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2018 Budget Underfunded By N2.1tn – Investigations

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The inability of the Federal Government to generate enough revenue to finance its operations had resulted in a N2.18tn financing gap of the 2018 budget.

The 2018 budget, signed by President Muhammadu Buhari on June 20 last year, had total spending of N9.1tn.

The capital expenditure was to gulp 31.5 per cent of the total expenditure at N2.87tn, while recurrent non-debt spending was put at N3.51tn in 2018.

There was also a provision of N2.01tn for debt servicing which is 21 per cent of the total budget while a provision of N177bn to retire maturing bond to local contractors was made by the government.

The Ministry of Power, Works and Housing had the highest allocation with N715bn for both recurrent and capital expenditure, while Ministries of Interior and Defence were allocated N577bn and N576bn respectively.

The Ministry of Education was allocated N542bn; Health, N356bn; Transportation, N267bn; and Agriculture, N203bn.

Investigations by our correspondent revealed that out of N9.12tn total expenditure approved for the 2018 budget, the sum of N6.94tn was released by the Ministry of Finance to Ministries, Departments and Agencies of government.

This, according to findings, represents about 79 per cent of the budget performance.

It was gathered that debt service and the implementation of non-debt recurrent expenditure such as payment of workers’ salaries and pensions recorded the highest rate of funding, while capital releases commenced after the signing of the budget on June 20, 2018.

For the capital components of the budget, it was learnt that the Ministry of Power, Works and Housing got the highest amount of N347.52bn.

This is about 42.95 per cent of the N809.05bn which was allocated to the ministry in the 2018 budget.

This is followed by defence and security, which got N205.89bn. The amount received by the sector is about 66.85 per cent of its N308bn allocation in 2018.

Also, the sum of N152.5bn was released to the agriculture and water resources sector. The amount is about 51.45 per cent of its N296.39bn allocation

In the same vein, out of the N251.42bn allocated to the transport sector in the 2018 budget, about N127.68bn, which is 50.79 per cent of the sector’s budget, had been released.

For the health and education sector, the sum of N115.43bn had been released out of the N189.39bn allocated to the sector in the 2018 budget.

Further findings showed that N456.5bn, which is 86.07 per cent of the N530.42bn allocated for statutory transfers, had been released by the government.

For capital supplementation, the sum of N254.27bn had been released by the government.

This is about 33.54 per cent of the N758.12bn allocated for the expenditure sub-head in the 2018 budget.

It was gathered that the Federal Government could not achieve its 2018 revenue target as some one-off items listed for implementation in the fiscal year could not be actualised.

Some of the one-off items are the N710bn from Oil Joint Venture Asset Restructuring and N320bn from the revision of the Oil Production Sharing Contract Legislation.

These one-off financing items, according to findings, have already been rolled over to 2019 budget.

(Punch)

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Tinubu, Victim of Historical Amnesia – Atiku

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By Eric Elezuo

True to political permutations, the National Convention of the opposition African Democratic Congress (ADC) amid Independent National Electoral Commission (INEC) derecognition and leadership litigation, set a chain reaction in the political space, including a former Vice President and one of the leaders of the ADC, Alhaji Atiku Abubakar, berating President Bola Tinubu as lacking a good knowledge of history.

Against all odds, the party went ahead on April 14, to host a Convention, where over 3000 delegates attended, and where the leadership of Senator David Mark and Ogbeni Rauf Aregbesola as National Chairman and National Secretary respectively were ratified.

Since the April 14 event, the ruling All Progressives Congress (APC) has reacted in a manner political stakeholders and analysts categorized as panicky with statements from the presidency, and President Bola Tinubu himself. Though these responses were tagged correctional of ill-made utterances by ADC chieftains, observers have however said they portray comments by a team faced with an ultimately new challenge.

At the convention, the secretary of the ADC, Aregbesola, had dismissed Tinubu’s administration and his renewed hope policy as a scam. He lambasted the administration as a government of “scammers”, urging Nigerians to block it from retaining power in 2027.

“If allowed, this regime will continue to chant renewed hope till eternity. We have a duty to stop these scammers from retaining power,” Aregbesola said.

The former vice president followed up the convention statements, accusing Tinubu’s presidency of attempting to subvert democratic principles and silence opposition voices ahead of the 2027 elections, a position that further set the ruling party on edge, eliciting tons of reactions.

Beyond Presidential spokesman, Bayo Onanuga’s criticism of Aregbesola for failing to reflect on his own record before attacking his “former boss and benefactor”, Tinubu himself made remarks against the person’s of the leaders of the ADC and their convention, calling it ‘street convention’.

“Unfortunately, Aregbesola did not undertake any honest self-reflection on his own record in public office — as governor or as Minister of Interior,” Onanuga stated in his statement.

He alleged that Aregbesola’s tenure as governor of Osun State was marked by hardship and poor economic management.

“His eight years as governor of Osun State were characterised by unmitigated hardship for the people. Under his half-baked socialist policies, civil servants went unpaid for months, and those who were paid received only a fraction of their salaries,” Onanuga said.

Tinubu, on his part, while hosting the Hope Renewal Ambassadors, took a swipe at some opposition figures, especially Atiku, ridiculing and questioning their records for criticising his administration, and saying that many of them have held strategic positions in the past without delivering lasting results.

He boldly retorted that “If you look at one of them, no one without history among them – no one without history. The head was the chairman of the privatisation council of Nigeria in this country one time.

“He privatised the steel industry in Delta. Is it working today? No. Is anything they privatised working today? They want to privatise another man’s political party. That one says no.”

Responding therefore, the former Vice President launched a fierce counterattack on Tinubu, accusing him of hypocrisy, historical distortion, and political desperation.

In a statement issued by his Senior Special Assistant on Public Communication, Phrank Shaibu, Atiku described the President’s remarks as a “reckless tirade” that reflects “a troubling pattern of hypocrisy and historical amnesia.”

The statement began with “Atiku Abubakar’s attention has been drawn to the latest reckless tirade by President Bola Ahmed Tinubu—a performance that exposes not just desperation, but a troubling pattern of hypocrisy and historical amnesia.”

Atiku expressed surprise that a leader facing persistent scrutiny over his own credentials would attempt to discredit others with what he described as well-documented records of public service.

On the issue of privatisation, Atiku’s camp argued that Tinubu’s criticism does not stand up to scrutiny, noting that the President had previously opposed reforms he now appears to be implementing.

The statement maintained that Atiku had long advocated the privatisation of the Nigerian National Petroleum Corporation (NNPC) and the sale of refineries to credible private investors—a position it claimed Tinubu resisted at the time.

It, however, alleged that the current administration is now overseeing a system that has effectively commercialised the national oil company “without transparency, clear valuation, or accountability.”

“This is not reform; it is privatisation without accountability,” the statement said.

Defending Atiku’s economic legacy, the statement cited several companies as examples of the success of the privatisation programme he supervised, including Oando Plc (formerly Unipetrol), Conoil Plc, African Petroleum (now Ardova Plc), Indorama Eleme Petrochemicals, Benue Cement Company, and Transcorp Hilton Abuja.

The statement also took a swipe at the President’s intellectual posture, suggesting that his comments reflect a failure to engage with documented history on Nigeria’s economic reforms.

“It is not our fault that the President does not and cannot read,” the statement said, while also referencing past controversies surrounding Tinubu’s academic records.

It added that Tinubu’s remarks could only have been made in disregard of publicly available records and credible accounts of the privatisation process.

“You cannot oppose reform when it demands courage and then execute a shadow version of it in power,” the statement added.

Atiku’s camp further criticised the tone of the President’s remarks, arguing that resorting to mockery reflects a deeper leadership concern.

“The President’s attempt to reduce a serious economic legacy to ridicule underscores a leadership more comfortable with insults than with facts,” it stated.

The statement also highlighted the current economic situation in the country, pointing to rising cost of living, inflation, and insecurity as evidence of policy failure.

“Across the country, families are skipping meals, businesses are shutting down, and citizens are struggling under the weight of inflation and declining purchasing power. What has been presented as reform has translated into hardship without relief,” it said.

The statement concluded by asserting that Atiku’s record remains “clear, documented, and defensible,” while noting that unresolved public concerns about the President’s background persist.

“A leader who has not fully addressed questions about his own background should exercise restraint before casting aspersions on others,” it added.

The statement ended with a cautionary note: “Nigerians are watching.”

While the ADC is fighting for their life, and an opportunity to feature on the ballot during the 2027 general elections, and APC solidifying their grip on the political space, the atmosphere still exudes evidence of palpable tension. The APC maintains that they are on homerun to victory, ADC counters that nothing will save the ruling party from being defeated in the coming elections.

But as it stands today, both parties are locked in battle of wits recreating the tension and bad blood that was the hallmark of the 2015, and to a large extent, the 2023 elections.

But on April 22, the Supreme Court will rule on the leadership of the ADC; this will set the motion to the credibility of the ADC to participate in the 2027 election.

But fears pervade the political terrain as Tinubu made veiled reference to the judiciary while mocking Atiku and other leaders of the ADC.

“We cannot submit to the disobedience of unlawful orders in court. We must embrace the judiciary, whether it favours us or it doesn’t, we submit to this principle of democracy, separation of powers and understanding of the dynamics of it and the nation that Nigeria is,” Tinubu had said, insinuating that the ADC had gone against the judiciary.

The coming week will determine in totality the direction the 2027 situation will take.

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Supreme Court Fixes April 22 for Hearing in ADC Leadership Crisis

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The Supreme Court has scheduled hearing for April 22 in the appeal filed by the National Chairman of the African Democratic Congress (ADC), Senator David Mark, in relation to the leadership dispute in the party.

Mark’s appeal is against the March 12 judgment of the Court of Appeal, which dismissed his appeal against the September 4, 2025 ruling by Justice Emeka Nwite of the Federal High Court in Abuja refusing to grant some injunctive reliefs contained in an ex-parte application filed by a chieftain of the party, Nafiu Bala Gombe.

A five-member panel of the Supreme Court, led by Justice Mohammed Garba chose the date on Tuesday after granting accelerated hearing in the appeal marked:  SC/CV/180/2026.

The court ordered Mark’s lawyer, Jibril Okutepa (SAN) to file the appellant’s brief and serve on Wednesday.

It ordered the respondents to each file and serve on the appellant, a respondent’s brief within three days of being served with the appellant’s brief.

The appellant, according to the court, is to file a reply brief, if needs be, within one day of being served with the respondents’ briefs.

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Amid Denials, ADC Reportedly Secures Rainbow Event Centre As Venue for National Convention

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Baring any last minute change, the leadership of the African Democratic Congress (ADC) under Senator David Mark and Rauf Aregbesola as National chairman and National Secretary respectively will hold the party’s National convention at the National Rainbow Event Centre in Garki on Tuesday, 14 April 2026.

The African Democratic Congress (ADC)  has being denied two venues without any cogent reasons despite early arrangements, according to sources.

First, it was alleged that the Abuja Transcorp Hilton Hotels, which was initially approached, turned down the ADC request to use it’s facility.

The ADC, having sensed sabotage, has kept the Rainbow Event Center under rap as it’s definite venue.

The last National Executive Committee (NEC) of the party was held at the same venue.

Located adjacent the Nigerian Police Force Headquarters, the event centre will host the second NEC meeting of the ADC and it’s forthcoming national convention.

According to The Guardian’ report, the ADC leadership has communicated the venue to state chapters with the caveat not to escalate it.

The ADC is in a battle of survival against the Independent National Electoral Commission (INEC) and has approached the Supreme Court for intervention.

The INEC national chairman Prof Joash Amupitan has suspended recognition of the David Mark-led ADC rendering a leadership vacuum in the party.

INEC said it’s decision was on the basis of an Appeal Court pronouncement that ordered statusquo ante-bellum be maintained.

Sources said the ADC has officially written the Inspector General of Police (IGP) Olatunji Disu for police protection, the Director of State Services and the Comptroller of Civil Defence Corps.

Reports say that why the venue is being quietly decorated moderately for the event, the ADC intends to fully move in the early hours of Tuesday.

The Guardian

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