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NEC Orders NNPC, FIRS, Others To Refund N8trn …As Govs Insist On Determining Oil Subsidy Payment
The National Economic Council, NEC, yesterday, directed the federal government revenue agencies like the Nigeria National Petroleum Corporation, NNPC, Nigerian Petroleum Development Company, NPDC, Nigerian Custom Service, Nigerian Ports Authority among others to refund N526 billion and $21 billion which is about N8 trillion that was under-remitted to federation account.
The NEC at its meeting presided over by the Vice-President Yemi Osinbajo at the Presidential Villa, Abuja, received the final report of the forensic audit of the agencies conducted by the international firm, KPMG and observed that eighteen agencies did not remit the appropriate money to the nation’s treasury.
Other agencies to refund the money include Federal Inland Revenue Service, FIRS, Nigerian Maritime Administration and Safety Agency, NIMASA, Nigerian Communications Commission, NCC, Central Bank of Nigeria, CBN, Department of Petroleum Resources, DPR, among several.
Briefing State House correspondents after the NEC meeting at the Council Chambers, State House, the Gombe State Governor, Ibrahim Dankwanbo, who also chaired the NEC’s ad-hoc technical committee on the probe, said the Council adopted the report and resolved to refer those found culpable in the underpayments to the Attorney-General of the Federation for prosecution.
According to him: “KPMG presented the report of the technical audit of RGAs concluding that a total sum of N526 billion and USD$21 billion was under-paid to the Federation Account.
“Council adopted the presentations and reports of the KPMG and the recommendations of its Ad-hoc Committee including a resolution to identify instances where there appears to have been criminal infringements and forward such to the Attorney-General of the Federation and the Legal Committee of the National Economic Council for further action.
“Council resolved to pursue strengthening of the NNPC governance structure to prevent further recurrence of such gross under-remittance by the NNPC and other RGAs.”
The Ad-hoc Committee, which also has other members as Governors of Edo, Kaduna, Akwa Ibom, and Lagos States as well as the Finance Minister, further recommended a refund of the amounts under-paid by the defaulting agencies.
Dankwanbo added that “one of the resolutions of NEC today is to extend the audit to June 2017. So the audit will continue for the remaining agencies: NNOC, NPDC, DPR, Customs, Federal Internal Revenue Services, NPA, Maritime Authorities, all the revenue generating agencies and the details of the infringement are contained in the report.
“The most important decision that was taken is that a sub-committee will be set up, which will be an arm of the legal committee of NEC that will look into details of these kinds of infringements and make sure that those issues that are criminal and require prosecution will be handled by office of the Attorney General of the Federation.”
The NEC also heard that the balance in the Excess Crude Account (ECA) as at May 14, 2018 stands at $1.803 billion; the Stabilization Account as at May 14, 2018 stands at N15.72 billion; and the current balance in the Natural Resources Development Fund as at May 14, 2018 stands at N116.10 billion.
Asked if the Council will not commend agencies that remitted 100 percent, he said: “And also to say that an audit is an exception report, it is not an okay report. So we are not looking for a company that is doing well. He said,
“Accountability does not mean you are doing well, the mirror is very big and depending on how you look at the mirror that is how you will see yourself.
“Our problem is the volume, the quantity of consumption which is not acceptable. Working with the governors so many decisions were taken but by next month, we are going to adopt the position that either the governors take responsibility for the subsidy in their states based on their consumption or we look at other ways.
“For instance, if you say we paid N800 billion subsidy, you will ask who are we paying the subsidy to? And if you look at infrastructure development and capital programme of the federal government, it is about N1.1 trillion, almost 70 percent of what you are spending developing the economy. “If there is no infrastructure development then you cannot talk about development of the economy. N800 billion is a huge amount and we must look into it: who is benefiting from it.
“By next meeting (May or June), we will definitely come up with a position of the government at both levels of volume of what is being brought into the country and what the state and federal government collaborate to check”.
He further updated the press with highlights on a report of the Nigeria Industrial Policy and Competitiveness Council in collaboration with the Nigeria Communications Commission, which recommended State Government’s intervention in boosting the country’s drive towards more investments and business friendly environment.
These include: Improving broadband penetration in the countryside; Resolving multiple taxation; Facilitating access to land; Providing security for investment; Standardising regulatory requirements; Facilitating integrated business linkage;
Collaborating on project development; Providing shared facilities. Osun State governor, Rauf Aregbesola, briefed on the work of the Technical Working Group (TWG) and the Sub-national Ease of Doing Business Project covering October 2017 to date, some of which include: Adopting the model of Presidential Enabling Business Environment (PEBEC) by the States working with their reform champions;
Collaborating with the States in setting up structure for Ease of Doing Business similar to the PEBEC; and Organising State and regional stakeholders’ fora supported by the States in order to communicate and validate the impact of reforms with SME/OPS within each State and region.
Minister of National Planning, Udo Udoma, gave the NEC his report on the Economic Recovery and Growth Plan (ERGP) Focus Labs conducted round the country recently.
The Labs identified 164 projects spread across the six geopolitical zones of the country, indicating that over 500,000 jobs are likely to be created by 2020; and that more labs would be conducted in due course for other sectors, with a recommendation that States should adopt the same model.
Meanwhile, Governors of the states of the federation want states rather than the Nigerian National Petroleum Corporation (NNPC) to determine how much is paid as subsidy by the government.
This is as they raise questions over the amount the NNPC claims that it is paying as a subsidy as well as the corporation’s stated quantity of local consumption which the forum is now disputing.
With dwindling accruals to states, NNPC has told the governors that it is now paying subsidy on 60 million litres daily consumption up from 33 million litres a few months ago.
Not satisfied with the corporation’s explanation, the governors under the Nigeria Governors Forum (NGF) have now said the individual state will determine the quantity of the product consumed in its territory as a basis for calculating the subsidy to be paid.
Emerging from a meeting of the Forum last night in Abuja, its chairman and Zamfara state governor, Abdulaziz Yari, told reporters that “if states say our demand is 30 million litres, you cannot say you bought 60 million litres for us.
“We are taking every situation carefully so that we don’t endanger the security situation of the country and at the same time, we do not play into the hands of the NNPC.”
He said however that the governors will not be pushing for the investigation of NNPC as the move may backfire.
Yari explained: “You see, we are in the hands of these people (NNPC) and we are trying to be cautious. Not just NNPC, even Nigerians are not helping matters because when there is a shortfall in the product, everybody will start making noise. And you will not know why there is a shortfall.
“If we start to investigate, these people will create chaos that we will regret and Nigerians will not look at the damage from the base. But rather, they will start accusing the government of laxity or not doing what it is supposed to be doing.
“So, it’s not about an investigation. It’s about knowing what’s going to happen to future supply. And this supply, the destination must be set.
“That’s is why we gave the states the responsibility to go back and ascertain the quantity needed by each and every state.”
The National Economic Council (NEC) led by Vice President Yemi Osinbajo is expected to endorse the move
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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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JUNE 12: Democracy Remains Nigeria’s Strongest Path To Unity, Progress, Says Fubara ….Extols Abiola, Wife
Governor of Rivers State, Sir Siminalayi Fubara, has reaffirmed that democracy remains the most effective system of government for Nigeria, given the country’s rich diversity of ethnic, religious, and cultural identities.
In a goodwill message to Nigerians on the occasion of the 2026 Democracy Day celebration, Governor Fubara said June 12 represents far more than a historic date; as it embodies the enduring struggle, sacrifice, and collective aspiration of Nigerians for freedom, justice, and representative governance.
The Governor extended warm felicitations to Nigerians at home and in the Diaspora, paying tribute to the heroes and heroines of the democratic struggle, particularly Chief MKO Abiola, his wife, Kudirat Abiola, and countless others whose courage and sacrifices helped secure the democratic freedoms Nigerians enjoy today.
According to him, “June 12 is a reminder of the price paid for the democracy we enjoy today. The sacrifices made by Chief MKO Abiola, Kudirat Abiola, and many other patriots who laid the foundation for the democratic journey we continue to enjoy today. Their commitment to the principle that power must ultimately reside with the people remains a source of inspiration for every generation of Nigerians.”
Governor Fubara noted that thirty-three years after the historic June 12, 1993 election, Nigeria’s democratic experiment has continued to evolve despite challenges and setbacks.
“Our democratic journey has not been without difficulties, but the resilience of our institutions and the determination of our people have kept the nation moving forward. The ability to express differing opinions, engage in constructive debate, and peacefully choose leaders through the ballot remains one of the greatest achievements of our nation,” he said.
Governor Fubara stressed that democracy provides the best framework for managing Nigeria’s diversity and transforming it into a source of national strength.
“Nigeria’s diversity should never be seen as a weakness. Properly harnessed, it is our greatest asset. Democracy offers us the opportunity to build consensus, promote inclusion, strengthen national unity, and create the conditions for sustainable development and shared prosperity,” he said.
Governor Fubara commended President Bola Ahmed Tinubu, for his commitment to the Renewed Hope Agenda and ongoing efforts aimed at economic revitalization, strengthening security, and deepening democratic institutions across the country.
He reiterated the readiness of Rivers State to continue partnering with the Federal Government in advancing policies and programmes that improve the lives of citizens through infrastructure development, job creation, enhanced security, quality education, healthcare delivery, and good governance.
The Governor further called on Nigerians, regardless of political affiliation, ethnic background, or religious belief, to use the occasion of Democracy Day to renew their commitment to the Nigerian project and the ideals that underpin democratic governance.
“Democracy must not be viewed merely as a periodic electoral exercise. It must be reflected in our daily commitment to accountability, transparency, tolerance, justice, respect for the rule of law, and responsible leadership. As citizens and leaders, we all share a collective responsibility to strengthen our democracy and build a nation that future generations will be proud to inherit,” he said.
Governor Fubara expressed optimism about Nigeria’s future, urging citizens to remain united, hopeful, and committed to the values of peace, dialogue, and national development.
“Together, we can build a stronger, more inclusive, and more prosperous Nigeria where every citizen has the opportunity to thrive and contribute meaningfully to national progress,” he said.
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