• About Us
  • Contact Us
  • Privacy Policy
Friday, May 9, 2025
The Intercept
No Result
View All Result
  • Home
  • News
    • National
    • International
    • Education
    • Health
    • Legislative
    • Judiciary
    • Security
    • Metro
    • Crime
  • Politics
  • Business
    • Economy
    • Labour
    • Oil & Gas
    • Agriculture
    • Aviation
    • Maritime
    • Banking
    • Energy
    • Communication
    • Technology
  • Special Reports
    • Anti-Corruption
    • Investigations
    • Interviews
    • Sponsored
  • Arts & Life
    • Art
    • Books
    • Fashion
    • Lifestyle
  • Entertainment
    • Movies
    • Music
    • Weekend Gist
  • Press Freedom
  • Opinion
    • Editorial
    • Facts Check
    • Columns
The Intercept
No Result
View All Result

How President Buhari Earmarked Over N600 Million To Non-Existing Office Of Chief Economic Adviser Each Year Since 2015

But in 2020, budgetary approval to the OCEAP rose to N333.06 million, even though there was no release, based on document obtained from the OAGF as of then.

by Intercept Nigeria
January 13, 2021
in Economy
FULL SPEECH: Buhari’s Stand About Old, New Naira Notes

President Muhammadu Buhari

Share To WhatsAppShare on FacebookShare on TwitterSend To Mail

THE non-existing Office of the Chief Economic Adviser (OCEAP) to President Muhammadu Buhari got N46.86 million in the 2021 budget approved by the National Assembly.

This is the sixth time the non-existing office is getting a budget approval from both chambers of the National Assembly.

The office, which clearly has no presidential appointee and personnel to account for monetary approvals allocated to it, has been receiving funds from the government coffers for six years.

The ICIR had reported in 2020 how the OCEAP got N573.45 million in five years without an appointee to answer for the monetary disbursements.

As of July 2020, data from the Office of the Accountant General of the Federation (OAGF) revealed that N116.97 million had been released to the OCEAP out of the N573.45 million cumulative budget.

In 2016, the office got N78.17 million as its capital budget. The following year, it received N60 million. Another N60 million was approved for the same OCEAP in 2018. By 2019, annual budget to the office dropped to N42.23 million.

ALSO READ  Zulum Exposes Hidden Beneficiaries of Borno Insurgency 

But in 2020, budgetary approval to the OCEAP rose to N333.06 million, even though there was no release, based on document obtained from the OAGF as of then.

Still, the 2021 approved budget shows that N46.86 million was approved for the controversial office which has no appointee.

The official website of the OCEAP – www.oceap.gov.ng, which was supposed to help Nigerians understand economic policies of the president, is currently inactive.

“Database connection error (1): The MySQL adapter ‘mysql’ is not available,” it read when The ICIR visited. This was exactly the message seen by this reporter  while verifying the portal in August 2020.

OCEAP allocation tagged as overhead, office missing in State House website

ALSO READ  Nigerian Govt Confirms Sack Of Workers With Benin Republic, Togo Degrees

Though there was no provision for personnel cost and capital allocations in the OCEAP budget, the N46.86 million sum was pegged as overhead.

President Muhammadu Buhari
President Muhammadu Buhari

Moreover, the OCEAP is excluded from list of offices under the presidency in the State House website.

Current offices contained in the websites include Office of the President, Office of the Vice President, Office of the Secretary to the Government of the Federation, Office of the Head of the Civil Service of the Federation, Office of the National Security Adviser and the State House Administration.

It is worthy of note that previous administrations from Olusegun Obasanjo had appointed chief economic advisers to provide sound counsel on economic matters. The same appointment was made by former President Goodluck Jonathan whose chief economic adviser was Nwanze Okidegbe.

But Buhari is yet to have an appointee to occupy the office.

ALSO READ  Kogi Ramps Up Efforts to Combat Sexual Violence

Adeyemi Dipeolu was only appointed as the special adviser to the president on economic matters in the Office of the Vice President.

Both Dipeolu and Laolu Akande, Vice-President Yemi Osinbajo’s media aide, had exonerated the former from being the occupier of the OCEAP.

A responded Freedom of Information (FOI) request to the Office also affirmed the president was yet to appoint anyone to manage the office.

“Please be informed that a Chief Economic Adviser to the President is yet to be appointed and therefore, this office is presently constrained in facilitating your request in respect to the above subject matter,” one Yusuf Ahmad Babatunde had responded in place of the yet-to-be-appointed chief economic adviser to the president.

Subscribe To Receive Newsletters

Check your inbox or spam folder to confirm your subscription.

SendShareTweetSend
Previous Post

Apologise Or Leave Sokoto – Muslim Forum Tells Matthew Kukah

Next Post

BREAKING: Cholera Kills Seven Persons In Benue State

Related Posts

Customs CG Sounds Alarm Over Revenue Bill, Says Agency at Risk
Economy

Adeniyi: Customs Revenue Hits N1.75trn in Q1, Reflecting a 29.96% Increase

April 22, 2025
Banks Unveil New Exchange Rate As Dollar Hits N750
Economy

Nigeria’s money supply hits N114tn despite CBN’s policy

April 22, 2025
Kano Anti-Corruption Commission Moves To Check High Cost Of Food Commodities
Economy

BREAKING: Inflation Surges to 24.23% in Nigeria, Rebasing Offers No Relief

April 15, 2025
“They Only Drain Data!” – Telecom Users Rage Over Tariff Hike, Poor Network
Economy

“They Only Drain Data!” – Telecom Users Rage Over Tariff Hike, Poor Network

April 14, 2025
Scarcity Of New Naira Notes Hits FCT, Residents Cry Out
Economy

Naira Weakens, Ends Week in Decline

April 12, 2025
FG aims to cut $4bn in textile imports, rejuvenates Nigeria’s garment sector
Economy

FG aims to cut $4bn in textile imports, rejuvenates Nigeria’s garment sector

April 9, 2025
Next Post
Benue Teachers Groan Over 13 Months’ Unpaid Salaries

BREAKING: Cholera Kills Seven Persons In Benue State

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

TRENDING STORIES

  • Gospel Singer Yemi Adeola Is Dead

    Gospel Singer Yemi Adeola Is Dead

    0 shares
    Share 0 Tweet 0
  • Spiritual Earthquake: Bishop David Abioye Breaks Away, Establishes Conquerors Global Assembly

    0 shares
    Share 0 Tweet 0
  • “Mercy Chinwo Is Why VDM Was Arrested”-Stanley Ontop Alleges

    0 shares
    Share 0 Tweet 0
  • REVEALED: Wigwe’s Death Tied to Pilot Disorientation, Shocking Negligence by Helicopter Company

    0 shares
    Share 0 Tweet 0
  • BREAKING: 22 Delta PDP lawmakers defect to APC

    0 shares
    Share 0 Tweet 0
  • Facebook Threatens To Close Operations In Nigeria Over $220 Million Fine

    0 shares
    Share 0 Tweet 0
  • This Is Why We Arrested VDM-EFCC Speaks Out

    0 shares
    Share 0 Tweet 0
  • Healthcare Horror: UBTH Doctor Gunned Down in Benin City

    0 shares
    Share 0 Tweet 0
  • EFCC Invites Iyabo Ojo For Abuse of Naira At Daughter’s Wedding

    0 shares
    Share 0 Tweet 0
  • EFCC Arrests and Detains VDM Without Reason-Legal Representatives Speaks Out

    0 shares
    Share 0 Tweet 0

LATEST STORIES

Who is Pope Leo XIV Elected as New Catholic Pontiff in Stunning Vatican Conclave?

Who is Pope Leo XIV Elected as New Catholic Pontiff in Stunning Vatican Conclave?

May 8, 2025
Cardinal Robert Francis Prevost Is Now Pope Leo XIV

Cardinal Robert Francis Prevost Is Now Pope Leo XIV

May 8, 2025
Actress Sarah Martins Says She Is Married to VDM

Actress Sarah Martins Says She Is Married to VDM

May 8, 2025
EFCC Arraigns Eezee Tee For Money Laundering

EFCC Arraigns Eezee Tee For Money Laundering

May 8, 2025
Police Drag Suspended Ogun Monarch who Assaulted Elderly to Court

Fake Prophetess in the Dock: Alleged Fraud Lands Self-Styled Cleric in Court Drama

May 8, 2025

THE INTERCEPT

The INTERCEPT is an independent and non-profit news website that promotes transparency and accountability through robust and investigative reports.

We engage you with Critical and Objective News Reports on Politics, Business, Sports, Entertainment, Lifestyle, Education, Opinions, Editorials including Videos, Photos, and Documents.

No Result
View All Result

GET NEW POST ALERT

Check your inbox or spam folder to confirm your subscription.

  • Facebook
  • Twitter

NEWS SOURCES

  • Africa.com
  • Businessday
  • Channels Television
  • Daily Independent
  • Daily Times
  • Daily Trust
  • Leadership Newspaper
  • National Daily
  • NewsDiary Online
  • Nigerian Tribune
  • Economic Confidential
  • Peoples Gazette
  • PM News
  • Pointblanknews
  • Premium Times
  • Punch
  • The Guardian
  • The Nation
  • The Sun
  • Thisday
  • TV360 Nigeria
  • Vanguard
  • About Us
  • Contact Us
  • Privacy Policy

Copyrights © 2025 The Intercept - Published by Flying Dutchman.

No Result
View All Result
  • Home
  • News
    • National
    • International
    • Education
    • Health
    • Legislative
    • Judiciary
    • Security
    • Metro
    • Crime
  • Politics
  • Business
    • Economy
    • Labour
    • Oil & Gas
    • Agriculture
    • Aviation
    • Maritime
    • Banking
    • Energy
    • Communication
    • Technology
  • Special Reports
    • Anti-Corruption
    • Investigations
    • Interviews
    • Sponsored
  • Arts & Life
    • Art
    • Books
    • Fashion
    • Lifestyle
  • Entertainment
    • Movies
    • Music
    • Weekend Gist
  • Press Freedom
  • Opinion
    • Editorial
    • Facts Check
    • Columns

Copyrights © 2025 The Intercept - Published by Flying Dutchman.