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Jonathan Orders NNPC To Refund $1.48bn …Visits Troops In Adamawa

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President Goodluck Jonathan has ordered the Nigerian National Petrolium Corporation (NNPC) to pay the controversial $1.485billion into the account of Federation Account Allocation Committee (FAAC) for disbursment.
This was disclosed at the monthly FAAC meeting held yesterday in Abuja.
Meanwhile, the sum of N500.130 billion was shared among the three tiers of government for the month of January.
In a statement issued by the technical sub-committee of the Federation Account Allocation Committee (FAAC), at the meeting, the amount shared represents a short fall of N80.248 billion from N580.378 billion shared in the previous month.
According to the committee, the reduction was due to drop. In crude oil prices from $77.53 million in November to $52.34 million in December, 2014.
Also, the drop was attributed to a 33 per cent decrease in export volume between November and December, 2014, which translated to a loss of $159.88 million.
Of the amount shared, state governments received the lion share of N30.689 billion, representing 50 per cent, while Federal Government and local government councils received 15 and 35 per cent, respectively.
It was stated that additional N4.419 billion payment was made by NNPC with N6.330billion refund to Federal Government purse.
Additionally, the sum of N776 million was also added to the shared money as residual balance, while N63.935 billion was added from Value Added Tax (VAT).
However, the Minister of State for Finance, Ambr. Bashir Yuguda debunked the rumour making rounds that Nigeria is broke, insisting that the economy is resilient and strong as evidenced in all the economic indices.
According to him, the domestic account of the country stands at $19 million, while the excess crude account is $2.60 million.
Bashir, who blamed the current economic challenges on devaluation of naira as occasioned by hostility in the oil market, assured that the situation will soon better as government has decided to cut down travel and expenses.
However, the House of Representatives has for the second time on Wednesday asked the Minister of Finance, Ngozi Okonjo-Iweala, to submit the full version of the forensic audit report on the alleged missing Nigerian National Petroleum Corporation $20billion to it.
The House gave the first directive on Thursday last week, following a motion moved by its Minority Leader,  Femi Gbajabiamila.
On Wednesday (yesterday), the House again asked the minister for the report after Gbajabiamila complained that almost one week following the first resolution, Okonjo-Iweala had not responded.
He said, “Mr. Speaker (Emeka Ihedioha, presiding), we request the Clerk of the House to formally write the Minister to produce that report to every member of this House.
“She has not produced the report, irrespective of the standing resolution of this House. We want to have the full report, not the snippets that they have been flying about.”
The House endorsed his submission and directed the minister a second time to comply.
An auditing firm, PriceWaterHouse Coopers, had carried out the forensic investigation on behalf of the Federal Government.
The Chairman, House Committee on Public Accounts, Mr. Solomon Olamilekan, told reporters shortly after the House rose that the Office of the Auditor-General of the Federation only presented a “highly-condensed version” of the report to the public.
He recalled that in the condensed version, the NNPC was directed to remit a “minimum of $1.4billion into the Federation Account.”
The lawmaker said that, as the committee overseeing public accounts, PAC was duty-bound to ensure that the minister produced the report.
He ordered Okonjo-Iweala to submit the report not later than one week from Wednesday.
Olamilekan added, “The PAC, cognisant of the provisions of the Constitution (1999), and empowered by the resolution, hereby requests that the full report on the forensic audit by PWC, which must include the initial raft report, the executive summary, management /internal control letters, should be forwarded to the National Assembly not later than one week from today(Wednesday).”
Meanwhile, the Federal Government has, in spite of the drop in its oil revenue and dwindling allocations to the three tiers of government, insisted that Nigeria is not broke.
“The country is not broke, we have been meeting our obligations despite the challenges we have had with oil revenue streams but we have been doing the best that we can to improve our revenue from the non-oil sector,” the Minister of State for Finance, Bashir Yuguda, said.
Yuguda spoke with journalists after this month’s Federation Accounts Allocation Committee meeting in Abuja on Tuesday night.
The minister  who,  put the excess crude account at about $2billion, also spoke briefly on the  forensic audit report and the amount to be refunded by the NNPC to the federation account.
“I have engaged the minister of petroleum and we have discussed the time frame on the refund of that amount,” he said.
However, the All Progressives Congress Vice-Presidential candidate, Yemi Osinbajo, has said that the biggest problem facing Nigeria is corruption and not dwindling oil prices.
Osinbajo stated this in Uyo, Akwa Ibom State, on Wednesday during the presentation of APC’s 2015 manifesto on Securing Nigeria’s Future.
He said, “Nigeria problem, as you know, is not lack of resources. The government of today has tried to give the impression that the problem of the country is that of falling oil prices, which is now below $50 per barrel.
“That is not true, that is not the problem. The problem is the corruption or the theft of resources.”
The former Lagos State Attorney-General and Commissioner for Justice, added that the Federal Government itself had confirmed that over 400,000 barrels of oil are stolen every day from Nigeria.
He put the value of the stolen oil at N3.1trillion a year.

Permanent Secretary, Rivers State Ministry of Information and Communications, Sam Woka (middle) explaining a point during an inspection of the state  monorail project at UTC station, last Wednesday. With him are General Manager, RSNC, Mr Celestine Ogolo (2nd left),a Director in the Ministry of Information and Communications, Pastor Paulinus Nsirim (left), and other dignitaries.

Permanent Secretary, Rivers State Ministry of Information and Communications, Sam Woka (middle) explaining a point during an inspection of the state monorail project at UTC station, last Wednesday. With him are General Manager, RSNC, Mr Celestine Ogolo (2nd left),a Director in the Ministry of Information and Communications, Pastor Paulinus Nsirim (left), and other dignitaries.

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Decentralizing Pipeline Surveillance Poses Greater Dangers To Niger Delta …. Group Warns

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A group of Eminent persons from the Niger Delta region under the aegis of The Niger Delta Watch Dog has warned the Federal Government against yielding to the call to decentralize pipeline surveillance in the region.

The Eminent persons who said this in a press release made available to newsmen in Port Harcourt said those calling for decentralization of pipeline surveillance are ignorant of the dangers it poses to the peace and stability of the Niger Delta.

.They argued that the proposal poses significant risk to the peace security and economic stability of the region.

According to the release” While decentralization is often perceived as a means of promoting inclusivity and local participation, in this specific context it poses significant risks to peace, security, and economic stability.

It further said”evidence from community dynamics across the region suggests that decentralization will cause more harm than good, leading to increased conflict, fragmentation of authority, and heightened threats to critical national infrastructure.
“By contrast, the centralized model currently implemented by Tantita Security Services under the leadership of Government Ekpemupolo Tompolo has demonstrated measurable success in stabilizing the region, reducing conflict, and safeguarding Nigeria’s economic lifelines”

While describing the Niger Delta region as the backbone of Nigeria oil and gas, it added that any changes in policy will lead to crisis in the region.

“The Niger Delta region remains the backbone of Nigeria’s oil and gas industry, hosting extensive pipeline networks that are vital to national revenue and economic sustainability.

“Given the sensitive nature of this infrastructure, the framework through which pipeline security is managed must prioritize stability, coordination, and conflict prevention.

“Any policy shift particularly toward decentralization must therefore be carefully evaluated in light of the region’s socio-political realities”
It said
The release jointly signed by Chief Idowu Asonja ,Ellington Pokumo the Public Relations officer of the group Comrade Douye kojo Isoun and others,

said decentralization will lead to escalation of Inter-Community land dispute, intensifies rivalry between groups as well as heightens the struggle against Territorial control among others.

“Decentralizing pipeline security will likely intensify existing disputes between neighbouring communities as many communities in the Niger Delta have been involved in conflicts over Land ownership and territorial boundaries as well as Control of natural resources and

“Claims over oil pipelines passing through their territories” adding
“Such instability not only disrupts social harmony but also directly endangers pipeline infrastructure, increasing the risk of vandalism, sabotage, and production losses”

It said the gains recorded so far by the present centralization policy should be preserve as any shifts could wrecked havoc in the region.

“Any policy shift must preserve these hard-earned gains. At this time, decentralization presents a significant risk, while the current system continues to offer stability, security, and economic assurance for the nation.

“It is therefore strongly advised that the Federal Government of Nigeria carefully scrutinize and ultimately disregard calls for the decentralization of pipeline security contracts. “Available evidence and prevailing realities suggest that such calls may not be driven by the broader national interest, but rather by narrow, self-serving agendas that could reignite conflict within the region, this we know the Government does not need” the group said

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RSIPA DG Unveils New Rivers Investment Pathway At BRACED Commission

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The Director-General of the Rivers State Investment Promotion Agency (RSIPA), Dr. Chamberlain Peterside, has used the platform of the revived BRACED Commission to unveil investment opportunities and plans in Rivers State.

 

The BRACED Commission just bounced back and has already held a roundtable in Port Harcourt preparatory to an economic summit in the near future.

The roundtable featured the investment promotion agencies of the cooperating states: Bayelsa, Rivers, Akwa Ibom, Cross River, Edo, and Delta states.

Dr Peterside not only chaired the roundtable but made presentations for Rivers State economic landscape.

He hailed the rebound of the BRACED Commission which did well at the onset. “The governors of the region were one and united for one cause. Then, politics came and everything scattered. The agenda is simple, to integrate the economy of the region into one strong bloc.”

He admitted that Rivers State’s investment promotion agency is very young, plus six months in the limbo of state of emergency. “This thus is a very unique opportunity to get resurgent momentum.”

He listed the achievements of RSIPA in the short period since its establishment, saying it has received numerous investment proposals.

“We’ve engaged actively with the private sector, both those currently operating in the state and those intending to invest. We do realize the fact that investment begins from domestic investors. and you have to guide them.

“Through outreach programmes and establishment of a One-Stop-Center (OSC), we have created a streamlined system for addressing investor needs, supporting their business operations. For the first time in Rivers State, prospective investors and small and medium enterprises now have a centralized hub that can address their challenges and find solutions that enable them to thrive.”

He outlined the plans ahead thus: “One of our cardinal focuses at RSIPA is to enhance the operating climate and improve the ease of doing business.

“We are committed to creating a vibrant and business-friendly environment that attracts and retains investment. We are also working closely with other ministries, departments, and agencies to harmonize our activities.

“Collaboration for us is key; we see Rivers State as a single ecosystem where all stakeholders work together to support investment inflow and build a favorable environment for businesses to flourish.”

For the region, he lamented the situation whereby “the carpet is shifting under our feet. The IOCs (international oil corporations) have moved offshore. The issue before us now is how should the region act now. We should target big ticket investment proposals. This is because some proposals will involve other states. There is thus need to collaborate.”

He gave examples of projects that cannot be for one state. “Railway system is not for one state. At the moment, there is no railway line that links Benin to Port Harcourt to Calabar. BRACED can push this agenda.

“There is an oil route from Opobo to Akwa Ibom where Sterling Oil is operating. It’s a route of interest. Governor Sim Fubara wants us to synergise with other states economically. The best time is now because all the governors are now in one political party.”

He called on all the agencies in the BRACED states to sell the idea to their governors.

“Let the governors know that BRACED task is not a competition but as a collaboration. We have the Niger Delta Development Commission (NDDC), the South-South Chambers of Commerce, Industry, Mines and Agriculture (SSCCIMA), the Niger Delta Chambers of Commerce, Industry, Trade, Mines, and Agriculture (NDCCITMA), etc. This is the ripest time to strike the iron.”

The Director General of the Bayelsa Investment Promotion Agency (BIPA), Mrs. Patience Ranami Abah, also shook the floor when she presented what she termed ‘Closing the Value Capture Gap’.

She showed how the states will win bigger by playing together to present an economic front.

David Franklin, a deputy director, who represented the Permanent Secretary, Federal Ministry of Industry, Trade, and Investment, Abuja, said investment in people is the beginning of prosperity.

“The South-South is the hub of power of Nigeria due to the hydrocarbon industry, blue economy, agriculture, tourism, etc.”

The Director General, BRACED Commission, Amb.Joe Keshi, in his welcome remarks, said the roundtable was themed around synchrosnising investment frontiers in a strategic framework for south-south economic integration.

The roundtable ended with a communique that recommended setting up a monitoring committee, and other organs to drive integration and investment.

Some of the key resolutions in the Communique issued at the end of the two-day symposium included the call for a BRACED Investment Promotion Charter with a harmonized Regional Investment Promotion Framework and a roadmap.

The Communique called for infrastructure alignment, uniform economic reforms, human capital development plan, and a technical oversight group.

The communique urged state governments, investors, and development partners to collaborate in transforming the BRACED states into a beacon of economic dynamism.

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Easter: DHQ Orders Troop Alert, Confirms US Support

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The Defence Headquarters has placed troops on nationwide alert ahead of the Easter celebrations, assuring Nigerians of tightened security.

The DHQ also reaffirmed that ongoing support from the United States is strengthening counter-terrorism operations, with a visible impact expected in the coming weeks.

Addressing journalists during the end-of-the-month briefing on Tuesday in Abuja, the Director, Defence Media Operations, Maj Gen Michael Onoja, assured citizens of heightened vigilance by troops during the Easter celebrations.

Onoja said the Armed Forces had already placed personnel on alert nationwide to prevent any security breach during the holiday period.

He added that similar measures were implemented during previous festive seasons, including Christmas and Eid-el-Fitr, and would be sustained.

“We know that festive seasons usually have heightened security activities. The military command gives instructions to ensure all personnel are on alert. This time will not be different,” he said.

He emphasised that security agencies would not relax despite the celebrations, noting that adversaries often attempted to exploit such periods.

“I can assure you that we will always be on alert, particularly at this period of festivities, because we know that the threats expect us to relax.

“But we are not going to relax. Everything will be okay for this Easter,” he added.

Speaking on the ongoing collaboration with the US forces, Onoja said the impact of the collaboration may not be immediately visible due to the nature of military engagements, but expressed confidence that the benefits would become evident in the coming weeks and months.

He said the U.S. support to Nigeria’s operations had been significant, particularly in the areas of intelligence sharing and training, noting that the assistance was being provided on favourable terms to strengthen ongoing counter-threat operations.

According to him, “You are aware that they are bringing intelligence and training support to us, which we need. They are giving that to us on very favourable terms. There are lots of things I cannot say because of confidentiality.”

He added that the intelligence being provided included information on the location of threats and hostile elements, stressing that Nigerian troops would act accordingly.

“All we can say is that these things take time. There is a gestation period when we are conducting military operations.

“You will not see it immediately, but in the next few months or weeks, you will feel the difference in the impact of the assistance that the U.S. is providing,” Onoja stated.

On February 16, 2026, DHQ confirmed the arrival of approximately 100 US military personnel and equipment at Bauchi Airfield.

According to the military high command, the personnel, who are not combat troops, were in Nigeria strictly for technical assistance, training, and advisory roles in counter-terrorism efforts.

However, insecurity has continued to surge in several parts of the country since their deployment, raising concerns about the effectiveness of the collaboration.

 

 

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