The Nigerian National Petroleum Company (NNPC) Limited, has clarified the non-remittance of $2 billion into the federation account in 2022 as reported by the Nigeria Extractive Industries Transparency Initiative (NEITI). According to the Group CEO of NNPC Ltd, Mele Kyari, the NEITI report alleging non-remittance of $2 billion in taxes to the federation account is incorrect. He said that NNPCL was not holding any public funds back and what NEITI reported as non-remittance was what was due to the company as payment for taking the burden of fuel subsidy on behalf of the federal government. NEITI, in its ‘2021 Oil…
Author: Michael Chibuzo
Vice-President Kashim Shettima says those criticising the federal government’s decision to relocate the headquarters of the Federal Airport Authority of Nigeria (FAAN), and some offices of the Central Bank of Nigeria (CBN), to Lagos are mischief makers. On January 18, 2024, FAAN had announced the relocation of its headquarters from Abuja to Lagos following a directive by the Minister of Aviation and Aerospace Development, Festus Keyamo SAN. The CBN also announced the transfer of some units in charge of banking supervision to its new office in Lagos. This move was greeted with dissatisfaction from some quarters, especially in the North.…
The Minister of Information and National Orientation, Mohammed Idris has said that despite the difficulties facing Nigeria on various fronts especially on the economic and security angles, the nation is still forging ahead with a lot of positive strides. In a press statement titled: “Amidst Challenges, Nigeria will Forge Ahead”, the Information Minister essentially talked on the state of the Nation. In the statement, Mohammed Idris acknowledged the challenging reality Nigeria currently find itself especially with the impact of inflation on personal and household budgets, and the threats to security in parts of the country. He however stated that these…
The Federal government has said it is expecting an improved power supply as it offsets outstanding payments to electricity generation companies especially those powered by gas. The Minister of Power, Adebayo Adelabu, in a statement by his Special Adviser on Strategic Communication and Media Relations, revealed that the blackout experienced in parts of the country was due to low supply of gas to power generating companies. This supply constraints is linked to inability of the GenCos to meet their obligations to gas suppliers due to backlog of payments they are owed for electricity it had supplied to Distribution Companies through…
Three French-speaking West African nations under military rule, Niger, Mali and Burkina Faso have announced that they are severing ties with the Economic Community of West African States (ECOWAS) without delay. The three countries announced their decision to pull out of the regional economic bloc in a joint statement released on Sunday where they criticised ECOWAS over the sanctions imposed on them as part of efforts to reverse the coups in their countries. “After 49 years, the valiant peoples of Burkina Faso, Mali, and Niger regretfully and with great disappointment observe that the (ECOWAS) organization has drifted from the ideals…
As part of efforts to quickly negotiate a new national minimum wage for workers in Nigeria, President Bola Tinubu has approved the inauguration of the Tripartite Committee on National Minimum wage. The committee will be inaugurated this Tuesday at the Council Chambers of the State House complex in Abuja by 12 noon. According to an invitation letter from the Secretary to the Government of the Federation, George Akume to various members of the committee, invited individuals are to be seated at the Council Chambers by 11:30am. Mr. President has repeatedly made it clear that he intends to pay Nigerian workers…
The Super Eagles of Nigeria has sent the Indomitable Lions of Cameroon packing from the ongoing AFCON 2023 after beating them 2-0 in the second match of the round of 16. Ademola Lookman scored both goals as Nigeria defeated old rivals Cameroo to fly away to the quarter-finals of the Africa Cup of Nations. Nigeria had an early goal scored by Semi Ajayi disallowed for offside following a VAR review. However VAR could not prevent the opener in the 36th minute by Ademola Lookman following a spell of constant pressing and bullying of the Cameroonian defence by Nigeria’s star striker…
The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele has stated that the federal government is not planning to recruit area boys to collect taxes contrary to what news reported quoted him as saying in an interview on Channels TV. Taiwo Oyedele debunked the misleading media reports in a post on his verified X handle on Saturday. He said , “you cannot recruit a person to do the job they are already doing, whether they are legally engaged or otherwise.” The Chairman of the Tax and Fiscal Reforms Committee pointed out that there already…
Usman Ododo has been sworn in as the Governor of Kogi State. Ododo took the oath of office on Saturday at the inauguration ceremony in Lokoja, the state capital. Ododo, candidate of the All Progressives Congress (APC), won the November 2023 governorship election in the state. Ododo polled 446, 237 votes to defeat Murtala Ajaka of the Social Democratic Party (SDP), who came second with 259,052 votes. Dino Melaye, candidate of the Peoples Democratic Party (PDP), scored 46,362 votes to finish a distant third. Dignitaries present at the inauguration include Vice-President Kashim Shettima who represented President Bola Ahmed Tinubu; Alhaji…
By Michael Chibuzo I have gone through the post made by the former Vice President of Nigeria, Alhaji Atiku Abubakar questioning the integrity of a loan prepayment deal secured by the Nigerian National Petroleum Company Limited (NNPCL) in collaboration with the Afrexim Bank and I feel a bit concerned at the inaccuracies and deliberate ignorance on display therein. As a former Vice President with a number of personal aides paid for by the government, Atiku Abubakar should have asked one of his aides to bring him up to date with the latest information/facts on the $3.3 billion NNPC pre-payment loan.…