effectively divided Nigeria along regional lines. On his election, the president went to the U.S. where he declared that: “The constituents (that) gave me 97 per cent cannot in all honesty be treated on some issues with constituencies that gave me 5 per cent.”
That means the president can largely overlook the South-East and the South-South in appointments. It also means Fulani herdsmen from the North can continue to kill innocent farmers all over the country, while government sees no evil and hears no evil.”
“Nevertheless, we cannot insist APC did not bring change. It brought change but it was change that pauperised Nigeria. APC brought change from peace to restiveness; it brought change from gainful employment to job insecurity and massive unemployment; it brought change from national unity to sectarianism; it brought change from good health to medical check-ups; it brought change from life to death by herdsmen.”
“It brought change from $1 exchanging for N190 to $1 exchanging for N570; it brought change from N87 fuel to N145 fuel; it brought change from 20 tomatoes selling for N50 to one tomato selling for N100; it brought change from hope to despair; it brought change from light to darkness.
“APC is cancerous in nature and can’t be compared to PDP with just malaria that is curable. PDP remain better managers compared to the present misrule and misgoverned by the clueless and visionless leadership of the APC led government.
A total sum of N1.678 trillion, being February 2025 Federation Account Revenue, has been shared to the Federal Government, States and the Local Government Councils.
The revenue was shared at the March 2025 Federation Account Allocation Committee (FAAC) meeting held in Abuja; chaired by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun.
The meeting was attended by the Accountant General of the Federation, Shamseldeen Ogunjimi.
The total distributable revenue of N1.678 trillion comprised distributable statutory revenue of N827.633 billion, distributable Value Added Tax (VAT) revenue of N 609.430 billion, Electronic Money Transfer Levy (EMTL) revenue of N35.171 billion, Solid Minerals revenue of N28.218 billion and Augmentation of N178 billion.
According to a communiqué issued by the Federation Account Allocation Committee (FAAC), total gross revenue of N2.344 trillion was available in the month of February 2025. Total deduction for cost of collection was N89.092 billion while total transfers, interventions, refunds and savings was N577.097 billion.
The communiqué stated that gross statutory revenue of N1.653 trillion was received for the month of February 2025. This was lower than the sum of N1.848 trillion received in the month of January 2025 by N194.664 billion.
Gross revenue of N654.456 billion was available from the Value Added Tax (VAT) in February 2025. This was lower than the N771.886 billion available in the month of January 2025 by N117.430 billion.
The communiqué stated that from the total distributable revenue of N1.678 trillion, the Federal Government received total sum of N569.656 billion and the State Governments received total sum of N562.195 billion.
The Local Government Councils received total sum of N410.559 billion and a total sum of N136.042 billion (13% of mineral revenue) was shared to the benefiting States as derivation revenue.
On the N827.633 billion distributable statutory revenue, the communiqué stated that the Federal Government received N366.262 billion and the State Governments received N185.773 billion.
The Local Government Councils received N143.223 billion and the sum of N132.374 billion (13% of mineral revenue) was shared to the benefiting States as derivation revenue.
From the N609.430 billion distributable Value Added Tax (VAT) revenue, the Federal Government received N91.415 billion, the State Governments received N304.715 billion and the Local Government Councils received N213.301 billion.
A total sum of N5.276 billion was received by the Federal Government from the N35.171 billion Electronic Money Transfer Levy (EMTL). The State Governments received N17.585 billion and the Local Government Councils received N12.310 billion.
From the N28.218 billion Solid Minerals revenue, the Federal Government received N12.933 billion and the State Governments received N6.560 billion.
The Local Government Councils received N5.057 billion and a total sum of N3.668 billion (13% of mineral revenue) was shared to the benefiting States as derivation revenue.
The Augmentation of N178 billion was shared as follows: Federal Government received N93.770 billion, the State Governments received N47.562 billion and the Local Government Councils received N36.668 billion.
In February 2025, Oil and Gas Royalty and Electronic Money Transfer Levy (EMTL), increased significantly while Value Added Tax (VAT), Petroleum Profit Tax (PPT), Companies Income Tax (CIT), Excise Duty, Import Duty and CET Levies recorded decreases.
Economy
Protesters urge president Tinubu to protect Diaspora housing investments along Lagos-Calabar coastal highway
A group under the aegis of Renewed Hope Concern Citizens (RHCC) on Friday staged a peaceful protest, calling for President Bola Tinubu’s intervention in protecting housing investments owned by Nigerians in the diaspora along the Lagos-Calabar coastal highway.
The protesters gathered in front of the United States Embassy in Abuja, carrying banners with inscriptions such as; Minister of Works, Senator Umahi should revert to the original gazetted alignment as promised. Enough is Enough; Association of Nigerian Diaspora Investors (ANDI) has cried enough, please intervene to save their energy to promote, support, and assist the Renewed Hope Administration; Renewed Hope Concern Citizens want Diaspora Investments to be protected and given adequate attention among others
“As committed stakeholders in the nation’s economic progress, we have consistently supported the government’s vision, particularly in revitalizing Nigeria’s infrastructure and energy sector. While we acknowledge the administration’s positive strides, recent developments have raised concerns about the misalignment of energy policies, particularly regarding the 2006 Gazetted alignment.
“We urgently call on the Minister of Works, Senator David Umahi, to restore the 2006 Gazetted alignment to ensure continued growth and stability in Nigeria’s energy sector,” said Hon. Tayo Agbaje, Chairman of RHCC, while addressing journalists.
The group refuted the Minister’s claim that an underground cable warranted the removal of structures in Okun Ajah, Lagos and outlined several reasons why President Tinubu’s intervention is crucial.
According to them, The 2006 Gazetted alignment has long provided a stable and predictable framework, essential for maintaining investor confidence in Nigeria’s energy sector.
“Diaspora investors contribute significantly to job creation, business growth, and the overall economy, making their protection vital to sustaining these contributions.
“The President should investigate the Minister of Works’ claim about the underground cable allegedly interfering with the 2006 Gazetted plan.
“Restoring the alignment will reinforce Nigeria’s commitment to a stable investment climate, boosting foreign investor confidence and attracting much-needed capital for infrastructure development.
“Deviating from established policies creates uncertainty, undermining both current and future foreign investments.
“Maintaining the 2006 Gazetted alignment will signal Nigeria’s dedication to long-term economic stability, further reassuring both local and international investors,” the group stated.
The RHCC reaffirmed its support for the Association of Nigeria in Diaspora Investments (ANDI) in its quest to uphold the 2006 Gazetted alignment plan of the Lagos-Calabar Coastal Highway.
They urged the government to act swiftly to protect diaspora investors, as this will strengthen Nigeria’s investment future and ensure continued economic success under the Renewed Hope Administration.
Economy
Ogunjimi promises to collaborate with ex-Accountants-General in taking treasury house to greater heights
The newly appointed Accountant General
of the Federation, Mr Shamseldeen B. Ogunjimi said he would collaborate and tap from the wealth of experiences of all Former Accountants -General of the Federation to bring the nation treasury to a greater height.
Mr Ogunjimi disclosed this while receiving two Former Accountants-General of the Federation, Dr John Naiyeju and Dr Ibrahim Dankwambo in his office in Abuja.
Speaking earlier, Senator Ibrahim Dankwambo suggested the upgrading of the Treasury Academy, Orozo owned by the Office of the Accountant-General of the Federation (OAGF) to a Degree (University) awarding Institute.
Also, Dr. John K. Naiyeju charged the new Accountant-General to carry along everyone and advised him to make staff welfare his priority.
In a related development, the Accountant-General of the Federation expressed his willingness to work with all professional organisation that will bring positive development to the nation, especially, his professional and Academy colleagues of the doctorate class.
Mr Ogunjimi called on his classmates to come up with ideas and suggestions that will enhance the management of the nation’s treasury that will positively affect the economy development.
In his remarks, the Chairman Forum of Doctorate Students, Ibrahim Aliyu said that they were in Treasury House to congratulate one of their own and assured him of their support towards his successful tenure.
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