General
Unemployment: Atiku Suggests Payment of N5000 Stipend
By Dipo Olowookere
Former Vice President Atiku Abubakar has advised the federal government led by President Muhammadu Buhari to consider paying a N5000 stipend to every family in Nigeria.
However, he emphasised that the beneficiary family must be the one with at least one school-age child and earning less than $800 (N328,000 at I&E rate of N410/$1) per annum.
In a statement issued by the media team of Mr Atiku over the weekend, it was suggested that the N5,000 stipend should be paid by the government to the families “via their BVN and NIN on the condition that they verifiably keep their children in school.”
The former Vice President noted that if this is done, as he earlier advised last year, the country would be solving the twin issue of youth unemployment and a high rate of out of school children, which currently stands at 13.5 million.
“If we do not do this, then the floodgates of unemployment will be further opened next year, and in the years to come,” he warned.
Mr Atiku further stressed that the unemployment rate, which the National Bureau of Statistics (NBS) recently put at 33 per cent, is the root cause of the “unprecedented insecurity Nigeria is facing.”
“Idleness is the worst feature of unemployment because it channels the energy of our youth away from production, and towards destruction, and that is why Nigeria is now the third most terrorized nation on earth,” he noted.
But he said “the fastest way to bring down a world record unemployment rate is via incentivised education. An educated citizenry is more employable and more self-employable.”
“Increased education has been scientifically linked with lower rates of crime and insecurity, along with lower infant and maternal mortality, and a higher lifetime income.
“We must then incorporate those youth who are above school age into a massive public works programme.
“There was talk of 774,000 Special Public Works jobs for the youth, which was to have started in January of 2021. This is a commendable step, but it must be done with proper agenda, rather than propaganda,” he submitted.
Policy already exists
Business Post recalled that in the build-up to the 2015 general elections in Nigeria, the ruling All Progressives Congress (APC), then an opposition party, promised to pay N5,000 monthly to poor Nigerians. This was hailed by many and caused the party to be massively voted for by the electorates.
A year after it gained power, the administration of Mr Buhari announced that N65 billion has been approved for the payment of N5,000 monthly stipend to Nigerians under the Conditional Cash Transfer scheme of the National Social Investment Programme of the government.
The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, who was then the Minister of State for Budget and National Planning, had said after a Federal Executive Council (FEC) meeting that the N65 billion was part of the N150 billion approved by the steering committee of the programme.
“Focus has been given to the extremely poor and vulnerable in our society and special emphasis is being placed to providing as many as possible in the North-Eastern part of the country where a lot of Internally Displaced Persons (IDPs),” she had informed reporters then.
Refinery rehabilitation
While commenting on the proposed plans by the central government to rehabilitate the Port Harcourt refinery with $1.5 billion, the candidate of the opposition Peoples Democratic Party (PDP) in the 2019 presidential election described it as unnecessary and “ill-advised” because the facility has “failed to turn a profit for years” despite the huge funds sunk into it for turnaround maintenance.
He maintained that, “As a nation, we are better off privatising our refineries and the NNPC (Nigerian National Petroleum Corporation) through the time-tested LNG model in which the FG owns 49 per cent equity and the private sector 51 per cent.”
“Recall that in 20 years ending 2020, the NLNG had delivered $18.3 billion dividends to government irrespective of taxes and other benefit accruals to the country.
“This will not only free the government of needless spending but also clean up the infrastructure mess in the petroleum downstream sector,” he said.
By Adedapo Adesanya
The Federal Competition and Consumer Protection Commission (FCCPC) has sealed the premises of an entity operating under the name Community Crime Prevention Initiative of Nigeria (CCPIN) in Aba, Abia state.
In a statement on Thursday, Mr Ondaje Ijagwu, FCCPC’s director of corporate affairs, said the enforcement operation took place on Wednesday at Number 214 Aba-Owerri Road, in collaboration with law enforcement agents.
Mr Ijagwu said FCCPC’s action followed credible intelligence that CCPIN was falsely claiming affiliation with the commission and misleading the public by representing itself as an “authorised consumer protection NGO”.
“The entity had issued public notices alleging joint surveillance operations with FCCPC and was soliciting consumer complaints through unauthorised telephone lines,” the statement reads.
“During the operation, the operator of the facility, Dr Onwuka K. Okorie, was arrested on-site and is currently in police custody at World Bank Police Station, Abayi-Aba, Abia State, pending further investigation and prosecution.
“A number of exhibits bearing FCCPC’s name, logo, and false enforcement materials were recovered from the premises.”
The official said the commission has no affiliation with CCPIN and does not authorise or partner with the group or any similarly styled organisation for enforcement or consumer protection operations.
He added that FCCPC does not delegate such enforcement powers to NGOs, private entities, or individuals without formal legal authorisation.
Mr Ijagwu advised the public to disregard any announcements, sealing notices, or consumer-related campaigns issued by CCPIN or its representatives.
“To verify any enforcement or communication, members of the public can contact the Commission through its hotlines: 08056002020 and 08056003030. Official FCCPC activities and communications can also be verified via fccpc.gov.ng or social media handles (@fccpcnigeria),” he added.
The recognised consumer protection body also reaffirmed its commitment to operating with the highest level of transparency while ensuring consumer protection and market integrity.
By Adedapo Adesanya
The Nigerian Navy Ship (NNS) Pathfinder has dismantled nine illegal refining sites in Ogba/Egbema/Ndoni Local Government Area of Rivers State, seizing over 170,000 litres of suspected stolen and illegally refined petroleum products.
This is the latest in a long series of efforts to curb oil theft hampering crude oil production and economic growth in Africa’s largest oil producer.
The operation, carried out yesterday (Wednesday) uncovered a sprawling network of criminal infrastructure, including 45 ovens, 30 reservoirs, and 75 dugout pits, according to Commodore Cajethan Nnabuchi Aniaku, Commander of NNS Pathfinder.
He revealed that the illegal sites were stocked with approximately 60,000 litres of suspected stolen crude oil, 80,000 litres of illegally refined Automotive Gas Oil (AGO) known as diesel, and 33,000 litres of kerosene.
He said, “During the operation, the Tactical Riverine Assault Squadron Team acting on credible intelligence discovered two wellheads connected with pipes used for siphoning crude oil to illegal camps.
“The team dismantled the connected pipes to the wellheads and destroyed the illegal refining sites. The products were handled in accordance with anti-crude oil theft procedures,” he added.
The outfit could not make any arrests as the perpetrators fled on sighting the patrol team, the scale of the seizure underscores the magnitude of oil theft operations still active in the Niger Delta.
Commodore Aniaku praised the bravery and professionalism of the personnel involved and reaffirmed the Navy’s unwavering resolve to stamp out economic sabotage.
“Under the leadership of Vice Admiral E. I. Ogalla, the Nigerian Navy remains committed to combating crude oil theft and illegal bunkering activities which pose significant threats to the nation’s economy and energy security,” he stated.
The latest crackdown comes as the Navy intensifies its riverine operations across the oil-rich region, aligning with national efforts to boost crude production and plug revenue leakages caused by pipeline vandalism and illegal refining.
By Adedapo Adesanya
Brazilian state oil company, Petrobras, is seeking a return to Nigeria’s oil sector with a renewed focus on frontier deepwater exploration.
This came as part of efforts to strengthen ties between both countries.
In a statement on Wednesday, Mr Stanley Nkwocha, Senior Special Assistant to the President on Media and Communications, announced that the development came during an interministerial review meeting.
The meeting, chaired by Vice President Kashim Shettima at the Presidential Villa in Abuja, was held to prepare for the second session of the Nigeria-Brazil Strategic Dialogue Mechanism (SDM) in June 2025.
Petrobras, the equivalent of Nigerian National Petroleum Company (NNPC) Limited, had previously wound down its Nigerian operations at the Agbami Field.
Now, with renewed economic reforms under President Bola Tinubu, the company is actively engaging the Nigerian authorities for fresh investment opportunities.
Speaking at the session, Vice President Shettima underscored the strategic importance of Nigeria’s relationship with Brazil, especially as Brazil prepares to host a series of global summits this year.
Providing further insight into Petrobras’ return, Minister of Foreign Affairs, Mr Yusuf Tuggar, confirmed ongoing discussions with the state owned oil company.
“Apart from ethanol, which they are hoping to engage the NNPCL for blending, Petrobras is also being actively engaged, and we expect they will form part of the delegation to Nigeria,” Mr Tuggar said.
“Petrobras is no longer active in Nigeria, but they are very keen on coming back. They said they want frontier acreage in deep waters.”
Brazil is one of the leading crude oil producers in the world and the largest in Latin America, producing 3 million barrels of crude oil per day.
In addition, the country has proven oil reserves of over 12 billion barrels, primarily located offshore in the Atlantic Ocean.
Petrobras dominates the sector, especially in offshore exploration and production but has joint ventures with international oil companies such as Shell, TotalEnergies, Equinor, and Chevron.
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