States Reject Power Subsidy Removal Proposal

During a three-day retreat in Enugu State, members of a committee expressed unanimous rejection of the Federal Government's proposal to deduct N3.6 trillion from the federation account for electricity subsidies from 2026 to 2028. The communique highlighted concerns regarding the sustainability of the debt system and inefficiencies within the financial management framework.

It noted persistent revenue leakages and a lack of transparency in the deductions, which undermine the distribution of revenue among federal, state, and local governments. The committee acknowledged the Petroleum Industry Act (PIA) 2021 as an opportunity for improved governance but raised serious concerns about the management of joint venture assets by the Nigeria National Petroleum Company (NNPC).

The communique recommended strict compliance with Section 162 of the 1999 Constitution regarding federal revenue remittance and called for independent audits to restore confidence in the management of future federal revenues.