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Extractive Firms Underpaid $10bn In Taxes, Royalties -NEITI
The Nigeria Extractive Industries Transparency Initiative (NEITI) has told members of the House of Representatives that part of its findings in the extractive industries showed that some companies operating the sectors underpaid over $10bn in taxes and royalties to the Federal Government.
NEITI disclosed this in a presentation to the lawmakers that detailed some of the impacts of the agency in the oil, gas and solid minerals sectors in Nigeria.
The presentation was delivered by the Deputy Director/Head Communications and Stakeholders Management, NEITI, Obiageli Onuorah, at the agency’s headquarters in Abuja, last Monday.
This came as the House of Representatives vowed to push for the privatisation of Nigeria’s refineries in order to make them more efficient and beneficial to Nigerians.
Although the slide that captured the amount that was underpaid by extractive firms in Nigeria did not state the duration, it pointed out that the $10bn was for under payment and under assessment of taxes and royalty.
Stating the impacts of NEITI during the presentation to the lawmakers, Onuorah said the agency ensured that there was “a specific law on EITI (NEITI Act 2007); ongoing reforms in the extractive sector – NNPCL, mining sector; disclosure of under payment and under assessment of taxes and royalty to the tune of over $10bn; amendment of PSC (Production Sharing Contract) Inland Basin Act;” among others.
NEITI also told the lawmakers, who were at the agency on a courtesy visit, that its policy advisory had identified some priority areas to be tackled by the new administration of President Bola Tinubu.
It said some of them include the “introduction of welfare programmes for the poor and the vulnerable. With the subsidy now gone, NEITI recommends that the government immediately launch a comprehensive welfare programme from the savings from subsidy.”
It added that there should be deliberate policy incentives to encourage private investment in refineries.
“A deliberate policy initiative should be implemented with full presidential backing to encourage Nigerians and foreign investors already awarded licenses to establish private refineries in Nigeria”, the agency stated.
In his response, the leader of the delegation of lawmakers and Chairman, House of Representatives Committee on Petroleum Resources (Downstream), Ikenga Ugochinyere, said the National Assembly would work towards the amendment of the NEITI Act.
This, he said, would empower “NEITI to take disciplinary actions against offenders and also empower NEITI to investigate offences and recommend the prosecution of offenders by relevant investigative and prosecutorial agencies of the Federal Government.”
Ugochinyere also stated that his committee would push for the privatisation of Nigeria’s refineries in coming days.
“Let me also disclose to you one of the things that our committee is going to be championing in days ahead, which is for the privatisation of some of our nation’s refineries.
“You will agree with me that for decades we have been on this refinery issue and we have spent money that if they use it to build new refineries, we would have built like two or three refineries. So it is better that these refineries are privatised to make them more efficient”, he stated.
News
PDP Kicks As APC Wins FCT Council Polls
The Peoples Democratic Party (PDP) has inaugurated a special legal team to handle election petitions arising from last Saturday’s Area Council elections in the Federal Capital Territory.
This comes as the All Progressives Congress (APC) won in Abaji, Kwali, AMAC, and Bwari Area Councils, while the PDP secured victory only in Gwagwalada.
The Tide reports that the council elections were held on Saturday, February 21, 2026, across all six FCT area councils, including Abaji, AMAC, Bwari, Gwagwalada, Kuje, and Kwali.
Results announced so far by the Independent National Electoral Commission (INEC) show that the All Progressives Congress (APC) won in Abaji, Kwali, AMAC, and Bwari Area Councils, while the PDP secured victory only in Gwagwalada.
In a statement issued yesterday by PDP’s National Publicity Secretary, Ini Ememobong, the party congratulated its candidates, who emerged winners in the chairmanship and councilor elections.
The opposition party acknowledged the victories, noting that the number of wins was lower than expected but significant given the alleged irregularities during the polls.
“We specifically congratulate the Chairman-elect of Gwagwalada Area Council, Mohammed Kasim, and the councillors who have been declared successful by the Independent National Electoral Commission (INEC).
“This victory, though less in number than we anticipated, is particularly gladdening because it is against the background of unprecedented intimidation, high-powered money politics, and brazen executive brigandage,” the statement read.
Ememobong claimed that there are reports and video evidence indicating voter intimidation and unlawful conduct that influenced the outcome of the elections.
“Reports and video evidence abound where armed security personnel were used to cart away result sheets in polling units, intimidate voters, and unduly influence the outcome of the elections.”
To address complaints and litigations arising from the polls, he said the party has set up a legal team headed by its National Legal Adviser, Shafi Bara’u, Esq.
The statement urged candidates with legitimate grievances to contact the Legal Adviser promptly, as delays could jeopardise their chances in election petition cases.
“The incredible voter apathy in these polls is a direct response to the anti-people Electoral Act 2026, where the people have completely lost faith in the electoral outcomes from elections conducted under this Act.
“These Local Council polls may just be a foreshadowing of the forthcoming general elections in 2027 if changes are not urgently made,” the statement added.
The PDP called on the National Assembly and the President to take corrective action to safeguard the integrity of Nigeria’s democracy.
News
S’Court Gets New Justice As CJN Swears In Oyewole, Wednesday
The Chief Justice of Nigeria, Kudirat Kekere-Ekun, will on Wednesday swear in Justice Joseph Oyewole as a Justice of the Supreme Court of Nigeria.
The ceremony is scheduled to be held at 2pm at Courtroom Two of the Supreme Court complex in Abuja.
The court urged guests to adhere strictly to the court’s protocols and security measures.
This was contained in a statement issued yesterday by the Supreme Court’s Director of Information and Public Relations, Dr Festus Akande.
The court described Oyewole’s appointment as a step towards reinforcing the capacity of the apex court to deliver fair and timely judgments.
Recall that Oyewole was, until his elevation, a Justice of the Court of Appeal and Presiding Justice of the Enugu Division, and joins the apex court bench as part of ongoing efforts to strengthen the judiciary.
The National Judicial Council recommended Oyewole for the position alongside 35 others for various judicial offices, following its 110th meeting held on January 13, 2026, and presided over by Justice Kekere-Ekun.
The statement partly read, “The Chief Justice of Nigeria, Hon. Justice Kudirat Kekere-Ekun, GCON, will on Wednesday, 25th February, 2026, preside over the swearing-in ceremony of the newly appointed Justice of the Supreme Court, Hon. Justice Joseph Olubunmi Kayode Oyewole, JCA.”
According to the statement, Oyewole served with distinction at the Court of Appeal and as Presiding Justice of the Enugu Division prior to his elevation.
“His appointment underscores the commitment of the Nigerian judiciary to upholding the rule of law, ensuring justice, and strengthening the bench with experienced and dedicated jurists. He brings a wealth of legal expertise and integrity to the apex court to further enhance its capacity to deliver fair and timely judgments,” the statement added.
The apex court further described the swearing-in as “another significant step in rejuvenating the judiciary and ensuring the continued delivery of justice in line with the highest standards of integrity, competence, and impartiality.”
The Supreme Court reiterated its commitment to justice, fairness and judicial independence for the benefit of Nigerians.
News
Fubara Mourns Senator Mpigi
Rivers State Governor, Sir Siminalayi Fubara, has expressed deep shock and sadness over the sudden passage of Senator Barinada Mpigi, the Senator representing South East Senatorial District of Rivers State.
In a tribute to mourn the deceased, Governor Fubara described Mpigi as a brother, a consummate politician and one of the leading lights in Rivers State.
He said that Mpigi died at a critical time when his services were still needed by the people of Rivers State and prayed God Almighty to grant him eternal rest.
The governor commiserated with his immediate family, the Rivers South East Senatorial District and the Senate at large, asking them to take solace in the fact that the deceased lived a good life and impacted positively on the people.
Senator Mpigi died at the age of 64. Until his death, he was the Chairman of the Senate Committee on Works.
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