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MDAs to Spend N400Bn Before January 2014

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Ngozi Okonjo-Iweala, Coordinating Minister for the Economy
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Ministries, departments and agencies (MDAs) of the federal government have a balance of N400 billion to be spent before the end of the year according to the 2013 budget, Dr. Ngozi Okonjo-Iweala, minister of Finance, has said.

Okonjo-Iweala told the Joint Senate Committee of Finance and Appropriations meeting on 2013 budget Monday that some N1.01 trillion out of N1.05 trillion  realised, had been released, leaving the balance of N400 billion.

The meeting was called to address the allegation of bloated revenues estimates.

According to the minister, the total inflow from the Excess Crude Account stood at $14.36 billion while the outflow of $9 billion had been shared among the three tiers of government and for the payment of oil subsidy.

She further said that $1 billion was paid into the Sovereign Wealth Fund, leaving a balance of $4.3bn.

She explained that utilisation rate of what had been released stood at 72 per cent.

The minister said, “This means that we still have in excess N26 billionn waiting to be used by MDAs. On top of that we are now releasing N150billon. We should have up to N400billion still waiting to be utilised before the end of the year. This is because the money for the past three quarters had not been fully utilised.”

Okonjo-Iweala said the Federal Government had paid oil subsidy to oil marketers through the Petroleum Products Prices Regulating Agency.

But she clarified that the money paid to the oil marketers through the PPPRA was for the subsidy on the Premium Motor Spirit (petrol) alone.

She said “I am really very clear that the payment is for petrol. I think the Nigerian National Petroleum Corporation should answer the question on whether subsidy is paid on kerosene. I can answer for what we pay, based on what we receive from PPPRA.”

The minister noted that the activities of crude oil thieves in the Niger Delta greatly affected revenue projection from the oil sector while the government policies slowed down revenues from the non-oil sector.

She hinted that President Goodluck Jonathan had set up a committee headed by Delta state Governor Emmanuel Uduaghan, to address the issue.

Members of the committee, according to Okonjo-Iweala, included all the governors in the Niger Delta region; the Minister of Petroleum, Minister of Finance, the NNPC, heads of the arms of the military and other security agencies.

She said, “We have been very open and clear on the issue of shortfall in crude oil production. The Federal Government is committed to the issue of shortfall in production. We hope the work of the committee will go a long way to tackle the problems, including the shutting down of oil pipeline.

“There are two pipelines being controlled by Shell that had been completely shut down. If these could be revived, it will go a long way to address the issue at hand. We hope the effort of the committee will bring hope.”

On the losses being experienced in the non-oil sector, the minister said that Customs had identified how government policies were slowing down revenue projection.

She stressed that the Federal Government was making efforts to block loopholes so that the non-oil sector could also generate in the required revenue.


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NITDA Strengthens Collaboration with NIPSS to Drive Digital Innovation, Orange Economy Growth

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The National Information Technology Development Agency (NITDA) has reinforced its commitment to advancing Nigeria’s digital transformation agenda through strengthened collaboration with key strategic institutions, as it hosted the Director General of the National Institute for Policy and Strategic Studies (NIPSS), Professor Ayo Omotayo, alongside participants of the Senior Executive Course (SEC) 48, 2026.

The visit, which builds on an earlier strategic study tour, provided a platform for in-depth engagement on the role of digital innovation in driving sustainable economic growth, with particular focus on the Orange Economy.

Representing the Director General of NITDA, Kashifu Inuwa CCIE, the Director of Stakeholder Management and Partnerships, Dr Aristotle Onumo, highlighted the Agency’s commitment to fostering a vibrant digital ecosystem through inclusive policies, strategic partnerships, and capacity development initiatives.

“NITDA is committed to creating an enabling environment where innovation can thrive by bringing together government, private sector, academia, and creatives to drive Nigeria’s digital economy,” he stated.

Inuwa underscored the growing importance of the Orange Economy, describing it as a critical driver of innovation and economic value through intellectual property. He identified sectors such as digital content creation, film, animation, and digital art as key contributors to national development.

“The Orange Economy represents a powerful opportunity to transform our rich cultural heritage and creativity into sustainable economic growth,” he noted.

He further highlighted Nigeria’s unique advantage, particularly its youthful and creative population, while calling for stronger collaboration among stakeholders to fully harness the sector’s potential.

“With our youthful population and rich cultural assets, Nigeria is well-positioned to become a global leader in the Orange Economy if we deepen collaboration and investment across the ecosystem,” he added.

During the engagement, NITDA also presented its strategic initiatives aimed at supporting the digital and creative sectors, including digital infrastructure development, promotion of digital literacy, and implementation of policies that enable startups and innovators to scale.

Addressing challenges facing the sector, Inuwa pointed to issues such as limited access to funding, infrastructure gaps, weak intellectual property protection, and ecosystem fragmentation, while emphasising the need for coordinated action.

“Addressing challenges such as funding gaps, infrastructure deficits, and intellectual property protection is critical to unlocking the full potential of Nigeria’s creative economy,” he said.

The Agency reiterated its target of achieving 70 per cent digital literacy by 2027, noting that ongoing programmes are equipping millions of Nigerians with essential digital skills, including those in underserved and informal sectors.

In his remark, Professor Omotayo described the visit as an important opportunity to deepen understanding of how digital technologies are reshaping economic sectors, particularly the creative industry. He noted that the insights gathered would contribute significantly to policy recommendations aimed at strengthening Nigeria’s economic framework.

Participants of the SEC 48 programme engaged actively during the session, raising questions on capacity development, access to tools, and frameworks for protecting digital content. NITDA highlighted its ongoing collaborations with industry stakeholders to provide training, innovation hubs, and access to digital tools for young Nigerians.

The engagement concluded with a renewed commitment from both NITDA and NIPSS to strengthen collaboration in research, policy development, and capacity building, aimed at positioning Nigeria as a globally competitive force in the digital and creative economy.

 


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NRS Takes Over Mineral Royalties Collection Under New Tax Laws

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Nigeria Revenue Service (NRS) has assumed responsibility for collecting mineral royalties from mining operators nationwide, following new tax laws effective January 1, 2026.

NRS Takes Over Mineral Royalties Collection Under New Tax Laws

NRS

The shift emerged from a Thursday meeting between Solid Minerals Development Minister Dele Alake and NRS Chairman Dr. Zacch Adedeji. Their joint statement, endorsed by both, confirms NRS now administers all federally collectible revenues, including royalties.

Enacted by President Bola Tinubu on June 26, 2025, the Nigeria Tax Laws 2025 empower this transition. The Ministry of Solid Minerals Development remains a key partner, supplying pricing data, geological insights, and sector coordination.

NRS Special Adviser Dare Adekanmbi’s statement outlines collaborative steps: a nationwide sensitization program for operators on filing and payments; development of a digital royalty system; and regular joint technical sessions to address issues.

Both agencies pledge orderly, transparent implementation to boost the mining sector. Operators must comply with obligations and join upcoming programs.

The move aims to streamline revenue collection while fostering mining growth.


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Microsoft Revamps Copilot in Workplace AI Push

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Microsoft has rolled out a new set of features for its Microsoft 365 Copilot platform, including tools for complex, multi-step work and deeper research tasks, as competition in workplace artificial intelligence (AI) intensifies.

The update introduces Copilot Cowork, a capability aimed at handling long-running tasks across Microsoft 365 applications.

The feature is being made available through the company’s Frontier programme, which typically gives early access to experimental tools.

Microsoft is also integrating technology linked to Claude – an AI model developed by Anthropic –into Copilot, signalling a broader shift toward using multiple AI systems within a single product rather than relying on a single model.

Jared Spataro, chief marketing officer for AI at Work at Microsoft, says the company is positioning Copilot as a system embedded directly into workplace software, rather than a standalone tool.

“Microsoft 365 Copilot is your AI for work,” he says, adding that it draws on multiple AI models and is integrated into existing workflows.

Alongside this, Microsoft has upgraded its Researcher feature, which is designed to analyse information from multiple sources and generate structured reports.

A new “Critique” function separates the drafting and review process between different AI models – one generates an initial response, while another evaluates and refines it.

The company says this approach improves output quality, with Researcher showing gains on its internal benchmark for accuracy, completeness and objectivity.

Another addition, called Model Council, allows users to compare outputs from different AI models side-by-side, highlighting differences in responses and reasoning.

The updates form part of what Microsoft calls “Wave 3” of Copilot, as it pushes to embed generative AI deeper into enterprise software. The move reflects a wider industry trend towards combining models from multiple providers, including OpenAI and Anthropic, to improve performance and reliability.

 


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