Headlines
Again, NNPC Fails to Contribute to Federation Account in March

By Derrick Bangura
The Nigerian National Petroleum Company (NNPC) once more failed to remit any money to the federation account, a joint pool operated by the federal, state and local governments in the country in March.
With the inability of the national oil company to contribute last month, it means that since this year, the NNPC has not funded the statutory joint account at all.
On Wednesday, the Federation Accounts Allocation Committee (FAAC) shared a total sum of N725.57 billion among the three tiers of government, as federal allocation for last month.
The amount was a 23 per cent increase from the N590 billion shared by the three tiers of government in February, with statutory revenue representing N521.16 billion and Value Added Tax (VAT) being N204.40 billion.
At the meeting, the federal government received N277.10 billion, states got N227.2 billion while the local government areas got N167.91 billion.
But of the amount, although the NNPC did not pay anything, Petroleum Profit Tax ,Oil and Gas Royalties contributed to the FAAC distribution while Import and Excise Duties, Companies Income Tax and Value Added Tax all recorded increases.
An analysis of the NNPC presentation to FAAC showed that while subsidy would gulp N671.88 billion in April due for sharing in May, the oil firm has failed to pay anything out of its budgeted annual N1.473 trillion.
It showed that the NNPC spent N210.38 billion, N219.78 billion and N245.77 billion as subsidy on petrol in January, February and March 2022 respectively, totalling N675.93 billion on petrol.
Despite increasing international prices of crude oil, Nigeria has failed to take advantage as it imports all products from abroad, on which it will expend N4 trillion this year, almost a quarter of its N17.1 trillion budget for the year.
Nigeria’s external reserves has shed $840.6 million in the last 116 days from January 1, 2022, to April 26, according to official data, falling to $39.67 billion as of April 26, down from the $40.518 billion posted on January 1, 2022.
In the first quarter of 2022 ending March, the reserves dipped $971.36 million from $40.518 billion on January 1, to $39.55 billion on March 31.
The Muhammadu Buhari-administration recently deferred the implementation of the full removal of subsidy by 18 months, effectively pushing it to the next government which begins in May next year.
Headlines
Tinubu arrives Katsina to receive Buhari’s body for burial

President Bola Tinubu, on Tuesday arrived in Katsina to receive the remains of the former President Muhammadu Buhari, who passed away in London on Sunday at the age of 82.
Headlines
“He Never Turned His Back on the Needy” — Tributes Pour In Ahead of Buhari’s Burial

Just hours before the burial of former President Muhammadu Buhari, heartfelt tributes have continued to pour in from beneficiaries of his many charitable deeds, with many describing him as a man who never turned his back on the needy.
Speaking to the News Agency of Nigeria (NAN) on Tuesday, Aminu Daura, a respected community elder, recalled how Buhari consistently provided foodstuffs during Ramadan for families, friends, widows, and orphans in his hometown.
“He never made noise about it, but many homes had food on their tables during fasting period because of him,” Daura said.
Abdullahi Sani, a physically-challenged man who received a tricycle from the Buhari Foundation in 2021, was overcome with emotion while speaking to NAN.
“I can move around and feed my family today because of Baba Buhari. I pray to Allah to reward him for giving hope to people like me,” he said, in tears.
Hajiya Fatima Yahaya, another resident, remembered Buhari’s acts of kindness during festive seasons.
“Even after he left office, his aides ensured that the usual support still reached us every year. He always remember his people,” she said, referring to his distribution of Sallah rams and food items to indigent families during Eid celebrations.
Other residents of Daura also shared memories of how the late former president quietly paid school fees and medical bills for struggling families, actions rarely publicized.
“Some of us benefited from his silent interventions. He was a true father and a great figure in the society,” said Ali Saidu.
On Monday night, Imams across various mosques in Daura held special Qur’anic recitations, praying for the forgiveness of Buhari’s sins and his eternal peace.
The Chief Imam of Daura Central Mosque, Sheikh Musa Kofar Barau, described Buhari as a humble leader whose legacy of service and compassion would remain alive in the hearts of the people.
Buhari is scheduled to be buried later on Tuesday in his hometown of Daura, Katsina State, in line with Islamic rites. The community is bracing to welcome thousands of mourners from across Nigeria and beyond.
Headlines
King Mohammed VI Mourns Buhari, Praises Legacy of Nigeria’s Former Leader

His Majesty King Mohammed VI of Morocco has extended heartfelt condolences to President Bola Tinubu, the family of the late former President Muhammadu Buhari, and the entire Nigerian people following Buhari’s death.
In a message of sympathy, the Moroccan monarch described the passing of the former Nigerian leader as a “sad occurrence,” expressing deep sorrow over the loss.
King Mohammed VI hailed Buhari as “an illustrious leader who worked untiringly to serve his country’s best interests and lead his people toward further progress and prosperity.”
He added: “Our thoughts and prayers are with you and the bereaved. I share your grief and want you to know how much I appreciated the working sessions I had with the deceased.”
Reflecting on their bilateral engagements, the king noted that his collaboration with Buhari led to the launch of promising development projects, “ushering a new era grounded in friendship and close cooperation between our two sister nations.”
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