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NEITI Remits N30.09trn To Federation Account

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11 years ago

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The Nigeria Extractive In
dustry Transparency Initiative (NEITI) has said N30.09 trillion was remitted into the Federation Account between 2007 and 2011 from mineral and non-mineral revenues.
The NEITI Chairman, Mr Ledum Mitee, made this known at the public presentation of Independent Audit Reports of 2007 to 2011 Fiscal Allocation and Statutory Disbursement (FASD) audit in Abuja.
Mitee said the audit established that mineral and non-mineral revenues were two major revenue streams that flow into the Federation Account through the office of Account General of the Federation.
He said that mineral revenue remittances account for N23.7 trillion (less joint Venture Cash Calls and Nigerian National Petroleum Corporation subsidy claims), while non-mineral revenues stood at N4.01 trillion.
The chairman said that during the same period, the country earned N2.3 trillion from the Value Added Tax.
“From the Report, total transfer to Excess Crude Account (ECA) between 2007 and 2011 stood at N8.53 trillion with the highest transfer of N3.15 trillion was recorded in the year 2011.
“The report indicated that transfers to ECA dropped below one trillion naira in year 2009, recording only N339.54 billion in the whole year.
“The report further disclosed that N31.15 billion was reported by Federal Allocation Committee as under remittance of funds by NNPC in December 2011.
“We have confirmations that NNPC made remittances in February 2012, while the NNPC cited nationwide strike at the same time as reason for delay before the audit window closed,” he said.
He said that the fiscal allocation statutory disbursement audit also revealed that the total oil and gas revenue to the federal, state, local governments was N22.35 trillion.
Mitee said the beneficiaries of the 13 per cent derivation also shared in the sum within the period under review.
He said the breakdown showed that N9.75 trillion was disbursed in 2007, N5.42 trillion in 2008, while N4.28 trillion and N2.80 trillion were disbursed in 2009 and 2010, respectively.
The chairman said the report also showed that there was a general allocation of N7.44 billion to the nine state offices of the Niger Delta Development Company (NDDC).
The amount, he said, was shared to the commission for the completion of their projects.
“It highlighted that most of the projects were neither identifiable nor scheduled for monitoring and proper management.
“The report observed that the NDDC enabling Act is silent on the issue of how the budgets of the oil producing companies are obtained by the commission,” he said.
He said the report further showed that Petroleum Pricing Products Regulatory Agency paid the subsidy on Household Kerosene between 2007 and 2009.
He, however, noted that no such payment was made for the product in 2010 and 2011.
Mitee said subsidy was paid by Debt Management Office as a result of which the agency’s account was not funded in 2011.
“It is underestimated that NNPC deducts its subsidy payment at source from domestic crude sale,” he said
The report, he said, showed that the NDDC received N593.96 billion between 2007 and 2011 and spent N459.24 billion on recurrent and capital projects.
He said the report revealed that the share of Derivation and Ecology Fund stood at N164 billion between 2007 and 2011, while receipt from excess crude account stood at N53 billion.
He said the report disclosed that the total signature bonus collected by the Federal Government between 2007 and 2011 was N109.67 billion.

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NPA Assures On Staff Welfare 

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2 weeks ago

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June 27, 2025

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The Managing Director, Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho, has said the management will continue to accompany its port infrastructure  and equipment  modernization drive  with the development of the welfare of its personnel.
Dantsoho made the disclosure recently while responding to the commendation by the Maritime Workers Union (MWUN) and the senior Staff Association of Statutory Corporations and Government-Owned Companies (SSASGOC) on the  clearing  of the age-long problem of employee stagnation, when the union paid him a courtesy visit at the Authority’s headquarters in Lagos.
A Statement by NPA’s General Manager Corporate & Strategic Communications, Mr. Ikechukwu Onyemekara, quoted Dantsoho as saying,  “our Port infrastructure and equipment modernization drive will go hand-in-hand with continuous staff welfare improvement”.
The NPA MD disclosed that human capital development constitutes the key strategy for creating and sustaining superior performance under his watch, adding that “talent development constitutes a critical success factor for the actualization of the big hairy audacious goals we have set for ourselves especially in the area of Port competitiveness.
“The only way we can meet and indeed exceed stakeholders’ expectations is to deepen the competencies of our human resources assets and boosting their morale.”
Speaking further, Dantsoho commended the Honourable Minister of Marine & Blue Economy, Adegboyega Oyetola, for approving the strategic proposal of the Dantsoho-led Management team that solved the over a decade-long problem of lack of promotion that had fuelled industrial disharmony.
“I must specially appreciate our amiable Minister for graciously approving the multi-pronged stratagem we deployed that cleared all outstanding cases of employee stagnation by conducting examinations in one fell swoop and instituted timelines to forestall a recurrence of such anomaly”, he sad.
Speaking on behalf of the joint maritime labour unions, the President  of Senior Staff Association of Statutory Corporations & Government-Owned Companies (SSASCGOC), Comrade Bodunde stated, “In addition to clearance of the backlog of stagnated promotions, we also wish to express our appreciation for the increase in productivity bonuses, provision of end-of-year welfare packages for staff, and the revision of the Financial Guide to the Condition of Service, which now addresses our members’ concerns about inflationary pressures.”
Nkpemenyie Mcdominic, Lagos
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ANLCA Chieftain Emerges FELCBA’s VP

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2 weeks ago

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June 27, 2025

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National Secretary of the Association of Nigerian Licensed Customs Agents (ANLCA), Elder Olumide Fakanlu, has been elected Vice President of the Federation of ECOWAS Licensed Customs Brokers Association (FELCBA).
The election took place during the FELCBA Congress, held from Tuesday, June 17th to Thursday, June 19th, 2025, in Freetown, Sierra Leone.
Fakanlu’s emergence as Vice President marks a significant achievement for Nigeria within the regional customs brokerage community.
Apart from Fakanlu, Secretary of the Seme Chapter of ANLCA, Austin Nwosu, was also elected, securing the role of Secretary of Relations with Institutions.
The Nigerian delegation played an active role in the congress, with Michael Ebeatu nominated as a member of the electoral officer team, ensuring a fair and transparent election process.
The three-day congress concluded with delegates undertaking a visit to the Sierra Leone Port, offering insights into the host nation’s maritime operations, followed by a recreational trip to the Tokeh Beach.
The newly elected executives are expected to lead FELCBA in its efforts to harmonize customs brokerage practices, promote trade facilitation, and advocate for the interests of licensed customs brokers across the ECOWAS sub-region.
Nkpemenyie Mcdominic, Lagos
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NSC, Police Boost Partnership On Port Enforcement 

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2 weeks ago

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June 27, 2025

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In a bid to enhance more enforcement in the nation’s Port, the Nigerian Shippers’ Council (NSC) has reaffirmed its commitment to stronger inter-agency collaboration with the Nigeria Police Force (NPF).
The Council said the collaboration is aimed at enhancing stronger enforcement, compliance and improve operational efficiency across Nigeria’s ports.
Executive Secretary/Chief Executive Officer of  NSC, Dr. Pius Akutah, made this known during a visit to the  Inspector-General of Police, Dr. Kayode Adeolu Egbetokun, at the Force Headquarters, Abuja.
The visit, which he said, focused on strengthening institutional synergy, comes in the wake of growing responsibilities for the NSC under the newly created Ministry of Marine and Blue Economy.
Akutah emphasized the critical role of security agencies in supporting port operations and ensuring regulatory compliance.
He called for the posting of police officers to assist the Council’s monitoring and enforcement teams at key port locations including Lagos, Warri, Onne, Port Harcourt, and Calabar.
“The posting will complement the activities of our revived task teams and enhance our ability to enforce standards across the maritime logistics chain”, he said.
Earlier, the Inspector-General of Police, Dr. Egbetokun, assured the Council of the Force’s readiness to continue supporting the growth of the maritime sector.
The IGP acknowledged that compliance enforcement is essential to the successful implementation of Nigeria’s Blue Economy objectives.
“The NSC and NPF are expected to deepen collaboration in the months ahead, with a shared focus on building a secure, efficient, and competitive port environment”, to the IGP emphasized.
Chinedu Wosu
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