Economy

Arewa group tells Buhari how to tackle insecurity in Nigeria

Published

7 years ago

July 2, 2019

Eric

President Muhammadu Buhari has been urged to properly appraise the security operation in the country with a view to arresting the security challenges.

To be able to win the war against terrorism, armed banditry and kidnapping, there is the need to review the country’s security architecture.

Making the call in Kaduna State at a two-day Northern Nigeria Security Conference, organized by Arewa Research and Development Project, ZARDP, its Convener, Dr. Usman Bugaje, said the Buhari administration’s approach to the security challenges leave much to be desired.

Dr Bugaje said: “What is happening in Nigeria today in terms of security is known to everybody. A lot of killings and atrocities are under-reported. We have a situation where things were deteriorating and still deteriorating and every move by the security agency is not translating to positive results.

“It becomes necessary, therefore, to re-examine the situation and explore the community approach. We want to see what community can do so that we can come together and salvage this country.

“We have brought experts, even though many of them have retired from security forces, so they can bring their expertise and see how the communities can complement the efforts of the security agencies.

“Now, we are not here to blame any particular person. And in this two-day security conference, we did underscore a few points of action. There is the need to take this issue of security very seriously with all responsibility. There should be no room for politics or joke here.

“Secondly, I did say that a citizen will have a responsibility to participate and to show when the government is not delivering, even if it is under dictatorship or in the circumstance that we are.”

He opined, “So, we want people who are holding government’s positions from the lowest up to the President to understand that what they have been doing on security is not working. This is because, it is the citizens who can tell you whether what you are doing is working or not.

“The third point we are considering is the fact that citizens seem to have lost their courage to tell the truth. But this is important in our kind of setting because we are not sure if the President is getting the truth. We want to make sure those that are making policies and strategies are listening to the truth. It is important that whatever we see to be truth we say it.”

Comrade Issa Aremu, a member of National Executive Committee (NEC) of the Nigeria Labour Congress, NLC, observed that regardless of efforts of the security agencies, Nigeria would keep wallowing in crises, if the population growth rate continues to be higher than the country’s economic growth rate.

Aremu said, “Regardless of the efforts of the security agencies, Nigeria will continue to have crises, if the country’s population growth rate continues to be higher than economic growth rate.

“Regardless of whether we armed the security agencies to combat the security challenges, if the number of unemployed youths continues to increase more than that of the security operatives, there is bound to be problem.”

One of the speakers, Abubakar Sadiq Muhammed, said the present blanket approach employed by security forces to tackle insecurity cannot give the results the country needs.

“If you go to Zamfara, economy is in serious crisis. People are no longer going to farm and towns have been abandoned. There is large movement of people from the area they were engaging in farming activities to area where they don’t do anything to become internally displaced persons.

“Sometimes, we demonstrate our lack of capability to deal with the situation we found ourselves. If care is not taken, these criminals will overrun the security – God forbid, and that was why I said we have to look at our security architecture in this country seriously,” Muhammed said.

Economy

Economic Reforms Yet to Ease Hardship for Nigerians – IMF

Published

3 days ago

June 10, 2026

Eric

Despite signs of improving macroeconomic stability, the International Monetary Fund (IMF) has argued that many Nigerians continue to face significant economic hardship as high prices and cost-of-living pressures weigh on households.

In its latest assessment of the Nigerian economy, the Fund acknowledged that ongoing reforms have helped strengthen macroeconomic fundamentals, including improved foreign exchange market stability. and stronger external reserves.

It, however, noted that the benefits of these reforms have yet to fully translate into improved living conditions for many citizens.

The IMF projected Nigeria’s economy to grow by 4 percent in 2025 and 4.1 percent in 2026, supported by policy reforms and improving economic conditions. However, the Fund warned that inflation and rising living costs remain major challenges to inclusive growth.

Recent data from the National Bureau of Statistics showed headline inflation rose to 15.69 percent year-on-year in April 2026, underscoring the continued pressure on household incomes despite signs of economic stabilisation.

According to the IMF, sustaining growth will require policies that not only preserve macroeconomic stability but also improve social outcomes, create jobs and support vulnerable households. The Fund noted that while reform measures are beginning to strengthen confidence in the economy, many Nigerians are yet to feel the full benefits in their daily lives.

The assessment comes as Nigeria continues to implement fiscal, monetary and foreign exchange reforms aimed at boosting investment, strengthening public finances and supporting long-term economic growth. While economic indicators have shown gradual improvement, inflationary pressures and high living costs remain key concerns for households and businesses across the country.

Economy

Dangote Refinery Files Lawsuit Against FG, NNPC, Marketers over Petrol Import Licences

Published

4 weeks ago

May 18, 2026

Eric

Dangote Petroleum Refinery has filed a fresh lawsuit against the Nigerian National Petroleum Company Limited (NNPC) and several fuel marketers, seeking to overturn fuel import licences issued by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).

According to court documents filed at the Federal High Court in Lagos and cited by Reuters, the refinery is asking the court to nullify import permits recently granted or renewed by the regulator, arguing that the approvals violate an earlier directive ordering all parties to maintain the status quo pending the determination of the case.

The legal action comes at a time when Nigeria is recording a sharp decline in petrol imports due to rising domestic refining capacity, largely driven by output from the Dangote Refinery.

In its filing, Dangote Refinery argued that Nigerian law permits fuel importation only when local production is unable to meet national demand. The company maintained that continued issuance of import licences undermines its operations as it ramps up production from its multi-billion-dollar refinery located on the outskirts of Lagos.

Fuel marketers, however, have consistently defended importation, insisting that imports remain necessary to guarantee a stable supply and prevent shortages across the country.

This is not the first dispute between Dangote Refinery and fuel importers. In 2025, the company filed a similar suit against NNPC Ltd and several marketers, including AYM Shafa Ltd, A.A. Rano Ltd, T. Time Petroleum Ltd, 2015 Petroleum Ltd and Matrix Petroleum Services Ltd, while also seeking ₦100 billion in damages. The suit was later withdrawn without explanation.

Recent industry data showed petrol imports dropped to 965.52 million litres in Q1 2026 from 2.43 billion litres in the same period of 2025. Meanwhile, supply from local refineries rose to 3.18 billion litres, accounting for about 76.7 percent of Nigeria’s petrol supply during the quarter.

Economy

World Bank Flags ‘Hidden Spending System’ Diverting N34.53trn of Nigeria’s Revenue

Published

2 months ago

April 19, 2026

Eric

The World Bank has raised concerns over Nigeria’s fiscal framework, revealing that more than N34.53 trillion was diverted from federation revenue over the past three years through pre-distribution deductions.

In its latest Nigeria Development Update obtained from its website, the global lender disclosed that although total federation revenue rose sharply to about N84 trillion between 2023 and 2025, about 41 per cent of the earnings did not reach the Federation Account for distribution to the federal, state and local governments.

According to the report, gross revenue increased from N17.08 trillion in 2023 to an estimated N37.44 trillion in 2025. However, deductions classified as “first-line charges” also rose significantly, from N6.22 trillion to nearly N15 trillion within the same period, reducing the pool of funds available for distribution.

The World Bank noted that the development has created a paradox in which rising revenues have not translated into improved public spending capacity, as a substantial portion is automatically retained by certain agencies before allocation.

It explained that reforms such as the removal of petrol subsidy and foreign exchange adjustments boosted nominal revenues, but much of the gains were offset by the structure of deductions tied to cost of collection and statutory transfers.

Agencies such as the Nigeria Customs Service, Nigerian National Petroleum Company Limited, and the Federal Inland Revenue Service account for a significant portion of these deductions. The report stated that their funding is based on fixed percentages of gross revenue, leading to higher allocations as revenues increase.

Describing the model as “pro-cyclical”, the Bretton Woods institution said it operates outside the conventional budgetary framework and weakens legislative oversight. In some cases, allocations to individual agencies exceed the revenues of several states and even the budgets of key federal ministries.

The report also highlighted the impact on public finances, noting a decline in capital expenditure from N5.5 trillion in 2024 to N4.5 trillion in 2025, with only about 25 per cent of the approved capital budget implemented. Meanwhile, the federal fiscal deficit remained elevated at N16.9 trillion, driven by debt servicing and recurrent expenditure.

The World Bank warned that the current arrangement undermines fiscal transparency and accountability, as significant portions of public revenue are spent outside the standard appropriation process.

Source: tribuneonline