Business

Saving Our Commonwealth: Thoughts on Legislative Oversight

Published

14 years ago

June 8, 2012

In 1787, the United States gave the world a unique gift. Through the famous Philadelphia Convention, Congressional Oversight came into existence as a means of reviewing, monitoring and supervising government agencies, programmes and activities. Aside the American Congress which continues to exercise this legislative power through the Congressional Committee System, other democracies including Nigeria are today partakers of this great tradition.

Perhaps initiators of the concept of legislative oversight acknowledged the fact that human beings when entrusted with responsibility and commonwealth are likely to abuse the privilege, hence the need for checks and close watching. There is no where that the tendency to abuse office and commonwealth is more glaring than the Third World countries such as Nigeria and other Sub-Saharan African countries.

For us in the House of Representatives, our equivalent of the American Legislative Reorganization Act of 1946 which concretised the Philadelphia Convention is Section 88 of the 1999 Constitution (as amended) and Order xviii, Rule 184 of the Standing Orders of the House of Representatives. Here, oversight is embedded in the powers of the legislature.

I admit that there is some truth in the allegation that in a few isolated cases, this power of legislative oversight has been abused for selfish purposes by those who do not understand the purpose and import of the role. This isolated few do not appreciate that oversight is a sacred duty being carried on behalf of the Nigerian masses who entrusted us with such solemn responsibility.

A few days ago, I had reasons to reflect on oversight as a legislative tool. My thought also drifted to the state of Nigeria’s public institutions, not necessarily in the oil and gas sector. My reflections stemmed from a recent oversight tour of both public and private businesses in the petroleum downstream sector in the South-West geo-political zone of Nigeria. For a while, I saluted the courage and vision of men like James Madison and other founding fathers of America who thought it wise to empower Congress with the power of oversight. I really do not think I should overemphasise the privileges and opportunities American citizens and public organizations have enjoyed over the years on account of this legislative instrument.

Nigeria’s National Assembly does not have the long history or the good fortune of America’s Congress that has over two centuries of uninterrupted process. This partially accounts for the few isolated cases of abuse of power of oversight. However, I still believe our legislature need not attain that stature of America’s Congress to effectively add value to the democratic process and there is no better time than now to monitor government business and our commonwealth. As our public organizations stand today, there is really need to worry. And except we urgently address our decrepit infrastructure and man power needs with everything at our disposal, our public institutions may one day grind to a halt.

As representatives of our people, we therefore have everything to gain by routinely monitoring the executive arm for probity, fidelity and above all, efficiency without necessarily being adversarial. This is a sacred duty we owe to the ordinary Nigerian people who have vested in us their trust.

But for this recent oversight tour involving members of the House Committee on Petroleum Resources (Downstream) one would not have been able to fully appreciate the enormity of the deterioration of public infrastructure in the petroleum downstream sector.

In just four days, we visited about eleven private oil and gas facilities and over four oil and gas infrastructure belonging to and managed by government. However, the most disturbing but revealing aspect of the tour is our shared view that government is a bad businessman. My colleagues and I agreed that the more businesses are removed from the purview of government, the better for that business, the government itself and even our people.

The Committee also took note of the multifarious problems facing these public institutions. For me, the most critical is power. Almost everywhere we went, power remained recurrent because it plays a vital role in almost every business venture. Issues of obsolete equipment, poor management, inadequate staffing, funding, pipeline vandalism, transparency and environmental challenges also came up.

Again, one baffling contradiction is the unresolved issues around HHK or DPK (kerosene). I had to repeatedly ask questions bordering on the never-ending scarcity of HHK or DPK and the question of transparency and greed which in my considered opinion, is at the centre of the crisis. Like most Nigerians, I know that this product which services the mass of our people never reaches the final consumer at government approved rate. Sadly, the answers were unsatisfactory. Beyond the availability of HHK or DPK, I know that Nigeria has the capacity to swiftly transit from DPK to LPG (gas) as source of domestic fuel, which is now widely used in countries like Ghana, Cameroun and other smaller countries within our sub-region. The fact that we have not taken deliberate steps to re-orientate our people and develop gas infrastructure to support the use of gas as domestic fuel in homes is an indictment on our leadership.

Therefore If we must live by the dictum which confers responsibility on democracy as a government of the people, then everybody in the public space working for Nigeria including legislators, must have the interest of the larger percentage of Nigerians at heart. If ordinary people in these less endowed countries can access gas, then our people have every right not only to LPG, but a better life. And I think that is what government is all about.

This Seventh Assembly just turned one but one could still look back with some sense of pride. In the Lower Chamber for instance, we have had challenges but we have also taken very hard and unpopular decisions in the interest of the Nigerian people. Under the leadership of the Rt. Honourable Aminu Waziri Tambuwal and Emeka Ihedioha, we have kept faith with the people of Nigeria. But we are also aware that the room for improvement is the biggest room. Those who are impatient with the National Assembly have every right to feel so but they should also be reminded that this institution is the youngest arm of government. The National Assembly certainly may not have met the expectations of majority of our people but everybody admits we are on course. Rays of hope are evident!

This may not be the best of seasons for Nigeria but we should also remember that greatness is a process, not an event, even though I disagree with those who opine that the current challenges are necessary for our growth and development. I therefore wish to congratulate the Seventh Assembly as it turns one. But I would also want to remind the law makers of the need not to falter in their constitutional duties. Majority of our people are living below poverty line, infrastructure is virtually non-existent and economic growth is stunted. Therefore, we must be guided by this reality which is very discouraging and unacceptable.

The events following the recent tragedy that befell Nigeria’s aviation industry are all pointers to the readiness of the legislature to serve the interest of Nigerians. Aside the visit to the crash site by members of both the upper and lower Chambers, the legislature has also vowed to independently carry out its own investigation regarding the crash. At other times, we also saw a parliament that was alive to its duties and willing to initiate interventions for the common good.

We must therefore support our law makers. The law makers on the other hand must also at all times invoke every legitimate legislative instrument necessary for its work. We must learn to live by the strength of our example typified by high moral standing. Oversight for instance, remains a veritable weapon. But for this weapon to be effective, information must be at the disposal of the legislature. There must also be information about the activities of where they are over sighting so that they can feed back into better law-making. That, for me is the path to travel.

Amaopusenibo (Hon.) Dakuku Peterside, member, House of Representatives is also Chairman House Committee on Petroleum (Downstream)

Hon. Dakuku Peterside

Business

Bayelsa To Spend N1.24trn As Diri Presents 2027 Appropriation Bill …Works, Education, Sports, Others Gulp Lion’s Share

Published

3 days ago

November 6, 2026

The Tide

Bayelsa State Governor, Senator Douye Diri has presented the 2027 Appropriation Bill of the State to State House of Assembly.
Christened the ‘’Budget of Assured Prosperity for Sustainable Growth and Development”, the appropriation bill was based on a projected revenue of N1,242, 688,970,520,22.
The Governor said the 2027 proposals were derived from broad stakeholder engagements involving traditional rulers, technical experts, the organised private sector and citizens across the state, noting that it was a historic budget being the first as the state was beginning its fourth decade and presented at a time sustained investments were visible in all the local government areas.
“Our fiscal priorities remain clear: roads and bridges that connect communities, better health and education services, reliable power and an environment in which businesses and families can thrive”, he said.
Presenting the estimates, governor Diri said N840.791 billion representing approximately 68 per cent was proposed for capital expenditure while recurrent expenditure was put at N401.897 billion representing approximately 32 per cent.
He observed that the proposed budget was approximately 22 per cent larger than that of the 2026 fiscal year, which was N1.016 trillion, just as he listed some strategic projects that would continue to receive priority attention in 2027, saying they were all at advanced stages of completion.
The projects according to the governor, include the Ekeremor–Agge Road Phase I, Nembe–Brass Road Phase I, Akaba–Ayakoro Road with spur to Otuegwe 1, Glory Drive Phase 3, Agbere-Elemebiri Road, the 30,000-seater stadium at Igbogene, and the nine-storey state secretariat complex.
The governor expressed the conviction that with work progressing on the three senatorial roads, all local government headquarters would be connected to the state capital and boost socio-economic activities across the state.
“With work progressing on all senatorial causeways, we are moving closer to an ambition our people have held since the creation of the state: to connect the capital to every local government headquarters and open up access to our coastal communities. This will boost fisheries, marine and blue economy enterprises, and tourism.
“These projects demonstrate that our beautiful terrain should not limit our ambition. With resolve, sound planning and prudent management, Bayelsa is building what many once thought were impossible”, he added.
Giving a breakdown of the sectoral allocations, Works and Infrastructure got the lion’s share of N422.84 billion followed by Education ¦ 126.97 billion and Sports ¦ 68.50 billion.
Also, Health was allotted ¦ 53.32 billion, Security N24 billion, Public Utilities N22.94 billion and Agriculture got N17.74 billion.
Diri charged the Ministry of Budget and Economic Planning to enforce coordination, transparency and accountability and ensure effective implementation of the budget.
According to him, government would continue to improve its model schools, support accreditation of programmes in tertiary institutions, strengthen science and technical education and introduce digital learning tools in schools.
He added that the administration would pursue the upscaling of its 60 megawatts independent power plant to 100 megawatts and prioritise water provision in 2027.
He also remarked that the allocation to the sports sector would enable government accelerate work on the stadium project as the state prepares to host the National Sports Festival.
In his remarks, Deputy Speaker of the House of Assembly, Rt. Hon. Michael Ogbere, commended Governor Diri for the successful implementation of the 2026 budget, and appreciated him for his visionary leadership.
Hon. Ogbere described Diri as a peace maker, bridge builder and a leader who has constructed roads and bridges across 80% of all communities in the state, expressing confidence that the projects outlined were achievable.
The Deputy Speaker assured the governor of the 7th Assembly’s support and speedy passage of the budget while the Majority Leader, Rt. Hon. Monday Bubou, moved a motion for the members to pass a vote of confidence on Governor Diri and the administration, which was unanimously endorsed by the lawmakers.

Ariwera Ibibo-Howells, Yenagoa

Business

NNPC Targets Two Million Bpd Productions In 2027

Published

3 days ago

November 6, 2026

The Tide

The Nigerian National Petroleum Company Limited (NNPC) has said that ongoing reforms in Nigeria’s oil and gas sector have lifted national crude oil production by 600,000 barrels per day, from about 1.2 million barrels per day to 1.8 million barrels per day.
According to the company, the improvement has strengthened Nigeria’s position as a destination for international energy investment.
Group Chief Executive Officer ( GCEO) of NNPC Limited, Engr. Bashir Bayo Ojulari, made the remarks last week at an Energy Talk titled “Nigeria’s Reform Agenda: Competing for Energy Capital”, moderated by John Defterios, Chairman, MENA, APCO, at the 2026 Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) in Abu Dhabi, United Arab Emirates.
Ojulari linked the production growth to the implementation of the Petroleum Industry Act (PIA) 2021, an improved investment climate, better investment decisions, and stronger collaboration between NNPC Limited and its partners.
He said the current output level is a milestone in NNPC Limited’s journey towards its 2 million barrels per day target by 2027.
The Company, he explained, is focused on maintaining infrastructure, protecting base production, increasing output from existing assets, and advancing new projects designed to lift production further.
“The figure of 1.8 million barrels per day is a stage in a journey towards our objective.
We are concentrating on the basics, which are maintaining our infrastructure, protecting base operations and executing the projects that will take production higher,” Ojulari stated.
On the domestic market, the GCEO said the removal of petrol subsidy has been accompanied by an expanded Compressed Natural Gas (CNG) programme.
He noted that over 400 CNG conversion centres have been established, while more than 1,000 trucks are transporting petroleum products

Nkpemenyie Mcdominic, Lagos

Business

SEREC Demands Independent Forensic Audit Of NIMASA CVFF Funds

Published

3 days ago

November 6, 2026

The Tide

The Sea Empowerment and Research Centre (SEREC) has call for an independent forensic audit of the Nigerian Maritime Administration and Safety Agency (NIMASA), following conflicting claims over the management and currency status of the Cabotage Vessel Financing Fund (CVFF).
The centre said the controversy surrounding the fund had reinforced its earlier concerns about transparency, accountability and the possible erosion of contributions through currency conversion and administrative decisions.
In a reaction titled, “Cocks Crow at Dawn — On the CVFF Audit Crisis,” forwarded by SEREC’s representative, Eugene Nweke, the organisation said the latest revelations had vindicated its earlier calls for a comprehensive examination of NIMASA’s accounts from 2004 to date.
SEREC said former NIMASA Director-General, Temisan Omatseye, had disclosed that dollar-denominated contributions were converted into naira and invested in fixed deposits during his tenure, while the incumbent Director-General, Dr Dayo Mobereola, maintained that the fund remained in dollars with the Central Bank of Nigeria.
The organisation said the conflicting accounts raised questions about the actual value, location and management of the fund, which was to provide financing support established for indigenous shipowners under the Coastal and Inland Shipping (Cabotage) Act.
It argued that shipowners, as contributors to the fund, deserved documentary evidence showing how much had accrued, where the money was domiciled, the interest generated and the amount currently available for disbursement.
SEREC also warned that converting dollar contributions into naira exposed the fund to significant foreign exchange losses, given the depreciation of the local currency over the years.
According to the organisation, if the contributions were converted into naira and retained in that currency, the fund could have suffered a substantial erosion in its real value, undermining its original objective of strengthening indigenous shipping capacity.
It maintained that the CVFF was contributors’ money and should not be treated as government largesse, stressing that shipowners had a legitimate right to demand accountability.
The centre further criticised maritime industry stakeholders, particularly shipowners’ associations, for allegedly prioritising access to the fund over sustained demands for transparency in its management.
SEREC insisted that no disbursement should take place without a comprehensive forensic audit to establish the fund’s financial history and current position.
It said the audit should cover all contributions, currency conversions, investments, accrued interest and administrative transactions relating to the fund from 2004 to date.
The organisation said the findings would provide the necessary clarity on the financial position of the CVFF and help restore confidence among indigenous shipowners seeking access to the facility.

Nkpemenyie Mcdominic, Lagos