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Insecurity: Plateau, Kano, Sokoto, 12 Other States Enlist Over 50,000 Vigilantes Against Kidnappers

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In a bid to cub the rampaging kidnappers and bandits operating freely across the country, 15 state governors have assembled no fewer than 52,106-man vigilante squads to battle the hoodlums.

Officials in Delta, Kano, Plateau, Sokoto, and 11 other states have confirmed that their governors had put together a coalition of vigilantes, hunters, and neighbourhood watch groups to complement the police and other security forces.

Scores of Nigerians have been abducted across the country in the past weeks, with the Federal Capital Territory, Abuja, Lagos, and some other states coming under the abductors’ siege.

Though the authorities deployed troops and police operatives, this did not alleviate the security challenge.

Gunmen, on Monday, killed two Ekiti monarchs, the Onimojo of Imojo, Oba Olatunde Olusola, and the Elesun of Esun Ekiti, Oba Babatunde Ogunsakin, while the Alara of Ara Ekiti, Oba Adebayo Fatoba, narrowly escaped.

On the same day, suspected bandits also abducted five pupils of the Apostolic Faith Group of Schools and four staff members.

The abductors are demanding a N100m  ransom for the release of the nine victims.

In response to the troubling situation, the Delta State Government said it had established 2,400 vigilante groups in the 11 local government areas of the state.

The state’s Director-General on Security Matters, Mr David Tonwe, stated this in an interview in Asaba on Wednesday.

He said, “Yes, we have about 2,400 vigilante groups in 11 local government areas of the state, including hunters. And they are working well. We are still making efforts to cover the whole 25 local governments.’’

  • Kano Trains 2,500 Security Personnel

To assure Kano residents distressed by the abduction epidemic, the Kano State Government recently launched a training programme for 2,500 security personnel at the Sani Abacha Stadium.

The training was conducted last month at the state’s Corporate Security Training Institute in Gabasawa town, the headquarters of Gabasawa Local Government Area.

The initiative aims to boost youth job opportunities and strengthen the state’s security architecture.

The Director-General of Media and Publicity to the governor, Sanusi Tofa, said the trained personnel would be deployed in ministries, departments, and agencies to bolster the existing security structures and enhance public safety.

In Plateau State, Governor Caleb Mutfwang has boosted the strength of ‘Operation Rainbow,’ the local security outfit, to over 700 persons to beef up the security in the state.

The home-grown security outfit was established in 2010 by former governor Jonah Jang after approval by former President Goodluck Jonathan.

The creation of the outfit followed complaints by citizens about the poor performance of the conventional security operatives, who they accused of failing to protect them from the attacks by gunmen.

Former Governor Simon Lalong, who took over from Jang, was accused of relegating the security outfit to the background throughout his eight-year tenure.

However, Mutfwang, who succeeded Lalong, had said he was determined to revive the security outfit following the rising attacks and killings in several communities.

Recently, the governor unveiled 600 personnel of the outfit who passed out after vigorous training.

Before the latest addition, the outfit had over 100 personnel, who remained in the outfit during the Lalong years.

Mutfwang stated during the unveiling of the new personnel that the revitalisation of the outfit was timely, coming when the state needed consolidation on the gains of tackling the security challenges that had ravaged the state for years.

  • Sokoto Trains Vigilantes

As part of strategies to tackle insecurity, the Sokoto State government has recruited no fewer than 2,000 persons into the newly established community guard corps.

Mallam Yushau Kebbe, the acting chairman of the corps, made this known in an interview.

He said the 2,000 corps members,  who are training at the National Youth Service Corps permanent orientation camp in Wamakko, would be deployed across all 23 local government areas of the state.

“They will all be deployed to all the local governments across the state. Most of them were recruited from the vigilante groups in the state

“They are currently undergoing different kinds of training from security agents and will soon be deployed to work together with the security agents,” Kebbe revealed.

Like its counterparts, the Anambra State Government said it had established the Anambra Vigilante Services to complement the efforts of the federal security operatives.

Investigation showed that the vigilante service was set up during the administration of former governor Chris Ngige to tackle kidnappings in the state.

It was further gathered that the current administration of Prof. Chukwuma Soludo had strengthened the vigilante group to confront headlong the issues of kidnapping, which was hitherto rampant in about eight local government areas of the state.

The State Commissioner for Information, Paul Nwosu, and the Public Relations Officer of the state vigilante services did not respond to inquiries.

But a top official of the vigilante group, who gave his name as Jude Okeke, said, “Yes, the Anambra State Government has a security outfit called Anambra Vigilante Services backed, equipped, and financed by the state government to complement the federal security agencies in all the 21 local government areas of the state.

“The AVG operatives are no fewer than 7,000. Some vigilantes are also sponsored by communities in the council areas who work in collaboration with the police to combat crimes such as kidnapping in their areas.’’

Findings indicate that Bayelsa also has a 607-man vigilante group financed by the state government.

The state had also directed the leadership and stakeholders of communities yet to set up vigilante groups to complement the efforts of conventional security agencies to do so without any further delay to ensure the proper security of their domains.

The Deputy Governor, Senator Lawrence Ewhrudjakpo, handed down the directive in 2023 while hosting some stakeholders of the Ovom Community in the Government House, Yenagoa.

  • Ogun 16,500 Members

In Ogun State, over 16,500 members of the Vigilante Service of Nigeria and So Safe Corps are working with the security forces to protect the citizens.

The state Commander of the Vigilante Service of Nigeria, Sola Shodiyan, said that the officers of the group were over 10,000 while the Commander of Ogun State Community, Social Orientation and Safety Corps, codenamed So-Safe Corps, Soji Ganzallo, said the operatives of the security agency are 6,500.

Osun Amotekun Corps Commander, Brig. Gen. Bashir Adewinbi (retd.), told The PUNCH that the organisation had 354 personnel, adding that Governor Ademola Adeleke had approved the recruitment of an additional 650 men.

According to him, Adeleke was also planning to provide more equipment for Amotekun in the state to enhance its efficiency.

He added that local government areas at the state’s borders with other states were being closely monitored to prevent infiltration by bandits.

He said, “We have just 354 personnel. We are trying to look into one of our major challenges, which is strength, and the governor has graciously approved the recruitment of at least 650. He is equally ready to buy more equipment for us to complement the police for the security of the state.’’

“We have told our men to be very vigilant and intensify their intelligence gathering, particularly at all the border local government areas,” Adewinbi said.

The strength of the Benue State security outfits could not be confirmed as state officials declined to speak, but it was estimated to be about 3,000 personnel.

The four officially recognised outfits include the Benue State Community Volunteer Guards, Nigeria Hunters, and Forest Security Services, the State Livestock Guards, and the Nigeria Vigilante Group.

Recently, the groups embarked on a ‘show of force’ in Makurdi metropolis and Naka in Gwer West Local Government Area of the state to send warning signals to criminals.

The security adviser to the governor, Joseph Har, declined to give the number of the state security personnel but the past administration of Samuel Ortom recruited 1,500 into the then newly established Community Volunteer Guards.

When contacted, the security adviser said, ‘I cannot tell you the strength, if that is what they tell you, I don’t know.’’

In Gombe, the inauguration of a special security task force, ‘Operation Hattara,’ has reportedly boosted security in the state with the recruitment of 2,000 youths.

At the unveiling ceremony in August 2022, Governor Muhammadu Yahaya said the Gombe State Security, Traffic and Environmental Corps launch was part of efforts to reinforce the state’s security architecture.

To battle criminality, no fewer than 3,000 men and women of the Ebonyi State Neighbourhood Watch Security Outfit had been posted to the different parts of the state.

Towards curbing the growing insecurity bordering on kidnapping, armed robbery, and other violent crimes in Akwa Ibom State, Governor Umo Eno engaged 500 youths in the Ibom Community Watch Constables.

Speaking during the inauguration of the outfit last December, Eno explained that it was to enhance the security of the state.

Meanwhile, the Edo State Governor, Godwin Obaseki, has ordered the re-accreditation of all operatives of the state’s Security Vigilante Network, numbering over 6,500.

Obaseki gave the order during a security briefing at the Solomon Arase Command and Control Centre in Benin City, the Edo State capital, in the company of the state security chiefs.

He pledged to sustain his collaboration with security agencies to combat crime and criminality in the state.

On reaccreditation of the vigilante, the governor said, “We heard some kidnappers took over a checkpoint and attacked some policemen on patrol, but none lost their lives in the incident, and this has prompted the government to commence a total revamp of the vigilante structure.

“Commencing today, only the vigilante personnel trained in the Nigerian Police Training School under the arrangement with the Edo State Government will be allowed to serve in Edo State.’’

To better protect its citizens from the bandits’ assault, the Katsina State Government has enrolled 2,400 youths in its Community Watch Corps.

Besides, community vigilante groups are operating across the 34 Local Government Areas under the supervision of divisional police officers.

Governor Dauda Lawal of Zamfara State launched the 2,645 members of the State Community Protection Guards set up by his administration on Wednesday to tackle the insecurity challenges affecting the state.

During the launching of the security guards in a colourful ceremony in Gusau town on Wednesday, Governor Lawal said his administration was poised to bring an end to banditry activities in the state.

Commenting on the vigilante groups set up by states, a retired military officer, John Sura, said the governors must ensure that the appointed vigilantes were people who were ready to give their lives and provide information to security agencies adding that the state governments must provide adequate training for the vigilantes to be the first line of defence against security threats.

“At this critical time, if we have not legitimised local policing, the best bet the governors can go under is through these vigilantes. They should be ready to give their lives to protect the people. They should be people who are also ready to give out information to the government and the security agencies to stop whatever attack is coming on the community.”

On his part, the Managing Director at Beacon Security and Intelligence Limited, Kabir Adamu, argued that the governors employed the vigilantes as a last resort because of the “thin deployment” of security forces, particularly in the rural areas.

He added that the police must play their role, adding that until the constitution allowed them to bear weapons, the vigilantes could be used for intelligence gathering and “low-level policing functions.”

“The reason governors are resorting to the creation of state-level security formations is because of the thin deployment of security forces at the state level, especially in the rural areas. The non-state armed groups that are attacking the states, unfortunately too, the number of attacks has increased, and the consequences are also affecting those governors politically to the point where these non-state actors are also threatening the legitimacy of their governance. So, the natural resort would be to create state formations.

To this end, one of the recommendations would be for the Police to play its role. Until a constitutional amendment allows state-level security formations to bear weapons that can withstand threat elements, the current provision is for the Police to train these state-level security formations and incorporate them into its intelligence wings, in particular. So, intelligence, they can be used for that, they can also be used for low-level policing functions”, he said.

 

Credit: The Punch

BIG STORY

JAPA: UK Net Migration Falls By 20% Amid Visa Restrictions

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Net migration to the United Kingdom has dropped significantly, with figures for the year ending June 2024 standing at 728,000, a 20 per cent decline from 906,000 the previous year, according to the Office for National Statistics, on Thursday.

The reduction is largely attributed to changes in visa policies implemented by the UK government earlier in the year.

“Our latest estimates indicate a fall in long-term net migration (the difference between people coming to live in the UK and those leaving to live elsewhere).”

“Our provisional estimates show a 20% reduction between our updated estimate for year ending June 2023 (906,000) and our latest estimate for YE June 2024 (728,000).”

“This fall is driven by a decline in long-term immigration mainly because of declining numbers of dependants arriving on study visas,” the report said.

Restrictions introduced in January 2024 prevented many international students from bringing dependants, resulting in a decrease of 94,000 in study visa applications compared to the previous year.

Similar rules introduced in March also prohibited care workers from bringing family members.

While applications for skilled worker visas increased slightly early in the year, there has been a decline since April 2024, when the government revised the list of eligible jobs for the visa category.

The ONS reported that of the 1.2 million people who migrated to the UK during this period, 86 per cent were non-EU nationals, 10 per cent EU nationals, and 5 per cent British nationals.

Indian nationals formed the largest group of non-EU migrants for both work and study purposes, with 116,000 arriving for work and 127,000 for education.

Dependants accompanying work visa holders totalled 233,000, up from 166,000 the previous year, although recent data indicates this number may now be falling.

Emigration also rose, with 479,000 people leaving the UK by June 2024, compared to 414,000 the previous year. EU nationals made up 44 per cent of those leaving, while 39 per cent were non-EU nationals, and 16 per cent were British citizens.

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BIG STORY

Port Harcourt Refinery: Marketers Threaten Boycott As NNPCL Juggles Petrol Price

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  • Dealers Insist PMS Must Be Cheaper Than Dangote’s.
  • NNPCL Delays Price Portal Opening, Restricts Product.

 

Oil marketers have outlined the conditions under which they would consider patronizing the newly rehabilitated Port Harcourt Refinery Company (PHRC) in Rivers State. They stated that the refinery, managed by the Nigerian National Petroleum Company Limited (NNPCL), must offer its refined petroleum products at prices lower than those set by the Dangote Petroleum Refinery.

In response to claims made on Wednesday that its petrol was being sold at approximately N1,045 per litre, the NNPCL clarified that the refinery had not yet released its prices. According to the company, products from the refinery are currently being supplied only to NNPCL-owned stations.

Olufemi Soneye, the spokesperson for NNPCL, explained that the company is still reviewing its pricing structure and has not yet begun bulk sales, as its purchasing portal remains closed.

In related news, it was reported on Wednesday that oil marketers had imported a total of 105.67 million litres of petrol into the country within a span of five days.

Marketers confirmed that NNPC was selling petrol at N1,045/litre, stressing that they may be compelled to opt for petrol importation as a means of meeting local demands.

According to The Punch, a total sum of 78,800 metric tonnes representing 105.67 million litres of petrol was imported into the country in the last five days spanning November 23 and November 28.

On Tuesday, the 60,000-capacity Port-Harcourt refinery resumed operations after years of inactivity, drawing initial praise from Nigerians and industry stakeholders.

The NNPC said the newly rehabilitated complex of the old Port Harcourt refinery, which had been revamped and upgraded with modern equipment, is operating at a refining capacity of 70 per cent of its installed capacity.

NNPC added that diesel and Pour Fuel Oil would be the highest output from the refinery, with a daily capacity of 1.5 million litres and 2.1 million litres, respectively.

This is followed by a daily output of Straight-Run Gasoline (Naphtha) blended into 1.4 million litres of Premium Motor Spirit (petrol), 900,000 litres of kerosene, and low-pour fuel oil of 2.1 million litres.

It was stated that about 200 trucks of petrol would be released into the Nigerian market daily.

However, claims that the national oil firm’s PMS price was higher than that of Dangote triggered diverse reactions from marketers.

The National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria, Chinedu Ukadike, told one of our correspondents that though NNPC had yet to release any price for the products from the refurbished Port Harcourt refinery, a high price would discourage marketers.

Dangote currently sells his petrol at N970/litre, while imported petrol is around that price.

Ukadike, however, noted that there was the possibility that the NNPC would review its prices downward when the Port Harcourt refinery comes fully on stream.

He confirmed that the state-owned oil company sells a litre of PMS at N1,040 or N1,045 while the Dangote refinery just reviewed its price from N990 to N970 for marketers buying a minimum of two million litres.

Ukadike did not mince words when he said independent marketers would only buy from the NNPC if its price is cheaper than that of Dangote or vice versa.

“With the Port Harcourt refinery now working, we are anticipating that any moment from now, NNPC will give us its price. Once NNPC releases its price, we will start loading from NNPC. That is subject to if it is cheaper than that of Dangote.

“The last NNPC price was N1,040 and N1,045 per litre. But I know there will be a review of prices because there has been a crash in prices globally. So, we are expecting a review. Once that review is done, I will be able to give you the actual price. I know they are reviewing it. They are on top of the matter,” the IPMAN spokesman said.

The latest development also indicates that oil marketers may commence the importation of fuel if the prices set by both domestic refineries surpass their profit margins, thereby making it more financially viable for them to rely on imported fuel rather than locally produced stock.

The National Public Relations Officer of the Petroleum Products Retail Outlets Owners Association of Nigeria, Dr Joseph Obele, had earlier said NNPC petrol was N75 higher than the N970/litre offered by Dangote refinery.

However, PETROAN’s President, Billy Gillis-Harry, in a statement denied the claim, stressing that no price has been released by the national oil firm.

He explained that members of the association bought PMS based on the old pricing structure and are still waiting for the updated prices.

The statement read, “The National Headquarters of Petroleum Products Retail Outlet Owners Association of Nigeria, PETROAN Abuja would Like to Inform the media and the general public that no new price for PMS has been released by the NNPC port Harcourt refinery.

“Members of PETROAN only bought PMS with the old pricing template awaiting

new prices. We are excited that the production and loading of refined petroleum products have commenced at the Port Harcourt Refinery and we are expectant that soon the price of PMS will be stated by NNPC to the benefit of Nigerians.”

  • NNPC Reacts

But in a message sent to journalists on Wednesday night, the NNPC spokesperson said the national oil firm had not started selling its products from the Port Harcourt refinery to other oil marketers.

He was reacting to an earlier claim by the Petroleum Products Retail Outlets Owners Association of Nigeria that the newly rehabilitated Port-Harcourt refinery was selling at N1,045/litre to oil marketers.

He noted that only NNPCL retail stations are receiving products from the refinery.

He said, “We have not yet commenced bulk sales, and we have not yet opened the purchase portal as we are still finalizing the necessary processes.”

He further stated its current stock was procured from the Dangote Refinery and includes fees and levies.

“At present, the products we are selling are what we bought from the Dangote Refinery, which includes NMDPRA fees. The product from PH is currently for our retail stores. Our prices are regularly reviewed and adjusted as required.”

  • PMS Imports

Meanwhile, fresh findings (by The Punch) have revealed that a total sum of 78,800 metric tonnes representing 105.67m litres of petrol have been imported into the country in the last five days spanning November 23 and November 28.

The product was conveyed in four vessels with the latest to be received today (Thursday, November 28, 2024), according to documents obtained from the Nigerian Ports Authority on Wednesday.

An analysis of the document showed that 38,500 metric tonnes of petrol imported on Monday, November 25 berthed at the Lagos Apapa port (Bulk Oil Plant).

Similarly, a Bedford ship conveying 10,000mt of PMS will berth at the Ebughu jetty, Calabar port in Cross Rivers on Thursday, November 28.

Two vessels that arrived on Saturday, November 23 is still waiting to berth. The ships are carrying 30,300mt of fuel.

It also revealed that 11,000 metric tonnes of base oil was imported while the 20bn Dangote refinery received crude oil worth 133,986 metric tonnes on Monday, November 27, 2024.

Last week, oil marketers and the NNPCL had stated plans to stop the import of fuel to focus on off-taking from domestic sources.

This was a fallout from a high-level meeting organised by the NNPC Group CEO Mele Kyari, and the Nigerian Midstream and Downstream Petroleum Regulatory Authority. In attendance were representatives of the Major Oil Marketers Association of Nigeria, Depot and Petroleum Products Marketers Association of Nigeria, and key stakeholders from companies such as 11 Plc, Matrix, and AA Rano, among other stakeholders at the NNPCL towers in Abuja.

The meeting was in growing confidence in Dangote Refinery’s ability to meet the nation’s domestic fuel demand and the need to cut fuel imports.

 

Credit: The Punch

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BIG STORY

Reps To Probe N8.4tn Allegedly Withheld By NNPCL

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On Wednesday, the House of Representatives instructed its Committees on Finance, Petroleum (Upstream and Downstream) to investigate reports from the Revenue Mobilisation Allocation and Fiscal Responsibility Commission “alleging that the NNPC (now Nigerian National Petroleum Company Limited) withheld N8.48tn as claimed subsidies for petrol.”

The House also emphasized that “the investigation will address the NEITI report stating that NNPC (now NNPCL) failed to remit $2bn (N3.6tn) in taxes to the Federal Government.”

The committees were tasked with verifying the total cumulative amount of unremitted revenue (under-recovery) from the sale of petrol by the NNPC between 2020 and 2023.

Meanwhile, the House approved the 2025-2027 Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) ahead of President Bola Tinubu’s presentation of the 2025 Appropriation Bill to the National Assembly next week.

The MTEF is a multi-year plan for public expenditure that sets targets for budget spending and fiscal policy, ensuring these goals are met throughout the budget process.

The FSP outlines a country’s fiscal policy and medium-term macro-fiscal framework. It is a critical part of the annual budget process and the Medium-Term Budget Framework.

President Tinubu had transmitted the MTEF/FSP to the National Assembly on Tuesday, November 19, 2024, following the approval of the Federal Executive Council.

The Tinubu administration set the oil benchmark for 2025 at $75 per barrel, with oil production projected at 2.06 million barrels per day. The government also pegged exchange rate parameters at N1,400 per dollar, with a projected Gross Domestic Product growth rate of 6.4% per annum.

During the Committee of Supply meeting to consider the report of the Committees on Finance and National Planning and Economic Development, presiding officer and Deputy Speaker Benjamin Kalu expected the usual “carried” chorus from members when he began the clause-by-clause consideration of the 15 recommendations. However, the Minority Leader of the House, Kingsley Chinda, changed the tone of the discussion.

  • Oil Benchmark Controversy

Chinda spoke out on the $75 oil benchmark, suggesting that the 2025 figure should reflect the 2024 benchmark, pointing to the higher prices reached in early 2024.

He said, “Because of the importance and sensitivity of MTEF, I will advise that we consider it thoroughly before we pass. This is one of the most important bills this parliament will ever pass. They recommend a $75, $76.2, and $75.3 benchmark per barrel of crude for 2025, 2026, and 2027 respectively.

“We are aware that for 2024, what we recommended was $77.96, which is the current budget. Today, it is about $85 per barrel. That is, in the first quarter of 2024, we achieved $85 and it increased further. If we are recommending $75 for next year, which is one month away, against the $77 we recommended for this year, I will advise that we retain the minimum we adopted for this year.

“Rather than increasing, we are reducing. I am not unaware of the issue of moving to gas-propelled vehicles, leaving fossil fuel. I am aware that the world is moving that way, and reliance on crude may be a bit reduced, but going for $75 might be a bit too low,” he said.

In response, the Chairman of the House Committee on Finance, Abiodun Faleke, defended the $75 per barrel benchmark as “responsible.”

He stated, “Crude oil prices in the international market are not controlled by any country. In 2024, we were fortunate that crises in some oil-producing countries led to higher prices. In 2025, there is likely to be more stability. If you set the benchmark too high, it bloats expectations. Today, the price has crashed to $74. I think our benchmark is reasonable.”

Ibrahim Isiaka, the member representing Ifo/Ewekoro Federal Constituency, Ogun State, supported this view, saying, “If we pass this MTEF today and there is a need for amendment, this House can sit and do the necessary review. There was a time when crude sold for $120 per barrel and a time it sold for $20. Let us see this as a working document subject to review.”

At the conclusion of the debate, the $75 benchmark was adopted.

  • Oil Production

Another contentious point was the significant increase in domestic crude oil production, projected to rise from 1.78mbdp in 2024 to 2.06mbdp, 2.10mbdp, and 2.35mbdp in 2025, 2026, and 2027, respectively.

Chinda questioned the rationale behind the 2025 projection of 2.06mbpd, saying, “We are making projections for domestic crude oil production from 1.78mbpd in 2024 to 2.06, 2.10, and 2.35mbdp for 2025, 2026, and 2027. If you look particularly at the social media, they will tell you that we are producing about 2mbpd, but the truth is, we are not. Although there is improvement, as of yesterday, the volume was 1.05mbpd.

“These are the things that will help us in proper planning so that the government does not have to always come to the National Assembly for borrowing, which also exposes us further to criticisms by Nigerians.

“We must be critical about how we set our benchmark. Our target has always been to produce 2mbpd. OPEC’s quota for us is 1.8mbpd. Putting this ambitious target of 2.06mbpd and 2.35mbpd, we might not really achieve it. If we don’t achieve it, we know we will be tightening our belts. We are already projecting that we will sell 2.06 million barrels, and if we sell less, we will get less funds. Let us reduce our target rate to 2 million barrels per day, which has always been our target,” Chinda argued.

Faleke defended the recommendation, stating, “As of today, production is close to 2mbpd. It is getting better. Operators of NUPRC gave us the details. If you put a lower projection, you are indirectly telling the operators not to work hard. Let us push them to work harder and get more funding for our country. There was a time during the era of Goodluck Jonathan when we were around 2.5mbpd. Mind you, this 2.06 projection includes all the concentrates. It is not just crude oil alone.”

Regarding the proposed exchange rate of N1,400 to the dollar for the next three years, a lawmaker from Nasarawa State, Gbefwi Gaza, said, “In the past few years, we have seen the volatility in our currency. In this country, virtually everything we do is pegged to the dollar. If we don’t have a very good proposed rate, what that means is that we have to increase our borrowing for any deficit.

“What do we have on the ground to make the naira stronger and make the dollar weaker? Yes, we have the Dangote Refinery, but we are in a phase of energy transition. We are going to the era of using more batteries and fewer fossil fuels; yet, fossil remains our main source of income.”

The House also adopted inflation rate projections of 15.75%, 14.21%, and 10.04% for 2025, 2026, and 2027, respectively.

Additionally, the House agreed that “The 2025 Federal Government of Nigeria budget proposed spending of N47.9tn, of which N34.82tn was retained. New borrowings stood at N9.22tn, made up of both domestic and foreign borrowings.”

Capital expenditure is projected at N16.48tn, with statutory transfers at N4.26tn and sinking funds at N430.27bn.

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