🗞️ Nigeria’s corruption wrapped
Happy Holidays! While you were enjoying your day or whatever, I was doing this, so you 🫵🏾 better read and share it. Thanks, love you!
In this edition:
Tinubu revisits plan to feed school children
Nigeria’s corruption wrapped
Crypto unbanned
What is the Expatriate Quota and why is the government ‘allegedly’ ignoring it?
This edition is 1,900 words, around 6mins read
Free stuff from the President
Last week, the Nigerian Federal Government announced a reduction in transportation costs for travel between different states in Nigeria, from the 21st of December to the 4th of January.
This reduction applies to certain interstate routes and includes 50% off luxury bus fares and free train rides.
However, the Nigeria Labour Congress and Trade Union Congress criticised the move, calling the government's actions confusing. They suggested that reducing the price of fuel would have been a better solution. But others, like the Nigeria Union of Teachers, praised the initiative.
Despite the government's announcement, some passengers are still paying the full fare, as transport firms claim they are still ‘awaiting further direction’, as they haven't received any financial aid from the government.
President Bola Tinubu has decided to restart a school feeding program that was stopped a few years ago by former President Muhammadu Buhari.
This program aims to provide meals to out-of-school children in public (primary and secondary) schools. The goal is to increase school attendance.
The Minister of Education announced this decision at a recent event and mentioned that Tinubu wants to reduce the number of out-of-school- children by 15 million by 2027- Nigeria presently has over 18 million out-of-school.
Additionally, the government is working on resolving issues affecting tertiary institutions, such as salary increases and autonomy for recruitment.
This school feeding program, previously managed by the Ministry of Humanitarian Affairs, aims to improve children's education and enrollment in Nigeria by providing nutritious meals made from locally grown produce.
Nigeria’s Corruption wrapped
The ICPC (Independent Corrupt Practices and Other Related Offences Commission) did a study and found that about 42% of these top positions in public and private organisations between 2022 and 2023 were involved in corruption. - Leadership
A professor, Tunde Babawale, who spoke about this study, said that corruption is high in the government's three main parts - Legislature, Judiciary, and Executive.
He also noted that many acts of corruption have been normalised in workplace culture
The study also found that some companies pretend to do good things for society (called Corporate Social Responsibility) but actually, they're using it to hide giving bribes or favours to government officials. oop
👀
FG gets revenue
In November, the Federation Account Allocation Committee (FAAC) divided N1.088 trillion among the Federal Government, States, and Local Government Councils. – Channels
The money came from various sources like taxes and levies. The Federal Government got N402.867 billion, states received N351.697 billion, and Local Government Councils got N258.810 billion.
Additionally, some funds were given to states as mineral revenue and other specific revenues.
The FAAC reported increased income from taxes like companies' tax and VAT, but some revenues like CET (Common External Tariff) levies decreased.
FG’s plans for revenue
The government plans to spend 13.5 billion USD on Nigeria's energy sector next year. They aim to create opportunities worth 55.2 billion USD by 2030 - Guardian NG
The FG wants reforms and growth in oil and gas. They see big chances for investments in this sector.
They say they’re already working on reforms to help the energy sector grow. The President approved waiving import duties on gas-related equipment to boost its use in Nigeria.
This includes equipment for Compressed Natural Gas (CNG) and Liquefied Petroleum Gas (LPG). It aims to help use Nigeria's gas more effectively.
Meanwhile
In Nigeria, prices of basic needs increased to 28.20% in November 2023 (from 27.33% in October)
Prices of food (like bread, cereals, oil, vegetables, and meat) especially rose to around 32.84% (8.72 % higher than in November 2022).
Nigeria’s total public debt rose marginally by 0.61 per cent quarter-on-quarter to N87.91trn in the third quarter of 2023.
What is the government doing about it?
1. Not paying people’s salaries
The workers at state-owned Rufus Giwa Polytechnic in Owo, Ondo State protested against the non-payment of their salaries for the past 11 months - Leadership
2. Increasing salaries by negligible amounts compared to the inflation rate
In Ekiti, the Governor, Biodun Oyebanji, announced that the government will be giving N15,000 to all workers and N10,000 to pensioners each month for six months, to help support them during these “tough financial times”. This starts from December 2023 until they agree on a new minimum wage. He also promised to pay salary arrears to local government workers and primary school teachers from July 2018.- ThisDay
3. Ignoring employment rules
Foreign companies and local capitalists are exploiting loopholes to bypass the In Expatriate Quotas (EQ) – that is the amount of foreigners working in and allowed to work in a company in Nigeria. This disregard of the law is leading to increased unemployment. - Guardian.ng
This abuse is prominent in sectors like oil, construction, and telecoms
The influx of foreign workers undermines Nigerian job opportunities. Some employers claim they seek expertise abroad due to low local competence levels. Labour unions oppose this, highlighting significant pay gaps between expatriates and Nigerians
Reports suggest companies exploit loopholes in labour laws, employing foreigners without proper permits or qualifications. There are even cases of foreigners, including prisoners, working in Nigeria.
Despite government promises to address EQ abuse and create jobs, the situation persists.
Stakeholders demand stricter law enforcement to protect Nigerian jobs. They also stress the need to overhaul education to produce skilled locals and reduce reliance on foreign workers.
CBN unbans crypto
The Central Bank has lifted the ban on cryptocurrency that was imposed two years ago. When they banned it, they cited concerns about illicit transactions like money laundering, terrorism financing, and the lack of rules to protect people using cryptocurrencies - Reuters
Now, they've lifted the ban but with conditions. For instance, now, users must open a special account for crypto transactions.
Also, banks and other financial institutions are still prohibited from holding, trading or transacting in cryptocurrencies as their own assets (meaning they can transact or use crypto on behalf of clients, but not for personal bank use).
The CBN wants to regulate Virtual Assets Service Providers (VASPs), which include cryptocurrencies, to prevent misuse.
The CBN's decision follows global trends and new guidelines from organisations like the Financial Action Task Force (FATF) to regulate VASPs and prevent virtual assets' misuse.
What’s going on with petrol?
The World Bank says the current price of petrol in Nigeria compared to the market price isn’t aligned. Their guess (and ours) is that the government is subsidising the price of petrol.
They estimate that Nigerians should be paying around N750 per litre instead of the current N650.
The bank has kindly told the FG and NNPCL to stop lying. They’re encouraging openness from them to ensure accurate reporting of oil revenues going to the government.
They recommend regular updates on petrol pricing to promote transparency.
Updates from one of those refineries we’re waiting for
The Port Harcourt refinery is back up 🎉
This follows a 1.5 billion USD renovation that started in 2019.
The project aimed to make the refinery able to process 210,000 barrels of oil per day, which would help Nigeria produce more of our fuel instead of importing it.
The CEO of the NNPCL said the refinery would start working in December 2023 and that by December 2024, they hope Nigeria won't need to import as much fuel as before.
The FG also announced the distribution of a gas leak detector to help reduce the risk of gas leaks in homes and businesses
The device, created by Amal Technologies and supported by the Nigerian Content Development and Monitoring Board (NCDMB), also includes a Printed Circuit Board (PCB).
Insecurity
Terrorists in Katsina
Terrorists killed 4 farmers and kidnapped 8 others in Nahuta village in the Batsari local government area of Katsina State.
The incident happened on Saturday while the farmers were harvesting their crops.
The state police command’s spokesman, Abubakar Sadiq Aliyu, confirmed the attack and explained that one of the farmers narrowly escaped from the bandits with gunshot wounds.
Oyo State attacks protesters
The Oyo State government is rumoured to be selling parts of forested areas near Agodi Garden for housing developments. - Tribune
Agodi Garden, originally envisioned as a conservation area by notable leaders, suffered neglect but has recently been restored.
Environmentalists highlighted the potential dangers of deforestation and expressed a desire to protect the forest around Agodi Gardens. Experts urged collaboration between developers and environmentalists for sustainable housing and emphasised the importance of long-term planning that considers both environmental conservation and social well-being.
The government denied claims of converting Agodi Gardens into a residential estate, emphasising its commitment to preserving it. However, people visiting the part recently have seen bulldozers and trees being uprooted in recent weeks
These discoveries prompted environmentalists to protest the destruction of this reserved area.
Protesters who were at the garden last week said that they were met with hostility, people came to throw stones at them and force them to leave
Legal
The Acting Governor of Ondo State, Lucky Aiyedatiwa, has frozen the accounts of some local governments in the state - Vanguard
Background: Lucky Aiyedatiwa, the state’s deputy governor, has taken over as governor temporarily while the governor is away on medical leave
Aiyedatiwa froze the accounts of 18 areas.
The local government officials were also told not to sign checks or withdraw any money until they get more instructions.
This decision worries some officials, but the reasons behind it are unclear.
Additionally, the Acting Governor has assigned his Deputy Chief of Staff to handle his official duties and signing engagements until he returns from a medical vacation.
Ibadan’s unsettled debt to disgruntled employees
The High Court of the Federal Capital Territory in Abuja has ordered the freezing of Oyo State Government's accounts in 10 banks due to an unsettled N3.5 billion judgment debt.
The ruling resulted from legal action by a few former council leaders (who were fired by Oyo Governor Seyi Makinde in 2019).
These leaders won a N4.9 billion judgment against Governor Makinde and state agencies in 2021. They were paid N1.5 billion in 2022.
The affected banks include Zenith Bank, UBA, Wema Bank, First Bank, Ecobank, GT Bank, Access Bank, Polaris Bank, Jaiz Bank, and Union Bank The next hearing is scheduled for January 5.
Court dismisses Kanu’s release
The Supreme Court has ruled to continue the trial of Nnamdi Kanu, the leader of the Indigenous People of Biafra (IPOB), on terrorism charges. - Premium Times
This decision overturns the Court of Appeal's dismissal of the charges in 2022 due to the illegality of Kanu's forcible repatriation from Kenya to Nigeria.
The Supreme Court stated that despite the illegal means used to bring Kanu back to Nigeria, it doesn't invalidate the trial.
This ruling reverses the previous order for Kanu's release and maintains the trial's jurisdiction in the Federal High Court.
Despite multiple legal proceedings asking for him to be released, Kanu has remained in detention since his repatriation from Kenya in 2021, continuing a case that began in 2015 under former President Muhammadu Buhari's administration.
Then there’s this
The Federal Neuropsychiatric Hospital in Lagos witnessed a significant increase in the number of people admitted for mental health care in 2023, experiencing a 100% rise compared to the previous year. The Chief Medical Director, Dr Olugbenga Owoeye, mentioned this increase was due to various reasons, including economic challenges affecting the country. The hospital also noted a rise in new cases and follow-up patients - Punch
Other
Angola said on Thursday it would leave OPEC over a disagreement on production quotas following the oil cartel’s decision last month to further slash output next year. - DW
The Nigerian Communications Commission (NCC) has directed telecommunications operators to implement full blockage of all subscribers identification module (SIM) cards not linked to national identification numbers (NINs) by February 28, 2024 - Guardian.ng
the Senate has confirmed the appointment of 11 Justices of the Supreme Court after President Bola Ahmed Tinubu sent in their nomination notice - Guardian.ng
The enforcement team of the Lagos State Ministry of the Environment and Water Resources on Tuesday commenced the removal of illegal structures built on setbacks of Mojisola Onikoyi Shoreline Estate – Parkview Estate – Banana Island collector drain in Ikoyi. - PM News
The Ogun State government has sealed nine buildings for infractions while 46 residential buildings at two estates in Sango-Ota were served contravention notices. - Guardian.ng