Connect with us

Business

‘NDDC Debt Profile Was Our Biggest Challenge’

Published

on

The acting Managing Director, Niger Delta Development Commission (NDDC), Mrs Ibim Semenitari has said that the biggest challenge she had upon assumption of office “was the fact that we are owing so many people”.
Semenitari, who made this known in Abuja when she featured on News Agency of Nigeria (NAN) Forum, said the commission was owing more than 8,600 contractors between N400 billion and N450 billion.
She said that the paucity of funds coupled with the public perception of the commission became sources of concern for the management of NDDC.
She, however, said that the commission had to deal with both challenges and reinvigorate the workforce to be able to get to its present state.
“The biggest challenge we had upon assumption of office for me was the fact that we are owing so many people.
“We were owing more than 8,600 contractors and we are owing between N400 billion and N450 billion.
“That’s a lot of money; so the first challenge was you have so many contracts and you have so much debt – so there was a big hole right there.
“The second was the perception problem. The commission was perceived rightly or wrongly as a place you just come, take your own share and go; it was also perceived to be a corrupt place.
“And we also had to deal with the need to professionalise the workforce basically in terms of how you reposition the people.
“And also reinvigorate the workforce so that people will have a sense of freshness and a sense of new challenges because we can get people back on track.”
According to Semenitari, better days will come for the commission by the time its funding partners pay up the amount they are owing.
She said that with payment of the outstanding monies, the projects the commission was handling would become visible.
She added that the late passage of the budget of the commission had hampered proper planning and proper management of the commission.
“By law, we are funded with three per cent from oil companies; we are funded from the ecological fund and then we are also funded from the amount of money accruable to the state.
“We had a situation where we were being owed by all of our funding partners.
“The Federal Government, who is our owner, was owing us about N800 billion.
“Whereas the law provides for specific kinds of funding for the commission, unfortunately the commission had not been receiving its own funds as at when due; so this was one of the challenges that I had to deal with.
“And then of course perhaps the last and the critical one is the fact of late budgets. The NDDC budget is always late and that doesn’t help for planning.

“It comes so late in the year, indeed I hear sometimes as late as October, by which time the year is ending.
“And that’s because the NDDC budget by the budget practice doesn’t go along with all the other budgets.
“For that reason the budget process of the NDDC begins after and so terminates ridiculously late in the year, by which time of course by planning and everything make it almost ridiculous and impossible for the management to function within the appropriation act.”
She, however, called for speedy release of the commission’s budget to ensure smooth operation of the commission within a given financial year.

Continue Reading

Business

NPA Targets N1.489tn Revenue In 2026

Published

on

The Management  of Nigerian Ports Authority (NPA) has set N1.489 trillion as its Internally Generated Revenue (IGR) target for the 2026 fiscal year.
NPA says the figure represents an increase of N21 billion over the N1.468 trillion target for 2025, which the agency exceeded with an actual revenue of N1.97 trillion.
 The Managing Director NPA, Dr Abubakar Dantsoho, stated this  during the agency’s 2026 budget defence before the Senate Committee on Marine Transport.
Dantsoho said  the authority was set to begin groundbreaking projects for the modernisation of Apapa and Tin Can Island ports to enhance global competitiveness.
According to him, of the projected revenue: N945 billion is allocated for capital projects, N447.5 billion for operating expenses, and
N90.6 billion for remittance into the Consolidated Revenue Fund (CRF).
The MD explained that the budget was anchored on the mantra, “Consolidation, Renewed Resilience and Shared Prosperity.”
Dantsoho said that the modernisation of Apapa and Tin Can Island ports were flagship projects aimed at boosting revenue.
“Apapa and Tin Can Island ports are old and no longer adequate for modern global port operations.
“Apapa Port is about 100 years old, while Tin Can Island Port is over 50 years old, with limited capacity for handling modern vessels and cargo volumes.
“Groundbreaking for their modernisation will commence within the next two to three weeks,” he added.
On the Treasury Single Account (TSA), Dantsoho said all revenues generated by the NPA are paid directly into the account managed by the Central Bank of Nigeria (CBN).
“We do not retain any funds. The Central Bank is the signatory and we must apply for funds whenever needed,” he explained.
Earlier in his remarks,Chairman of the Senate Committee on Ports, Sen. Wasiu Eshinlokun (Lagos Central), said the committee’s oversight function was collaborative rather than adversarial.
“Our goal is to work with you to strengthen institutional capacity, eliminate inefficiencies and ensure that every naira appropriated serves the public interest,” he said.
Chinedu Wosu
Continue Reading

Business

NPF Disburses ?21.68m  To Fallen Heros’ Families …Reinforce Welfare Commitment 

Published

on

Nigeria Police Force has disbursed a total of ?21,678,120 to the deceased police officers families in Rivers State as part of ongoing welfare interventions by the force.
The gesture formed a major highlight of the activities marking  the 2026 National Police Day celebration in the state, underscoring renewed institutional focus on personnel welfare and post-service support systems.
The Commissioner of Police, Olugbenga Adepoju, who presided over the cheque presentation ceremony, said the initiative reflects the Force’s commitment to honouring officers who paid the ultimate price in their line of duty.
He explained that the financial support is designed to cushion the economic burden faced by bereaved families, while also reinforcing confidence among serving personnel about the Force’s long-term welfare structure.
Adepoju conveyed the sympathy of the leadership of the Nigeria Police Force to the beneficiaries, noting that the sacrifices of fallen officers remain invaluable to national security and public safety.
The police boss further stressed that sustained welfare interventions are critical to boosting morale, enhancing productivity, and strengthening institutional loyalty within the Force.
He reiterated that the welfare scheme aligns with broader reforms aimed at repositioning the Nigeria Police Force as a responsive and people-oriented institution.
Beneficiaries of the cheques commended the Inspector-General of Police, Olatunji Rilwan Disu, for prioritising the welfare of officers and their families through consistent and impactful interventions.
They described the initiative as timely and compassionate, noting that it would go a long way in alleviating financial pressures arising from the loss of their loved ones.
The families also acknowledged ongoing reforms under the current police leadership, which they said have strengthened trust, improved service delivery, and enhanced the overall image of the Force.
The Rivers State Police Command reaffirmed its commitment to sustaining similar initiatives as part of efforts to uphold the dignity, sacrifice, and legacy of officers who served the nation with distinction.
King Onunwor
Continue Reading

Business

IGR Firm Applauds Akpe’s Appointment As New D’Gov 

Published

on

The management of Super AllGreen Ltd, ‘the Bayelsa State Government’s revenue driving firm’,  has lauded the Governor, Senator Douye Diri on the recent appointment of his Chief of Staff and former Assembly member, Dr Peter Akpe as the new Deputy Governor of the State.
The Managing Director and Chief Executive Officer of the firm, Hon. Beleuibimo Ikio Sunday made this known while speaking with newsmen after a tour of projects recently executed by the firm at his office in the Swali-ultramodern market recently in Yenagoa, the State capital.
The CEO described the appointment of Dr Akpe as one of the best decisions of the governor lately.
The manager  who collects revenue on tollgate, parking space, barrow pushers and hawkers at the Swali ultramodern market for the State Government, said he was so excited on the appointment of the new number two man of the state.
He emphasised the new deputy governor is a plus for the ASSURED Prosperity mantra of the governor Diri led administration.
The revenue collector posited that having been a member of the state House of Assembly, Commissioner,  Retired Civil Servant, Deputy Chief of Staff and later Chief of Staff to the Governor, Akpe has the capacity and requisite experience to execute the onerous functions of his new office.
”Akpe isn’t just the best to fill the vacant position of Deputy Governor of the state, but one of most cool headed leaders of the state I’ve seen. Infact, he is what could be described as square peg in a square hole.
“He has both the administrative and political capabilities needed for the office of the deputy governor.
“He is God fearing, he has indebth experience and knowledge to carry out the tasks of the office of the deputy governor. He is not just a politician, but one with a difference. He is a regional Pastor with the Redeemed Christian Church of God.
“We will continue to pray for him and the Governor to succeed even in the future. Dr Peter Akpe is a good hearted individual, and I know  he is a big plus to the ASSURED Prosperity administration of the Governor”, the firm management said.
Ariwera Ibibo-Howells, Yenagoa
Continue Reading

Trending