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Premabiri Rice Project: Reflections
The issues about closure of Nigerian borders with neighbouring countries, for economic and security purpose, have been generating mixed reactions and misgivings by various people and interest groups. One major or visible effect of the border closure policy is the rising cost of food items, particularly rice.
Reasons necessitating the border closure are quite valid on the long-run, but the biting effects on the population raise humanitarian question.
Someone gave a humorous parable that if in an effort to encourage your children to learn how to roast corn, your house gets burnt down, then, such project makes no economic or security sense. But border closure has no basis for comparison with roasting of corn. However, managing the affairs of a nation demands the application of three vital management principles, namely: efficiency, effectiveness and continuity (EEC principles).
Efficiency has to do with internal organizational cohesion arising from sound division of labour, cooperation, motivation, accountability and speed and economy in the accomplishment of tasks. These would demand a clear road map. Effectiveness is determined by the ability to accomplish objectives as planned, coupled with the quality of services and level of satisfaction derived by those being served. These are achievable by the installation and operation of adequate control measures. Continuity is the ability to remain stable and grow, because people happy.
What determines the happiness and cooperation of people in a management process is largely the level of transparency, accountability and sense of responsibility exhibition by a management team. Wherever those taking on the duty of managing the affairs of a nation are seen to deviate from the rules of transparency, accountability and responsibility, then, the cooperation and patriotism of the masses would dwindle.
In the case of management public affairs in Nigeria, there is an obvious loss of confidence in the psyche of the masses towards the leadership. If nobody has had the sincerity to state this fact in public, the reason is that people are afraid to says the truth. Wherever the masses are afraid to say the truth but resort to flattery because it pays to do so, what results is a slow decline.
Once upon a time when Rivers State included current Bayelsa State, there was an agriculture project involving the production of rice in large scale, in Peremabiri located in Bayelsa State. Conception of the project was noble and full of good intentions, including the creation of job opportunities and food for the masses. Feasibility study was undertaken by some zealous and expert authorities, vast area of land acquired for the purpose, and personnel trained and hired. There were great expectation!
Today, the memory of the Peremabiri Rice Project evokes not only sadness but mockery as well. Sadness, because it was a failed project, despite the initial enthusiasm, expectations and huge revenue invested therein, Mockery arose from the fact that some cynical persons right from the initial stage predicted a possible failure of the project. Failure of the Peremaabiri Rice Project, for those cynical persons, became a self-fulfilled prophecy. What the cynics foresaw came to pass.
What would be of vital interest to the reading public in this article, include what the cynical persons saw earlier which made them to predict a possible failure of the Peremabiri affair. In a situation where foreign agricultural experts were brought to Rivers State, kept in Hotel Olympia and other 5-Star hotels, with bills running into million of naira, the cynics kept watchful eyes.
Were they wrong to predict that gains made from the rice project in the first four years would go into payment of hotel bills?
Obviously, within Nigeria, there are local experts in race cultivation business. Hiring some of such local rice farmers to pass on their experiences and skills, to boost the Peremabiri project would have reduced costs considerably. They would not have been lodged in S-Star hotels but would gladly have lived with Peremabiri indigenes. A Local Content Policy can be interpreted and meant to include the identification and effective utilisation of locally available talents, abilities and resources. We know how patriotic our elites are in the encouragement and consumption of what products that are available with us, locally.
It was quite instructive, interesting but really shocking, listening to what a PhD student under my supervision had to say about what he meant by “kill and divide” culture in Nigerian business and political affairs. It is like saying: “You provide the fire and I would provide the sacrifice.” With regards to doing business in Nigeria, the “Kill-and-divide culture translates into the mechanism of corrupt practices, whereby one person provides the contract, and another does the dark deals.
These are well known facts, even though some people would pretend not to be aware that sharp and unethical practices have resulted in the killing of state-sponsored projects and the dividing of the spoil arising there from. Therefore, what became of the Peremabiri Rice Project would not be different from the fate of other failed projects also.
We had Rubber Estates, Oil-palm Estates, Brewing and Bottling Companies, Fisheries and Banana Farms, Fibre Boat Building Companies and made attempt to establish a business estate in Ahoada, what happened to all these projects?
The cynical persons whose prophesy about Peremabiri Rise Project became a reality, would tell us that the “kill-and-divide” culture accounts for why we have failed projects in Nigeria. With all good intentions, border closure would throw up a few people who would turn it into a failed project.
Why so? The EEC Principles in management can give us some answers.
The Independent National Electoral Commission (INEC) has announced that it has now received a total of 129 applications from associations seeking registration as political parties.
The update was provided during the commission’s regular weekly meeting held in Abuja, yesterday.
According to a statement signed by the National Commissioner and Chairman of the Information and Voter Education Committee, Sam Olumekun, seven new applications were submitted within the past week, adding to the previous number.
“At its regular weekly meeting held today, Thursday 10th July 2025, the commission received a further update on additional requests from associations seeking registration as political parties.
“Since last week, seven more applications have been received, bringing the total number so far to 129. All the requests are being processed,” the commission stated.
The commission revealed the introduction of a new digital platform for political party registration. The platform is part of the Party Financial Reporting and Auditing System and aims to streamline the registration process.
Olumekun disclosed that final testing of the portal would be completed within the next week.
“INEC also plans to release comprehensive guidelines to help associations file their applications using the new system.
“Unlike the manual method used in previous registration, the Commission is introducing a political party registration portal, which is a module in our Party Financial Reporting and Auditing System.
“This will make the process faster and seamless. In the next week, the commission will conclude the final testing of the portal before deployment.
“Thereafter, the next step for associations that meet the requirements to proceed to the application stage will be announced. The commission will also issue guidelines to facilitate the filing of applications using the PFRAS,” the statement added.
In the meantime, the list of new associations that have submitted applications has been made available to the public on INEC’s website and other official platforms.
President Bola Tinubu yesterday signed into law four tax reform bills aimed at transforming Nigeria’s fiscal and revenue framework.
The four bills include: the Nigeria Tax Bill, the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill.
They were passed by the National Assembly after months of consultations with various interest groups and stakeholders.
The ceremony took place at the Presidential Villa, yesterday.
The ceremony was witnessed by the leadership of the National Assembly and some legislators, governors, ministers, and aides of the President.
The presidency had earlier stated that the laws would transform tax administration in the country, increase revenue generation, improve the business environment, and give a boost to domestic and foreign investments.
“When the new tax laws become operational, they are expected to significantly transform tax administration in the country, leading to increased revenue generation, improved business environment, and a boost in domestic and foreign investments,” Special Adviser to the President on Media, Bayo Onanuga said on Wednesday.
Before the signing of the four bills, President Tinubu had earlier yesterday, said the tax reform bills will reset Nigeria’s economic trajectory and simplify its complex fiscal landscape.
Announcing the development via his official X handle, yesterday, the President declared, “In a few hours, I will sign four landmark tax reform bills into law, ushering in a bold new era of economic governance in our country.”
Tinubu made a call to investors and citizens alike, saying, “Let the world know that Nigeria is open for business, and this time, everyone has a fair shot.”
He described the bills as not just technical adjustments but a direct intervention to ease burdens on struggling Nigerians.
“These reforms go beyond streamlining tax codes. They deliver the first major, pro-people tax cuts in a generation, targeted relief for low-income earners, small businesses, and families working hard to make ends meet,” Tinubu wrote.
According to the President, “They will unify our fragmented tax system, eliminate wasteful duplications, cut red tape, restore investor confidence, and entrench transparency and coordination at every level.”
He added that the long-standing burden of Nigeria’s tax structure had unfairly weighed down the vulnerable while enabling inefficiency.
The tax reforms, first introduced in October 2024, were part of Tinubu’s post-subsidy-removal recovery plan, aimed at expanding revenue without stifling productivity.
However, the bills faced turbulence at the National Assembly and amongst some state governors who rejected its passing in 2024.
At the NASS, the bills sparked heated debate, particularly around the revenue-sharing structure, which governors from the North opposed.
They warned that a shift toward derivation-based allocations, especially with VAT, could tilt fiscal balance in favour of southern states with stronger consumption bases.
After prolonged dialogue, the VAT rate remained at 7.5 per cent, and a new exemption was introduced to shield minimum wage earners from personal income tax.
By May 2025, the National Assembly passed the harmonised versions with broad support, driven in part by pressure from economic stakeholders and international observers who welcomed the clarity and efficiency the reforms promised.
In his tweet, Tinubu stressed that this is just the beginning of Nigeria’s tax evolution.
“We are laying the foundation for a tax regime that is fair, transparent, and fit for a modern, ambitious Nigeria.
“A tax regime that rewards enterprise, protects the vulnerable, and mobilises revenue without punishing productivity,” he stated.
He further acknowledged the contributions of the Presidential Fiscal Policy and Tax Reform Committee, the National Assembly, and Nigeria’s subnational governments.
The President added, “We are not just signing tax bills but rewriting the social contract.
“We are not there yet, but we are firmly on the road.”
The Senate has issued a 10-day ultimatum to the Nigerian National Petroleum Company Limited (NNPCL) over its failure to appear before the Senate Committee on Public Accounts probing alleged financial discrepancies amounting to over ?210 trillion in its audited reports from 2017 to 2023.
Despite being summoned, no officials or external auditors from NNPCL showed up yesterday.
However, representatives from the representatives of the Economic and Financial Crimes Commission, Independent Corrupt Practices and Other Related Offences Commission and Department of State Services were present.
Angered by the NNPCL’s absence, the committee, yesterday, issued a 10-day ultimatum, demanding the company’s top executives to appear before the panel by July 10 or face constitutional sanctions.
A letter from NNPCL’s Chief Financial Officer, Dapo Segun, dated June 25, was read at the session.
It cited an ongoing management retreat and requested a two-month extension to prepare necessary documents and responses.
The letter partly read, “Having carefully reviewed your request, we hereby request your kind consideration to reschedule the engagement for a period of two months from now to enable us to collate the requested information and documentation.
“Furthermore, members of the Board and the senior management team of NNPC Limited are currently out of the office for a retreat, which makes it difficult to attend the rescheduled session on Thursday, 26th June, 2025.
“While appreciating the opportunity provided and the importance of this engagement, we reassure you of our commitment to the success of this exercise. Please accept the assurances of our highest regards.”
But lawmakers rejected the request.
The Committee Chairman, Senator Aliyu Wadada, said NNPCL was not expected to submit documents, but rather provide verbal responses to 11 key questions previously sent.
“For an institution like NNPCL to ask for two months to respond to questions from its own audited records is unacceptable,” Wadada stated.
“If they fail to show up by July 10, we will invoke our constitutional powers. The Nigerian people deserve answers,” he warned.
Other lawmakers echoed similar frustrations.
Senator Abdul Ningi (Bauchi Central) insisted that NNPCL’s Group CEO, Bayo Ojulari, must personally lead the delegation at the next hearing.
The Tide reports that Ojulari took over from Mele Kyari on April 2, 2025.
Senator Onyekachi Nwebonyi (Ebonyi North) said the two-month request suggested the company had no answers, but the committee would still grant a fair hearing by reconvening on July 10.
Senator Victor Umeh (Anambra Central) warned the NNPCL against undermining the Senate, saying, “If they fail to appear again, Nigerians will know the Senate is not a toothless bulldog.”
Last week, the Senate panel grilled Segun and other top executives over what they described as “mind-boggling” irregularities in NNPCL’s financial statements.
The Senate flagged ?103 trillion in accrued expenses, including ?600 billion in retention fees, legal, and auditing costs—without supporting documentation.
Also questioned was another ?103 trillion listed under receivables. Just before the hearing, NNPCL submitted a revised report contradicting the previously published figures, raising more concerns.
The committee has demanded detailed answers to 11 specific queries and warned that failure to comply could trigger legislative consequences.
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