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Tinubu Endorsed FCT’s N1.1trn Budget – Wike says it ‘ll be impactful
President Bola Tinubu has approved the Federal Capital Territory’s over N1.1trn statutory budget for the 2024 fiscal year.
The FCT minister, Nyesom Wike, disclosed this during an ongoing media chat at his office in Abuja on Tuesday.
He expressed delight over the assent by the president, and explained that the budget will impact on infrastructure development, healthcare facilities, as well as rehabilitation of schools in the FCT, amongst others.
The development comes on the heels of the FCT appropriation bill passing the second reading at the Senate last month.
A breakdown analysis of the N1.1trn budget, indicated that N280bn was earmarked for overhead, N726bn for capital projects, and N140bn for personnel, bringing the total budget to N1.147tn.
Leading the debate, the sponsor of the bill and Senate Leader, Opeyemi Bamidele, said the appropriation bill took into cognisance the FCT administration’s revenue and expenditure forecasts which are in tandem with fiscal and developmental policies of the Federal Government.
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Explosion rocks Trump’s Las Vegas hotel on New Year’s Day
A Tesla Cybertruck filled with fuel canisters and firework mortars has exploded outside the Trump Hotel in Las Vegas, Nevada, BBC reports.
It was gathered that the driver of the Cybertruck died during the incident while about seven persons were left injured.
Reports said that the truck was rented in Colorado and arrived in the city Wednesday morning, less than two hours before the unfortunate incident occurred.
The police stated that the vehicle, which was parked in front of the hotel near a glass entrance, started gushing out smoke, then exploded.
President Joe Biden in an address, said the White House was tracking the incident, stressing that the law enforcement was investigating whether there was a link to the attack in New Orleans.
It had reported that a vehicle on New Year’s Day ran into a large crowd in New Orleans, leaving at least ten persons dead while over 30 others were injured.
President Biden had while reacting to the New Orleans incident in a post on his official X handle, said the “FBI is taking the lead in investigation” describing the incident as an “act of terrorism”.
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U.S. police investigate motive in New Orleans truck attack
Investigators in New Orleans were on Thursday, January 2, 2025, searching for what motivated a United States Army veteran flying an ISIS flag from his truck to plough into a crowd of New Year’s revellers.
15 people were killed, while 30 persons were injured before the assailants died in a shootout with police.
The probe was focused on whether the suspect, Shamsud-Din Jabbar, 42, a U.S. citizen from Texas who once served in Afghanistan, had help in planning the deadly attack on a city that will host the NFL Super Bowl next month.
FBI officials said they were also looking for any links between the deadly attack and a separate incident on Wednesday in which a Tesla Cybertruck exploded in flames outside the Trump International Hotel in Las Vegas, just weeks before President-elect Donald Trump returns to the White House on January 20.
The New Orleans attack injured about 30 other people, including two police officers wounded by gunfire from the suspect, taking place a mere three hours into the New Year in the historic French Quarter.
The victims included the mother of a 4-year-old who had just moved into a new apartment after getting a promotion at work, a New York financial employee and accomplished student-athlete who was visiting home for the holidays and an 18-year-old aspiring nurse from Mississippi.
“There were people everywhere,” Kimberly Strickland of Mobile, Alabama, said in an interview.
“You just heard this squeal and the rev of the engine and this huge loud impact and then the people screaming and debris – just metal – the sound of crunching metal and bodies,” he added.
Meanwhile, authorities vowed to continue to search for any evidence that Jabbar had accomplices.
One New Year’s Day tradition – the classic college football known as the Sugar Bowl – was rescheduled for Thursday afternoon. Kickoff for the game between Notre Dame and Georgia was put off for nearly 24 hours while police swept parts of the city looking for possible explosive devices and converged on neighborhoods in search of clues.
The city will also host the NFL Super Bowl on February 9, Reuters reported.
Police found weapons and a potential explosive device in the vehicle, while two potential explosive devices were found in the French Quarter and rendered safe, the FBI said.
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Reactivated refineries : Obasanjo queries their capacities
Ex- Nigerian President Olusegun Obasanjo has made fresh assertions about the management of government-owned refineries in Nigeria, criticizing the Nigerian National Petroleum Corporation Limited (NNPCL) and raising concerns about its capacity to operate the refineries effectively.
In an interview with Channels Television, published on Thursday, Obasanjo questioned recent claims by President Bola Tinubu’s administration that the refineries have resumed operations.
He expressed skepticism, using a Yoruba proverb to emphasize that those who lie about their accomplishments will eventually be forced to confront the truth.
Shell’s Rejection and a Missed Opportunity
Obasanjo recalled his efforts during his presidency to involve Shell in managing the nation’s refineries. Despite his offer, Shell declined, citing concerns about the operational inefficiency and political challenges surrounding the facilities.
He also shed light on a missed opportunity in 2007 when billionaire businessman Aliko Dangote and his team offered $750 million to manage the Port Harcourt and Kaduna refineries under a Public-Private Partnership (PPP). Obasanjo negotiated the deal, only for his successor to reject it and refund Dangote’s investment. The rejection, according to Obasanjo, was based on assurances from the NNPCL that it could handle the refineries. However, Obasanjo firmly asserted that the corporation lacked the expertise and capacity to fulfill such promises.
Despite his criticism of the NNPCL, Obasanjo expressed faith in Dangote’s ability to manage the privately owned Dangote Refinery in Lagos. Highlighting Dangote’s track record as an entrepreneur, Obasanjo noted that private sector-led initiatives are often more efficient and less burdened by bureaucratic challenges than government-run enterprises.
Refineries and Nigeria’s Oil Sector
Obasanjo’s remarks reignite longstanding debates about the effectiveness of Nigeria’s approach to managing its oil sector. Many observers argue that government-owned refineries have struggled due to poor maintenance, mismanagement, and corruption. While privatization and public-private partnerships have been proposed as solutions, successive administrations have often resisted such measures, citing concerns over national sovereignty and control.
The Bigger Picture
Obasanjo’s criticism comes at a time when Nigerians are grappling with high fuel prices and economic challenges. His statements could further fuel discussions on the need for structural reforms in the oil and gas sector. Meanwhile, the success of the Dangote Refinery, expected to be a game-changer for Nigeria’s refining capacity, may serve as a benchmark for what private sector participation can achieve.
This candid reflection by the former president underscores the importance of leadership, transparency, and innovation in addressing Nigeria’s long-standing energy challenges.
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