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NAEE President Wants Buhari To Sign PIGB

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The President, Nigerian Association for Energy Economics (NAEE), Prof. Wumi Iledare, last Saturday urged President Muhammadu Buhari to sign the Petroleum Industry Governance Bill (PIGB) before 2019 elections campaigns begin.
Iledare made the call at a pre-conference news briefing in Abuja, ahead of the 11th NAEE/IAEE International Conference beginning today.
The National Assembly passed the bill on March 28 following the unanimous adoption of a report on the Bill presented by Chairman, Senate Committee on Petroleum (Upstream), Sen. Tayo Alasoadura.
In passing the bill, the lawmakers approved in it, five per cent levy on petroleum products sold in the country.
Iledare urged Buhari to assent to the bill quickly as it still had 12 months to 24 months transition period after the president’s assent “to cushion any event of macro-economic shock”.
“I am not saying he shouldn’t evaluate. He should not assent to it without reviewing it further and that is why we have separation of powers.
“I think he has sent the bill to some critical sectors in the executive arm to look at it to get informed. If I am to advise the executive, I will say look ahead, not the now.
“If I were the president, I will sign it before the election campaigns begin because it will give him something to say look, I have done it after 18 years.
“The president needs an energy council, a competent body of energy professionals to look at the energy supply mix for Nigeria, just like you have in some other places.
“The reason why you see the shale gas developments in the U.S. is because of the Potential Natural Gas Committee that has existed for many years.
“I said this when Buhari came to power, that there is an energy council that is moribund and should be revamped,’’ Iledare said.
He said the Nigeria National Petroleum Corporation (NNPC) was experiencing under-recovery because it could not recover what it pays for in dollars using naira in an unstable market.
“We warned the government then, at that particular time there was an opportunity not to put any price because the price on the street was already N200.
“Unfortunately, you cannot recover what you pay for in dollars using naira, when the exchange rate is unstable and that is what we have.
“I think also that if you look at the industry, we are not in any way operating a deregulated downstream, what we have is what I will call a price ceiling that has been misinterpreted as a price floor.
“This means that when you have a price ceiling, you do not want the price to go beyond that yet, the equilibrium price is somewhere high.
“This is because when you have a price floor, equilibrium is supposed to be below the price floor, and that is more or less a misinterpretation.’’
According to him, under-recovery will not continue for a long time because when the PIGB is assented to, the NNPC becomes a commercial entity with shareholders that will receive dividends.
“This means that there will be key performance indicators that whoever is heading NNPC will deliver to shareholders,’’ Iledare said.
On his part, Vice President of NAEE, Prof. Adeola Adenikinju, said he was worried about the structure of subsidy in Nigeria.
“If you look at Kerosene, the poor people buy it at market price; diesel, the companies buy at market price and petrol, which is the product that is widely used by the elite, is the one that has this kind of issue.

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TCN Announces Blackout In Five States

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The Transmission Commission of Nigeria has announced electricity disruption in parts of Kano, Katsina, Jigawa, Bauchi, and Yobe States, as well as Gazaoua in the Niger Republic.

The spokesperson of TCN, Ndidi Mbah, disclosed this in a statement yesterday

The outage is due to planned maintenance at Kumbotos’ 330 kilovolt transmission substation on Sunday.

Consequently, electricity customers served by Kano Electricity Distribution Company, Kaduna Electricity Distribution Company, and Yola Electricity Distribution Company will experience power disruption.

“The scheduled maintenance is to enable the TCN contractor to continue the ongoing upgrade of 330kV bus II jumpers and replace the existing 350mm² conductors with 800mm² conductors in order to strengthen the transmission network and improve power reliability.

“As a result, Kano Electricity Distribution Company (KEDCO) and some part of Jos Electricity Distribution Company (JEDC) and Yola Electricity Distribution Company (YEDC) will be unable to off-take power for distribution to their customers in Kano, Katsina, and Jigawa States, as well as Azare in Bauchi State, Nguru in Yobe State, and also Gazaoua in the Niger Republic,” TCN stated.

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Probe N6.3bn Constituency Funds Or Face Legal Action, SERAP Tells Akpabio, Abbas

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The Socio-Economic Rights and Accountability Project (SERAP) has called on Senate President, Godswill Akpabio, and Speaker of the House of Representatives, Tajudeen Abbas, to refer allegations of the diversion or non-accounting of over ?6.3 billion in constituency project funds to anti-corruption agencies for investigation and possible prosecution.

 

The group also urged the National Assembly leadership to ensure that anyone found culpable is prosecuted where sufficient admissible evidence exists, while all diverted or unaccounted public funds are recovered and paid into the treasury.

 

In a letter dated June 27, 2026, and signed by its Deputy Director, Kolawole Oluwadare, SERAP said the allegations were contained in the Auditor-General of the Federation’s 2022 Annual Report, published on September 9, 2025.

 

The organisation disclosed this in a statement signed and released by Oluwadare, yesterday.

 

SERAP also asked Akpabio and Abbas to disclose the identities of contractors and companies, including their shareholders and beneficial owners, that allegedly received constituency project funds but failed to execute the projects.

 

It gave the National Assembly seven days to act on its recommendations, warning that it would institute legal proceedings should the legislature fail to respond.

 

“We would be grateful if the recommended measures are taken within seven days of the receipt and/or publication of this letter. If we have not heard from you by then, SERAP shall take all appropriate legal actions to compel you and the National Assembly to comply with our request in the public interest,” the letter stated.

 

It said, “The allegations involve several federal ministries, departments and agencies, including the Environmental Health Registration Council of Nigeria (EHORECON); the Federal College of Animal Health and Production Technology, Volm; the Federal Polytechnic, Udana; the National Agency for the Prohibition of Trafficking in Persons (NAPTIP); and the National Institute of Legislative and Democratic Studies (NILDS).

 

“The Auditor-General identified numerous cases of payments into private bank accounts, contracts awarded without due process, payments for contracts not executed or services not rendered, undocumented expenditures, inflated contracts, procurement irregularities and failures to account for public funds, recommending in each case that the funds be recovered and remitted to the treasury.

 

“According to the 2022 audited report, contained in pages 367 to 396, the Environmental Health Registration Council of Nigeria (EHORECON or Council) Abuja paid over ‘N22 million [N22,944,565.16] into the private account of some members of staff of the Council from the Constituency Projects Fund Account.

 

“There ‘was no evidence of the utilization of the funds and no explanations on the purpose for the payment of such amount into the individual accounts.”

 

SERAP added, “The Council (EHORECON) also in 2021 ‘awarded suspicious consultancy contracts of over N12 million [N12,030,818.29] for the development of Modern Abattoirs in Kebbi State and the supervision of 7 projects in Kebbi, Jigawa, and Headquarters Abuja.

“The money was to ‘produce bills of quantity, architectural design, structural design, mechanical design, and electrical designs for the contracts and supervision.’ But ‘the ‘items could not be found.’”

 

Altogether, SERAP said the Auditor-General’s 2022 report alleged EHORECON paid more than ?1.8 billion in constituency project funds through questionable transactions.

 

For the Federal College of Animal Health and Production Technology, Vom, SERAP said the institution “in 2022 reportedly ‘paid over N279 million [N279,700,500.00] to 3 contractors to empower and train youths in selected vocational areas in Borgu and Kontagora, Niger State, train women and youths in entrepreneurship in Niger East Senatorial District and to train youths and women in agro production and self-reliance in Barki Ladi/Riyom Federal Constituency, Plateau State.

 

“But the money was paid to the contractors without any document.’”

 

Other irregularities involving the college include another ?279.7 million in mobilisation fees allegedly paid without documentation, and more than ?629.4 million paid to unqualified contractors for various constituency projects without evidence of due process, contract advertisements or details of the contractors.

 

SERAP further alleged that the Auditor-General’s report identified multiple financial irregularities involving the Federal Polytechnic, Ukana, Akwa Ibom State, including over ?407 million allegedly paid as mobilisation fees without supporting documents, more than ?399 million paid to unqualified contractors, contracts allegedly inflated by over ?192 million, over ?279 million paid for projects not fully executed, ?50 million allegedly paid for an unexecuted borehole project, and more than ?83 million disbursed without the required documentation or approvals.

 

It also alleged that NAPTIP reportedly irregularly awarded contracts worth over ?21.8 million, paid more than ?176.8 million for logistics and consultancy services without supporting documents, and disbursed over ?89.6 million and ?4.4 million for projects that were allegedly not executed.

 

The report also alleged that NILDS failed to submit audited financial statements for 2012 to 2022, did not remit over ?15 million in stamp duties, and spent ?1.6 million without authorisation from the Office of the Accountant-General of the Federation.

 

SERAP said the report recommended the recovery of the affected funds and their remittance to the treasury.

 

It argued that corruption in constituency projects disproportionately affects poor and vulnerable Nigerians by diverting resources meant for public services and development.

 

It added that the National Assembly, in exercising its oversight responsibilities, should demonstrate leadership by ensuring accountability in the management of constituency project funds.

 

The organisation further argued that the allegations, if established, would amount to breaches of the Constitution, the Fiscal Responsibility Act 2007 and the Public Procurement Act 2007, which require transparency, accountability and due process in the management of public resources.

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RSG Assures Timely Completion Of Ongoing Projects In Rivers

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The Rivers State Government has assured the timely completion of all ongoing projects in the State.

 

The State Commissioner for Works, Professor (Engr) Temple Nwofor, gave the assurance in an interview with newsmen during the June induction ceremony of the Nigerian Society of Engineers, Port Harcourt branch, at the weekend in Port Harcourt.

 

He said most ongoing projects have their timeline and will be completed as scheduled.

“All our ongoing projects are doing well. They are doing well.

 

” I don’t think there are any issues with them, they are progressing very well .

 

“They all have their timeline, those that have their timeline will definitely finish, most of the signature projects,” he said.

 

Nwofor who was the Guest of Honour at the induction ceremony, also called for continuous professional development among Engineers to keep them abreast with modern trends in the profession.

 

He also urged them to acquire other skills that will make them useful in their careers.

 

Speaking on “Engineering Beyond the Drawing Board Through Ethical Leadership and Service To Society,” the guest lecturer, Dr Ibiye Amafabia called for continuous professional development.

 

“Ethical leadership demands that we stay current through continuous professional development.

 

“Leverage on trainings, workshops, seminars and conferences organised by NSE and your various divisions to keep yourselves abreast of new development.”

 

Amafabia further said engineers must be accountable for any projects, and and warned against shifting of blame especially when projects fail.

 

She also urged engineers to be good citizens of their communities by helping their xommunities overcome challenges of flooding, building collapse and oil spills, among others.

 

“In Port Harcourt, the capital of Nigeria’s oil and gas industry, the ethical challenges are immense.

 

“We see the environmental impact of decades of extraction, we see the tension between industrial profit and community well-being.

 

“The ethical engineer is a mediator, a steward of the environment and an advocate for the vulnerable,” she said.

 

In his welcome address, Chairman, Nigerian Society of Engineers, Port Harcourt branch, Engr. Belema Ekine, said the society has a rich legacy of excellence, innovation and service spanning decades.

 

Ekine said engineers hold the key to solving complex challenges, shaping the infrastructure of communities and drive technological advancement that benefits society at large.

 

He charged the new inductees to see themselves as torchbearers of the society future, saying “it is upon your shoulders that the responsibility rests to uphold the highest standard of professionalism, ethics and integrity.

 

“Embrace the principles of lifelong learning, for the field of engineering is ever evolving.

“Seek opportunities for continuous growth, nurture your skills and stay at the forefront of emerging technologies.” he charged.

 

John Bibor/Alyede Promise/Membere Orinaemi/Iyoma Oluebube

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