Headline
Edo Govt. Clears Air On 13% Derivation Refund
Published
3 years agoon
By
Editor
The Edo State Government says it has received just N2.1billion so far out of the N28 billion accrued to the state from the backlog of one trillion naira 13 per cent derivation refund that is due to the oil producing states in Nigeria.
The state’s Commissioner for Finance, Budget, Economic Planning and Development, Mr. Joseph Eboigbe, disclosed this on Wednesday in Benin City at a press conference shortly after the State Executive Council meeting.
Evoigbe, flanked by Mr. Chris Nehikhare, Commissioner for Communication and Orientation and Mr. Crusoe Osagie, Special Adviser to Governor Godwin Obaseki on Media Project, said: “Edo State’s share of that figure was N28billion naira. A small figure out of the N1 trillion, that was what got to us.
“So, we have received three quarterly releases so far, N700 million, N700 Million, N700 million, totaling N2.1billion. That is what has come into the State’s coffers and it is verifiable in the bank, and the office of the Accountant-General has the records.
“Our share was N28 billion, the net is to be distributed over five years, quarterly, that will be 20 quarterly installment releases, three have come so far, each has been N700 million, N700 million, N700 million and how that money was spent again, we have the records for anybody that wishes to see.”
Providing a context for the derivation refund and how the money was established, the Commissioner explained: “The commissioners of finance in Nigeria under the aegis of the Federation Account Allocation Committee (FAAC), especially those from the oil producing States, we spotted the fact that there was an anomaly in the way federal government was spending money from crude oil and gas sales and not taking out derivation. So the work was done, and a total of about one trillion naira was established to the oil producing states.
READ ALSO: Account For 13% Oil Derivation Backlog Paid By Buhari, Wike N’Delta Governors
“It went through the whole process, the Economic Council approved, and the President approved and a distribution methodology was adopted from the Revenue Mobilization Allocation and Fiscal Commission (RMFAC) and they now established what was going to each State. Edo State’s share was N28 billion. What was also approved was the way and manner this money was to be distributed to the States.
“The net amount, again there are usually sundry deductions, so the net amount will come to each state over five years, each year you will have quarterly remittances which means four releases each year over five years. This disbursement was to start this year, but some States went to court with restraining order. Releases now started in October, just last month.
“What the Federal government did do was to keep the share of each State. So by the time they started releasing, Edo State got 2 tranches in arrears and what we got was 700 million per quarter, this is verifiable in our bank account just behind here at sterling bank.”
The Commissioner for Communication and Orientation,
Also speaking, Nehikhare emphasized that the Governor Godwin Obaseki-led administration will continue to apply all resources due to the State in the most frugal manner and in the best interest of Edo people.
“The state has consistently used our resources prudently. We are not using our money for fancy projects but for projects that have direct impact on the lives on the majority of our people,” Nehikhare stressed.
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Headline
10 African Countries With Highest Military Spending In 2025
Published
6 hours agoon
June 26, 2025By
Editor
The reality of African military spending in 2025 is shaped by geography, political dynamics, economic capability and regional threats.
Defence budgets across Africa are telling a story of evolving priorities. While some countries are pouring resources into modernising their armed forces, others are focusing on stabilising fragile internal structures or managing limited resources in the face of growing security threats. The top military spenders on the continent this year reflect this diversity in strategy and circumstance.
At the top of the list is Algeria, with a defence allocation of around $25 billion. This comes as little surprise given the country’s longstanding military tradition and its interest in maintaining regional dominance. Algeria has been particularly focused on modernising its air defence and acquiring advanced military hardware. With ongoing tensions involving its neighbour Morocco and instability in nearby Sahel countries, Algeria’s military investment is not only about deterrence but also about preparedness.
Morocco comes in second, spending approximately $13.4 billion on its defence sector. Much of Morocco’s budget is believed to go toward upgrading its air force and surveillance capabilities. The ongoing situation in Western Sahara continues to influence the country’s military posture, and Morocco has increasingly turned to Western suppliers for equipment. Its investment strategy also reflects a broader ambition to assert influence and ensure national security amid rising regional instability.
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Egypt remains a heavyweight in African military affairs, with nearly $6 billion dedicated to defence this year. The country maintains one of the largest and most experienced armed forces in Africa. Egypt’s strategic location and ties to global powers play a major role in shaping its military spending. Its focus areas include naval strength in the Red Sea, border protection, and counterterrorism operations in the Sinai region. A significant portion of Egypt’s budget also supports joint military exercises and maintaining long-term partnerships with Western allies.
Nigeria, Africa’s most populous country, is allocating around $3.1 billion to its military in 2025. Faced with persistent insurgencies in the northeast, rising cases of banditry, and threats to oil infrastructure, Nigeria is investing more in surveillance, tactical response, and mobility. However, despite the budget size, questions persist about how effectively these resources are managed. Internal inefficiencies and corruption have often limited the impact of military spending, although reforms are slowly gaining traction.
Libya, despite enduring years of political fragmentation and conflict, ranks fifth with $3 billion in defence expenditure. The country’s spending is shaped largely by the need to rebuild military institutions and secure borders that have long been porous. Though rival factions still hold sway in different regions, recent moves toward unification have led to increased central oversight of defence funding. Libya’s military priorities include stabilising key infrastructure, reducing foreign military involvement, and restoring national cohesion.
South Africa, with a budget of roughly $2.3 billion, is the highest spender in Sub-Saharan Africa after Nigeria. The country faces fewer direct security threats than others on this list, but it maintains a capable and relatively advanced defence sector. Budget limitations in recent years have led to ageing equipment and recruitment challenges. Even so, South Africa continues to contribute to regional peacekeeping missions and has been increasing its focus on cyber defence and modernisation through strategic planning.
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Ethiopia’s military spending stands at about $2.1 billion this year. Following recent internal conflicts, the country is focused on rebuilding and restructuring its military forces. Spending is expected to go toward restocking supplies, increasing professionalism in the ranks, and improving border security, particularly with Sudan and Eritrea. Given its geographic location and history of regional involvement, Ethiopia’s defence capabilities are considered crucial not only for internal stability but also for regional balance.
Tanzania is allocating approximately 1.4 billion dollars to its defence sector in 2025. Though not frequently in the headlines for security concerns, Tanzania quietly invests in protecting its borders, maintaining internal stability, and supporting African Union peacekeeping operations. Its military also contributes to anti-narcotics efforts and maritime safety, given its coastal location. Recent moves show a growing interest in enhancing training programs and building stronger ties with foreign partners for logistics and support.
Tunisia matches Tanzania’s budget with a similar figure of 1.4 billion dollars. In Tunisia’s case, much of the defence spending is directed toward counterterrorism and intelligence operations. The country has faced several security incidents over the past decade and has prioritised preventing extremist activities, particularly in remote border areas. Efforts have also been made to modernise internal security structures and improve cybersecurity, often with the support of international partners who view Tunisia as a strategic bridge between Africa and Europe.
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Kenya closes the list with a defence budget of $1.3 billion. The country has played a consistent role in regional peacekeeping, especially in Somalia. Its military priorities include border security, maritime surveillance, and improving response to terrorism-related threats in the northeastern regions. Kenya has been working to modernise its force structure, with growing investments in technology, training, and partnerships with countries that support its regional security mission.
Country Budget Military Rank in Africa
1 Algeria $25.0 billion 1st
2 Morocco $13.4 billion 4th
3 Egypt $5.9 billion 2nd
4 Nigeria $3.1 billion 3rd
5 Libya $3.0 billion 9th
6 South Africa $2.3 billion 5th
7 Ethiopia $2.1 billion 6th
8 Tanzania $1.4 billion 10th
9 Tunisia $1.4 billion 8th
10 Kenya $1.3 billion 7th
Headline
Africa Loses $7bn Annually On Medical Tourism – Afreximbank
Published
6 hours agoon
June 26, 2025By
Editor
The African Export-Import Bank (Afreximbank) says Nigeria and other African nations are losing billions of dollars annually to medical tourism.
Afreximbank’s Export Development Managing Director, Mrs Oluranti Doherty, made the assertion while speaking at the 32nd Afreximbank Annual Meetings (AAM2025) in Abuja on Thursday.
Doherty said the trend was hindering economic development and local healthcare infrastructure.
She identified the soaring costs of medical tourism as a major drain on African economies.
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According to her, Nigeria alone loses an estimated $1.1 billion annually to medical tourism, while the entire African continent collectively forfeits approximately $7 billion yearly.
“We had our member countries losing a lot of foreign exchange to medical tourism.
“We just talked about Nigeria, where our medical tourism annually is about $1.1 billion.
“The entire continent is about $7 billion just because we can’t help ourselves with ourselves when we come up with chronic diseases.
“ That’s money that’s going to other economies, building up their institutions,” she said.
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She noted that the capital outflow diverts funds that could be invested in local healthcare.
Doherty added that the development contributes to a “brain drain” of skilled medical professionals from the continent.
“Another thing we noted was a great way we were losing a lot of our good talents.
“The best of talents in the health sector were going out of the continent, working in places such as India, Asia, Middle East, America, and that often was an issue,” she said.
Doherty said the bank launched its Health and Medical Tourism Programme in 2012 long before the broader recognition of healthcare’s connection to economic security in response to the challenge.
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“Afreximbank was innovative. I call us the innovative financier, innovative investors.
“We recognised this part since 2012 and we set about doing something about it.
“A key initiative borne from this foresight is the Africa Medical Center of Excellence (AMCE) in Abuja, a 170-bed facility boasting state-of-the-art equipment, including an 18 MeV cyclotron, a three-Tesla MRI, and a 20-bed ICU.
“Afreximbank has invested over $450 million to establish and scale up this project,” she said.
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The official praised the leadership behind the AMCE, noting, “Afreximbank had to go where no one has gone before; Afreximbank’s leaders adhered to the dreamers.
“The AMCE aims to provide healthcare services comparable to global standards, not just African standards.
“I’m talking about global standard. I’m talking about Africans coming up with solutions to challenge,” she said.
She, however, stressed the need to build trust in local healthcare facilities and ensure access for all to stem medical tourism.
Headline
Court Remands Teacher Over Alleged Sexual Assault On 2 Pupils
Published
6 hours agoon
June 26, 2025By
Editor
An Ikeja Chief Magistrates’ Court on Thursday remanded a 27-year-old teacher, Wisdom Anokwuru, in Kirikiri Correctional Centre over alleged sexual assault on two pupils.
The Chief Magistrate, Mrs O.O Kushanu, who did not take Anokwuru’s plea, ordered that the file should be sent to the Director of Public Prosecutions for advice.
Kushanu adjourned the case until Sept. 15 for mention.
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The defendant, who resides at No. 5, Goodluck Avenue, Ibaranje, Ikotun, Lagos, is facing a charge of sexual assault.
Earlier, the Prosecutor, ASP Adegoke Ademigbuji, told the court that the defendant committed the offences on June 17 at a private school in Ikotun, Lagos.
Ademigbuji said that the defendant took the girls, both 8-year-old to the school library and touched their private parts.
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He said that the defendant also showed the girls a porn video on his phone.
Ademigbuji said the girls later informed the school administrator and the defendant was subsequently arrested.
The prosecutor said offences contravened Sections 135 and 171 of the Criminal Law of Lagos State, 2015.(
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