Nation
FG, States, LGs Share N473.8bn For Oct
Nigeria’s earnings from oil exports dropped further in October, with a loss of about $1.3 million (about N256.1 million), as the slide in global crude oil prices continued to negatively impact the country’s economy.
The loss was a result of drop in average crude oil price from $47.315 a barrel in August to $46.96 in September, said the minister of finance, Kemi Adeosun.
However, compared to September, the revenue slide was relatively smaller.
Oil receipts which stood at about N213.128 billion in September, dropped by about N25.898 billion, to N187.23 billion in October, as the Federation Accounts Allocation Committee, FAAC, converged on Abuja on Friday to share the statutory allocation for the month.
At the close of trading on Friday, Brent crude oil price, which opened at $43.04 per barrel, dropped by 2.95 percent, to about $41.77, signalling no respite for Nigeria and other major oil producers struggling to keep their heads above the economic waters.
Members of the Organisation of Petroleum Exporting Countries, OPEC are already preparing for the 168th meeting of the group scheduled for Vienna, Austria next Friday to attempt to strike a compromise on how to stabilize the market and firm up commodity prices.
Members of the group are already jittery, amid fears that crude oil price may be heading towards the $20 per barrel mark, down from a peak of over $107 per barrel in June 2014, if steps were not taken to attempt to salvage the situation.
The N187.23 billion oil revenue in October would be the worst accrual from oil exports since the present administration took over power.
In May, FAAC reported a yield of about N225.2 billion, which increased to about N289.4 billion in June.
Although about N213.13 billion was realized as oil revenues in September, it was lower by about N2.85 billion than the N215.98 billion in August.
At the end of the FAAC meeting in October, the Accountant General of the Federation, Ahmed Idris, had explained that the drop in oil revenue was as a result of the negative impact of facility shutdowns for maintenance and production shut-ins at different periods and terminals during the month.
At the end of the FAAC meeting in Abuja on Friday, Minister of Finance, Kemi Adeosun, said gross revenue received in October stood at N400.310 billion, which is higher by N78.314 billion than the N321.996 billion for the previous month.
Mrs. Adeosun said intermittent shutdowns of operational facilities and production shut-ins for repairs and maintenance at different terminals continued to negatively impact on crude oil and gas revenue during the month.
Besides, the Minister said the country lost about $1.3 million (about N256.1 million) as a result of drop in average crude oil price from $47.315 in August to $46.96 in September.
To make up for the drop, Mrs. Adeosun said non-oil revenue recorded a significant improvement during the month, with about N104.212 billion collection above the figure in September.
In addition, about N6.33 billion was received from the Nigerian National petroleum Corporation, NNPC, as refund for the N450 billion unremitted revenue since 2012, while another N6.995 billion came into the government coffers as exchange gain for the month.
Apart from a total of N57.789 billion realised from value added tax, VAT, collection, the Minister said the balance in the excess crude oil revenue account remained ta $2.258 billion.
Details of the revenue allocations to the three tiers of government for the month showed that the Federal Government took N200.662 billion, or 52.68 per cent; states N126.277 billion, or 26.72 per cent; local governments N95.303 billion, while 13 per cent oil derivation to the nine oil producing states was N24.141 billion.
On stolen funds, which President Muhammadu Buhari said recently that some public officials have started returning to the Federal Government, the Minister said such monies were not part of the revenues shared during the FAAC meeting.
“Recovered loot is not shared in the FAAC meeting,” the minister said. “We have no records of recovered loots. But, I am sure the process is on-going. When the accounts of such returns become available, they would be returned to wherever they were stolen from.”
Nation
Kwara Community Residents Flee Over Persistent Bandits’ Attacks
Residents of Omugo Community in Ifelodun Local Government Area of Kwara State have deserted their homes due to persistent bandit attacks.
The Tide’s source reports that the once lively community has turned into a ghost town with only a few domestic animals left.
Reports indicate that the recent bandits’ attack on the Omugo ECWA Church via Oro-Ago, led to the abduction of eight worshippers including the wife of the pastor in charge.
Three persons escaped out of the eight abductees with a N1billion ransom placed on the remaining victims in captivity. The community could only gather N1million which was rejected by the bandits.
Last week, the armed bandits invaded Oro-Ago community, killed one vigilante man identified as Baba Ibeji and injured his younger brother known as Ajere.
A Point of Sales, PoS, shop directly opposite the Nigeria Security and Civil Defense Corps, NSCDC, Divisional office, was broken into by the bandits.
The gunmen also attacked the NSCDC office and sprayed bullets on the facility, though no casualty was recorded.
In earlier attacks on Oro-Ago environs, armed bandits ambushed a convoy between Oro-Ago and Oke-Ayan in Ilere district of Ifelodun Local Government Area and killed two local hunters on escort duty.
On Saturday, there was tension in Oro-Ago following a security alert that armed bandits were regrouping to launch fresh attacks on the community.
All security formations were, however, placed on ‘Red Alert’ to forestall the planned attack.
Nation
Acting Provost Dismisses Alleged Missing Equipment Claims at Rivers Health College
The Acting Provost of the Rivers State College of Health Science and Management Technology, Dr. (Mrs.) Peace Chigozirim Amadi has refuted claims circulating in the media suggesting that laboratory equipment went missing from the college.
In a recent statement, Dr. Amadi described the reports—particularly those attributed to certain publications—as false and misleading. She emphasized that all laboratory equipment at the college remain intact.
“I am here to set the record straight. No laboratory equipment disappeared from my college. Nothing is missing,” Dr. Amadi said, challenging anyone with contrary claims to provide evidence, including the names of the equipment and their supposed locations.
She further noted that the college recently underwent an accreditation exercise, during which significant investments were made in laboratory equipment. According to Dr. Amadi, these items are fully accounted for, and the college maintains a robust security system to protect its assets.
“Everything is intact. Nothing disappeared. The information being circulated is false and should be discarded,” she reiterated.
Beyond addressing the allegations, Dr. Amadi also called on media practitioners to exercise professionalism and verify stories before publication. “I want to plead with journalists to always verify their stories. Junk journalism does not help anyone. No matter the information you receive, it is important to hear the other side before publishing,” she said.
While social media posts have occasionally raised concerns about various issues in the region’s health education sector, including extortion and examination malpractice at related institutions, there is no independent evidence from credible news sources confirming that equipment went missing from Rivers State College of Health Science and Management Technology.
The college, a public tertiary institution based in Port Harcourt, Rivers State, is accredited to offer a variety of health-related programs, including Nursing, Midwifery, Laboratory Technology, and Environmental Health. It has consistently emphasized integrity, safety, and transparency in its operations.
Dr. Amadi’s statement seeks to reassure the public, students, and stakeholders that the college remains secure, well-managed, and free from the alleged equipment losses, while urging journalists to prioritize accuracy in reporting.
Nation
HYPREP Reaffirms Commitment to Safe Water Supply In Ogoni
As the world commemorates World Water Day, the Hydrocarbon Pollution Remediation Project (HYPREP) has reaffirmed its commitment to providing potable water across Ogoni communities, in line with the recommendations of the United Nations Environment Programme (UNEP) Report on the Ogoni Environment.
In a statement issued by its Project Coordinator, Nenibarini Zabbey, on March 22, 2026, HYPREP noted that this year’s theme, “Water and Gender,” alongside the campaign slogan, “Where Water Flows, Equity Grows,” underscores its resolve to extend potable water supply beyond oil-impacted communities to all Ogoni communities.
Zabbey emphasized that access to clean water is a fundamental human right, adding that HYPREP remains committed to ensuring inclusive and equitable water access across the region.
He disclosed that the agency has successfully provided potable water to over 43 communities in Ogoni, while ongoing Phase 3 water projects are expected to benefit an additional 17 communities. He also highlighted steady progress on windmill-powered water projects in less populated areas, particularly in Khana Local Government Area.
According to him, the K-Dere Water Project, which is over 99 percent complete, will be commissioned in the coming weeks, even as work continues on other water schemes across Ogoni.
Zabbey further noted that HYPREP’s interventions are aligned with the United Nations Sustainable Development Goal 6, which focuses on ensuring the availability and sustainable management of water and sanitation for all by 2030.
To ensure sustainability, he explained that the agency has adopted a joint management model involving host communities, the Rivers State Ministry of Water Resources and Rural Development, and the Rivers State Small Towns Water Supply and Sanitation Agency (RSSTOWA). He added that Water Consumers’ Associations have been established in communities such as Nchia and Eleme, alongside training programmes conducted in collaboration with non-governmental organisations.
The Project Coordinator stressed the importance of community ownership and protection of water facilities, echoing the call by the Minister of Environment, Balarabe Abbas Lawal, for residents to safeguard the infrastructure provided in their areas.
Zabbey expressed optimism that the ongoing efforts will significantly improve access to safe drinking water, reduce waterborne diseases, and enhance public health outcomes across Ogoni communities.
-
News17 hours agoRSG Reiterates Commitment To Youth Dev
-
Oil & Energy14 hours agoTranscorp Energy, Renewvia Partner On Renewable Energy Gap
-
Rivers14 hours agoPolice Launch Community-Centred National Day Celebration In Rivers, Today
-
Business14 hours agoNSCDC Discloses Illegal Dump Site In Ikwerre Community
-
Business14 hours agoYenagoa’s Radisson Hotel Ready December — NCDMB, Other
-
Maritime14 hours agoMWUN Raises Alarm Over Port Security Lapses In Lagos
-
Environment14 hours agoFG Alls For stronger Partnerships, Women Inclusion In Water Governance
-
Maritime14 hours agoNNS Hands Over Two Suspected Stowaways to Immigration Service
