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We’ll Recover Every Looted Fund In NDDC, Prosecute Culprits, Buhari Assures Nigerians

President Muhammadu Buhari, yesterday, in Abuja, said the forensic audit of the Niger Delta Development Commission (NDDC) was being reviewed, with a view to recovering every kobo that is recoverable.
He also gave assurance that those found culpable would face the law.
Speaking at the virtual commissioning of the NDDC Prototype Hostel at the University of Uyo, Akwa Ibom, the president said it was regrettable that the special development fund of the entire region was squandered by a few for more than 20 years, leaving many in penury.
“The Niger Delta Development Commission needs to demonstrate that it can achieve the objectives it was conceived for and make its impact felt all over the Niger Delta region. The lives of the people of the Niger Delta could be so much better, if the funding received by this commission since its inception, in billions of naira over the last 20 years, have been judiciously deployed in service of the people.
“The serial abuse, lack of delivery and what had become an entrenched institutional decay, are the reasons why I called for the forensic audit.
“Therefore, going forward, we shall ensure every recoverable kobo, is recovered for use in service of the people of this region and those found culpable shall face the law.
“Consequently, I want to use the opportunity of this commissioning to direct all statutory contributors to the NDDC to remit all outstanding funds to the commission, and to ensure this is done transparently and according to laid down procedure and process,” he said.
Buhari directed that all abandoned projects that directly impact the livelihood of the people should be revived and completed.
“When I directed the Minister of Niger Delta Affairs to institute a forensic audit of the commission, after many representations by major stakeholders in the Niger Delta, I had also directed that all viable projects which had been abandoned, but which would impact positively on the lives and livelihoods of the people, be immediately revived and completed.”
Buhari noted that the contract for the building of 1,050 capacity hostel for male and female students was awarded in 2004, and like many others, it was abandoned.
“This prototype university hostel consists of 1,050 bed spaces, 525 each for males and females, and is furnished to meet the needs of a university student. The complex also boasts of significant hard and soft infrastructure to ensure its sustainability and durability.
“The completion of this structure is equally in recognition of the importance government attaches to providing quality housing and improved education for all Nigerians.
“It is, therefore, another important proof that this administration is committed to satisfying the needs of the people, throughout Nigeria, and fulfilling their expectations. Government must continue in its efforts to serve the people, by providing amenities, as well as the enabling environment for scholarships, investments across all sectors, for sustenance of the environment, and overall growth of the economy.
“Significant part of this success story is that it could easily not have happened. The contract for this hostel was awarded as far back as 2004. It was one of many projects abandoned across the Niger Delta region, but which I directed the Minister of Niger Delta Affairs, Sen. Godswill Akpabio, to expeditiously complete and put to use,’’ the president added.
The president said across many public universities and institutions of higher learning children face accommodation challenges, while private investors were taking advantage of the gap to provide accommodation, unfortunately tasking the resources of parents and guardians.
“Many of them are located far away from school premises and come with their own peculiar challenges. It is good that such an infrastructure gap is being addressed, by providing accommodation for students that would be affordable, well built, and in a secure environment,’’ he said.
The president noted that the Vice President, Prof. Yemi Osinbajo, on his behalf, commissioned the Special Protection Unit, Base 6 Barracks in Omagwa, Rivers State, which was built and donated by the Niger Delta Development Commission to the Nigeria Police Force.
“Firstly, and as stated at that occasion, the complex is part of a crucial component of the major reform we are undertaking with the Nigerian Police Force. While we are working to increase the number of police personnel, within set yearly targets, and re-equip personnel, both in personal gear and hardware, accommodation remains an important feature of that reform. Indeed, it showed that we can alleviate the accommodation challenges of senior security personnel in order to enhance security in the region.
“Secondly, this singular intervention demonstrates that NDDC understands the importance of government’s effort at improving the lives and livelihoods of our police officers, in line with my directive that building of barracks for men and women of the police force should be done in collaboration with the special housing effort of the Family Home funds.’’
In his remarks, Minister of Niger Delta Affairs, Senator Godswill Akpabio, said the completion of the NDDC headquarters complex and other projects clearly showed the president’s commitment to improving the livelihood of people in the Niger Delta.
“President Buhari is focused on development of Nigeria and the Niger Delta.
“The president wants to ensure that by the time he leaves office, the NDDC is repositioned to live up to the expectations of the founding fathers,’’ he added.
The Sole Administrator of NDDC, Mr. Effiong Akwa, thanked the president for always honouring the institution by commissioning three projects in a year.
“The three projects have one thing in common, they were all abandoned before the forensic audit,’’ he added.
The Vice Chancellor of the University of Uyo, Prof. Nyaudoh Ukpabio Ndaeyo, and the student union also appreciated the president for the intervention, with presentation of awards.
Featured
INEC To Unveil New Party Registration Portal As Applications Hit 129

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.
Featured
Tinubu Signs Four Tax Reform Bills Into Law …Says Nigeria Open For Business

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.”
Featured
Senate Issues 10-Day Ultimatum As NNPCL Dodges ?210trn Audit Hearing

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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