Economy
Senate Tasks Customs to Reduce Checkpoints for Flow of Goods
By Adedapo Adesanya
The Senate has asked the Nigeria Customs Service (NCS) to reduce the number of checkpoints at border communities to aid the free flow of goods.
This was part of recommendations at Tuesday’s plenary which followed the suggestions of an ad hoc committee, four months after setting up the committee to probe the alleged misuse of firearms.
It proposed that erring personnel who misuse their firearms at the nation’s borders should be punished.
Presenting the report at the parliament yesterday, the Chairman of the Committee, Mr Francis Fadahunsi, said the comptrollers at the Idiroko and Katsina borders should be replaced with new ones.
“[The] federal government should direct the comptroller-general of customs and other heads of security agencies to reduce the multiple checkpoints mounted in border communities,” Mr Fadahunsi said.
“It will aid the free flow of goods in and around the communities to the main town and around the markets in the border communities,” the lawmaker added.
The upper chamber of the National Assembly specifically asked the federal government to direct the Comptroller General of Customs, Mr Bashir Adewale, to reduce the multiple checkpoints in Katsina State to enable the free flow of goods in and out of the communities.
The Senate also adopted the recommendation that the Customs boss redeploy the controllers of Katsina and adopt modern technology in discharging its mandate.
“The Comptroller General of Customs should investigate and review the alleged issuance of unofficial receipts to traders and non-traders in Jibia and Mai’adua, Katsina State by officials of Customs and other security agencies.
“This act has caused untold hardship to people living in these communities, as moving of goods (farm produce) across major markets and even to Katsina town and other neighbouring states is a herculean task.
“The Comptroller General of Customs should redeploy the Comptrollers of Kastina/Kaduna and Idiroko Area Commands, and appoint replacements who should establish a good community engagement programme.
“This will create a healthy relationship, and make the customs realize its mandate without being insensitive to the yearnings and aspirations of the people of the communities in the state.”
By Adedapo Adesanya
President Bola Tinubu has signed the 2026 Appropriation Bill into law, authorising an aggregate expenditure of N68.32 trillion for the current fiscal year.
He also signed a separate bill extending the implementation period of the 2025 budget from March 31 to June 30, 2026.
The budget allocates N4.799 trillion for statutory transfers and N15.8 trillion for debt service.
It further sets aside N15.4 trillion for recurrent expenditure and N32.2 trillion for capital expenditure through the Development Fund.
In a statement signed by Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, on Friday, it was that, “The N68.32 trillion budget for this year earmarks N4.799 trillion for statutory transfers and N15.8 trillion for debt service. It allocates N15.4 trillion to recurrent expenditure and N32.2 trillion to the Development Fund for Capital Expenditure.”
“With capital expenditure accounting for about 50 per cent, the 2026 budget underscores the administration’s continued commitment to economic stability, national security, infrastructure development, and inclusive growth.
“The allocations reflect a strategic balance between statutory obligations, debt servicing, recurrent expenditure, and capital investments critical to driving productivity and improving the quality of life for Nigerians,” it added.
The 2026 Appropriation Act took effect on April 1, with the federal government commencing full implementation in line with what the presidency describes as the Renewed Hope Agenda.
President Tinubu also assented to the Appropriation (Repeal and Enactment) (Amendment) Bill, 2026, which extends the capital component of the 2025 Appropriation Act by three months to June 30.
The presidency said the extension would ensure the full utilisation of appropriated funds, particularly for critical infrastructure projects at advanced stages of implementation.
“The extension will ensure the full and effective utilisation of appropriated funds, particularly for critical infrastructure and development projects that are at advanced stages of implementation across the country.
“It will enable Ministries, Departments, and Agencies (MDAs) to consolidate ongoing works, enhance project completion rates, and maximise value for public expenditure,” the statement read.
He directed MDAs to ensure disciplined, transparent, and efficient utilisation of allocated resources, with strong emphasis on value for money and timely project delivery.
The President reaffirmed the importance of sustained collaboration between the Executive and Legislative arms of government in advancing national development objectives, the statement noted.
President Tinubu also assured Nigerians of his administration’s resolve to deepen fiscal reforms and boost revenue generation.
By Adedapo Adesanya
Pipeline Infrastructure Nigeria Limited (PINL) says Nigeria has lost an estimated $226.734 billion in revenue from stalled crude oil production in Ogoniland over the past 32 years.
The group at the company’s monthly stakeholders’ meeting in Port Harcourt called for an urgent, structured restart of operations in the region.
PINL described the resumption of oil production in Ogoniland as a “strategic national priority,” stressing that the process must be driven by host communities and grounded in environmental sustainability.
Speaking at the event, Mr Akpos Mezeh, General Manager, Community and Stakeholder Relations at PINL, said the scale of losses highlights both the cost of inaction and the opportunity ahead.
“Available data shows that over $226.734 billion has been lost due to the suspension of crude oil production from 96 oil wells in Ogoniland over the past 32 years. This clearly underscores both the economic cost of inaction and the immense opportunity that lies ahead,” he said.
Ogoniland, covered under Oil Mining Lease (OML) 11, has the capacity to produce over 500,000 barrels of crude oil per day. Production was halted in 1993 following unrest and environmental concerns linked to oil exploration activities.
PINL outlined key conditions for restarting operations, including active community participation, sustained environmental remediation, adoption of community-based security models, and prioritisation of economic inclusion.
“The position of PINL aligns with growing calls from stakeholders in the Niger Delta for the Federal Government to restart oil production in Ogoniland in a manner that balances economic benefits with environmental justice and community interests,” Mr Mezeh added.
He further affirmed the company’s readiness to support the process, stating: “At PINL, we stand ready to support this process by applying our experience in stakeholder engagement and infrastructure protection to ensure a peaceful, secure, and sustainable resumption.”
PINL maintained that with the right framework, resuming production in Ogoniland could significantly boost Nigeria’s crude output, increase government revenues, and support broader economic growth.
By Aduragbemi Omiyale
Additional shares of Champion Breweries Plc have been listed on the Nigerian Exchange (NGX) Limited.
A circular from the NGX Regulation Limited confirmed this development on Wednesday, April 15, 2026.
The new stocks of the brewery company came from its hybrid offer comprising rights issue and offer for subscription.
Through the two exercises, Champion Breweries issued fresh 2,375,615,342 ordinary shares of 50 Kobo each to subscribers, which were brought to the stock exchange for listing.
Business Post reports that 931,712,324 units arose from the rights issue of 994,221,766 ordinary shares of 50 Kobo each at N16.00 per unit, indicating a subscription rate of 93.71 per cent; and 1,443,903,018 units from the offer for subscription of 2,625,000,000 ordinary shares of 50 Kobo each at N16.00 per unit, reflecting a subscription rate of 55.01 per cent.
The listing of the new shares of the organisation has increased the total issued and fully paid-up shares to 11,323,611,234 ordinary shares of 50 Kobo each from 8,947,995,892 ordinary shares of 50 Kobo each.
“With this listing of the additional 2,375,615,342 ordinary shares of 50 Kobo each, the total issued and fully paid-up shares of Champion Breweries Plc have now increased from 8,947,995,892 to 11,323,611,234 ordinary shares of 50 Kobo each,” a part of the circular signed by the Head of Issuer Regulation Department of NGX RegCo, Mr Godstime Iwenekhai, stated.
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