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Federal Government Of Nigeria Fires Back At Peter Obi, Denies Revenue Diversion Claims.
The Federal Government has dismissed claims suggesting that a large share of federation revenue is being diverted or hidden from official accounts.....KINDLY READ THE FULL STORY HERE▶
This was contained in a statement issued on Sunday by the Minister of State for Finance, Taiwo Oyedele, who said the reports were based on a misinterpretation of a World Bank publication.
According to him, the claims circulating in the media wrongly portray deductions from the Federation Account Allocation Committee (FAAC) as “waste” or missing funds.
He explained that such deductions are legitimate and include statutory transfers, security spending, cost of collection, refunds to government agencies, and transfers to states and other levels of government.
Oyedele stressed that these are lawful fiscal processes and not evidence of diversion.
He also accused some commentators of selectively using data from the World Bank report while ignoring its broader findings and reform outlook.
The Minister noted that recent fiscal reforms, including new measures to improve transparency in petroleum revenue remittance, are already addressing concerns and are expected to boost revenues for all tiers of government.
He added that the World Bank report did not conclude that Nigeria’s fiscal system was failing, but rather highlighted ongoing reforms that are expected to strengthen the economy if sustained.
Oyedele urged the media and other stakeholders to report fiscal issues responsibly to avoid misleading the public and undermining confidence in ongoing economic reforms.
A minister serving under President Bola Tinubu is reportedly under pressure to consider resignation amid growing political consultations involving prominent Ogun State figures, Chief Olusegun Osoba and Chief Bisi Akande, who are said to have advised the Minister of Power, Adebayo Adelabu, to abandon his governorship ambition.....KINDLY READ THE FULL STORY HERE▶
The Transmission Company of Nigeria (TCN) has confirmed that a severe rainstorm caused the collapse of one of its transmission towers along the Ikeja West–Osogbo 330kV line in Lagos.....KINDLY READ THE FULL STORY HERE▶
The incident occurred on April 16 and was described by the company as a force majeure event, resulting from extreme weather conditions beyond its control.
According to a statement by the General Manager, Public Affairs, Ndidi Mbah, the transmission line tripped during the storm after a fault was detected along the route.
She explained that the fault was traced to about 14.9km from the Ikeja West (Ayobo) end of the line, after which further checks revealed that Tower 515 had collapsed at its midsection.
TCN said it has already begun mobilising engineers, equipment, and materials to rebuild the damaged structure, with teams currently on site working to dismantle the wreckage and restore the line.
Despite the setback, the company assured that power supply would be stabilised through alternative transmission routes already in operation to evacuate bulk electricity.
It added that restoration work is ongoing and updates will be provided as progress is made toward full recovery of the affected line.
Popular Afrobeats singer, Davido, has revealed that he would prefer his children to build their careers outside the entertainment industry.....KINDLY READ THE FULL STORY HERE▶
He made this known during an interview on The Breakfast Club, where he spoke about his upbringing, family life, and the future he envisions for his children. According to him, he would rather they work in the businesses owned by his father, Deji Adeleke, instead of pursuing a career in entertainment.
Davido explained that his view was shaped by his personal experience while trying to establish himself in music. He recalled a difficult period when his father initially did not support his decision to go into entertainment, a situation that emotionally affected him. He added that his father only came around after realising how determined he was about his music career.
The singer noted that working in his father’s companies would offer his children a more stable and comfortable life compared to the struggles he faced while building his music career.
He also spoke fondly about the relationship between his father and his grandchildren, describing how happy it makes his father whenever they are together during family gatherings. According to him, this experience made him reflect deeply on what truly matters in life.
Despite his preference, Davido said he would not stop his children if they choose to pursue entertainment, adding that he would support them fully. He also revealed that one of his daughters already shows interest in music and performance.
He said: “My kids should go and work with my dad… My dad not wanting me in the entertainment really killed my joy until he saw that I was adamant about doing it. I wouldn’t want to do that to my kids as well.”
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