Connect with us

News

NEITI Accuses NNPC Of Not Remitting Bridging Allowances

Published

on

The Nigerian Extractive Industries Transparency Initiative, NEITI, has accused the Nigerian National Petroleum Corporation, NNPC, of failing to remit to the Petroleum Equalisation Fund Management Board, PEF(M)B, bridging allowances for a significant number of years.
In its Fiscal Allocation and Statutory Disbursement, FASD, Audit for 2012 – 2016, obtained yesterday, NEITI stated that PEF had been unable to make the NNPC to pay for the amount it owed.
Though it did not state the amount the NNPC owed and the period over which the NNPC had defaulted, NEITI said PEF received N381.888 billion from major and independent oil marketers and the Pipeline and Petroleum Marketing Company PPMC, from 2012 and 2016.
According to the NEITI report, a total of N499 billion was received by PEF Management Board (MB) throughout the review period, 2012 to 2016, with N382 billion realised from Bridging allowance; while most of its expense was on claims amounting to almost N303.4 billion.
It noted that receipts in 2012 was N76.8 billion, increasing by 84 per cent to N141.66 billion in 2013, but decreased by 23 per cent to N109.6 billion in 2014.
The report added that receipts also increased by 56 per cent in 2015 to N170.83 billion, while it noted that financial statement for the year 2016 was yet to be finalized and therefore was not included in the analysis.
NEITI said, “With emphasis on NNPC; the fund finds it extremely difficult to ensure that NNPC pays the amount owed to the Fund and as a result, the Fund has outstanding huge amount receivables from NNPC for a number of years.”
The report further stated that while the NNPC remitted N13.535 trillion to the Federation Account from 2012 to 2016, it failed to remit to N373.878 billion to the federation over the same number of years.
In addition to the NNPC default, NEITI said it observed that PEF does not impose penalties promptly on defaulting independent and major oil marketers who failed to pay their contributions.
It added that PEF paid claims to major and independent oil marketers only after deducting the contributions and allowances due from the marketers to PEF(M)B, noting that in some cases, bridging claims were paid to some independent oil marketing companies without deducting the National Transportation Average, NTA, contribution due from them.
“When a marketer makes payment to the Fund resulting from the outstanding amount due, the Fund does not have a system to verify what transactions the amount paid relate. Detailed description is also not included in the bank statement. “Utilization of the Fund is not separated between the core activities and administrative purposes,” it noted.
To address these concerns, NEITI recommended “That the utilization of the Fund’s resources be disaggregated between primary activities, which include settlement of claims and receipt of NTA contributions, from the conventional administrative activities for management of Fund expenses.
“We recommend that management of PEF (M) B should have an aging analysis stating the period to which a marketer can be indebted. After these periods, we recommend that the management should not honor any claims due to independent or major oil marketing company until that company settles all previous indebtedness to PEF (M) B.
“It is also recommended that management should have a comprehensive schedule showing the list of marketers as well as the amount due from each marketer. We recommend that a competent staff be responsible for reconciling the amount paid by the marketers to the transactions to which the amount was due
NEITI described bridging allowance as the payment made by all licensed importers and marketers to PEF, adding that it is paid on the quantity of petroleum imported into the country. Currently, it disclosed that the rate is N6 per liter of imported petroleum products.
PEF is saddled with the responsibility of administering uniform prices of petroleum products throughout the country.
This is achieved by reimbursing a marketer’s transportation differentials for petroleum products movement from depots to their sales outlets in order to ensure that products are sold at a uniform pump price throughout the country.
The source of the fund is from the net surplus revenue recovered from oil marketing companies.

Continue Reading

News

Rivers Govt Hails Anglican Church’s Role In Peace, Development

Published

on

The Rivers State Government has commended the Church of Nigeria (Anglican Communion) for its outstanding contributions to the development of Rivers State, particularly in the areas of peacebuilding, education, healthcare, and moral development.
Governor of Rivers State, Siminalayi Fubara, stated that the Church has remained a dependable partner in promoting peace, unity, justice, moral discipline, and social harmony across society.
The Governor, who was represented by the Secretary to the State Government, Dr. Dagogo Wokoma, made the remarks during the thanksgiving service marking the 30th Anniversary and First Session of the 11th Synod of the Diocese of Niger Delta North, held at St. Peter’s Anglican Church on Sunday.
Governor Fubara described the Synod’s theme, “Kingdom Advancement: The Priority of Every Believer,” as timely and relevant, considering the prevailing realities in society.
According to him, the Church continues to play a vital role in shaping societal values and inspiring hope among citizens.
“The Church remains a vital partner in promoting peace, unity, justice, and moral discipline. Its role in shaping values and inspiring hope cannot be overemphasized,” he stated.
The Governor further acknowledged the Anglican Communion’s contributions in education, healthcare delivery, youth empowerment, humanitarian services, and spiritual guidance across communities in Rivers State.
“The Rivers State Government appreciates the invaluable contributions of the Anglican Communion in education, healthcare, youth development, humanitarian support, and spiritual guidance. Your impact across communities in Rivers State continues to strengthen families and promote peaceful coexistence among our people,” he added.
Governor Fubara reaffirmed his administration’s commitment to building a peaceful, united, and prosperous Rivers State where all citizens can thrive irrespective of religion, ethnicity, or social background.
He also urged the Synod to continue praying for sustainable development and progress in Rivers State and Nigeria at large.
Earlier in his sermon, the Guest Minister, Joseph Olushola, spoke on the topic, “Kingdom Investment and Internal Rewards,” urging Christians to remain faithful stewards of God’s blessings and committed to advancing God’s kingdom through service and generosity.
The cleric emphasized that believers are custodians of the virtues and resources entrusted to them by God, stressing that divine rewards are based on faithfulness and impact rather than material possessions.

Continue Reading

News

Shell, MAN Back Rivers’ Drive For Expanded Gas Supply To Industries

Published

on

The Shell Nigeria Gas Limited, in partnership with the Manufacturers Association of Nigeria (MAN), has reaffirmed support for efforts to expand gas distribution infrastructure in Rivers State as part of initiatives aimed at improving access to affordable, cleaner and more reliable energy for industries across the South-South region.
The commitment was highlighted during the SNG–MAN Business Forum held in Port Harcourt, where stakeholders from the industrial and public sectors examined the role of natural gas in driving industrialisation, boosting local production and strengthening energy security.
Speaking at the forum on behalf of the Managing Director of Shell Nigeria Gas Limited, the company’s Head of Gas Distribution, Mr. Chukwuka Amos Ejesi, described natural gas as a critical component of Nigeria’s energy mix and a key driver of sustainable industrial growth.
According to him, Nigeria’s gas development agenda has reached a stage where policy direction must be matched with practical implementation capable of addressing the energy challenges confronting manufacturers.
He noted that pipeline gas offers industries a cleaner, more dependable and cost-effective energy alternative capable of supporting uninterrupted operations, reducing emissions and improving production efficiency.
“Gas is the backbone of manufacturing, and we are encouraged by the growing recognition among stakeholders of the need for cleaner and more reliable energy solutions,” he said.
Ejesi stressed the need for sustained collaboration among energy providers, government institutions and industrial stakeholders to maximise the country’s gas resources for economic development.
He added that improved gas infrastructure would strengthen manufacturing value chains, enhance productivity and promote more competitive industrial operations across Rivers State and the wider South-South region.
Participants at the forum also emphasised the importance of expanding energy infrastructure as a pathway to unlocking industrial capacity, reducing operating costs and promoting sustainable industrial development.
Representing Governor Siminalayi Fubara, the Director-General of the Rivers State Investment Promotion Agency, Dr. Chamberlain Peterside, reaffirmed the state government’s commitment to partnering with private sector investors to revitalise industrial activities in the state.
He identified key projects targeted under the initiative to include the revival of the Ahoada Industrial Park, the New Port City project and the proposed Bonny Industrial Park, all aimed at stimulating economic growth and expanding industrial opportunities along the Bonny corridor.
According to the governor, the long-term vision is to position Rivers State as a leading manufacturing hub in Southern Nigeria through strategic public-private partnerships.
Governor Fubara also commended Shell Nigeria Gas and MAN for sustaining engagements geared towards improving industrial energy access, noting that gas infrastructure development remains central to the state’s economic recovery plans.
He further observed that the gas sector presents enormous opportunities for economic growth, especially as global energy systems continue to shift towards cleaner energy sources.
The governor called on stakeholders to work collectively towards developing a practical and sustainable gas framework capable of supporting the state’s industrial and energy development objectives.

By; Kevin Nengia

Continue Reading

News

Odu Charges Newlyweds To Build Marriage On Love

Published

on

Rivers State Deputy Governor, Prof. Ngozi Nma Odu, has charged newlywed couples to build their marriages on the virtues of love and submission as taught in the Word of God.
Prof. Odu gave the charge at the wedding ceremony of Amblessed Favour Sunny-Cookey and Samson Jesuganji at Lifegate Power Ministries, Dominion Cathedral, in Port Harcourt on Saturday, 16th May 2026.
The Deputy Governor congratulated the couple on beginning a new phase of life together and prayed for God’s blessings upon their union, noting that the couple had been raised by godly parents and encouraged them to uphold the Christian values instilled in them.
Referring to the sermon delivered during the ceremony, Prof. Odu emphasized that the principles of love and submission remain fundamental to a successful marriage.
According to her, genuine love reflects the nature of God, stressing that love should remain the foundation of the couple’s relationship as they journey through life together.
Prof. Odu further prayed for enduring peace, happiness, and progress in the home, expressing confidence that the marriage would continue to flourish under God’s guidance.
The Deputy Governor also commended the families of the couple for their support and upbringing, while urging the newlyweds to always remember the significance of the day and the commitment they had made before God and witnesses.
In his sermon at the wedding, the Founder and Presiding Pastor of Salvation Ministries, Pastor David Ibiyeomie, stated that marriage did not originate from Western culture, traditions, or human ideas, but from God, whom he described as the “manufacturer” of marriage.
According to the cleric, couples seeking lasting and peaceful homes must rely on biblical principles rather than societal trends or assumptions.
He explained that many marital crises and rising divorce rates stem from ignorance and failure to apply scriptural teachings in family life.
Drawing from the biblical parable of building a house on a rock, Pastor Ibiyeomie said the Word of God remains the only solid foundation capable of sustaining marriages through challenges and difficult times.
He noted that marriage naturally comes with unexpected realities and pressures, stressing that religious ceremonies or cultural practices alone are not enough to sustain a home without proper understanding of God’s instructions.
The pastor further warned that ignorance of scripture remains one of the greatest weapons against believers, urging Christians to study and practice the Word of God rather than merely attending church services.
It would be recalled that the bride is the daughter of Pastor Sunny Cookey the Founder and Presiding Pastor of Lifegate Ministries. The Ceremony had lots of Ministers in attendance which includes Apostle Zilly Aggrey, Pastor George Izunwa, and Bishop Winston Iwo

Continue Reading

Trending