ActionAid Nigeria Demands Full Remittance of Fuel Subsidy Gains to Federation Account Amid Rising Poverty and Fiscal Crisis

By: Michael Mike

ActionAid Nigeria (AAN) has expressed deep concern over the delay and partial remittance of fuel subsidy removal gains by the Nigerian National Petroleum Company Limited (NNPCL).

This followed revelations contained in the World Bank’s Nigeria Development Update (NDU) titled “Building Momentum for Inclusive Growth, AAN lamented that: “Despite the full removal of petrol subsidies as of October 2024, NNPCL only began transferring revenues to the Federation Account in January 2025 and has, since then, remitted only 50% of the gains.”

AAN in a statement by its Country Director, Andrew Mamedu decried that the withholding of critical national revenue amid worsening economic hardship is unacceptable, noting that the World Bank estimates that these gains should amount to roughly 2.6% of Nigeria’s GDP in 2024 – approximately ₦10 trillion.

AAN stated that withholding half of this revenue from the Federation Account directly undermines the constitutional revenue-sharing framework and denies both the federal and subnational governments vital resources needed to provide basic public services and reduce poverty.

Mamedu said: “At a time when inflation remains high, the cost-of-living crisis has intensified, and over 104 million Nigerians are already living in multidimensional poverty, it is unconscionable that the full benefits of subsidy reform have not been transparently and equitably applied for national development,” warning that unless this fiscal opacity is urgently addressed, the reforms intended to stabilise the economy will only deepen inequality and exclusion.

He said: “We note the World Bank’s commendation of Nigeria’s macroeconomic reforms – including exchange rate unification and tighter monetary policies – but assert that economic stability without inclusive governance and justice for the poor is unsustainable.”

Mamedu said: “Today, ActionAid Nigeria calls for the following urgent actions:

“The President, in his capacity as Minister of Petroleum Resources, must direct the NNPCL to immediately remit the full revenue gains from fuel subsidy removal into the Federation Account, in compliance with the 1999 Constitution and the Petroleum Industry Act 2021. Partial remittance is a violation of constitutional principles and endangers public finance transparency.

“The Federal Ministry of Finance and the Office of the Accountant-General must ensure full transparency in the management and distribution of subsidy savings.A publicly accessible breakdown of allocations and expenditure must be published quarterly to ensure accountability and prevent fiscal leakages.

“The National Assembly must exercise its oversight function by summoning NNPCL leadership for a public hearing and conducting a comprehensive review of arrears, subsidy payments, and remittances.This must be followed by legislative action to prevent recurrence.

“The government must prioritise channelling these revenues toward pro-poor investments – including expanding the national social protection register, improving access to affordable public transport, and supporting local food systems. Without deliberate intervention, the poorest Nigerians will continue to shoulder the cost of reforms they cannot afford.

“The forensic audit of NNPCL, as announced by the Minister of Finance, must be independent, time-bound, and made public upon completion. Nigerians have a right to know how public resources are being managed.

“The Fiscal Responsibility Commission must assert its role in monitoring and reporting breaches of fiscal transparency and revenue remittance. Fuel subsidy savings cannot become another opaque stream of public wealth lost to institutional inefficiency.

“State governments must demand their fair share of the subsidy savings and demonstrate corresponding increases in public investment in education, health, infrastructure, and social welfare. They must also be prepared to sue NNPCL, if full remittances are not made. Furthermore, states must uphold transparency and be accountable in the use of their allocations, ensuring that every naira is directed towards pro-poor programming that delivers tangible benefits to citizens.

“Citizens must actively monitor and track the use of these resources. We urge the public, civil society organisations, community leaders, and the media to hold both federal and state governments accountable. Collective vigilance and civic engagement are essential to prevent corruption and ensure that the gains from subsidy removal translate into improved living conditions for all Nigerians.”

Mamedu reminded all stakeholders that inclusive economic growth cannot be achieved through macroeconomic reforms alone. Nigeria’s aspiration for a $1 trillion economy by 2030 will remain out of reach if fiscal governance continues to neglect the poorest and most vulnerable, insisting that:
“The full and timely transfer of subsidy removal gains is not just a matter of economic reform – it is a test of political will, public trust, and national accountability.”

ActionAid Nigeria Demands Full Remittance of Fuel Subsidy Gains to Federation Account Amid Rising Poverty and Fiscal Crisis

VP Shettima: We’re Building Bridges To Take MSMEs Across Borders Of African Market

• Inaugurates committee on hosting of 4th AU MSME Forum in Abuja

By: Our Reporter

The Vice President, Senator Kashim Shettima, has said the administration of President Bola Ahmed Tinubu has already taken bold steps to construct digital highways and bridges that would carry Micro, Small and Medium Enterprises (MSMEs) across borders into the heart of the African market.

According to him, while over 83 per cent of employment in Africa lies in the informal economy, the continent is not short on ideas and digital innovation that offer an unprecedented window to compete with the rest of the world.

Senator Shettima stated this in Abuja on Monday when he inaugurated the oversight committee recently approved by President Tinubu to organise Nigeria’s hosting of the 4th African Union (AU) Micro, Small and Medium Enterprises (MSME) Forum, scheduled to hold between June 23 and 27 in Abuja.

Listing some of the administration’s policies and programmes in this direction, the Vice President recalled that Nigeria chaired and spearheaded the AfCFTA Negotiating Forum, and has aligned its investment, digital trade, and competition policies with the agreement.

He noted that it is for this reason that Nigeria also established a Technology Export and Digital Trade Desk to support the nation’s entrepreneurs in exporting services and digital goods across Africa.

This, VP Shettima said, the i-DICE Programme, a 617.7 million dollar investment in digital and creative enterprises, and the 3 Million Tech Talent Programme, is set out to achieve by training Nigerian youths in coding, data science, and digital fluency to power the nation’s transformation.

The VP conveyed the assurance of President Bola Tinubu that Nigeria is ready to lead in shaping Africa’s digital trade future, even as the nation is harmonising its laws to make cross-border commerce seamless, secure, and scalable.

“We have reformed. We have invested. And we are resolved to see this transformation through. But none of us can achieve this in isolation. That is why this forum is not just important. It is indispensable. It provides the blueprint, the platform, and the partnerships that will empower African MSMEs to become the heartbeat of our economic renewal,” he said.

Earlier, the Deputy Chief of Staff to the President (Office of the Vice President), Sen. Ibrahim Hadejia, who is chairman of the organising committee, said the forum will provide a veritable platform for exchanging knowledge and ideas on MSME development and facilitate collaboration across the continent.

He said the theme of the summit, which is on “building resilient MSMEs through digital innovation, market access and affordable financing for Africa”, aligns with the efforts of the Tinubu administration in supporting development and growth in the sector.

On his part, the Minister of Information and National Orientation, Alhaji Mohammed Idris Malagi, who is a member of the organising committee, said hosting the 4th edition of the forum by Nigeria underscores growing confidence in Nigeria in the comity of nations.

The forum, he pointed out, reflects the efforts made by the administration of President Bola Ahmed Tinubu in providing a conducive environment for small businesses in the country.

In the same vein, the Minister of State for Industry, Sen. John Enoh, also a committee member, commended the leadership of President Tinubu and Vice President Shettima for prioritising the well-being and growth of small businesses, in acknowledgement of their contributions to the GDP and economic transformation.

He assured that efforts would be put in place to ensure that Nigeria successfully hosts the forum, while small businesses in Nigeria leverage the platform to improve in areas of access to affordable finance and markets, among other benefits.

On his part, the Special Adviser to the President on Job Creation and MSME, Mr Temitola Adekunle-Johnson, who is secretary of the committee, said the team would work collaboratively to deliver a world-class event that reflects the efforts of the Tinubu administration, assuring that the country would be ready ahead of the opening ceremony on June 23 in Abuja.

Also, Lagos State Commissioner for Commerce, Cooperatives, Trade & Investment, Mrs. Folashade Ambrose-Medebem, said the state hosts the largest number of MSMEs in the country, close to 70 per cent, adding that the government has taken steps to ease access to funds for these businesses through a N10 billion fund, the Lagos State – Bank of Industry MSME Access to Finance Scheme (LASMECO).

Apart from Lagos State, Benue, Imo, Enugu, Katsina and Ekiti States are all involved in the sub-committees of the project.

In separate remarks, the Managing Director of the Bank of Industry, Dr Olasupo Olusi; the Executive Chairman of Federal Inland Revenue Service, Mr Zacch Adedeji and the Director General of Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Mr Charles Odii, who are members of the committee, pledged their commitment and support for the hosting of the meeting, noting that the benefits would positively impact local MSMEs and the overall national economy.

Other members of the committee include Ministers of Industry, Trade and Investment, Dr Jumoke Oduwole; Communication, Innovation and Digital Economy, Dr Bosun Tijani; Art, Culture, Tourism and Creative Economy, Barrister Hannatu Musawa; Executive Director of NEPC, Mrs Nonye Ayeni; Executive Secretary, NIPC, Mrs Aisha Rimi; CEO, NEXIM Bank, Mr Abba Bello, and President of NACCIMA, Mr Dele Oye.
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VP Shettima: We’re Building Bridges To Take MSMEs Across Borders Of African Market

Fire Service Apologises To Families, Nigerians After Fatal Rescue Truck Accident Left Three Dead, One Other in Critical Condition

By: Michael Mike

The Federal Fire Service has sent apologies to the families of the three killed in a headlong collision of a car with its rescue truck.

A statement on Sunday by the Controller of the FFS, FCT Command, Momodu Ganiyu read: “The management of the Federal Fire Service (FFS) has expressed profound regret over the tragic incident that occurred around 11:00 pm on Friday at the ECWA Church Junction around Nitel Junction, Wuse 2, Abuja, following a collision between one of its rescue trucks and a Toyota Camry that resulted in the loss of three young lives and left one survivor critically injured

The statement conveyed the FFS heartfelt condolences to the families of the deceased and expressed profound sorrow over the incident.

The Service acknowledged the immense pain and loss experienced by the families, emphasising that the victims’ promising futures were tragically cut short.

The FFS also extended prayers for the swift recovery of the survivor, who is currently receiving medical treatment in an undisclosed hospital..

The statement read: “As a service, we are sorry over the unfortunate incident that claimed the lives of three teenagers. We know that it is a difficult time for their family to cope, considering the age range of the children involved in this fatal accident.

“The Federal Fire Service is aware that losing one’s children is a deeply painful experience that marks the radical change of the family’s life and involves a wide range of sad emotions.”

The statement further explained that the accident occurred during a firefighting operation at Avenue Plaza, Banex, when one of the fire trucks, having exhausted its water supply, was en route to refill. Operating at high speed with its siren blaring, the truck collided with the Toyota Camry, which was emerging from a connecting street at the junction.

The statement said: “We want to categorically state that at the time of the incident, the Controller-General (CG) was out of town and could not be immediately reached due to network issues. Upon being informed, the CG promptly returned to Abuja to meet with the affected families.

“He has since ordered a thorough investigation into the circumstances surrounding the accident and will personally lead a delegation to convey condolences to the bereaved families.

“While a dedicated team has been set up to investigate the tragic incident, the driver has since been detained by the police , while those at the FCT rescue center have also been suspended until the investigation is concluded.”

The Federal Fire Service reiterated its unwavering commitment to safeguarding lives and property and expresses its deepest sympathy to all those affected by this heartbreaking event.
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Fire Service Apologises To Families, Nigerians After Fatal Rescue Truck Accident Left Three Dead, One Other in Critical Condition