Headlines
Akpabio Lied, No State Received N30bn from FIRS – Makinde
- /home/rhoncare/pointblank.ng/wp-content/plugins/mvp-social-buttons/mvp-social-buttons.php on line 27
https://pointblank.ng/wp-content/uploads/2024/02/Seyi-Makinde.png&description=Akpabio Lied, No State Received N30bn from FIRS – Makinde', 'pinterestShare', 'width=750,height=350'); return false;" title="Pin This Post">
- Share
- Tweet /home/rhoncare/pointblank.ng/wp-content/plugins/mvp-social-buttons/mvp-social-buttons.php on line 69
https://pointblank.ng/wp-content/uploads/2024/02/Seyi-Makinde.png&description=Akpabio Lied, No State Received N30bn from FIRS – Makinde', 'pinterestShare', 'width=750,height=350'); return false;" title="Pin This Post">
Oyo State Governor and Vice Chairman of the Nigerian Governors’ Forum, Seyi Makinde, on Thursday, declared that there was no truth in the claim by the Senate President, Godswill Akpabio, that states of the federation got an additional N30 billion each outside of their statutory revenue allocations, to address food insecurity in their states.
A statement by his Chief Press Secretary, Suleiman Olarenwaju in Ibadan, the state capital, said the state has not received any N30 billion from the Federal Inland Revenue Service or the Federal Government, and that his administration has been and will always be open and transparent to the people of the state.
The Governor, who added that he has been doing everything to cushion the effects of the economic hardship on the people, warned that leaders should instill confidence and hope in the citizenry in this trying time rather than playing the blame game.
Makinde stated this in Iseyin where he commissioned the newly-renovated multi-billion naira Iseyin Central Mosque facilitated by a legal icon, Ahmed Raji, SAN, hailing the religious harmony in the state as being exemplary.
The Governor decried Akpabio’s reliance on unverified reports, clarifying that states couldn’t get funds from the FIRS, since all revenues go into the Federation Account and belong to the FG, states and local governments.
“The only fund that Oyo State got from the Federal Government outside of statutory allocation was N2 billion out of the N5 billion promised to all states in the wake of the removal of fuel subsidy, adding that the Federal Government had even been asking for the refund of the N2 billion,” he stated.
Makinde added that his government has been doing its best to mitigate the hardship on residents of the state, having been the first to announce and implement measures to cushion the effect of the hardship through the Sustainable Action for Economic Recovery.
He said, “This is a very difficult period in our nation’s history because all of us are aware of what we are going through economically. But for us as an administration, I can say we are the first in Nigeria to announce and implement measures on the 9th of June 2023, to cushion the effect of this policy through SAFER.
“We have been doing our bit. And the reason I came here is for us to talk to ourselves and intensify prayers. So, this is one of the edifices through which we can reach God, though we have done our bit. We have health insurance for our own people, we give farm inputs to our farmers but, at this stage, we need to cry to God.
“For the workers, we have been paying a wage award; N25,000 for workers and N15,000 for pensioners, and we have paid for close to six months. Only last week, I announced an extension for another six months so that we can have the time to conclude the discussion on minimum wage. Well, we know there is much to be done and we will continue to do everything within our power to support our people through this hard time.”
Makinde cautioned that “this is not the time to play politics, as we have real issues that deserve real solutions. But yesterday, I saw the video and read in the news where the Senate President, Senator Godswill Akpabio, made a statement, though he said it was an unverified report, stating that the state governments received an additional N30 billion from the Federal Inland Revenue Service, FIRS, outside of our statutory allocation, in the last few months, to address food security.”
The Governor added, “Please, listen to me loud and clear. I can speak for Oyo State and can also speak for any of my colleagues. This is because, as the Vice Chairman of the Nigeria Governors’ Forum, I know when things are happening.
“If I want to play politics, I will keep quiet and let this slide, but I am not going to let this slide. FIRS cannot give money to any state. It is not possible. All revenues accruing to the country go into the federation account and it is distributed to all tiers of government. The FG does not give states money. The money in the federation belongs to all of us; it does not only belong to the Federal Government.
“So, if the Senate President, who is the number three citizen in this country, could be quoting an unverified report, people are looking at us as leaders. This is the period that we are supposed to give confidence to our people. It is not the period to start playing politics or to start looking for scapegoats.”
“We need to engage with our people. If our policies are not working, we need to listen to the people and amend them. So, if the number three citizen had nothing but an unverified report, why did he need to say it? Does his statement give confidence to the people or solve the problem of hunger and anger in the land?” he queried.
“Let me say it clearly, as for Oyo State and for most of my colleagues, there is nothing like N30 billion being given to states for food security and I stand to be challenged.
“Yes, the Federal Government promised the states N5 billion and out of that, it only gave N2 billion and they are even asking that the N2 billion should be refunded right now.
“It is the responsibility of the Federal Government to manage the fiscal situation in Nigeria and manage the inflationary trend we have in the country right now.
“We have been transparent about everything we are doing here and this is the time for us to stay together as a nation to solve the problems we are facing. It is not the time to engage in blame games and propaganda. Hunger and anger are real and, as leaders, we must address them.”
Also speaking, the Sultan of Sokoto, Sa’ad Abubakar, appreciated Makinde for attending the event and for speaking passionately as expected of leaders, saying the state governor is on the right track.
Earlier, the facilitator of the Iseyin Central Mosque renovation project, Raji, appreciated the governor for his presence, urging citizens of the country to continue to pray for its leaders and to pray to God to lessen the burden of the people.
The Punch
Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has denied saying the Federal government will introduce a fuel tax when the economy stabilises and income levels improve.
In a post on X on Tuesday, Oyedele said his remarks during an interview with ARISE News was misrepresented, insisting that a “fuel tax is not on the table.”
However, during the interview with Rotus Odiri, ARISE News Business Correspondent, on the sidelines of the 2026 International Monetary Fund and World Bank annual meetings in Bangkok, Thailand, Oyedele said the tax would come when income levels improve enough for Nigerians to accommodate it.
He said taxes account for between 20 and 80 percent of pump prices in some countries, while many African countries impose between six and 10 different taxes on fuel products.
He said introducing fuel tax while petrol was still subsidised would have been counterproductive because government would effectively be paying the tax itself.
According to him, imposing the tax immediately after removal of petrol subsidy would be insensitive to Nigerians.
“The objective should be that instead of trying to suppress prices, which hasn’t worked for us, it hasn’t worked for any country in the world, not one. Instead of trying to suppress prices, think about how to grow income faster than prices rise,” Oyedele said.
“That’s how you bring prosperity and grow the middle class and that is exactly what we are doing as led by Mr. President himself.
“At the appropriate time, when the economy has stabilizes and income level will be able to accommodate it, those taxes will come. Not because we want to impose taxes,” he added.
In his Tuesday post, the minister reiterated that introducing a fuel tax at this time would be insensitive following removal of petrol subsidy, describing reports that government will introduce the levy when the economy stabilises as “fake news.”
A chieftain of the African Democratic Congress (ADC), and Deputy Director of the Presidential Campaign Council, Chief Dele Momodu, has described former Vice-President Atiku Abubakar as the most nationally formidable and experienced among the leading contenders for the 2027 presidential election.
Momodu said Atiku’s experience at the national level distinguishes him from President Bola Tinubu and former Anambra State Governor, Peter Obi.
He stated this on Wednesday during an interview on Eagle 102.5 FM, Ilese-Ijebu, in Abeokuta.
“If you look at the antecedents of the three major candidates, between Atiku Abubakar and Peter Obi, you will see that Atiku is the most experienced. He has managed our country at the highest level,” he said.
Momodu traced Atiku’s political journey to the 1992 Social Democratic Party (SDP), presidential primary where he contested against late MKO Abiola and stepped down for him.
He said Atiku accepted the outcome without crisis even after he was not picked as Abiola’s running mate, describing it as a mark of true democratic temperament.
“He is the only one who started from around 1992, contested the SDP primary against Abiola and stepped down with uncommon equanimity. He did not make any noise,” Momodu said.
He noted that Atiku was among the founders of the Peoples Democratic Party, PDP, and served as Vice-President from 1999 to 2007.
Comparing Atiku with Obi, Momodu argued that while Obi’s best was demonstrated in Anambra, Atiku’s was at the presidency level managing the national economy.
“Peter Obi has tried his best in Anambra, while Atiku’s best is at the level of vice president controlling the economy of Nigeria. The difference is clear. He has matured in experience and exposure,” he said.
Momodu also said President Tinubu’s experience was largely limited to Lagos.
“What I’m trying to say is that Tinubu’s experience was limited to Lagos, and that is why when he became president, he thought Nigeria was Lagos. And he has found out now that Nigeria is not Lagos,” he said.
He argued that the current economic hardship under the present administration did not show prosperity, insisting Atiku remained better positioned to lead the country.
“Well, we are yet to see that prosperity, and if yesterday would determine today and tomorrow, it is obvious that Tinubu should retire now and let someone else do it,” Momodu added.
DailyPost
President Bola Tinubu says he has no regrets over the removal of petrol subsidy and other economic reforms introduced by his administration, insisting that Nigeria could not borrow its way to greatness.
Meanwhile, Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has warned Nigerians against returning to petrol subsidy. He said the backtrack could trigger capital flight, undermining investor confidence and pushing the Naira to N3,000, N3,500 or even N4,000 per dollar.
But the Director of Media and Publicity of the African Democratic Congress (ADC) Presidential Campaign Council (PCC), Kola Ologbondiyan, challenged Oyedele to publish the economic model behind his warning that a return to fuel subsidy could push the naira to N4,000 per dollar.
The President spoke on Monday during the City Boys Movement retreat in Abuja, where he charged members of the group to mobilise support for his administration ahead of the 2027 general elections, insisting that the country’s future mattered more than the ambition of any individual candidate.
“No regrets,” Tinubu said, insisting that his administration would not be pushed back from its reform agenda.
He took a swipe at his political opponents, promising to restore the petrol subsidy, saying Nigeria could no longer afford to pay the fuel subsidy, and warning that reversing the policy would take the country back to an unsustainable economic path.
Defending his decision to remove the subsidy on his first day in office, Tinubu said the country was on the verge of financial collapse and could no longer afford the policy’s cost.
Tinubu also sought to reassure Nigerians about the direction of the economy, arguing that growth was steady and that the sacrifices associated with his reforms would ultimately offer citizens a future worth believing in.
Oyedele disclosed during a press briefing of the International Monetary Fund (IMF) and World Bank Annual Meetings in Bangkok, Thailand, yesterday, that investors had repeatedly questioned whether the government would abandon its reforms ahead of the next election cycle.
Ruling out the reversal of the government’s economic reforms, he maintained that any signal that Tinubu’s administration was contemplating or reinstating the subsidy would immediately affect financial markets, raise borrowing costs and worsen economic pressures on households.
“In all the meetings I have had, I came to a conclusion that the markets, including the domestic market, which you can read from the capital market, and the international market, have largely written off the opposition in Nigeria as unserious.
“If, for any reason, the President were to say we are merely considering the return of fuel subsidy, capital would react immediately, airfares would struggle, the naira would come under severe pressure, potentially moving towards 3,000, 3,500 or even 4,000.
The very fuel people want subsidised would become far more expensive in Naira terms,” Oyedele warned.
However, Ologbondiyan accused the Federal government of using fear to discourage debate on fuel subsidy, insisting that Nigerians deserve evidence, not alarming projections, on the potential economic consequences of restoring the policy.
Speaking to journalists, he described the minister’s warning as scaremongering and demanded that the government explain how it arrived at the projected exchange rate.
“The Minister of Finance is merely scaremongering. He cannot claim that a return to fuel subsidy will cause the naira to depreciate to N4,000 to the dollar without showing Nigerians the model behind that projection,” he said.
He questioned the reliance on investors’ concerns to oppose a subsidy’s return, challenging the government to identify the sources of the projections and disclose their calculations.
