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NEC Meets, Demands Excess Crude Account Details
Six months after the last one was held, a meeting of the National Economic Council consisting of the 36 state governors and some ministers was held yesterday at the Presidential Villa, Abuja.
Surprisingly however, no mention was made of the money due to the Federation Account which the Nigerian National Petroleum Corporation allegedly failed to account for during the meeting presided over by Vice President Namadi Sambo.
The missing fund has remained one of the reasons why the meeting which holds monthly had not been convened for the past six months because of the report that members of the Governor Rotimi Amaechi-led faction of the Nigeria Governors Forum were planning to confront Sambo on the matter and other economic issues.
A source at the meeting told our correspondent that the issue of the missing fund was not included on the meeting’s agenda.
“That item was not on the agenda and nobody raised the issue when the agenda was read for amendment in case members have additions to make. You also know that the acting CBN governor was not at the meeting because they are all appearing before the Financial Reporting Council of Nigeria. Minister of Finance briefed the meeting but no mention was made of the missing fund,” the source said.
Briefing State House correspondents of the meeting’s outcome, Governor Godswill Akpabio, quoted the National Security Adviser, Col. Sambo Dasuki (retd.), as saying that 17 states have been identified as flashpoint of current clashes between herdsmen and farmers which have left many people dead.
Akpabio further quoted the NSA as saying that his office was working round the clock to stem the tide of the violence.
He said, “Council also discussed the issues pertaining to the current conflicts between the farmers and the pastoralists across the entire country. We received presentations from the NSA on the incessant conflicts being experienced across Nigeria, especially the one of sacking so many villages by criminals in Benue State and other adjoining states in the North.
“According to the NSA presentation, 17 states have been identified as flash points. Of course such states include Benue, Plateau, Adamawa, Bauchi, Niger, Nasarawa, Kwara, Kaduna and Oyo. We also reported issues bordering on the conflicts in southern parts of the country like Edo, Akwa Ibom, and Cross Rivers, particularly in the Ogoja area.
“The NSA reported to Council the efforts being made by his office to involve international agencies on the issues, one of which is that it will invite all stakeholders to an international conference to deliberate, adding that the agency based in Geneva, Switzerland is working out the modalities to involve communities in the affected states to find means of settling the conflicts in Plateau and that will now be used as a pilot programme across the entire country.”
He said the council also resolved that Governor Gabriel Suswan of Benue State should join Governor Murtala Nyako of Adamawa State as co-chair of a committee on grazing reserves earlier set up.
The governor added that the council further resolved that a technical committee be set up to come up with recommendations that can resolve the conflict between the farmers and the pastoralists.
The committee, he said, was directed to meet with all stakeholders within two weeks.
However, the National Economic Council (NEC) in Abuja yesterday requested the Federal Government to give the details of the spending on Excess Crude Account (ECA) to the states.
Akwa Ibom State Governor, Godswill Akpabio made this known after the NEC meeting presided over by the Vice President Namadi Sambo at the State House.
NEC is the highest economic decision making body statutorily presided over by the vice president with all state governors, FCT Minister, Attorney-General of the Federation and some ministers as members.
Akpabio said the Minister of Finance, Dr Ngozi Okonjo-Iweala, told council that the fund in the ECA had risen to about $3.5 billion after payments of fuel subsidy and SURE-P.
“The NEC meeting holds today, the first in 2014. During the meeting the Minister of Finance, our lady Okonjo-Iweala reported to council the progress in the ECA.
“She informed council that as at today, the ECA has risen to about $3.5 billion after payment for fuel subsidy and SURE-P.
“The council deliberated on it and resolved that there was need for expeditious action to be taken to resolve all the legalities surrounding the issues of ECA, particularly the issue of expedition action on the cases pending in court.
“It was also further suggested that at least two separate accounts should be maintained, one for excess crude and the other for SURE-P,’’ he said.
The ECA is an account maintained by the Federal Government to save oil revenues above a base amount derived from a defined benchmark price.
The ECA was established in 2004 and its objective is primarily to protect planned budgets against shortfalls due to volatile crude oil prices.
It will be recalled that in 2010, the NEC approved the plan to replace the ECA with a National Sovereign Wealth Fund.
Following controversies over the sharing formula and spending procedure of the ECA, the 36 state governors under the aegis of the Nigeria Governors Forum, had dragged the Federal Government to the Supreme Court.
Specifically, the governors are seeking the judicial interpretation of the management of the ECA.
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Fubara Seeks Full Resolution Of Bille Gas Leakage …Pledges Upgrade Of Community Health Centre
Rivers State Governor, Sir Siminalayi Fubara, has demanded quick and full resolution to the challenges arising from the gas leakage that occurred in Bille, Degema Local Government Area of the State.
The governor has also pledged to upgrade the Primary Healthcare Centre (PHC) in Bille with a view to addressing the health challenges confronting the community.
Fubara made the pledge on Wednesday at the Government House, Port Harcourt during an enlarged meeting of key stakeholders, comprising representatives of the Federal Government, the state government and leaders of the community.
The meeting was held to review the situation in the community and explore available opportunities to save the people from the adverse impacts of environmental pollution.
Addressing the journalists at the end of the meeting, the governor acknowledged the determination of the Federal Government and its agencies to get to the root cause of the problem in Bille and ensure that it is resolved permanently.
“The meeting is in respect of the situation in Bille. You’re aware that there is a case of gas leakage somewhere in Bille and the people have been making some requests that the government should come to their rescue to resolve the situation.
“As a state, we have gone to see the situation in the community, not alone but in conjunction with the industry operators and officials of the Federal Ministry of Petroleum Resources. What we are doing today is an enlarged meeting where all the parties are sitting together to look at the cause of the issue and the most possible way to get the problem resolved,” he said.
Fubara described the outcome of the meeting as successful, stressing that more action would be taken in the next couple of weeks to ensure that the issue is fully resolved.
The Minister of State, Petroleum Resources (Gas), Hon Ekperikpe Ekpo, who led the Federal Government’s delegation to the meeting, expressed appreciation to the governor for his warm hospitality and efforts to address the challenge in Bille community.
Ekpo explained that contrary to the perception in certain quarters, the Federal Government has not been silent over the “gas seepage” but has been working tirelessly towards finding a sustainable solution.
The minister explained that as soon as the incident was reported, the Federal Government deployed experts to the area to understudy the cause of the problem.
According to him, it was difficult at first to understand the cause of the problem since there were no oil or gas infrastructure within the vicinity of the incident, hence the need to conduct a more detailed investigation.
“The investigation is still going but we decided to do a follow-up visit to the area to talk to the people of Bille Community that we need collaboration on their part so that we would be able to arrive at a lasting solution.
“The safety of the people is paramount. We can understand their anxiety, the worry and the danger that this thing poses within the area, but the Federal Government is committed to finding a lasting solution to the problem. The primary responsibility of government is to take care of the welfare and security of the people and that is exactly why we are here to go and see things for ourselves,” he said.
The Chief Executive Officer (CEO), Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mrs Oritsemeyiwa Eyesan, also explained that as the regulatory agency at the centre of the issue, no effort will be spared in the task of resolving the issue.
Eyesan pledged that the NUPRC and operators in the industry were prepared to address the requests of the impacted people in terms of the provision of potable water and fire trucks to the community.
The Public Relations Officer, Council of Chiefs, Bille Kingdom, Chief Rena Dappa, had during the meeting, presented the challenges facing the community and pleaded for government’s support to save the lives and livelihoods of the people.
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Tinubu Unveils Training Programme For 5,000 Metre Installers
President Bola Tinubu has announced the launch of a training programme for 5,000 young Nigerians as meter installers and technicians under the Presidential Metering Initiative.
The President stated that the scheme is aimed at creating jobs, closing the country’s metering gap and improving electricity supply.
The President disclosed this in a statement on his verified X handle yesterday, describing the initiative, tagged “The Power Force,” as part of his administration’s Renewed Hope Agenda to expand employment opportunities for young people.
According to Tinubu, the programme will equip participants with practical technical skills and connect them to employment opportunities in Nigeria’s power sector.
“Through the Presidential Metering Initiative (PMI), which I established to close Nigeria’s metering gap, end estimated billing, protect consumers and strengthen the electricity market, we are opening a new pathway for 5,000 young Nigerians to be trained as meter installers and technicians under The Power Force. This programme is about jobs, skills and dignity,” he said.
Tinubu said the training would be open to eligible Nigerians who have completed their secondary school education, with a dedicated quota reserved for members of the National Youth Service Corps.
He noted that expanding electricity metering was critical to improving service delivery and promoting transparency in the power sector.
“When homes and businesses are properly metered, Nigerians can pay for what they actually use. When electricity distribution companies collect revenues more transparently and fairly, they are better able to reduce losses, maintain infrastructure, expand connections and invest in better service.
“This is how we build a power sector that is fairer to consumers, stronger for investors and better able to deliver reliable electricity to the Nigerian people,” the President said.
Tinubu said he had directed the Presidential Metering Initiative to work with the Federal Ministry of Youth Development, the National Power Training Institute of Nigeria, and other relevant stakeholders to commence the programme within the next 30 days.
He encouraged qualified young Nigerians to apply, saying the initiative would provide them with marketable skills while supporting efforts to eliminate estimated billing and improve electricity access nationwide.
“I encourage eligible young Nigerians to apply. Join The Power Force. Learn a skill. Earn with dignity. Help us end estimated billing and be part of the work to light up Nigeria,” he added.
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Xenophobia: Third Evacuation Flight From S’Africa Arrives Today -FG
The Federal Government has announced that the third evacuation flight for Nigerians voluntarily returning from South Africa will arrive Lagos today having departed Johannesburg at midnight yesterday with 271 returnees on board.
The Ministry of Foreign Affairs disclosed this in a statement issued yesterday by its spokesperson, Mr Kimiebi Imomotimi Ebienfa.
According to the ministry, the Air Peace-operated flight is expected to arrive at the Murtala Muhammed International Airport, Lagos, at about 5:30 a.m. on Friday, July 3, 2026.
It said the evacuation is part of the Federal Government’s ongoing efforts to facilitate the voluntary return of Nigerians from South Africa.
“The third evacuation flight operated by Air Peace will depart Johannesburg today by 12 midnight with 271 returnees. The estimated time of arrival in Lagos is 5:30 a.m. on Friday, July 3, 2026,” the statement read.
The latest batch of returnees follows earlier evacuation flights that brought hundreds of Nigerians back to the country under the Federal Government’s voluntary repatriation programme.
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