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Reps, DPR Bicker Over Okrika Oilfield Revocation, Awards

The House of Representatives’ Committee on Public Petitions and the Department of Petroleum Resources (DPR) are at daggers drawn over Dawes Island marginal field lost by Euroafric for holding the national asset without production, and making it unviable for 17 years.
The Minister of Petroleum Resource, through the Department of Petroleum Resources (DPR), had awarded the field to Petralon 54 Limited and its partners during the last bid round, a decision that was countered by Euroafric through a petition to the House Committee on Petitions.
The DPR had revoked the licences of 11 marginal field operators for non-performance, including Dawes Island marginal field located in OPL2006, Okrika, Rivers State.
The DPR justified the revocation of the field licence on the ground that Dawes Island marginal field was operated by Euroafric Energy Limited for over 16 years without significant progress to attain full production, and failure to submit field development plan for the asset.
According to the DPR Director, Sarki Auwalu, the decision was taken in the best interest of the nation.
The House of Representatives’ Committee on Public Petitions was, however, quoted to have reversed the DPR’s award of Dawes Island marginal field to Petralon 54 Limited and its partners, arguing that the action did not comply with the principles of equity and fairness, even when available information suggests that Euroafric had no financial or material investment in the assets development, leading to non-performance.
But the committee on its part, said the three companies should benefit from any re-award of the asset, which it said should be restored to pre-revocation status in the interest of equity and national interest.
It alleged that there was an ulterior motive in re-awarding the licence to Petralon 54 alone, when Euroafric and Tako, Petralon 54 were supposed to be punished for the same offence.
Though, the Committee on Public Petitions is yet to present its report on the matter, there have been widespread report that the contract had been revoked by the House Committee.
However, oil and gas experts insist that the House of Representatives lacked the power to reverse oilfields’ award done by the regulator.
Firing the first salvo, the immediate past Chairman, Society of Petroleum Engineers, Joe Nwakwe, said that there was a clear distinction between regulation and governance, calling for caution in a bid not to send a wrong signal to investors because of interference with regulation.
Echoing similar sentiments, Adebayo Alamutu maintained that the House of Representatives Committee on Petitions may be doing more harm to the nation’s economy and reputation before the investors with its usurpation of power that does not belong to it.
“First, there is no controversy in this matter. The minister has delegated the power to award and revoke oil blocks to the DPR, which is the regulator. The DPR, on the other hand, has said that it revoked the Dawes oilfield from Euroafric, Tako and Petralon 54 JV over lack of competence and needless rendering of the national asset unproductive for many years.
“It is not only against the dictates of the Petroleum Act, it is against development. It is so dangerous to what we preach as a country on division of power. It will be so scary for the investors,” he said.
Marginal fields are smaller oil blocks typically developed by indigenous companies, and have remained unproduced for a period of over 10 years.
At the presentation of letters to the winners, DPR Director, Sarki Auwalu, stated that a total of 591 firms submitted expression of interest forms, out of which 540 were pre-qualified, while 482 were bids submitted by 405 applicants.
He said, “In the end, 161 companies were shortlisted as potential awardees, out of which 50 per cent has met all conditions, and therefore, eligible for awards, today. We are set to ensure opportunities are extended to other deserving applicants to fill the gap.
“The DPR is not just a regulator, we are an opportunity house. We drive creativity and transformation, and we use these in all of our activities. This is done in the overriding national interest.”
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INEC To Unveil New Party Registration Portal As Applications Hit 129

The Independent National Electoral Commission (INEC) has announced that it has now received a total of 129 applications from associations seeking registration as political parties.
The update was provided during the commission’s regular weekly meeting held in Abuja, yesterday.
According to a statement signed by the National Commissioner and Chairman of the Information and Voter Education Committee, Sam Olumekun, seven new applications were submitted within the past week, adding to the previous number.
“At its regular weekly meeting held today, Thursday 10th July 2025, the commission received a further update on additional requests from associations seeking registration as political parties.
“Since last week, seven more applications have been received, bringing the total number so far to 129. All the requests are being processed,” the commission stated.
The commission revealed the introduction of a new digital platform for political party registration. The platform is part of the Party Financial Reporting and Auditing System and aims to streamline the registration process.
Olumekun disclosed that final testing of the portal would be completed within the next week.
“INEC also plans to release comprehensive guidelines to help associations file their applications using the new system.
“Unlike the manual method used in previous registration, the Commission is introducing a political party registration portal, which is a module in our Party Financial Reporting and Auditing System.
“This will make the process faster and seamless. In the next week, the commission will conclude the final testing of the portal before deployment.
“Thereafter, the next step for associations that meet the requirements to proceed to the application stage will be announced. The commission will also issue guidelines to facilitate the filing of applications using the PFRAS,” the statement added.
In the meantime, the list of new associations that have submitted applications has been made available to the public on INEC’s website and other official platforms.
Featured
Tinubu Signs Four Tax Reform Bills Into Law …Says Nigeria Open For Business

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.”
Featured
Senate Issues 10-Day Ultimatum As NNPCL Dodges ?210trn Audit Hearing

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.
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