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Why competence, seniority within the EFCC hierarchy should be considered in appointing the next chairman Leading Reporters
HeadlinesOpinion

Why competence, seniority within the EFCC hierarchy should be considered in appointing the next chairman

by Leading Reporters June 19, 2023
written by Leading Reporters

In 1999, when Obasanjo was to appoint the Inspector General of Police, I wrote that credibility, competence and seniority should be the consideration in his choice of who became the IG of police and it worked out. The recent suspension of the chairman of the Economic and Financial Crimes Commission took many Nigerians by surprise. As the Asiwaju Bola Ahmed Tinubu presidency sets to fill in the vacuum as expected, it is my opinion that mediocrity, godfatherism and man-know-man should be put aside.

It is only expedient that the most senior and competent director in EFCC should be appointed to head the commission and the idea of bringing an outsider should be buried.  This is because, since the establishment of the commission, only Bawa emerged from within the career officers. Nuhu Ribadu, Farida Waziri, Ibrahim Lamorde, and acting chairman DC Umar were all police officers. If the commission must succeed, a personality with proven integrity, impeccable character and patriotism should be the consideration. At the inception of the commission, a lot of controversies were recorded in the trial of corruption suspects ranging from top political office holders to Top security echelons and some private sector players, none of these accusations went unnoticed. President Bola Tinubu is a man of his word who believes in competence as such, much is expected from him on the appointment of the next chairman.

As an anti-graft activist, security analyst and media practitioner, I am a proponent of brilliance and competence and my clear demonstration of these virtues could be seen in how at the point of appointing Sanusi Lamido Sanusi as CBN chairman, I wrote an article published in the leadership newspaper titled “CBN governorship seat, matter of competence and not federal character’ And same method should be adopted in the choice of EFCC chairman by the President and Commander-in-Chief. When I also wrote Tinubu on the sustainability of Jakande’s legacy, little did I know that the President knows what is right, when and how. A standard maintained in the Police, Armed forces and regimented agencies where only internal succession takes place is necessary in the case of EFCC. So far, the commission has trained its own armed squad the same way a commandant of the EFCC institute ensured that all staff of the commission undergo compulsory cadet training for efficiency and meeting up of tasks.

Presently, a total restructuring of the commission is necessary going by the mess created by past and present headship. There was a particular chairman who stagnated promotion, and considered juniors above seniors due to mediocrity and interest. This show of personalizing the affairs of the esteemed commission created indiscipline, corruption, nepotism and self-centeredness against the mandate of the commission. When a foresighted most senior director with academic intelligence is allowed to head the commission, sanity and discipline in meeting goals and objectives could be achieved. As Mr. President is set to make a replacement capable of correcting the image of the country in the fight against corruption, he must erase the possible sycophantic gesture and infiltration of some political lobbyists, traditional rulers, retired police, military and paramilitary officers who might have their external candidates. The EFCC at this material time must be strengthened for achieving its mandate of fighting corruption through norms, ethics, standards and values. Administrative brouhaha in the commission must be addressed to move forward. Nigeria in the Comity of Nations has shown commitment to fighting corruption but corruption seems to be fighting back which ought not to be.

God bless the Federal Republic of Nigeria.

Salihu Dantata Mahmud is the director of security, Salute Nigeria initiative.  He is also a security and public affairs analyst.

June 19, 2023 0 comments
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Nigeria Tallest Man Afeez Agoro is Dead

by Leading Reporters June 15, 2023
written by Leading Reporters

Nigeria tallest man Adeez Agoro Oladimeji is dead. He died at the age of 47.

Afeez who towered 7ft, 4inches was born in Lagos on 13th December, 1975.

Until his death, he battled with a rear medical condition known as gigantism. This led to some complications that required surgery and therapy, but owing to his inability to raise the needed fund, he became bedridden.

Azeez graduated from the department of Computer Science in University of Lagos.

June 15, 2023 0 comments
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Tinubu Suspends Assistant Directors In Charge Of IPPIS, Others In OAGF For Salary Padding

by Leading Reporters June 15, 2023
written by Leading Reporters

An Assistant Director at the OAGF in charge in charge of staff’ salary was alleged to have connived with some staff to pad up the salaries of unspecified number of lower level staff.

Many civil servants across several Ministries, Departments and Agencies (MDAs) including the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) and Office of the Accountant General of the Federation (OAGF) have been suspended for alleged salary padding on the Integrated Personnel and Payroll Information System (IPPIS).  

The allegation was confirmed by RMAFC Chairman, Mohammed Bello Shehu, who said those identified had been placed on suspension pending investigation.  

The affected workers were found to have manipulated the IPPIS system to pad their salaries above their threshold.  

An Assistant Director at the OAGF in charge in charge of staff’ salary was alleged to have connived with some staff to pad up the salaries of unspecified number of lower level staff.  

The scheme was discovered when a level 7 officer whose salary should be in the range of N60,000 was paid over N400,000, which was in the range of a salary package of a Director.  

The salary padding racket had been on for a while among a small clique of civil servants in different MDAs with the IPPIS office in the OAGF as the epicentre.

He said if the indicted officials were found culpable of the salary padding allegations, they would be handed over to the appropriate authorities for prosecution.

June 15, 2023 0 comments
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Meet the acting chairman of EFCC, Mohammed Umar Abba Leading Reporters
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Meet the acting chairman of EFCC, Mohammed Umar Abba

by Leading Reporters June 14, 2023
written by Leading Reporters

President Bola Tinubu on Wednesday night suspended the chairman of the Economic and Financial Crimes Commission, AbdulRasheed Bawa.

The suspension is to allow for a proper investigation into his conduct while in office following some weighty allegations of abuse of office levelled against him by some stakeholders in the anti-corruption fight.

Upon his suspension, Bawa was directed to immediately hand over the affairs of his office to the agency’s Director of Operations Mohammed Umar Abba, who will oversee the affairs of the office of the EFCC Chairman.

Here are six things to know about the acting EFCC chairman:

1. Mohammed Umar Abba was born on June 22, 1965, in Tudunwada Local Government Area of Kano State.

2. Abba bagged his first degree from Bayero University, Kano. He did his one-year national service at the old Anambra State Police Command and later got enlisted into the Nigeria Police Force. He attended the Nigeria Police Academy, Kaduna State, where he was commissioned in 1992.

3. CP Abba was seconded to the Commission in January 2016 to head the Counterterrorism and General Investigations, CTGI, Section at the Headquarters in Abuja.

4. He was appointed the Director of Operations of the Commission in 2017.

5. In 2019, he was promoted to the rank of Commissioner of Police.

6. On July 9, 2020, Abba stepped in as the Acting Chairman of the Commission, being the most senior operational officer when the former chairman, Ibrahim Magu, was suspended.

June 14, 2023 0 comments
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Nigeria's Central Bank headquarters LeadingReporters
Headlines

Breaking: CBN Takes Historic Step by Abolishing Multiple Exchange Rate Window

by Leading Reporters June 14, 2023
written by Leading Reporters

The Central Bank of Nigeria (CBN) has confirmed changes in the foreign exchange market. In a statement on Wednesday night, Angela Sere-Ejembi,  Director, Financial Markets,…

The Central Bank of Nigeria (CBN) has confirmed changes in the foreign exchange market.

In a statement on Wednesday night, Angela Sere-Ejembi,  Director, Financial Markets, confirmed the changes

“The Central Bank of Nigeria (CBN) wishes to inform all authorized dealers and the general public of the following immediate changes to operations in the Nigerian Foreign Exchange (FX) Market: Abolishment of segmentation. All segments are now collapsed into the Investors and Exporters (I&E) window. Applications for medicals, school fees, BTA/PTA, and SMES would continue to be processed through deposit money banks.”

“Re-introduction of the “Willing Buyer, Willing Seller” model at the I&E Window. Operations in this window shall be guided by the extant circular on the establishment of the window, dated 21 April 2017 and referenced FMD/DIR/CIR/GEN/08/007. All eligible transactions are permitted to access foreign exchange at this window.

Details later…

June 14, 2023 0 comments
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Sudan’s raging war forces more than two million from their homes Leading Reporters
Africa & World

Sudan’s raging war forces more than two million from their homes

by Leading Reporters June 14, 2023
written by Leading Reporters

The fighting has displaced more than 1.6 million people inside Sudan, with another 530,000 fleeing to neighbouring countries.

More than two million people in Sudan have been forced from their homes due to two months of fighting between the country’s army and the paramilitary Rapid Support Forces (RSF), according to the United Nations.

Sudan plunged into chaos on April 15 when months-long tensions between the army chief, Abdel Fattah al-Burhan, and the RSF commander, Mohamed Hamdan “Hemedti” Dagalo, exploded into war.

The fighting continued unabated on Wednesday in parts of the capital, Khartoum, and the western region of Darfur – places that have seen some of the worst battles so far. At least 959 civilians have been killed and about 4,750 others were wounded as of June 12, according to the Sudan Doctors Syndicate, which tracks civilian casualties.

The medical group said the toll could be much higher given that it was unable to take into account those who were killed or wounded in the ongoing clashes in el-Geneina, the provincial capital of West Darfur. The city’s hospitals have been out of service since the fighting erupted there in April, the group said.

The brutal clashes have forced more than 1.6 million people to leave their homes for safer areas inside Sudan, according to the International Organization for Migration (IOM). About 530,000 others have fled to the neighbouring countries of Egypt, South Sudan, Chad, Ethiopia, the Central African Republic and Libya, the UN’s migration agency said.

All of Sudan’s 18 provinces have experienced displacement, with Khartoum at the top of the list with about 65 percent of the total number of displaced people, followed by West Darfur with more than 17 percent, according to the IOM’s Displacement Tracking Matrix.

Ethnic targeting

In el-Geneina, the RSF and allied Arab militias rampaged through the city over the past week, killing and wounding hundreds of people, local activists and UN officials were quoted as saying by The Associated Press news agency.

Activists and residents in el-Geneina also reported that dozens of women were sexually attacked inside their homes and while trying to flee the fighting. Almost all rape cases were blamed on the RSF, which did not respond to repeated requests for comment, according to AP.

On Tuesday, Volker Perthes, the UN envoy in Sudan, said the fighting in el-Geneina had taken “an ethnic dimension”, with Arab militias and armed men in RSF uniforms showing “an emerging pattern of large-scale targeted attacks against civilians based on their ethnic identities“.

Such attacks, “if verified, could amount to crimes against humanity,” Perthes warned.

The RSF denies any involvement in attacks against civilians in Darfur, but refugees who spoke to Al Jazeera last month in settlements inside Chad said they had seen men wearing RSF uniforms joining the fight alongside Arab armed groups.

Khamis Abdalla Abkar, the provincial governor of West Darfur province, accused the RSF and allied armed groups of attacking local communities across el-Geneina. In a phone interview on Wednesday with Saudi-owned television station Al-Hadath, he urged the international community to intervene to protect civilians in his province.

“We haven’t seen the army leave its base to defend people,” he said.

More than a dozen refugees who were interviewed by Al Jazeera last month in Chad had said violence erupted in their towns and villages after the army or the local police left, creating a power vacuum that was filled by Arab militias. Not a single resident said the army offered any protection.

Alice Wairimu Nderitu, the UN special adviser on the prevention of genocide, also condemned “the shocking violence” in el-Geneina. She warned in a statement on Tuesday that such fighting could turn into “renewed campaigns of rape, murder, and ethnic cleansing amounting to atrocity crimes”.

Sudan has been without a functioning government since September 2021, when al-Burhan and Hemedti dismissed Prime Minister Abdalla Hamdok’s transitional government and declared a state of emergency in a move decried by political forces as a “coup”.

The transitional period, which started in August 2019 after the removal of longtime ruler Omar al-Bashir, had been scheduled to end with elections in early 2024.

Darfur had been the scene of brutal war in the early 2000s, when al-Bashir and the military armed and recruited Arab militias nicknamed the Janjaweed to fight mostly non-Arab armed groups, which were rebelling against the state and accusing it of neglect and exploitation. In 2013, the Janjaweed were reorganised into the RSF under the leadership of Hemedti.

An estimated 300,000 people are believed to have died in Darfur’s two-decade conflict.Play Video

Video Duration 01 minutes 21 seconds01:21See inside a refugee camp for Sudanese finding safety in Chad Source: Al Jazeera

June 14, 2023 0 comments
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Breaking News: EFCC Chairman Suspended by President Tinubu

by Leading Reporters June 14, 2023
written by Leading Reporters

The Nigerian Television Authority (NTA), has reported that President Bola Ahmed Tinubu, GCFR, has approved the indefinite suspension from the office of Mr. AbdulRasheed Bawa, CON, as the Chairman of the Economic and Financial Crimes Commission (EFCC) to allow for proper investigation into his conduct while in office.

According to NTA, this follows weighty allegations of abuse of office levelled against him by some stakeholders in the anti-corruption fight.

Mr Bawa has been directed to immediately hand over the affairs of his office to the Director, Operations in the Commission, who will oversee the affairs of the Office of the Chairman of the Commission pending the conclusion of the investigation.

#Breaking: PRESIDENT BOLA AHMED TINUBU SUSPENDS BAWA INDEFINITELY FROM OFFICE AS CHAIRMAN ECONOMIC & FINANCIAL CRIMES COMMISSION

President Bola Ahmed Tinubu,GCFR, has approved the indefinite suspension from office of Mr. AbdulRasheed Bawa, CON, as the Chairman, Economic and…

— NTA News (@NTANewsNow) June 14, 2023

OFFICE OF THE SECRETARY TO THE GOVERNMENT OF THE FEDERATION

14th June, 2023

PRESS RELEASE
PRESIDENT BOLA AHMED TINUBU SUSPENDS BAWA INDEFINITELY FROM OFFICE AS CHAIRMAN ECONOMIC & FINANCIAL CRIMES COMMISSION

President Bola Ahmed Tinubu,GCFR, has approved the indefinite suspension from office of Mr. AbdulRasheed Bawa, CON, as the Chairman, Economic and Financial Crimes Commission (EFCC) to allow for proper investigation into his conduct while in office.

  1. This follows weighty allegations of abuse of office levelled against him.
  2. Mr Bawa has been directed to immediately handover the affairs of his office to the Director, Operations in the Commission, who will oversee the affairs of the Office of the Chairman of the Commission pending the conclusion of the investigation.

Willie Bassey
Director, Information

June 14, 2023 0 comments
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Incessant flooding exposes Nigeria’s clouded ecological fund leading Reporters
Headlines

Incessant flooding exposes Nigeria’s clouded ecological fund

by Leading Reporters June 14, 2023
written by Leading Reporters

Ecological fund is financed from 2.3 percent monthly accruals derived from the federation account. The fund is often used to finance projects that will ameliorate environmental problems nationwide.

Environmental problems are often caused by climate change resulting from shifts in precipitation patterns. Climate change causes unpredictable floods, long-lasting droughts, rising sea levels, erosion, risks to infrastructure, increased ocean acidity, heat waves, among others.

Ravaging flooding in some parts of the country has resulted in loss of lives and destruction of properties worth billions of naira. This has ridiculed the country’s ecological fund, which is failing to halt the disastrous consequences of flooding. Based on weather predictions, this year will, once again, expose that states are still not utilising their ecological funds to forestall environmental disasters and deaths.

The October 2022 floods affected nearly all states in the country, including Anambra, Delta, Kogi, Rivers, Benue, Yobe and Cross River. Other states that were affected included: Bayelsa, Kebbi, Niger, Ekiti, Ogun, Edo, and Imo, Enugu, Nasarawa, Abia, Taraba, among others. Last year’s flooding led to the deaths of more than 600 people, displaced 1.4 million residents while destroying 89,348 houses and 70,566 hectares of farmland and crops. 

This raises the question as to why investigating agencies are not tracking ecological funds handed out to Nigeria’s subnationals. All 36 states, including the FCT in Nigeria, in 2021 and 2022, received N64 billion as ecological funds, with Kano getting the highest amount. 

Among the states most impacted by flooding in October 2022, Kano received the highest amount of N3.1 billion, followed by Borno, which got N2.46 billion. Bayelsa and Kebbi both received N1.20 billion, the lowest by states most impacted by flooding. 

 How states utilised 2022 ecological funds

Key ecological operations embarked upon by states are erosion management, flooding, and tree planting. As part of the Paris Agreement 2015, tree planting is often deployed to meet the nationally determined contributions (NDC) target and arrest greenhouse gasses (GHG).

This is done by using the photosynthesis process by trees to reduce the carbon dioxide in the atmosphere. There has been increased funding for tree planting in recent times. World Resources Institute (WRI), One Tree Planted (OTP), and Realize Impact granted up to $500,000 to firms planting trees in 2021. Multinationals such as Lafarge Africa and Seplat have also supported tree planting initiatives in recent times in Nigeria.

 How states utilised 2022 ecological funds

Accountability and Transparency of ecological funds

Nigeria’s flooding cases in October 2022 raised questions as to where ecological funds often went to. 

The Socio-Economic Rights and Accountability Project (SERAP) raised questions around ecological funds’ accountability after the 2022 flooding incidents. 

The House of Representatives, in the same period, also called for the investigation of remittances to the Ecological Fund and withdrawals from the account between 2010 and 2022, alleging mismanagement by beneficiaries.

Nigerian states receive ecological funds but do nothing to forestall flooding. Analysts believe the funds are either unutlised or diverted.

Director of Waterwide, which specialises in water and hygiene, Mr Wilson Atumeyi, said, “Nigeria has an accountability deficit, raising concerns about the utilisation of ecological funds.”

He noted that it was impossible to establish how the money was used, making it difficult to assess whether it sufficiently addressed ecological issues or not. 

“Ecological funding might not be a cure-all for environmental issues, but it does represent a significant advancement in our shared quest for a resilient and sustainable future.” said an environmentalist and researcher, Adesuwa James Jang. She added that the fund’s management must be open, honest, and accountable, focusing on evidence-based decision-making if it was to have the greatest possible impact.

According to Climate Action Tracker (CAT), Nigeria’s transparency framework has much room for improvement. The lack of transparency restricts the country’s ability to keep track of climate finance and mitigation initiatives. This demonstrates even more clearly the necessity for ecological finance to be transparent and accountable, say analysts. 

There have also been predictions of flooding in Nigeria in 2023. According to the National Emergency management Agency (NEMA), there will likely be significant flooding in 178 local governments across 32 states, including the FCT, in 2023. 

“Nigerian states must understand that if they are not accounting for ecoological funds, donors and supporters will be reluctant to provide succour next time it is needed,” said Ike Ibeabuchi, an amerging markets analyst. dataphyte.com

June 14, 2023 0 comments
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Historic electricity bill, Aregbesola’s apology, Emefiele’s arrest, and other top news stories from last week leading Reporters
Headlines

Historic electricity bill, Aregbesola’s apology, Emefiele’s arrest, and other top news stories from last week

by Leading Reporters June 11, 2023
written by Leading Reporters

Numerous things happened last week that warranted news notice. We laboriously compiled a list of some of the most noteworthy national tales from all throughout Nigeria.

DSS arrests ousted CBN Governor, Emefiele

On Friday, officials of the Department of State Security (DSS) arrested the suspended governor of Central Bank of Nigeria, Godwin Emefiele.

Suspended CBN Governor, Godwin Emefiele

He was arrested shortly after President Bola Tinubu directed the office of the Secretary General of the Federation to issue his suspension letter.

According to the president, Emefiele was suspended due to the ongoing investigation of his office and the planned reforms in the financial sector of the economy.

Prior to Emefiele’s suspension, the DSS, on December 7, 2022, in an exparte application with reference no: FHC/ABJ/CS/2255/2022, sought an order to arrest the CBN Governor.

The security agency accused Emefiele of financing terrorism, fraudulent activities and economic crimes of national security dimension.

NLC, TUC suspend planned strike, set date to reconvene

On Monday, the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) decided to suspend the strike that was supposed to take place on Wednesday.

The choice was made after a meeting between federal government and organized labor officials on Monday night at the presidential villa to discuss the withdrawal of fuel subsidies.

Thugs attack, flog PDP members at Ogun tribunal premises as security agents watch

On Monday, the Ogun State Election Petition Tribunal sitting in Isabo, Abeokuta commenced hearing of the petition filed by the Peoples Democratic Party (PDP) governorship candidate, Ladi Adebutu, against Dapo Abiodun of the All Progressives Congress (APC).

According to report, both the APC and the PDP mobilised their members to be at the tribunal for solidarity.

However, political thugs stormed the venue of the tribunal with canes, otherwise known as pankere, attacking percieved opponents while police officers and other security agents watched.

Suspected assassins kill UI professor in Ibadan

On Tuesday, a professor at the University of Ibadan identified as Opeyemi Isaac Ajewole was assassinated.

Opeyemi Isaac Ajewole

WITHIN NIGERIA gathered that the don was killed while returning to his home in Ibadan’s Moniya area on Monday evening.

It was also learned that his body has been deposited at UI Anatomy.

Tinubu receives Wike, Umahi, Akpabio at Presidential Villa

On Monday, President Bola Tinubu met with ex-governors Nyesom Wike of Rivers State and Dave Umahi of Ebonyi State.

Tinubu also met with Godswill Akpabio, the All Progressives Congress (APC) candidate for the Senate presidency.

The meeting took place at Abuja’s Presidential Villa.

The agenda for the visit was unclear as of press time, but it could be related to the leadership of the 10th Assembly, which will be inaugurated this month.

Tinubu holds first meeting with governors

On Wednesday, President Bola Tinubu met with the state governors at the presidential villa, Abuja.

Despite having a meeting with the governors of his party on Friday, Tinubu’s meeting on Wednesday will be his first with state governors from all political parties.

All governors were present for the meeting, which got underway at 12:36 p.m., with the exception of those from Kaduna, Katsina, Akwa Ibom, Cross River, Ekiti, Sokoto, Borno, Yobe, Gombe, and Katsina states.

Tinubu signs historic electricity bill

On Friday, President Bola Tinubu signed the electricity bill which was passed in July 2022 with the aim of repealing the Electricity and Power Sector Reform Act of 2005. As a result, the new law is now known as the Electricity Act, according to reliable sources.

The Electricity Act serves as a comprehensive legal and institutional framework for guiding the Nigerian Electricity Supply Industry (NESI) during the post-privatization phase. It consolidates all existing legislation related to the electricity supply sector and encourages private sector investments.

G5: Why I will not stop going to Tinubu – Makinde

On Friday, Governor Seyi Makinde of Oyo state said he will not stop going to visit President Bola Tinubu at the Presidential Villa, Aso Rock, regardless of what anyone says.

Makinde stated this at the flag-off of the dualisation of 8.3km Akobo, Ojurin/Odogbo Barracks, Olorunda Abas Junction on Friday.

Makinde said, “As I go to Abuja to see the President, I know some people have been saying that since the inauguration of the new President, I have gone to Aso Rock about four times within a week.

Osun APC: Aregbesola begs for forgiveness, blames devil for quarrel

On Wednesday, ex-Osun governor Rauf Aregbesola has sought forgiveness from members of the All Progressives Congress (APC) Osun Chapter and others who may be offended by his actions in the last four years.

Rauf Aregbesola
Rauf Aregbesola

Aregbesola, who was Osun Governor between 2010 to 2018, handed over to Oyetola who served under him as Chief of Staff after winning the 2018 governorship election.

He was opposed to Oyetola’s re-election and faulted the elders of the party for not chastising him (Oyetola) for reversing his policies. News By Withinigeria.com

June 11, 2023 0 comments
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Nigeria's NNPC spent $10 billion on fuel subsidy in 2022 paid to WHO Leading reporters
Headlines

Flash Back: Nigeria’s NNPC spent $10 billion on fuel subsidy in 2022 paid to WHO

by Leading Reporters June 11, 2023
written by Leading Reporters

Nigeria’s NNPC limited led by the former president Muhammadu Buhari spent 4.39 trillion naira ($9.7 billion) on a petrol subsidy last year, latest data from the state-owned firm showed on Friday, a cost the government has blamed for dwindling public finances.

NNPC did not remit funds to federal accounts last year, its data showed, leaving a hole in public finances at a time when the government has been warning that low revenues and large deficits left it unable to stimulate the economy.

The NNPC and the Minister of finance said to borrow to and pay interest on the loan for fuel subsidy, Affirming the President’s stance, Kyari argued that the subsidy payment is no longer tenable as it makes it difficult for the company to fund its core businesses.

He said “Since the provision of the N6tn in 2022, and N3.7tn in 2023, we have not have not received any payment whatsoever from the Federation.

“That means they (Federal Government) are unable to pay and we’ve continued to support this subsidy from the cash flow of the NNPC. That is, when we net off our fiscal obligations of taxes and royalty, there’s still a balance that we’re funding from our cash flow. And that has become very, very difficult and affecting our other operations.

Successive governments in Nigeria have tried and failed to remove or cut the subsidy, a politically sensitive issue in the country of 200 million people.

Nigeria imports nearly all its refined fuels because local refineries were shut due to years of neglect.

Oil production, which has started to recover, has been throttled by crude theft and pipeline vandalism, which means Nigeria is spending more on fuel imports than it is getting from crude oil production.

Finance minister Zainab Ahmed has said the country will keep its costly but popular petrol subsidy until mid-2023 and set aside 3.36 trillion naira ($7.5 bln) to spend on it.

($1 = 453.09 naira) Reuters

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