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FG Spends N5trn On Fuel Subsidy …As Senate Suspends Security Summit To Honour Late Ekwueme
The Nigerian National Petroleum Corporation (NNPC) has told the Senate Committee on Petroleum Resources (Downstream) investigating subsidy payment that the Federal Government spent N4.950.80 trillion in the exercise.
This is coming at a time President of the Senate, Bukola Saraki, has declared that NNPC stinks, vowing that those behind fraud in the corporation will be exposed.
Speaking at the hearing on subsidy payment, Group Managing Director of the NNPC, Dr. Maikanti Baru said out of the N5.121.40 trillion approved subsidy, the Federal Government has spent N4.950.80 trillion, with N170.6 billion outstanding arrears for January 2006-December 2015.
He said the figure was arrived at after deduction of N4.950.80 trillion received as payments from the N5.121.40 trillion approved subsidy claims of the corporation from January 2006 to December 2015.
Giving details of the accruals, Chief Financial Officer of the Corporation, Mr. Isiaka AbdulRazaq, traced the advent of the subsidy regime to October 2003, when NNPC was directed by government to commence the purchase of domestic crude oil at international market price without a corresponding liberalisation of the regulated price of petroleum products.
He explained that under the subsidy regime, NNPC and other suppliers of refined petroleum products were entitled to full subsidy claims to the Petroleum Products Pricing Regulatory Agency (PPPRA).
AbdulRasaq, however, noted that unlike other oil marketers, NNPC did not receive cash payment for subsidy claims as its subsidy claims were deducted out of cost payment to the Federation Account after due certification by PPPRA.
‘’In summary, NNPC submits that the amount of over N5.1 Trillion was duly approved by PPPRA as subsidy claims for NNPC. Out of this sum NNPC is still being owed N170.6 Billion,’’ the NNPC CFO said.
The Corporation called on the Senate Downstream Committee to assist in ensuring that the outstanding debt was settled to enable it effectively achieve its obligation as the supplier of last resort to the downstream sector.
Chairman of the Senate Committee, Senator Kabiru Marafa, commended NNPC for the elaborate presentation while pledging its support to all stakeholders in the sector to ensure uninterrupted supply and distribution of petroleum products
Meanwhile, Senate President, Saraki has revealed that the NNPC has remained a cistern of deep rooted corruption, illegality and abuse of financial procedures, despite frantic efforts to reform it.
Speaking at the commencement of the public hearing , Saraki said huge sum was spent on payment of fuel subsidy.
The Senate president, who was represented at the event by the Senate Leader, Ahmad Lawan, expressed displeasure over what he described as secret and opaque re-introduction of subsidy in the pricing of Premium Motor Spirit (PMS), popularly known as petrol, without an approval of a budget by the National Assembly.
He regretted that “government has not done what we need to do to nip this problem in the bud.”
Finance Minister, Mrs. Kemi Adeosun; Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele and Comptroller General of the Nigerian Customs Services, Colonel Hammed Ali, failed the appear before the committee yesyterday.
According to the Senate President, ”findings have brought to light the fact that our downstream oil and gas industry needs critical reforms.”
He further stated that it has be exposed in “spite of the stoppage of the fuel subsidy regime, and the non-appropriation of funds for the scheme due to the fraud and mal-administration going on in the scheme, that fuel subsidy payments continue to be paid from our commonwealth illegally and without appropriation by the National Assembly to a few quietly in order to dodge scrutiny and avoid exposure.”
Meanwhile, the National Summit on Security being organised by the Senate has been postponed in honour of the late former Vice President, Alex Ekwueme who will be buried on Saturday.
The summit, scheduled to hold on February 1 and 5 at the Banquet Hall of the State House was to be declared open by President Muhammadu Buhari. A statement by the chairman of the Chairman, Senate ad-hoc committee on review of security infrastructure who is also the Majority Leader, Sen. Ahmed Lawan, stated that the postponement was to honour the late former Vice President, and to also enable Federal legislators, particularly those from the South-East, participate fully in the burial programme of the late elder statement.
Lawan said a new date for the summit would be announced in due course, and extend the committee’s apology to the invited dignitaries. The summit was organised to provide an all inclusive platform for heads of security and defence agencies, Governors, traditional rulers, socio-cultural groups, civil society organizations and others, with a view to finding solutions to acute and long term security challenges in the country. Though the now postponed summit was an initiative of the Senate as part of its contribution to the resolution of the rising security challenges, it is being convened in partnership with the Presidency to find a common solution to the issue.
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WASSCE: RSG Distributes Science Materials To Secondary Schools
The Rivers State Government has distributed science equipment and materials to all senior secondary schools across the state to support students during the ongoing West African Examinations Council exams and to strengthen practical learning.
Flagging off the distribution at the Rivers State Senior Secondary Schools Board premises in Port Harcourt, on Monday, the State Commissioner for Education, Dr. Peters Nwagor, said the move demonstrates Governor Siminalayi Fubara’s commitment to improving education standards in the State.
Nwagor said the materials were approved and provided by the state government specifically to boost the teaching and learning of science subjects, describing science education as the foundation for technological advancement, innovation, and national development.
“No society can compete globally without deliberate investment in science and technology,” the Commissioner stated.
He commended the governor for consistently prioritising the education sector by providing tools needed for effective teaching and hands-on learning.
The Commissioner directed principals to ensure that the equipment are used strictly for practical lessons in their schools, warning that any principal or administrator found diverting, hoarding, or selling the materials wil face disciplinary action under public service regulations.
Nwagor also warned against examination malpractice, saying any principal found aiding or encouraging malpractices will be decisively sanctioned.
“We must collectively restore the dignity and credibility of our educational system,” he said.
Also speaking, Chairman, Rivers State Senior Secondary Schools Board, Tony Egwurugwu, urged school heads to make judicious use of the materials for students’ benefit.
He thanked the State Government for providing the resources, and assured that monitoring mechanisms would be put in place to ensure the materials serve their intended purpose.
In his own remarks, a Board Member for Technical Education, Nwisabari Bani Samuel, expressed appreciation to the governor for prioritising education and acknowledged the Commissioner’s role in advancing education development in the State.
He said the distribution covers all senior secondary schools in the State and is intended to improve students’ performance in both internal and external science examinations.
Akujobi Amadi
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Fubara Hails Workers’ Resilience, Dedication In Rivers …Hails Tinubu’s Economic Reform
Rivers State Governor, Sir Siminalayi Fubara, has commended workers in the State for their resilience, dedication, and invaluable contributions to development in the State.
Fubara gave the commendation during the 2026 Workers’ Day celebration at Isaac Boro Park in Port Harcourt, last Friday.
Represented by his deputy, Prof. Ngozi Nma Odu, the governor noted that Workers’ Day, which originated from the struggle for an eight-hour workday in the United States, has evolved into a global event recognising the contributions of workers to national growth and development.
He described workers as the backbone of sustainable development, saying no society can thrive without their efforts.
Fubara commended Rivers workers for their loyalty and commitment to service, noting that workers play vital roles across key sectors, including education, healthcare, infrastructure and industry.
He noted that their contributions have enhanced access to quality education and healthcare, supported job creation, and stimulated economic activities across the State.
While acknowledging the economic challenges faced by many workers, including the rising cost of living, Fubara assured that the the State Government remains committed to implementing policies that will enhance workers’ welfare and overall well-being.
The governor also hailed the bold and daring economic reforms of President Bola Tinubu which, he said, have stabilized the economy, enhanced foreign exchange liquidity, lowered inflation, and achieved significant growth in the nation’s gross domestic product.
He noted that, in addition to raising the minimum wage, the President recently approved new welfare incentives for federal civil servants.
“Our economy is on an unstoppable positive path under our President, and it can only improve further for the nation and everyone. Let us continue supporting the policies and programmes of Mr President,” he said.
Fubara highlighted the importance of workers in revenue generation and governance, noting that taxes paid by workers enable government to provide security and essential social services.
He reaffirmed the State Government’s recognition of labour as a critical partner in achieving its development blueprint, appreciating workers’ daily contributions to building a peaceful, secure, and prosperous Rivers State.
The governor urged the organised labour to use the occasion to reaffirm its commitment to the progress of the State, while continuing to advocate for democracy, social justice, and improved welfare for workers.
He also expressed gratitude to workers for their service to the State and the nation, encouraging them to remain steadfast in their contributions to development.
In his address, the State Chairman of the Nigeria Labour Congress, Comrade Alex Agwanwor, commended Fubara for his steadfastness, genuine commitment, and passion for workers in the State.
He highlighted key achievements of the administration, including the implementation of the National Minimum Wage Act, the renovation of the State Secretariat, the reopening of the Rivers State Transport Company (RTC), and the consistent payment of end-of-year bonuses to public workers.
Comrade Agwanwor noted that workers, as drivers of productivity, understand the challenges involved in building a prosperous Rivers State, stressing that they are well-equipped to contribute meaningfully to the growth and development of the State.
“We have resolved not to continue complaining and lamenting while challenges persist. Instead, we must take the initiative, step out of relative obscurity, and rediscover the mission and destiny of our dear state,” he said.
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Fubara Pledges Support For Corporate Organisations In Rivers …Says PPP Business Model Responsible For NLNG’s Success
Rivers State Governor, Sir Siminalayi Fubara, has pledged the continued support of his administration for the Nigeria Liquified Natural Gas (NLNG) Limited.
Fubara gave the assurance while receiving the new Managing Director and Chief Executive Officer of the NLNG, Mr Adeleye Falade, who paid him a courtesy visit at Government House, Port Harcourt.
He assured that his administration would continue to contribute its own quota in support of the NLNG.
According to him, the success of the organisation is equally the success of the government of Rivers State and the success of the Federal Government.
“Our duty is to make sure that we support whoever is operating in our state. We are the ones here. If we don’t support you and you don’t succeed, we also will not succeed and Mr President will also not succeed.
“So, the success of your establishment is the success of our state, and overall success of Nigeria. So you can count on our support. Wherever you think we need to come in to support you, please do not hesitate to call upon us.
“You just mentioned here that your predecessor left a handover note showcasing the level of support that he got from the state. It is not going to be different in your own case. I can assure you that. I will also ensure that other units of the government will liaise with you when necessary. So even if you can’t get to me, you can always get to them and if there is anything we can do to help your establishment succeed, we will do it for you,” he said.
The governor attributed the success of the NLNG to the Public Private Partnership ( PPP) business model adopted by the Federal Government and the multinational oil companies.
The NLNG is jointly owned by Nigerian National Petroleum Corporation (NNPC) with 49%, Shell Gas B.V. with 25.6%, Total LNG Nigeria Ltd with 15%, and Eni International with 10.4%.
The partnership model allows for shared risks, costs, and expertise in the LNG sector.
The governor noted that the NLNG has not only survived the difficult business environment but has made sustained progress in the nearly three decades of its existence.
According to him, the decision of the Federal Government to allow the multinational oil companies who have the needed expertise to run the establishment while government plays a supervisory role over it has largely been responsible for its success.
“I’m very proud to say that if there is one establishment that has shown resilience, that has survived in the face of all the political issues prevalent in this country, it is the NLNG. And what is the reason? The reason is very simple. Government has no business in business. That is the truth. Leave the business for those people who can operate it. Let the government play its supervisory role to ensure that there is compliance with the laws; ensure that standards are maintained and also ensure that the right people with the needed expertise are at the helm of affairs. That’s all. I think that is the reason why we still record a lot of successes in NLNG,” he said.
In his opening remark, the new NLNG boss, Mr Adeleye Falade, who led other top officials of the company on the visit, expressed appreciation to the governor for granting them audience, and appealed to the State Government to continue to support the organisation.
“We appreciate the opportunity to meet with you and deepen this important relationship.We deeply value the support the Rivers State Government continues to extend in fostering an enabling operating environment for businesses. NLNG remains deliberate in its contribution to Nigeria’s development, and Rivers State, our primary host, continues to be central to that commitment,” he said.
Falade said the company has continued to work with its host communities to strengthen their capacity to identify, prioritise, and deliver sustainable development initiatives that create lasting impact.
According to him, communities including Amadi-ama, Abua, Ekpeye, Okrika, Kalabari, and Emohua have continued to benefit from this model.
He said that beyond community infrastructure, the NLNG has sustained investments in economic empowerment through initiatives such as Vocational Innovation and Business Empowerment Scheme (VIBES) and Micro Small and Medium Enterprise (MSME) schemes.
These, he said, were designed to support small businesses, build capacity, and stimulate local enterprise across the state.
Among officials of the company who accompanied the Managing Director were General Manager, External Relations and Sustainable Development, Dr Sophia Horsfall; Manager, Government Relations, Mr Abdul Umar; Manager, Community Relations, Dr. Yemi Adeyemi; Head of Government Relations, Mr Mike Igoni; Head of Community Liaison and Engagement, Chief Ifeanyi Umeh.
Others are Technical Assistant to Executive Leadership, Mr Hassan Saleh; Senior Media and Publicity Advisor, Mr Emma Nwatu; Government Relations Advisor, Miss Homa Nmegbu; Senior Government Relations Advisor, Mrs Kate Allison, and Audio -Visual Advisor, Mr Dawood Ahmed.
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