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Reps To Probe Collapse Of Drug Revolving Funds  

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 By Gloria Ikibah
The House of Representatives has resolved to investigate the collapse of the drug revolving funds scheme.
This resolution was sequel to the adoption of a motion on, “Collapse Revolving Funds and Indebtedness of Federal Health Institutions to the Pharmaceutical Firms in Nigeria” by Rep. Adedayo Samuel Adesola, Rep. Amos Magaji Gwamna and Rep. Regina Akume on Wednesday at plenary.
The House noted that the drug revolving funds scheme, created as a result of the Essential Drug Act, was to address challenges of the perennial out of stock syndrome of drugs in public health institutions.
It also noted that the scheme was initially successful, but has been mutilated by hospital management, resulting in pharmaceutical firms owing N18 billion in 2021 and N30 billion in 2023.
The motion reads: “Aware of the existence of the Drugs Revolving Funds (DRF), a National Contingency Plan designed to tackle the menace of out-of-stock syndrome in public pharmacy department and ensure that federal health institutions are adequately stocked with essential drugs for medically challenged Nigerians.
“Cognizant that a well-run Drugs Revolving Funds (DRF) tackled the menace of the out-of-stock syndromes in public pharmacy department”.
The lawmakers firtehr noted that the DRF scheme of the National Orthopedic Hospital, Igbobi (NOHI) which was flagship over a decade ago gave birth to a pharmacy house worth over N300 million in 2014 because the management of the hospital at the time gave the much-needed cooperation.
“The House is worried that this laudable initiative has been abused over a period of time through the accumulation of unpaid supplies from pharmaceutical firm under this funding arrangement, culminating in its eventual collapse.
“Concerned that the Pharmaceutical Society of Nigeria (PSN) had called on the past administration to probe the activities of the National Hospital, Igbobi affair in order to resuscitate the scheme.
“Unless the collapse of the drug revolving fund is addressed, as a matter of urgency, further supplies of these essential drugs to Federal Health Institutions will remain a pipedream, thereby increasing pressure on the already struggling healthcare system”, it added.
The House adopted the motion and mandated its Committee on Health Institutions to investigate the collapse of the drug revolving funds scheme and report back within four weeks for further legislative actions.
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Australian Cattle Farmer Jailed for Life Over Triple Murder in Cattle Dispute

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A 63-year-old cattle farmer, Darryl Valroy Young, has been sentenced to life imprisonment for murdering three neighbours and attempting to kill a fourth man during a cattle dispute in Queensland, Australia.

Young was sentenced on Monday by Justice Christopher Johnstone at the Supreme Court in Townsville after a jury convicted him last week of three counts of murder and one count of attempted murder.

The court imposed a 40-year non-parole period for the murders, meaning Young, who was 63 when sentenced, would not be eligible to apply for parole until he is 99.

He also received a 16-year sentence for the attempted murder of Ross Tighe, who survived after being shot. The sentences will run concurrently.

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The convictions stemmed from a shooting at the entrance to Young’s Shannonvale Station, near Bogie, on August 4, 2022.

Those killed were Mervyn Schwarz, 71; his wife, Maree Schwarz, 59; and Maree’s 35-year-old son, Graham Tighe. Graham’s brother, Ross, was wounded in the attack.

Prosecutors told the court that Young had accused the family of stealing his cattle and asked them to meet him at the entrance to his property.

According to the prosecution, Young confronted the group about the cattle before returning to his vehicle, retrieving a rifle and opening fire.

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Justice Johnstone described the offences as belonging to the worst category of criminal conduct and increased the standard 30-year non-parole period by 10 years.

The judge said Young had killed three members of the same family and attempted to kill another person with a degree of ruthlessness comparable to killing animals.

Seven victim impact statements were presented during the sentencing hearing, detailing the lasting emotional impact of the killings on the victims’ families.

Lucy Tighe, Graham Tighe’s widow, told the court that their children were only 14 months and three weeks old when their father was killed and continued to struggle with his absence.

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Kim Gibson, Maree Schwarz’s daughter, described the deaths of her mother and stepfather as devastating.

Young maintained his innocence throughout the trial, pleading not guilty to all four charges. He told the court he was not responsible for the shooting and had not been at the property gate when the victims were attacked.

His defence also challenged the evidence of Ross Tighe, the only surviving member of the group.

However, after a trial lasting nearly four weeks, the jury convicted Young on all three murder charges and, by an 11-1 majority, found him guilty of attempting to murder Ross.

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The killings followed a long-running dispute between Young and his neighbours over cattle. The court also heard that Young had previously served a prison sentence after being convicted of stealing more than 100 cattle.

Young has remained in custody since the 2022 shooting and will continue serving his life sentence, with the 40-year non-parole period keeping him ineligible to seek parole until he reaches 99.

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BREAKING: Dangote Refinery sets N5,250 minimum subscription for IPO

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Dangote Petroleum Refinery has formally executed agreements for its landmark Initial Public Offering (IPO), introducing a first-in-Nigeria subscription model that will allow retail investors to acquire shares in the mega-refinery for as little as ₦5,250.

The signing ceremony marks the official countdown to what is expected to be the largest equity offer in the history of the Nigerian capital market.

Under the transaction structure, Dangote Refinery is offering 4.1 billion ordinary shares to the public at ₦525 per share, seeking to raise approximately ₦2.157 trillion, or about $1.6 billion, to fund growth capital expenditure and support its continued operational expansion.

A central component of the offer is the push to broaden corporate ownership across Nigeria by lowering the entry barrier for retail investors and facilitating participation through digital distribution channels.

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The minimum subscription has been set at 10 shares, requiring an initial investment of just ₦5,250, while subsequent subscriptions will be made in multiples of 10 shares. (Arise News)

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2027: Defend Your Votes From Polling Unit To Final Results, Obi Begs Supporters

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The presidential candidate of the Nigeria Democratic Congress (NDC), Peter Obi, has begged Nigerians to turn out in large numbers for the 2027 general elections and defend their votes from the polling unit through to the final declaration of results.

Obi made the call in a post on his official X handle, following a series of engagements with party supporters, stakeholders and residents across Kogi, Benue and Enugu states.
The former Anambra State governor said he began the latest leg of his engagements in Olamaboro Local Government Area of Kogi State, where he met with stakeholders and party members alongside the NDC’s Kogi East Senatorial candidate, High Chief Peter Ameh.

According to Obi, the discussions centred on some of the major challenges confronting Nigerians, including insecurity, healthcare, education, unemployment and poverty.

He stated that his supporters must remain committed to the democratic process and play an active role in ensuring that their votes are protected.
“We urged our supporters to remain dedicated to the democratic process, turn out in large numbers to vote, and, above all, safeguard and defend their votes from the polling unit through the final declaration of results,” Obi said.

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The NDC candidate also visited Otukpa in Ogbadibo Local Government Area of Benue State and Obollo Afor in Enugu State, where he interacted with residents and traders operating along the routes.

He said the concerns raised during the engagements were largely similar, particularly the need for security, jobs, functional hospitals and schools, and opportunities for citizens to improve their livelihoods.

“Across all these engagements, the concerns expressed by our people remain essentially the same. They seek security in their communities, meaningful employment opportunities for our youths, access to properly functioning hospitals and schools for their children, and the means and resources to lead decent, dignified lives
“These are not excessive demands. They represent the basic expectations citizens hold of a government dedicated to their welfare. As we move forward on this journey, our message remains unequivocal: Nigeria can succeed, and government can be made to serve its people,” Obi said.

The ex-Anambra governor’s latest call came days after he told supporters at a town hall meeting in Port Harcourt, Rivers State, that he was prepared to stand with Nigerians seeking to protect their votes ahead of the 2027 election.
Responding to a supporter who said Nigerians were “ready to die” to defend their mandate, Obi said, “Don’t be intimidated.

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Somebody said, ‘We are ready to die.’
“Let me tell you, I’m equally ready to die. So you’re not alone.”
The presidential hopeful also warned that attempts could be made to manipulate the electoral process but expressed confidence that Nigerians would be better prepared to resist such efforts.

Obi is seeking the presidency for a second consecutive time after his 2023 run under the Labour Party, when he finished third with 6,101,533 votes behind Atiku Abubakar of the Peoples Democratic Party, who polled 6,984,520, and Bola Tinubu of the All Progressives Congress, who won with 8,794,726 votes.

Obi and the Labour Party challenged the result in court, alleging electoral irregularities. The Presidential Election Petitions Tribunal dismissed his petition in September 2023, while the Supreme Court subsequently upheld Tinubu’s victory.

Ahead of the 2027 election, opposition politicians have been engaged in realignment and coalition-building. This time, Obi has moved to the NDC, which unveiled him as its presidential candidate in May. He is running alongside former Kano State governor Rabiu Kwankwaso as his running mate.

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His major opposition rival, Atiku, is the presidential candidate of the African Democratic Congress (ADC), with former Rivers State governor Rotimi Amaechi as his running mate.
The incumbent president, Tinubu, will also be seeking a second term for the nation’s top job.
The 2027 general elections are scheduled to begin on January 16, 2027, according to the INEC timetable. The final voter register is expected on January 11, followed by presidential and National Assembly elections on January 16.

Political campaigns will end on February 18, with a possible runoff scheduled for February 28, while governorship and State Assembly elections are set for March 6, 2027.

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