Economy
Be wary of saboteurs trying to ruin the country’s economy – Tompolo
Chief Government Oweizide Ekpemupolo aka Tompolo have called on Nigerians to be wary of saboteurs working tirelessly to ruin the nation’s economy.
Tompolo who is also the Chairman, Tantita Security Services Nigeria Limited (TSSNL) made the call when he received the Nigeria Union of Journalists (NUJ) Meritorious Award at Oporoza, headquarters of Gbaramatu Kingdom in Warri South West Local Government Area of Delta State.
Chief Ekpemupolo aka Tompolo said that the country needs all the much needed support to paralyze the activities of greedy persons who are hell bent on sabotaging the nation’s oil and gas.
“Our economy is in dire need of survival, so we cannot fold our hands and allow some people to sabotage the nation’s economy because of greed,” he said.
Presenting the award, Dr Chris Isiguzo, National President of the Nigeria Union of Journalists(NUJ) said that the award was in recognition of Chief Ekpemupolo’s (Tompolo’s) outstanding contributions to the security of oil and gas infrastructure by curtailing oil theft and pipeline vandalism in the Niger Delta.
Chief Isiguzo said that the NUJ arrived at conferring the Meritorious Award on Tompolo at the last NUJ National Conference in Abuja after a meticulous deliberation on his activities and successes in tackling economic sabotage head-on.
He said that Tompolo has set the pace for securing Nigeria from the throes of economic insecurity in the Niger Delta region, he called on the media, other security operatives and agencies, as well as other Nigerians, to rally round him.
Accordng to Dr. Isiguzo, “somebody had risen to the occasion and gathered an array of young men who have taken it upon themselves to help this country continue to survive as a peaceful nation, united and continuing to fend for its people.
“And that is the man who has, to a very large extent, substantially helped us address the issue of crude oil theft.
“That is one thing that has occupied our national life over time. But through his commitment, dedication, and diligence, Nigeria, as a country, had, to a very large extent, reduce the activities of men of the underworld who have consistently engaged in pilfering, taking our common patrimony for their own gains.
“NUJ, having assessed the activities of Tantita Security Services Nigeria Limited (TSSNL), we decided that we must accord the necessary recognition to the man who carries the flag, who birthed this organisation, who has exceptionally distinguished himself, and who has been celebrated by Nigerians across all walks of life.
“NUJ is an institution that is distinguished; when we look at the different realms of governance, we have the First Estate of the Realm, the Second Estate of the Realm, and the Third Estate of the Realm, all talking about the Executive, Legislature, and Judiciary.
“But there is a realm that Nigerians now look up to, the fourth Estate is the Media and if this realm collapses, Nigeria will collapse. This realm, the Media is the oxygen of democratic governance; it is the reason Nigeria is still operating and why we are enjoying peace and harmony.
“Therefore, this important realm has come to Oporoza Community in Gbaramatu Kingdom of Warri South West Local Government Area of Delta State to honour a distinguished son of the Niger Delta, a general in his own right who has distinguished himself and ensures and maintains an appreciable level of internal security.
“We have come to confer on him the Internal Security Meritorious Award of the Nigeria Union of Journalists.
“In the course of the national conference, only one award had been approved, and it is being conferred on Dr. Government Ekpemupolo.”
He enjoined journalists to keep contributing their quota by sharing intelligence with security agencies and operatives in order to engender tranquilly, peace, harmony, and progress in the country.
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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