The Federal Government withdrew a total sum of N1.99trillion from the Excess Crude Account within the 2013 fiscal year, documents obtained from the Budget Office of the Federation (BOF) have revealed.
The BOF in its 2013 consolidated budget implementation report jointly signed by the Minister of Finance, Dr. Ngozi Okonjo-Iweala and the Director-General, BOF, Dr. Bright Okogu said the amount was used to settle various obligations of the Federal Government owing to its inability to meet revenue targets.
The withdrawals for 2013 are marginally lower than the N2.07trillion taken in the 2012 period by N800million or 3.86 per cent.
It said while N1.99trillion was the total outflows from the ECA, the government was able to ensure that within the 2013 period, the sum of N855.41million was transferred into the account.
However, the total inflow for 2013 was lower than the N2.30trillion received in 2012 by N1.29trillion or 56.19 per cent.
The report, a copy of which was obtained exclusively by our correspondent said, “The ECA was set up to serve as a stabilization and savings account. Inflows into the ECA in the fourth quarter of 2013 amounted to N156.03billion.
“The inflow into this account in the fourth quarter was lower than the N181.34billion and N474.8billion recorded in the third quarter of 2013 and fourth quarter of 2012 by N25.31billion and N318.77billion respectively.
“Similarly, the total inflow for 2013 was lower than the N2.30trillion received in 2012 by N1.297trillion (or 56.19 per cent).
“A total of N510.98billion was withdrawn from the account in the fourth quarter of 2013 to bring the cumulative drawdown from the account as at 31st December 2013 to N1.99trillion.
“The report said of the N1.99trillion withdrawn in 2013 from the ECA, the sum of N1.08trillion was used to augment statutory revenue to the three tiers of government, while N505billion was used to settle payment of petroleum product subsidy.
It added that the balance of N405.6billion was transferred into the special intervention fund.
Giving a breakdown of how the N1.08trillion revenue was augmented among the three tiers of government, the report said the sum of N485.02billion was withdrawn in the first quarter of 2013.
For the second, third and fourth quarters, the report put the augmentation made to the three tiers of government at N434.82billion, N12.02billion and N154.75billion in that order, respectively.
On how the payment for petroleum subsidy was made, it stated that N50billion was paid to oil marketers in the first quarter while second, third and fourth quarters had N110billion, N110billion and N235billion, respectively.
For transfers into the special intervention fund, the report said the sum of N71.1billion was moved into the account in the first quarter while N106.65billion, N106.65billion and N121.23billion were paid into the account in the second, third and fourth quarters in that order.
The nation experienced huge revenue shortfall within the 2013 fiscal year which saw the ECA experiencing massive withdrawals by the government in order to augment the depletion in revenue.
For instance, crude oil sales which accounts for about 90 per cent of government revenue recorded a decline of N1.43trillion of 33.69 per cent from N4.24trillion in 2012 to N2.81trillion in 2013.
Similarly, findings revealed that gas sales of N255.12billion and rent of N180million fell below their corresponding annual projections of N359.58billion and N880million by N104.46billion (29.05 per cent) and N0.70billion (or 79.67 per cent).
The drop in crude oil revenue, according to the BOF was due to massive crude oil theft, illegal bunkering pipeline vandalism which persisted during the period under review.
Similarly, the non oil revenue receipts recorded huge decline of N637.93billion (or 22.37 per cent) to N2.21trillion as at December 31, 2013, below the annual projected estimate of N2.85trillion.
For instance, Value Added Tax of N795.60billion, Company Income Tax of N985.52billion and Customs and Excise Duties of N432.64billion all fell short by N149.68billion (or 15.83 per cent), N6.52billion (or 0.66 per cent) and N360.31billion (or 45.44 per cent) when compared with their annual projections of N945.28billion, N992.04billion and N792.95billion.
Gunmen Kidnap Three, Kill Three Policemen, Three Others In Three States
Suspected Fulani herdsmen have kidnapped students of Abia State University, Uturu, Abia State; shot and killed a student of Marist Comprehensive Academy, Uturu; while another group also attacked ECWA church in Kogi State, killing one person and kidnapping two others.
Also, gunmen, yesterday, killed three policemen on duty in Onitsha, the commercial city of Anambra State, and further injured two others before setting their patrol vehicle ablaze.
The Fulani herdsmen also robbed motorists and passengers who were en route to Port Harcourt from Enugu and from Okigwe town to Enugu, respectively.
In a statement, yesterday morning, Marist confirmed the killing of one of its students.
The statement read, “Some students from Marist Comprehensive Academy, Uturu, Abia State, were attacked by armed bandits around IhubeRoad in Okigwe LGA on their way from a final religious procession of some Marist brothers.
“In the course of the robbery attack, one student in the person of Edeh Donald was shot and he later died.
“Three other students were injured. They are receiving treatment and they are responding to the treatment.
“We pray God to guide and protect Nigeria citizens.”
When contacted, the police spokesperson in Imo State, MichaelAbattam, said that the police had swung into action.
Abattam said it was a robbery attack and not a kidnap operation.
Our correspondent, who visited the scene, yesterday, observed that fear had engulfed the area.
Suspected Fulani had June 10, 2020, kidnapped scores of travellers on the same spot.
They were en route to Owerri from Enugu when the bandits struck.
They had also in April kidnapped a Catholic priest, IzuchukwuOnyeocha, who is a professor of Sociology at Imo State University in Owerri.
The priest, who was released days later, confirmed that he was kidnapped by Fulani herdsmen.
Similarly, unknown gunmen had attacked ECWA church in Kogi State, killing one person and kidnapping two others.
The church is located at Okadayo-Kabba, along OkeneRoad, in Kogi State.
The attack is coming barely few days after a jailbreak at the Federal Minimum Correctional Centre located in Kabba and the abduction of three poultry farmers in their farm, all in the same area.
It was gathered that the yet to be identified gunmen opened fire on the worshippers as church service was going on, killing one person on the spot.
An eyewitness, who pleaded anonymity, said two other person who were shot are currently receiving treatment in an undisclosed hospital.
According to him, the pioneer Provost of College of Education Technical,Kabba, Chief J.O.T.Oshadumo, and one other were kidnapped, while his wife and some students sustained gunshot wounds.
The Chairman of Kabba-Bunu Local Government, Moses Olorunleke, who confirmed this to newsmen, said details of the attack would be made public soon.
Efforts to get more information from the Police Public Relations Officer, DSP William Aya, proved difficult as he was said to be in church.
Also, gunmen, yesterday, killed three policemen on duty in Onitsha, the commercial city of Anambra State.
They also injured two others before setting their patrol vehicle ablaze.
According to sources, the incident happened around 9am on Ukaegbu/Ezeiweka Road in the commercial hub of the state.
It was not clear what led to the dastardly act and who the killers could be.
This came less than two weeks after the former traditional ruler of Mkpunando community in Aguleri, Anambra East LGA of the state, Chief Alex Edozieuno; and his driver, Chukwuemeka, were killed by yet to be identified persons along Ezu Bridge, Otuocha.
Edozieuno was one of the 12 monarchs suspended last year by Governor Willie Obiano for visiting President MuhammaduBuhari in Abuja with Prince Arthur Eze, an international oil mogul.
He was subsequently dethroned by the governor.
A video trending on social media showed the patrol vehicle of the policemen on fire even as somebody in police wear was seen lying on the tarred road.
When contacted, the Police Public Relations Officer in the state, DSP TochukwuIkenga, said that he was yet to get the details of what actually transpired.
FG Not Sincere With Fight Against Insecurity, Catholic Cleric Alleges
The Lagos Catholic Archbishop, Alfred Adewale Martins, yesterday, said that the administration of President MuhammaduBuhariwas not sincere with the fight against insecurity as it continues to hinder willing groups and not equipping the security forces.
Martins stated this in Lagos State at the grand finale of the 60th anniversary celebration of a Catholic group, Knight of Saint Mulumba, adding that breakdown in the policy and values has led to emergence of unpatriotic leaders.
Martin, who coincidentally celebrated his 38th priestly ordination, said that Nigerian politicians have lost faith on service to humanity, and were in search of personal gain.
He related it to the trending case of Femi Fani-Kayode, who recently joined All Progressives Congress (APC).
“Insecurity is the major problem we have in Nigeria currently; places of worship are not safe.
“The government is supposed to have access to experts who will bring in their expertise to solve the problem but that is not so. When you hear the kind of complains and dissatisfaction from the military and different sides you will know that there is inadequate sincerity by the government. There are inadequate arms supplied to the security.
“One of the things about Nigerian politicians is inconsistency in goals and principles. When Fani-Kayode was criticizing Buhari it was not based on principles of not he would not join or switch to APC. It is not surprising that we are where we are today because we have people like him who are inconsistent,” he stated.
Hushpuppi: IGP Queries Abba Kyari Over Infractions
Indicted super cop and former commander of the IGP Intelligence Response Team (IRT), Abba Kyari, has been queried by the Inspector General of Police, Usman Alkali Baba.
The query follows the submission of the report by the police panel set up by the IGP to look into the alleged indictment of Abba Kyari by the Federal Bureau of Investigation (FBI).
Kyari was queried over infractions noticed in his communication with Ramon Abbas aka Hushpuppi, a suspected internet fraudster.
“The IGP has issued a query to Abba Kyari based on the findings of the panel.
“The panel discovered that there was communication between Kyari and Hushpuppi, as well as infractions on the part of the cop, which is against the procedure of engagement of the police.”
The panel did not recommend the extradition of Kyari because it could not establish that the police officer committed any crime in the US.
“There is no proof that he committed any crime on the soil of the US to warrant his extradition.
“He will be sanctioned by the appropriate authorities here. However, it is for the AGF to advise if there is a ground to extradite him to the US, which is very unlikely”, the source said further.
Spokesperson of the Nigerian Police Force, Frank Mba, however, said that the IGP has forwarded the recommendations of the panel to the Police Service Commission (PSC) for appropriate action.
Reportedly, the office of the Attorney-General of the Federation is also looking into the request of extraditing the indicted Cop to the United States of America.
- News5 days ago
Rivers LG To Give Grants To 80 Post-Graduate Candidates
- Sports3 days ago
Youth Basketball Festival Has Discovered Talents – Coach
- Sports3 days ago
Aisha Buhari Cup: FIFA, CAF Presidents Grace Kick-Off, Falcons Win 2-0
- Editorial3 days ago
That Desecration Of NDA
- Politics3 days ago
Perspective On NASS 2% Budget Spending
- Niger Delta3 days ago
Jonathan Wants NARD To Suspend Strike
- Sports3 days ago
Former Kenya’s Minister Pays Fine, Skips Jail
- Rivers3 days ago
KYC Alleges Sabotage Over Trans Kalabari Road