Business
Senators, Reps query NCC over secret recruitment, arbitrary funds increase

Federal lawmakers on Monday queried arbitrary increase in the financial provisions for payment of consultancy service of Nigerian Communications Commission (NCC), and N29.195 billion proposed for payment of salaries and wages in the 2021 fiscal year, against the sum of N16.850 billion approved in the 2020 fiscal year.
Members of the Joint Senate and House of Representatives’ Committee on Telecommunications, who raised the red flag during the 2020 budget performance and 2021 budget defence presented by the NCC Executive Vice Chairman, Umar Dambatta, also demanded an explanation over the increase in the consultancy services of N1bn proposed for 2021 against the sum of N394.331 million approved in the 2020 Appropriation Act.
One of the aggrieved lawmakers, who queried the Director of Finance and Administration’s report on the wide variance between the proposed N29.195 billion salaries and wages for 2021 and N16.850 approved for 2020 in relation to the 300 staff recruited by the commission, alleged that “you employed people but it was done through the backdoor.”
Hon. Siaka Adekunle Ayokunle alleged that “a lot of things are shredded in secrecy here”, expressed concern over the difference between the projected revenue and expenditure,
Senator Emmanuel Orker-Jev who expressed concern over the recruitment of the 300 workers, stressed the need for the commission to provide the nominal roll with a view to ascertaining the actual number of employees and adherence to federal character policy.
Dambatta, who was asked by the Director of Finance and Administration to provide details of the budget performance for the year under review, had said the budget performance as of November 30, 2020 showed the total budget of N140.383 billion, but the actual came to N79.660 billion.
He said, “For the expenditures (recurrent), a total recurrent expenditure that was budgeted was N39.297 billion and what was spent was N28.5 billion.
“Under the capital project, the total capital expenditure was budgeted at N8.129 billion and the actual as at 30th November was N1.427 billion.
“For special projects, the total budget was N20.863 billion and what has been spent so far is N13.65 billion.
“For total capital project, the budget was N28.9 billion and what was spent was N1.4 billion; Transfer to USPF, N7.5 billion was projected and N5.583 billion was spent.
“For Transfer to Federal Government of Nigeria, N64.208 billion was budgeted and N35.7 billion was remitted.”
On the revenue side, the commission realised total sum of N167 million out of N1.5 billion budgeted for licensing fees; realized N51.5 billion out of N68.5 billion for annual operating levy; realized N22.778 billion out N47.653 billion budgeted.
From the documents presented to the joint committee, proposed total revenue expected for 2021 stands at N112.810 billion and an additional sum of N49.527 billion from funds for broadband infrastructure and transfer from reserve (totalling N162.067 billion for 2021), against the sum of N123.132 billion and an additional sum of N17.252 billion from funds for broadband infrastructure (totalling N140.384 billion) for year 2020.
The total recurrent is also expected to rise from N39.297 billion in 2020 to N61.541 billion in 2021; total capital and special expenditure are to rise from N28.993 billion in 2020 to N51.524 billion in 2021; showing an overall increase in the Commission’s total expenditure from N68.290 billion in 2020 to N113.065 billion in 2021 as proposed.
The commission’s projected transfer to the Federal Government for the year 2021 is N42.002bn against N64.208bn for the year 2020 out of which N29.697bn has so far been remitted, in addition to N5.5 billion paid recently.
Chairman, House Committee on Telecommunications, Hon. Akeem , said, “Legislative approval to budget proposal is a cardinal ingredient of democratic practice. It provides a window of checks on the expenditure profile of the Executive, so the people, through their representatives have a say on how the Executive arm of government runs the government as part of the checks and balances of governance.
“It is pursuance to this that we are here to examine your proposal for 2021. The extent to which your commission was able to meet its 2020 budget responsibility will also be examined to identify if they were problems and how to resolve them where they exist.”
Adeyemi who directed the NCC management team to provide the nominal roll for further legislative action, said the “Committee will call for interactive session sometimes next year with the view to addressing some of the concerns raised.”
Dambatta promised that the nominal roll would be made available to the committee as requested.
Railway
Cargo train: NRC targets April for 100% Lagos-Kaduna dry port movement

Cargo train: NRC targets April for 100% Lagos-Kaduna dry port movement
The Nigerian Railway Corporation (NRC) has fixed the beginning of second quarter 2025 for full operations of its cargo train movement from Lagos to Kaduna Inland Dry Port.
This was disclosed in a video clip shared on the official X (formerly Twitter) account of the NRC on Saturday.
Managing Director of the NRC, stated in the video that while logistical operations had been put in place, some non-logistical issues needed to be addressed to ensure the seamless movement of goods via both narrow and standard gauge rail lines.
“There are little issues which are not related to logistics that needed to be cleared out.
However, bearing all circumstances, we are determined that the Nigerian Railway Corporation will ensure that the movement of goods along both narrow and standard rail lines is at maximum. “So, we are committed to ensuring that the movement of goods from Lagos to this dry port is achieved somewhere at the beginning of the second quarter,” Opeifa said.
He added, “We believe that all other issues related to other agencies of government would have been resolved and working with them should be able to ramp up, not to 70% but to 100%.”
Managing Director of Inland Containers Nigeria Limited, Omotayo Dada, also featured in the video and expressed optimism that within a few quarters, productivity at the Kaduna Inland Dry Port would increase significantly.
“We are optimistic that within a couple of quarters, before the year runs out, productivity would even increase by about 70%,” Dada said.
The Kaduna Inland Dry Port, commissioned in 2018, was established as a major logistics hub for exports, particularly agricultural products.
However, it has been operating below capacity, handling fewer containers than initially expected.
Over the years, container movement between Apapa Port and the Kaduna Inland Dry Port has been intermittently suspended for various reasons. Notably, in September 2020, operations were halted due to the rehabilitation of railway tracks, disrupting freight transport.
In a broader effort to improve freight connectivity between the southwestern seaports and inland regions, the Federal Executive Council (FEC) recently approved a $45.3 million contract for a feasibility study and engineering design of a new rail corridor.
The planned alignment will extend from Badagry Deep Sea Port through Tin Can, Apapa, and Lekki Seaports, reaching Ijebu-Ode and Kajola, where it will integrate with the Lagos-Kano-Maradi Railway Modernization Project.
Business
N’Assembly approves N14.3tn for debt service out of N45.9tn 2025 budget

N’Assembly approves N14.3tn for debt service out of N45.9tn 2025 budget
The National Assembly on Thursday passed N45.9 trillion as budget for the 2025 fiscal year, setting aside N14.317 trillion for debt servicing.
Both chambers of the assembly agreed to jerk up the budget by N719.5bn over what the executive submitted for approval.
President Bola Tinubu had initially proposed a N49.7 trillion budget but later revised it to N54.2 trillion before seeking legislative approval.
A breakdown of the N14.317 trillion total debt servicing showed that N7.191 trillion is for domestic debts (including Ways and Means), N6.749 trillion is for foreign debts, and N377.299 billion is for sinking funds to retire maturing promissory notes.
Newstrends discovered from a document of the Federal Ministry of Finance that Nigeria’s total debt as of the second quarter of 2024 “grew in naira terms to N134.3 trillion ($91.3 billion) from N121.7 trillion ($91.5 billion) in Q1 2024, driven mainly by exchange rate devaluation.”
Apart from debt service, the approved budget also showed N3.645 trillion for statutory transfers, N13.64 trillion for recurrent expenditure, and N23.963 trillion for capital expenditure (development fund), with a fiscal deficit put at N13.08 trillion.
Under the statutory transfers, National Judicial Council gets N521.626 billion, Niger Delta Development Commission gets N626.533 billion, South East Development Commission gets N140 billion, North West Development Commission gets N145.607 billion, South West Development Commission gets N140 billion, South-South Development Commission gets N140 billion and North Central Development Commission gets N140 billion.
The Universal Basic Education Commission gets N496.842 billion, National Assembly gets N344.853 billion, Public Complaint Commission gets N14.460 billion, Independent National Electoral Commission gets N140 billion, National Human Rights Commission gets N8 billion, North East Development Commission gets N240.988 billion while Basic Health Care Provision Fund gets N298.421 billion, respectively.
From the recurrent (non-debt) expenditure, Presidency gets N111.094 billion, Ministry of Defence gets N2.510 trillion, Ministry of Police Affairs gets N1.226 trillion, Ministry of Interior gets N658.586 billion, National Security Adviser gets N335.975 billion, Ministry of Education gets N1.159 trillion, Ministry of Youths gets N442.271 billion, Ministry of Foreign Affairs gets N286.887 billion, Information and National Orientation gets N75.887 billion, among others.
Under the Capital expenditure, Presidency gets N144.485 billion, Ministry of Defence gets N604.917 billion, National Security Adviser gets N316.864 billion, Secretary to the Government of the Federation gets N155.812 billion, Ministry of Agriculture and Food Security gets N1.201 trillion, Ministry of Finance gets N892.939 billion, Ministry of Works gets N2.045 trillion, Ministry of Water Resources and Sanitation gets N578.398 billion, FCTA gets N229.625 billion, Ministry of Education gets N953.931 billion, Ministry of Health and Social Welfare gets N1.154 trillion, Ministry of Humanitarian Affairs and Poverty Alleviation gets N291.548 billion, among others.
Under the Multilateral/Bilateral loan funded projects, Ministry of Power receives N1.307 trillion; Ministry of Interior, N400.630 billion; Ministry of Communications, Innovation and Digital Economy, N400.630 billion; FCTA N235.369 billion; Ministry of Finance N236.657 billion; Ministry of Agriculture and Food Security, N208.466 billion; Ministry of Education, N193.098 billion; Ministry of Health and Social Welfare gets N56.489 billion, among others.
Business
MTN apologises, says 200% data price increase a mistake

MTN apologises, says 200% data price increase a mistake
MTN, Nigeria’s largest telecom operator, has issued a public apology to its customers following widespread complaints about a sudden 200% increase in the price of its popular 15GB data package.
The price increase, which requires internet subscribers to pay N6,000 for a 15GB weekly data plan, a 200% increase from the previous N2,000, surprised many customers and sparked fury on social media on Wednesday.
In a message posted on social media on Thursday, MTN acknowledged its customers’ unhappiness in an informal, conversational tone and sought to address the rising anger among users who had become accustomed to the previously given low prices.
The message read, “To our 15G digital bundle lovers. You are vexed. We know. We know how upsetting it must have been to suddenly wake up to a 200% increase on your favorite digital bundle.
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“We could share several reasons and provide explanations, but omo, all that one is a story. We don’t cast. We get it and admit it. Let’s just say it was a mistake.”
MTN extended its apologies by imploring consumers not to be unhappy, adding, “In this love season, don’t stay furious with us. Kindly forgive and forget. You are important to us, and we will never stop showing you that. Let us continue our relationship.
“Thank you for your understanding.”
For the time being, only MTN has raised its tariffs, but Airtel and Globacom are anticipated to follow suit after the Nigerian Communications Commission approved a 50% tariff increase in January.
However, the Nigeria Labour Congress (NLC) has slammed telecommunications companies’ execution of a 50% pricing hike, seeking an immediate reversal.
MTN apologises, says 200% data price increase a mistake
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