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Fuel Subsidy: Finance Commissioners want all accruals put into Federation Account

Published

2 years ago

June 9, 2023

By Abdulateef Bamgbose

Forum of Commissioners for Finance of Nigeria has called on the Federal Government to ensure that all accruals from the removal of fuel subsidy go to the Federation Account.

Outgoing Chairman of the Forum, Mr David Olofu made the call at a valedictory session for outgoing State Commissioners for Finance held in Abuja on Friday.

Olofu is also the immediate past Commissioner for Finance and Economic Planning, Benue State.

While commending President Bola Tinubu on the removal of subsidy, Olofu said, as finance experts, the Forum, like other Nigerians, had long yearned for it.

“We will like to sincerely commend the President for having that political will to do that, first day in office.

“That is what we had been yearning for. He came, his first day in office, he was able to achieve that which we have always asked for”, Olofu said.

On how the President should manage the funds from subsidy, Olofu said that the Constitution provided for all federation revenues to go into the federation account.

“Nobody has any authority whatsoever to deduct any amount from federation revenue.

“So, I will align myself with the position of the Constitution and recommend that all the accruals go into the federation account and let it be disbursed from the federation account”, he stressed.

He said, however, the Federal Government should come up with policies and programmes that could address the challenges Nigerians are currently facing as a result of increase in the pump price of fuel due to the removal of subsidy.

“I believe that the President has the capacity and knowledge to be able to do that decisively.

“He has already started it by proposing a wage increase for workers but that has to be done alongside with sub-nationals, because the sub-nationals have the bulk of civil servants in this country.

“I believe he is on track but, apart from wage increase, we also have to look at issues of infrastructure because we believe strongly that if we can wrap up infrastructure in this country, it will also help to improve the living standard and bring down the cost of living.”

Olofu appealed to Nigerians to be patient saying, the long term benefit of what has been done by the President far outweighs the short term pains people were going through.

For the incoming Chairman of the Forum, Wale Akinterinwa, he commended his predecessor, saying that Olofu did a very good work while leading the forum.

“He has actually elevated the forum to a much higher level than he met it. Be that as it may I will try to ensure that I continue from where he stopped.

“I will continue to sustain the good relationship he has created with all the revenue generating agencies such as the Ministry of Finance and the Office of the Accountant General of the Federation”, he said.

Akinterinwa who is the Commissioner of Finance Ondo State, reiterated that the removal of fuel subsidy was an over due issue.

His words: “I commend the President for having the courage to immediately remove the fuel subsidy as he was sworn.

“Well, we are going to feel the pain we are feeling in the short run but in the long run, it is in the best interest of everybody.”

Mohammed Shehu, Chairman, Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), on his part, commended the forum on efforts at taking the issue of federation account very seriously.

“We hope that as the years go by, the agitation on federal might or federal imposition on a lot of things would become a thing of the past.

“This is an opportunity for states revenue mobilisation and all other agencies to collaborate in the area of increasing internally generated revenue of states and diversification of the economy”, he said.

He also said that the removal of fuel subsidy was good for the economy.

Shehu urged states to ensure that the monies that were eventually going to the states should be put to use properly so that “we can run a very good federation and create opportunities for jobs for Nigerians.”

Special Guest of honour at the event, the Governor of Jigawa, Umar Namadi tasked the forum to build on the legacy of the outgoing chairman saying that he brought a lot of innovation and professionalism to the organisation.

He was a former Commissioner for Finance Jigawa and immediate past Deputy Governor of the state before becoming the present governor.

Shehu said that removal of fuel subsidy was a bold step taken by the President.

The News Agency of Nigeria NAN reports that the event was attended by the Accountant General of the Federation, Mrs and representatives of Central Bank of Nigeria (CBN) and Federal Inland Revenue Service (FIRS)

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BREAKING: PDP Youth Forum Expels Nyesom Wike from the Party

Published

19 hours ago

November 6, 2025

The Gleamer

Joel Ajayi
The Forum of 36 States Youth Council of the People’s Democratic Party (PDP) held an extraordinary meeting in Abuja to review the state of affairs within our great party and to deliberate on the conduct of certain members whose actions have continued to undermine party unity, discipline, and integrity.

In a statement signed by Hon. Osita Amechi (Rivers State) on behalf of the PDP Youth Council, the Forum, after extensive deliberations, reached a unanimous decision concerning the former Governor of Rivers State and current Minister of the Federal Capital Territory (FCT), Mr. Nyesom Wike.

According to the Forum, Mr. Wike, through his actions and open collaboration with the ruling All Progressives Congress (APC), has violated the core principles, values, and loyalty expected of a member of the PDP.

> “After extensive deliberations and in line with our commitment to protect the integrity of our party, the Forum unanimously agreed that Mr. Nyesom Wike has acted in ways that are inimical to the unity and progress of the PDP,” the statement read.

Consequently, we, the youth representatives of the PDP across the 36 states of the federation, hereby announce the expulsion of Nyesom Wike from the PDP.

This decision reflects the collective will of our members nationwide, who can no longer tolerate his continued attempts to destabilize and discredit our great party from within.
We therefore call on the National Working Committee (NWC), National Executive Committee (NEC), and the Board of Trustees (BOT) of the PDP to accept and formally ratify this resolution in the interest of justice, discipline, and the overall sanity of the party.

Our resolve remains firm — the PDP must continue to be a credible alternative to the ruling APC. To achieve this, the party must be purged of elements working as agents of distraction and destruction.

We reaffirm our unwavering commitment to the ideals of democracy, unity, and selfless service to Nigerians under the noble umbrella of the People’s Democratic Party.

—
Endorsed and Signed by the PDP Youth Council from the 36 States of the Federation
1. Abia – Chukwudi Ejike

2. Adamawa – Maina Bala

3. Akwa Ibom – Utibe Akpan

4. Anambra – Emeka Chigozie

5. Bauchi – Madalla Yahaya

6. Bayelsa – David Daniel

7. Benue – Ortom Francis

8. Borno – Abubakar Bakare

9. Cross River – Udofia John

10. Delta – Ejiro Efe

11. Ebonyi – Ude John

12. Edo – Michael Omoruyi