Politics
Reps Okay Bill To Plug Revenue Leakages In Oil Sector

The House of Representatives, last Wednesday, passed a bill seeking to help plug leakages in government’s streams of income in the oil sector for second reading.
This followed a motion by the Deputy Majority Leader, Ahmed Wase, at plenary, presided over by Speaker Yakubu Dogara in Abuja.
Moving the motion, Wase (APC-Plateau) noted that as a result of lack of amendment of the Act, government has lost 21 billion dollars since 2008 when its review was due.
“Government loses about 8 million dollars daily as a result of lack of review,” he said.
According to him, a Bill for an Act to amend the Deep Offshore and Inland Basin Production Sharing Contracts Act, 1999, will help to provide more efficient methods of computing accruable revenue of government.
“It will improve the revenue of the government of the federation.
“Such additional revenue can adequately fund part of our budget deficit, boost the economy and improve living conditions of Nigerians.
“It will improve the petroleum industry governance,” he said.
According to the lawmaker, the bill seeks to effect an amendment in the Principal Act (Deep Offshore and Inland Basin Production Sharing Contracts Act, 1999) in order to plug leakages in government revenue streams and ensure the Federal Government maximises sufficient royalties from Production Sharing Contracts (PSC) between NNPC and International Oil Companies (IOCs).
“PSC was widely introduced in 1993 to address some of the issues faced by the Joint Operating Agreement (JOA) between the NNPC and IOCs and also to provide a suitable agreement structure for encouraging foreign investment in offshore acreage.
“Under these arrangements, the NNPC is the holder of the concession while the IOC is the contractor.
“In 1993, the NNPC entered into PSCs with eight IOCs and Nigeria is believed to have attracted much needed additional foreign investment as a result.
“These new PSCs attracted IOCs due to their favourable fiscal and legal regimes, as IOCs were given a higher profit share for the more marginal and high risk projects off shore,” he explained.
Wase said in 2000, eight new deep water licenses were offered, of which the terms of the PSC were considered to be tougher for IOCs.
He said the reduced risks involved in finding larger deep water reserves was the main reason for tougher profit oil splits in the 2000 PSC terms.
“In 2005, 14 deep water licenses were offered, of which certain alterations were again made to the PSC model contract,” he said.
He said Sections 16 of the Principal Act was amended by adding a new subsection (3) immediately after subsection (2) of the Principal Act.
Wase pointed out that: “Section 16 (3) In accordance with the provisions of subsection (1) stipulated that a royalty rate by price of 50 per cent should be for the additional revenue in the contract area of the Production Sharing Contracts under this Act.
“And the additional revenue shall be determined by the product of the volume of crude oil or condensate sold and the difference between the actual nominal sales price of the oil or condensate and the nominal value of $20 per barrel, (1993 real terms), at the time of sales, provided that the value of $20 per barrel (1993 real terms) shall be determined based on relevant US All Items Consumer Price Index (CPI) as published by the US Bureau of Labour Statistics,” he said.
He said the amendment was imperative to improving government’s revenue for the overall interest of the people.
“I therefore urge this Honorable House to consider it for passage,” he enjoined.
After a debate on the motion, the speaker, put it on a voice vote and the lawmakers unanimously supported it.
He then referred the bill to the House Committee on Petroleum Upstream for further legislative action.
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Politics
Alleged Smear Campaign Against Yakubu, CSOs Demand Apology From Uzodimma

During a press conference held in Owerri, the coalition called the campaign a “dangerous and shameful display” designed to distract the public from the governor’s performance in office.
The CSOs directly linked the Greater Imo Initiative (GII) —the group that made the allegations on September 4, 2025—to Governor Uzodimma, describing the group as his “mouthpiece and attack dog.”
“Every word spoken against INEC was spoken on his behalf.
“By falsely alleging that Professor Yakubu has an alliance with Dr. Amadi to compromise the 2027 elections, Uzodimma has not only maligned a man of proven integrity but also assaulted the very foundation of our democracy”, said Dr Agbo Frederick, speaking for the coalition.
The coalition described Professor Yakubu as a “beacon of electoral professionalism” and called the attempt to soil his reputation “defamatory and a national security risk.”
They also defended Dr. Amadi, a “respected development scholar,” stating that the governor’s accusations were “laughable, desperate, and dangerous.”
The CSOs see the motive behind the campaign as an attempt to “silence the dissent, intimidate the opposition, and divert attention from the governor’s abysmal record in office.”
The coalition issued four key demands to Governor Uzodimma: An immediate retraction of the false and defamatory allegations against Professor Mahmood Yakubu and Dr. Chima Amadi.
- A public apology to both men within seven days, to be published in at least three national newspapers and broadcast on major television networks.
- An end to diversionary tactics and proxy propaganda.
- A renewed focus on governance, including addressing insecurity, unemployment, and poverty in Imo State.
The CSOs warned that failure to comply would force them to “review our position with a view to seeking legal redress from Governor Uzodimma for defamation, false accusation, and reckless endangerment of lives.”
“Governor Uzodimma must be reminded that he did not find himself in the seat of power to chase shadows.
“We call on all Nigerians to reject Uzodimma’s diversionary antics as they are nothing short of desperate plots by a government terrified of accountability”, the statement concluded.
Politics
Stopping Natasha’s Resumption Threatens Nigeria’s Democracy – ADC
In a statement signed by its National Publicity Secretary, Mallam Bolaji Abdullahi, the ADC expressed concern that preventing the senator from resuming her legislative duties violates democratic principles and disenfranchises her constituents.
“The suspension, having been imposed by the Senate and not a court of law, has lapsed. Any further attempt to prevent her from resuming is therefore both illegal and morally indefensible,” Mallam Abdullahi said.
The party noted that denying Sen. Akpoti-Uduaghan access to the chamber silences the voice of the people who elected her, adding that the withdrawal of her salary, aides, and office access during the suspension amounted to excessive punishment.
The ADC also criticised the Clerk of the National Assembly for declining to process her resumption on grounds that the matter was before the courts, arguing that the Clerk’s role was administrative, not judicial.
“Administrative caution must not translate into complicity. When the administrative machinery becomes hostage to political interests, the institution itself is diminished,” the party stated.
Highlighting that Sen. Akpoti-Uduaghan is one of only four women in the 109-member Senate, the ADC warned that the handling of the case sends a discouraging signal about gender inclusion in Nigerian politics.
“Any action that resembles gender intimidation of the few women in the Senate would only discourage women’s participation. Nigeria cannot claim to be a democracy while excluding half of its population from key decision-making spaces,” Mallam Abdullahi added.
The ADC insisted that Sen. Akpoti-Uduaghan be allowed to resume her seat immediately, stressing that the matter was about more than one individual.
“What is at stake here is not just one Senate seat, but the integrity of our democracy itself,” the party said.
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