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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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We’ll Be Intentional In Our Support To Improve NYSC Scheme -Fubara
Rivers State, Sir Siminalayi Fubara, has assured members of the National Youth Service Corps (NYSC) of his administration’s commitment to supporting and strengthening the scheme in the State.
Fubara gave the assurance last Friday at the NYSC permanent orientation camp, Nonwa-Gbam, Tai Local Government Area in the State, during the swearing-in ceremony of 2026 Batch B Stream II orientation course.
Represented by the Permanent Secretary, Cabinet Bureau, Office of the Secretary to the State Government, Dr. Promise Oguzie, the governor said the State Government would remain intentional in providing the necessary support to improve the NYSC scheme and enhance the experiences of corps members deployed to the state.
He charged the corps members to be role models and quality nation-builders in their service to the good people of Rivers State in particular, and Nigeria at large.
“I charge you to be exemplary, dedicated and committed in all you do. Take full advantage of all the camp programmes and activities to enrich yourselves”, he said.
In his welcome address, the State Coordinator of NYSC in Rivers State, Mr. Moses Oleghe, urged corps members to see their deployment to Rivers State as a “veritable opportunity to make meaningful contribution to the growth of the State in particular and Nigeria at large.”
He further charged them to serve with all sense of “integrity, discipline, and the fear of God, especially when they will be engaged as INEC ad-hoc staff that will conduct the 2027 general elections.”
A total of 3,584 corps members composed of 1,421 males and 2,163 females were sworn in by the Chief Judge of Rivers State, who was represented by Justice Godspower Aguma.
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Fubara: Nigeria Needs God-fearing Leaders To Make Progress …Applauds Seventh Day Adventist
Governor of Rivers State, Sir Siminalayi Fubara, says Nigeria needs God-fearing leaders for the nation to move in the right direction and make meaningful progress.
The Governor stated this yesterday when he received in audience, the World President of the Seventh Day Adventist Church, Pastor Erton Kohler; his wife, Andriene Marques Kohler; daughter Mariana Marques Kohler and a retinue of ministers of the church at Government House, Port Harcourt.
Fubara who hailed the Seventh Day Adventist Church for its contributions to education and the grooming of future leaders in Nigeria, expressed delight that the Church had over the years, been investing in education at various levels and currently runs two universities in the country.
He commended the church for not only using its institutions to spread the gospel of Christianity but to groom future leaders for the country.
According to him, religion should not be just about defending one’s faith, but also making meaningful impact on the lives of the people.
He said that by floating these educational institutions, the church has demonstrated capacity to support Nigeria in the task of producing not only educated people but a breed of God-fearing leaders.
“Our country is where it is today because we lack the fear of God. If you have the fear of God, there should be a limit to what you can do because you understand the supremacy of God. But when God is not in your equation, you’ll go beyond the line and that is what has brought us to where we are today.
“So, I feel very happy that you are contributing to the development of our future leaders in this country. We need the right people being in the right place; prepared properly with good minds; that is what we need, not just in Nigeria but round the whole world.,” he said.
Governor Fubara further observed that the absence of God-fearing people in high places to take the right decisions that could impact positively on the society, has also given rise to other problems such as social inequality, poverty, corruption and criminality. According to him, Nigeria needs a system where the average parent could afford quality education for their children and a guarantee that upon graduation, the average child will have the capacity to compete favourably with anybody, anywhere in the world.
“If we have a situation where the little money that you’re being paid as wage can also afford you quality healthcare and after working at least for 15-20 years, you have a roof over your head, tell me why you should be involved in any kind of crime? At that point, you’ll feel secured and this attitude of insecurity about the future that leads to all the social vices we have today won’t be there,” he said.
Governor Fubara expressed appreciation to the delegation for the visit and for their prayers for Rivers State, assuring them of his continued support for their programmes in the state.
Leader of the delegation and World President of the Seventh Day Adventist Church, Pastor Erton Kohler said he was in Nigeria for a special conference of the church during which thousands of the church’s ministers will be undergoing an empowerment programme to further equip them for the task of herding their flocks and serving the society.
He expressed gratitude to the Governor for the warm reception accorded his entourage, saying the memory of the visit will linger in his mind for a lifetime.
Kohler disclosed that the Church has over twenty -four million (24,000,000) members and more than 182,000 places of worship, spread across 212 countries of the world.
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Rivers Assembly Approves Fubara’s 2026–2028 MTEF
The Rivers State House of Assembly has approved the 2026–2028 Medium Term Expenditure Framework (MTEF) submitted by Governor Siminalayi Fubara.
This reaffirms the lawmakers’ commitment to enacting laws and taking legislative actions geared towards the overall development of the State.
The Assembly gave the approval during its Second Legislative Sitting of the Fourth Session held last Friday.
Speaking on the MTEF document during plenary, the House Speaker, Rt. Hon. Martin Amaewhule, noted that by the provision of Section 10(1)(b) of the Rivers State Fiscal Responsibility Law No. 8 of 2010, the MTEF ought to have been laid before the House in September 2025.
Amaewhule explained that traditionally, the document is expected to be presented four months before the commencement of the next financial year and immediately after the expiration of every three-year fiscal cycle.
He, however, stated that in the interest of the State and its people, the House considered it necessary to deliberate on the document, describing it as a precursor to the 2026 Budget Estimates.
The Speaker expressed concern that the year had already progressed significantly before the presentation of the framework.
During deliberations on the document, members examined the assumptions and projections contained in the MTEF and observed that strict adherence to the outlined fiscal parameters would ultimately serve the interest of Rivers people.
The lawmakers maintained that effective implementation of the framework would promote prudent financial management and enhance developmental planning across the State.
Following the debate and positive consideration by members, the Speaker put the question to the House and members voted overwhelmingly in support of the approval of the MTEF.
Meanwhile, during the same sitting last Friday, the House also received a petition from the Chairman of Obio/Akpor Local Government Council, Dr. Gift Worlu.
The petition was presented by the member representing Obio/Akpor Constituency II, Hon. Emilia Amadi.
According to the petition, concerns were raised over an imminent security breach, threats to lives, destruction of property and alleged forceful takeover of property by some lawless persons within parts of the Local Government Area.
Presenting the petition before the House, Hon. Amadi appealed to the lawmakers to revisit the matter and take necessary steps aimed at safeguarding lives and property in the affected communities.
The House is expected to further deliberate on the petition and consider measures to address the concerns raised in order to sustain peace and security in the area.
King Onunwor
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