Vice-President Kashim Shettima has said the Federal Government will support families of victims of recent stampedes across the country.

Shettima made this known in a condolence message on Sunday in Abuja.

He expressed sorrow over the losses and offered prayers and condolences to the affected families.

Recall that on Saturday in Okija, Anambra, a Christmas palliative distribution event turned tragic with 22 persons losing their lives in an early morning stampede.

The same day in Abuja, another tragedy struck when ten persons died during an annual Christmas food-sharing event at Holy Trinity Catholic Church, Maitama.

There was also a stampede on Wednesday at the Islamic High School, Bashorun, Ibadan, Oyo State, where about 35 children lost their lives and others sustained injuries during a holiday fun fair.

The vice-president, who described the incidents as a national tragedy, revealed that the Federal Government had directed relevant agencies to provide immediate support to affected families.

“I am extremely saddened by these tragic incidents that have claimed innocent lives.

“My prayers and thoughts are with the grieving families of all victims, including those who sustained injuries and are undergoing treatment.

“I am particularly distraught by the fact that so many lives of Nigerians, particularly children, have been lost in stampedes that ought to have been avoided through proper planning and organisation,” he said.

He prayed the Almighty God to grant eternal rest to the souls of the departed.

“We stand ready to support the bereaved families through this difficult period, and no effort will be spared in providing the necessary assistance they need.”

The Independent Petroleum Marketers Association of Nigeria, IPMAN, has announced that the pump price of petrol will reduce to N935 per litre by Monday.

The development, according to IPMAN, follows the marketers’ new deal with Dangote Refinery.

IPMAN National President, Alhaji Maigandi Garima, who made this known on Sunday in Abuja, commended the Dangote refinery for the development.

According to him, the new price was necessitated by the reduction in Dangote Refinery’s fuel ex-depot price and uniform arrangement, which would enable marketers to sell at N935 in their outlets nationwide.

Gatekeeper recalls that Dangote Refinery recently announced a reduction in fuel price by 7.27 per cent from N970 per litre to N899.50 per litre at its loading gantry and provided generous credit terms to marketers.

In a bid to ensure that the price reduction gets to the consumers, Dangote Refinery signed a partnership with MRS to sell petrol from its retail outlets nationwide at N935.

The price reduction which is designed to alleviate transport cost during the festive period and beyond, has already commenced in Lagos, and will be applicable nationwide from Monday.

“Dangote Refinery has brought another new arrangement of loading and pricing by which marketers would pay a fixed ex-depot price of N899. 50k.

“The refinery is running a programme whereby it wants the fuel consumption across the country to be at the same rate. We are expecting the new arrangement to kick-start on Monday.

“We have been loading from the Dangote Refinery and the refinery is saving us in this festive period,’’ the IPMAN leader said.

Garima said the competition being witnessed in the downstream sector at the moment would see the price of fuel dropping continuously.

He recalled that during the 2023 Yuletide, a litre of fuel was sold at N2000 in the northern and eastern parts of the country because fuel was being imported at that period.

He noted that the highest price fuel is being sold in the areas currently is N1,100, because refineries are working in the country.

He equally commended the Naira for the crude swap deal, adding that it is good for the growth of the economy.

The presidential candidate of the Peoples Democratic Party in the 2023 election, Atiku Abubakar, has stated that the 2025 budget proposal lacks the structural and fiscal discipline needed to address Nigeria’s multifaceted economic challenges.

The former vice president made this disclosure in a statement on Sunday, reacting to the 2025 budget proposal.

Recall that President Bola Ahmed Tinubu last week presented a N49.7 trillion 2025 budget to the National Assembly. The President had based the budget on key economic assumptions, including a N36.36 trillion revenue target, inflation reduction to 15.75 per cent, an exchange rate of N1,500 per dollar, oil production at 2.06 million barrels per day, a crude oil price of $70 per barrel, and a N13.39 trillion budget deficit.

Reacting to the budget, Atiku stated that it reflects a continuation of business-as-usual fiscal practices where budgets fail to impact the lives of citizens.

According to him, the 2025 budget’s ability to foster sustainable economic growth and tackle Nigeria’s deep-rooted challenges is questionable.

Atiku also criticised the budget’s reliance on N13 trillion in borrowing to fund the deficit.

“Weak Budgetary Foundations: The 2024 budget’s underperformance signals poor budget execution. By Q3 of the fiscal year, less than 35 per cent of the allocated capital expenditure for MDAs had been disbursed, despite claims of 85 per cent budget execution. This underperformance in capital spending, crucial for fostering economic transformation, raises concerns about the execution of the 2025 budget.

“Disproportionate Debt Servicing: Debt servicing, which accounts for N15.8 trillion (33 per cent of the total expenditure), is nearly equal to the planned capital expenditure (N16 trillion, or 34 per cent). Moreover, debt servicing surpasses spending on key priority sectors such as defence (N4.91 trillion), infrastructure (N4.06 trillion), education (N3.52 trillion), and health (N2.4 trillion). This imbalance will likely crowd out essential investments and perpetuate a cycle of increasing borrowing and debt accumulation, undermining fiscal stability.

“Unsustainable Government Expenditure: The government’s recurrent expenditure remains disproportionately high, with over N14 trillion (30 per cent of the budget) allocated to operating an oversized bureaucracy and supporting inefficient public enterprises. The lack of concrete steps to curb wastage and enhance the efficiency of public spending exacerbates fiscal challenges, leaving limited resources for development.

“Insufficient Capital Investment: After accounting for debt servicing and recurrent expenditure, the remaining allocation for capital spending—ranging from 25 per cent to 34 per cent of the total budget—is insufficient to address Nigeria’s infrastructure deficit and stimulate growth. This amounts to an average capital allocation of approximately N80,000 (US$45) per capita, which is insufficient to meet the demands of a nation grappling with slow growth and infrastructural underdevelopment.

“Regressive Taxation and Economic Strain: The administration’s decision to increase the VAT rate from 7.5 per cent to 10 per cent is a retrogressive measure that will exacerbate the cost-of-living crisis and impede economic growth. By imposing additional tax burdens on an already struggling populace while failing to address governance inefficiencies, the government risks stifling domestic consumption and further deepening economic hardship.

“The 2025 budget lacks the structural reforms and fiscal discipline required to address Nigeria’s multifaceted economic challenges. To enhance the budget’s credibility, the administration must prioritise the reduction of inefficiencies in government operations, tackle contract inflation, and focus on long-term fiscal sustainability rather than perpetuating unsustainable borrowing and recurrent spending patterns. A shift toward a more disciplined and growth-oriented fiscal policy is essential for the nation’s economic recovery,” he stated.