Featured
Buhari Orders Forensic Audit Of NDDC …Slashes Ministers’ Foreign Trips, Estacodes To Cut Cost
President Muhammadu Buhari, yesterday, ordered a forensic audit of the operations of the Niger Delta Development Commission (NDDC) from 2001 to 2019.
Buhari, in statement issued by his Special Adviser on Media and Publicity, Chief Femi Adesina, said the action was taken out of worry over criticisms of the operations of the commission, and after he received governors of nine states that make up the commission, who had called for the repositioning of the NDDC.
The delegation was led by Governor Seriake Dickson of Bayelsa State,
According to the President, what is presently on the ground in the South-South region does not justify the huge resources that have been made available to the organisation.
He said, “I try to follow the Act setting up these institutions, especially the NDDC. With the amount of money that the Federal Government has religiously allocated to the NDDC, we will like to see the results on the ground; those that are responsible for that have to explain certain issues.
“The projects said to have been done must be verifiable. You just cannot say you spent so much billions and when the place is visited, one cannot see the structures that have been done. The consultants must also prove that they are competent.
“The President admitted that developing the Niger Delta area required enormous resources compared to other parts of the country with firmer lands”.
He said, “I am acutely aware, with my experience, that projects in your area are very expensive; that is why if any job is given, we must make sure that the company is competent and has the capacity to do it well with experienced consultants.”
He, however, said that he would wait for the report of the audit before deciding on the next line of action regarding the NDDC.
Dickson had earlier expressed the disappointment of other governors with the operations of the NDDC, which they said was characterised by poor choice of projects, shoddy handling, uncompleted jobs and lack of the required support for the efforts of the states and local government administration in the region covered by the organisation.
He called for the repositioning of the NDDC in order to achieve the objectives for which it was set up. Briefing journalists after the meeting, Dickson, who is also chairman of the South-South Governors Forum, listed the NDDC states as Rivers, Akwa Ibom, Delta, Edo, Cross River, Bayelsa, Abia, Imo and Ondo.
He said, “Our concern has to do with the stability and development of the Niger Delta. We had a robust discussion with Mr. President who fully understands the challenges that come with development, and he promised to look into the challenges which he’s aware of and we all agreed to work together”.
Present at the meeting were Governors Ifeanyi Okowa (Delta); Nyesom Wike (Rivers); Seriake Dickson (Bayelsa); Deputy Governor of Edo State, Philip Shaibu; Minister of Niger Delta Affairs, Senator Godswill Akpabio; Minister of State for Niger Delta, Senator Tayo Alasoadura; among others.
Meanwhile, President Muhammadu Buhari has reduced the number and duration of foreign trips for ministers and other categories of government officials in a move described as cost-saving measure to achieve fiscal prudence.
In a statement signed by the Director of Information at the Office of the Secretary to the Government of the Federation, Willie Bassey, the President also removed travelling financial benefit known as estacode allowance and cut down the number of persons permitted to travel with the ministers and other government officials for official trips.
The President, however, approved the use of business class for ministers and economy class for lower categories of government officials.
However, approval for such trips must be sought through the office of the SGF or Head of the Civil Service of the Federation, the statement added.
The statement read, “In a bid to curb leakages and ensure efficiency in the management of resources of government, President Muhammadu Buhari has approved, for immediate implementation, additional cost-saving measures aimed at instilling financial discipline and prudence, particularly, in the area of official travels.
“Henceforth, all Ministries, Departments and Agencies (MDAs) are required to submit their yearly travel plans for statutory meetings and engagements to the Office of the Secretary to the Government of the Federation and/or the Office of the Head of Civil Service of the Federation for express clearance within the first quarter of the fiscal year, before implementation.
“For class of air travels, the President has approved that ministers, permanent secretaries, special advisers, senior special assistants to the President, chairmen of extra-ministerial departments and chief executive officers of parastatals, who are entitled will continue to fly business class while other categories of public officers are to travel on economy class.
“Travel days will no longer attract payment of estacode allowances as duration of official trips shall be limited to only the number of days of the event as contained in the supporting documents to qualify for public funding.”
The statement added that only trips that would benefit the country must be embarked upon by the affected officials, noting also that ministers and other categories of government officials must not travel more than twice within a quarter of a year except with the permission of the President.
It noted, “On the nature and frequency of travels, all public funded travels (local and foreign), must be strictly for official purposes backed with documentary evidence. In this regard, all foreign travels must be for highly essential statutory engagements that are beneficial to the interest of the country.
“Except with the express approval of Mr President, ministers, permanent secretaries, chairmen of extra-ministerial departments, chief executive officers and directors are restricted to not more than two foreign travels in a quarter. The Auditor-General of the Federation has been directed to treat all expenditures that contravene these guidelines as ineligible.”
Reacting, a financial expert, Mr Momoh Aliyu, has urged state governors to emulate the Federal Government by cutting down their travelling expenses and utilise it for development projects.
Aliyu gave the advice in an interview with newsmen, in Abuja, yesterday.
The expert was reacting to directive by the Federal Government that henceforth there would be slash in travelling expenses of its officials.
Aliyu, who is also the managing director of Cyber1 Systems Network International, explained that the development was a wake-up call to governors, and indeed, all other governments’ agencies in the country.
He said overhead cost of travelling in the budget was alarming and taking chunks of the vote heads.
“The action by the president is an act of setting the pace to other parastatals, ministries and states governments,’’ he said.
The expert said that the Nigerian Government had over the years been criticised of wasting and mismanaging the scarce resources.
He described the development as the right step in the right direction.
“The ministers and other government functionaries should understand the need to be on seat to attend to pressing issues.’’
Aliyu also acknowledged the efforts of the ministry of technology in ensuring e-government systems.
But the Peoples Democratic Party (PDP), yesterday, reacted after President Muhammadu Buhari restricted foreign travels to two per quarter for heads of Ministries, Departments, and Agencies.
The government also cancelled first-class air tickets for some category of officials.
However, PDP challenged Buhari to “lead by example by ending the profligacy that pervades his Presidency in order to give validity to his directives to ministers and other functionaries.”
In a statement by its spokesperson, Kola Ologbondiyan, the former ruling party berated the President for approving the appointment of two aides for his wife, Aisha.
The party charged the Buhari Buhari Presidency to explain the “basis and source of Presidential support for the Office of the First Lady, including the appointment of aides, contrary to his promise not to run that office.
President Bola Tinubu yesterday signed into law four tax reform bills aimed at transforming Nigeria’s fiscal and revenue framework.
The four bills include: the Nigeria Tax Bill, the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill.
They were passed by the National Assembly after months of consultations with various interest groups and stakeholders.
The ceremony took place at the Presidential Villa, yesterday.
The ceremony was witnessed by the leadership of the National Assembly and some legislators, governors, ministers, and aides of the President.
The presidency had earlier stated that the laws would transform tax administration in the country, increase revenue generation, improve the business environment, and give a boost to domestic and foreign investments.
“When the new tax laws become operational, they are expected to significantly transform tax administration in the country, leading to increased revenue generation, improved business environment, and a boost in domestic and foreign investments,” Special Adviser to the President on Media, Bayo Onanuga said on Wednesday.
Before the signing of the four bills, President Tinubu had earlier yesterday, said the tax reform bills will reset Nigeria’s economic trajectory and simplify its complex fiscal landscape.
Announcing the development via his official X handle, yesterday, the President declared, “In a few hours, I will sign four landmark tax reform bills into law, ushering in a bold new era of economic governance in our country.”
Tinubu made a call to investors and citizens alike, saying, “Let the world know that Nigeria is open for business, and this time, everyone has a fair shot.”
He described the bills as not just technical adjustments but a direct intervention to ease burdens on struggling Nigerians.
“These reforms go beyond streamlining tax codes. They deliver the first major, pro-people tax cuts in a generation, targeted relief for low-income earners, small businesses, and families working hard to make ends meet,” Tinubu wrote.
According to the President, “They will unify our fragmented tax system, eliminate wasteful duplications, cut red tape, restore investor confidence, and entrench transparency and coordination at every level.”
He added that the long-standing burden of Nigeria’s tax structure had unfairly weighed down the vulnerable while enabling inefficiency.
The tax reforms, first introduced in October 2024, were part of Tinubu’s post-subsidy-removal recovery plan, aimed at expanding revenue without stifling productivity.
However, the bills faced turbulence at the National Assembly and amongst some state governors who rejected its passing in 2024.
At the NASS, the bills sparked heated debate, particularly around the revenue-sharing structure, which governors from the North opposed.
They warned that a shift toward derivation-based allocations, especially with VAT, could tilt fiscal balance in favour of southern states with stronger consumption bases.
After prolonged dialogue, the VAT rate remained at 7.5 per cent, and a new exemption was introduced to shield minimum wage earners from personal income tax.
By May 2025, the National Assembly passed the harmonised versions with broad support, driven in part by pressure from economic stakeholders and international observers who welcomed the clarity and efficiency the reforms promised.
In his tweet, Tinubu stressed that this is just the beginning of Nigeria’s tax evolution.
“We are laying the foundation for a tax regime that is fair, transparent, and fit for a modern, ambitious Nigeria.
“A tax regime that rewards enterprise, protects the vulnerable, and mobilises revenue without punishing productivity,” he stated.
He further acknowledged the contributions of the Presidential Fiscal Policy and Tax Reform Committee, the National Assembly, and Nigeria’s subnational governments.
The President added, “We are not just signing tax bills but rewriting the social contract.
“We are not there yet, but we are firmly on the road.”
The Senate has issued a 10-day ultimatum to the Nigerian National Petroleum Company Limited (NNPCL) over its failure to appear before the Senate Committee on Public Accounts probing alleged financial discrepancies amounting to over ?210 trillion in its audited reports from 2017 to 2023.
Despite being summoned, no officials or external auditors from NNPCL showed up yesterday.
However, representatives from the representatives of the Economic and Financial Crimes Commission, Independent Corrupt Practices and Other Related Offences Commission and Department of State Services were present.
Angered by the NNPCL’s absence, the committee, yesterday, issued a 10-day ultimatum, demanding the company’s top executives to appear before the panel by July 10 or face constitutional sanctions.
A letter from NNPCL’s Chief Financial Officer, Dapo Segun, dated June 25, was read at the session.
It cited an ongoing management retreat and requested a two-month extension to prepare necessary documents and responses.
The letter partly read, “Having carefully reviewed your request, we hereby request your kind consideration to reschedule the engagement for a period of two months from now to enable us to collate the requested information and documentation.
“Furthermore, members of the Board and the senior management team of NNPC Limited are currently out of the office for a retreat, which makes it difficult to attend the rescheduled session on Thursday, 26th June, 2025.
“While appreciating the opportunity provided and the importance of this engagement, we reassure you of our commitment to the success of this exercise. Please accept the assurances of our highest regards.”
But lawmakers rejected the request.
The Committee Chairman, Senator Aliyu Wadada, said NNPCL was not expected to submit documents, but rather provide verbal responses to 11 key questions previously sent.
“For an institution like NNPCL to ask for two months to respond to questions from its own audited records is unacceptable,” Wadada stated.
“If they fail to show up by July 10, we will invoke our constitutional powers. The Nigerian people deserve answers,” he warned.
Other lawmakers echoed similar frustrations.
Senator Abdul Ningi (Bauchi Central) insisted that NNPCL’s Group CEO, Bayo Ojulari, must personally lead the delegation at the next hearing.
The Tide reports that Ojulari took over from Mele Kyari on April 2, 2025.
Senator Onyekachi Nwebonyi (Ebonyi North) said the two-month request suggested the company had no answers, but the committee would still grant a fair hearing by reconvening on July 10.
Senator Victor Umeh (Anambra Central) warned the NNPCL against undermining the Senate, saying, “If they fail to appear again, Nigerians will know the Senate is not a toothless bulldog.”
Last week, the Senate panel grilled Segun and other top executives over what they described as “mind-boggling” irregularities in NNPCL’s financial statements.
The Senate flagged ?103 trillion in accrued expenses, including ?600 billion in retention fees, legal, and auditing costs—without supporting documentation.
Also questioned was another ?103 trillion listed under receivables. Just before the hearing, NNPCL submitted a revised report contradicting the previously published figures, raising more concerns.
The committee has demanded detailed answers to 11 specific queries and warned that failure to comply could trigger legislative consequences.
The National Association of Nigerian Travel Agencies (NANTA) said over 17 million Nigerians travelled out between 2023 and 2024.
This is as the association announced that it would be organising a maiden edition of Eastern Travel Market 2025 in Uyo, Akwa Ibom State capital from 27th to 30th August, 2025.
Vice Chairman of NANTA, Eastern Zone, Hope Ehiogie, disclosed this during a news briefing in Port Harcourt.
Ehiogie explained that the event aims to bring together over 1,000 travel professionals to discuss the future of the industry in the nation and give visibility to airlines, hospitality firms, hospitals and institutions in the South-South and South-East, tagged Eastern Zone.
He stated that the 17 million number marks a significant increase in overseas travel and tours.
According to him, “Nigerian travel industry has seen significant growth, with 17 million people traveling out of the country in 2023”.
Ehiogie further said the potential of tourism and travel would bring in over $12 million into the nation’s economy by 2026, saying it would be a major spike in the sector, as 2024 recorded about $4 million.
“The potential of tourism and travel is that it can generate about $12 million for the nation’s economy by 2026. Last year it was $4 million.
“In the area of travels, over 17 million Nigerians traveled out of the country two years ago for different purposes. This included, health, religious purposes, visit, education and others,” Ehiogie said.
While highlighting the potential of Nigeria’s tourism, he said the hospitality industry in Nigeria has come of age, saying it is now second to none.
The Vice Chairman of NANTA, Eastern Zone further said, “We are not creating an enabling environment for business to thrive. We need to support the industry and provide the necessary infrastructure for growth.”
He said the country has a lot of tourism potential, especially as the government is now showing interest in and supporting the sector.
Ehiogie emphasized that NANTA has been working to support the industry with initiatives such as training schools and platforms for airlines and hotels to sell their products.
He added, “We now have about four to five training schools in the region, and within two years, the first set of students will graduate. We are helping airlines sell tickets and hotels sell their rooms.”
Also speaking, former Chairman of the Board of Trustees of NANTA, Stephen Isokariari of Dial Travels, called for more support from the industry.
Isokariari stated, “We need to work together to grow the industry and contribute to the nation’s Gross Domestic Product.
“With the right support and infrastructure, the Nigerian travel industry has the potential to make a significant contribution to the nation’s economy.”