Economy
Alor monarch congratulates newly elected youth President-General, Okezie Akubueze
The traditional ruler of Alor Kingdom, Igwe Mac-Anthony Elibe Okonkwo, has congratulated the newly elected
Alor Youth President-General, Comrade Okezie Akubueze.
Comrade Akubueze was elected as the youth President-General of Alor, a community in Idemili South Local Government Area of Anambra State at the weekend.
Speaking through a statement made available to CAPITAL POST on Sunday, the traditional ruler described the newly elected youth leader’s victory as a triumph for the community.
The statement revealed that Igwe Okonkwo made these remarks when the newly elected youth PG and other executives paid a thank-you visit to his palace just a few hours after their victory.
He emphasized that the election victory is a vindication against the deceptive propaganda spread by Alor’s adversaries, who claimed he could not secure even 1% of the votes in a free and fair election. Today’s electoral success, Igwe Okonkwo noted, disproves all these fallacies.
On his part the President General of Alor People’s Convention Chief Emma Ojukwu said, ”This is to congratulate all the Youths of Alor who were elected today into various offices of the Youths Executive, especially the new Alor Youths Leader.
“On behalf of Alor people, I appreciate the peaceful conduct the Youths of Alor displayed today. I am SUPER proud of you guys. Also, I want to use this medium to thank the members of the Electoral Committee, particularly the Permanent Secretary~ (PS), Ministry of Youths Development, for the professionalism he brought to bear in this election.
“This is a win-win for Alor, and a call for duty for the youths to assist the parent body, the Alor People’s Convention in the development of Alor”.
In his reaction, Honorable Ossy Missilo Obiagwu, former Deputy General Manager of the Nigerian Civil Aviation Authority (NCAA) and Special Assistant (Special Duties) to the Minister of Aviation, and a staunch supporter of Igwe Okonkwo, said: “The so-called 5%, the dot, the minority, the ‘blind, deaf, and dumb,’ those accused of ‘destroying Alor’ and ‘seeking stomach infrastructure’ have today defeated the ‘100%, the majority, the rich and mighty, the knowledgeable, the educated and learned, the shakers of society’ by 9 goals to nothing. I told them that the claims were unverifiable, and today I have been vindicated. The youths have spoken.”
He continued, “Out of the nine elective positions, from the Youth PG to the Welfare Officer, we won all in a landslide victory. The sweetest part of the victory is that the Electoral Committee used Option A4 to conduct the election, and the youths were bold to queue up behind their chosen candidates in full view of the propagandists, oppressors, and proponents of divide-and-rule tactics. The election was peaceful, credible, free, and fair. To God be all the glory.”
Chief Ossy Agbazue (Mmiri Alor), who represented the Igwe at the Saint Mary’s Field venue of the historic election, stated that the victory is Alor’s victory, emphasizing that it is Alor that has won. He also advised the youth PG to ensure peace returns to the town by checking the excesses of the parent body and ensuring that the right thing is always done. He urged all Alor indigenes to allow peace to reign in their beloved town.
Those who accompanied Chief Agbazue to the venue included High Chief Chukwuemeka Ikegwuogu (Agujiegbe )Ichie Enyi n’Alor, High Chief Barry Ezukwu (Iyierioba Idemili), a member of Igwe Okonkwo’s cabinet, Chief Okechukwu Izugha (Ozo Ezeomeogo), and Honorable Chief Chuka Uzodike, the Alor Development Union Lagos vice chairman.
Chief Chuka Uzodike, the Alor Development Union Lagos vice chairman said, “Today we have been vindicated. I believe that the power of the youths will help Alor to regain her pride of place in the state and in Nigeria as a whole.”
Engr. Prince Ifedi Okonkwo, a consultant with the World Bank and Delta State government, celebrated the victory, stating, “What has just happened in ALOR is a REVOLUTION for Positive Change, and I commend the YOUTHS of ALOR for being the Catalysts for the much-desired Peace & Progress of ALOR!!”
“The Good People of ALOR remain grateful to the Electoral Committee for courageously adopting Option A4 and diligently upholding transparency and fairness in the process to achieve an indisputable outcome. INEC needs to visit ALOR for Capacity Building”.
The ALOR youth election took place on Saturday, July 13, 2024, at St. Mary’s Parish Field with a remarkable turnout of young individuals eager to exercise their democratic rights. The election saw a total of six hundred (600) youths cast their votes for their preferred candidates across nine positions.
In his reaction, the newly elected PG declared that his victory marked the end of the divisive rhetoric of 95% against 5%, stressing that henceforth, no one should consider themselves more Alor than another, as all residents are united as Ndi-Alor.
He promised to run an open and transparent administration, committed to fulfilling his campaign promises of closing divides and bringing unity, love, and empowerment to every Alorite, especially the youths.
Other elected officials along with the Youth PG include:
Chukwudi Okoye, Vice President
Ubabunike Emecheta, Secretary
Oyudo Chijioke, Assistant Secretary
Nweke Anayo, Treasurer
Okoye Nonso, Publicity Secretary
Nwolisa Chimezie, Financial Secretary
Ojukwu Ikechukwu, Welfare Officer
Afuzo Kenechukwu, Provost.
Also, Rev. Innocent Chukwudi Peace, a media consultant and a member of the Alor Peace and Reconciliation Committee said, “The victory in this election is more than just a political triumph; it is a significant milestone for the entire Alor community. It symbolizes a renewed hope and a unified vision for the future. The overwhelming support for Conrad Okezie Akubueze and his team demonstrates the collective desire of the youth to actively participate in shaping their community’s destiny.”
“This election has shown that the voices of the youth are powerful and pivotal in driving change. With the newly elected leadership, there is a strong expectation that Alor will experience increased peace, progress, and unity. The commitment of the youth to uphold transparency and fairness sets a positive precedent for future elections and governance.
“Overall, this election victory heralds a new era for Alor, where collaboration and collective effort will pave the way for sustainable development and prosperity. It is a testament to the strength and resilience of the Alor people and their unwavering dedication to building a better future for their community”, he added.
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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