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Probe Missing $15bn, N200bn Oil Revenues, SERAP Tells Tinubu

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The Socio-Economic Rights and Accountability Project (SERAP) has urged President Bola Tinubu to set up a presidential panel of enquiry to promptly probe the grim allegations that over US$15 billion of oil revenues, and N200 billion budgeted to repair the refineries are missing and unaccounted for between 2020 and 2021, as documented by the Nigeria Extractive Industries Transparency Initiative (NEITI).
SERAP urged the President to “name and shame anyone suspected to be responsible for the missing and unaccounted for public funds and to ensure their effective prosecution as well as the full recovery of any proceeds of crime.”
SERAP also urged Tinubu “to fully implement all the recommendations by NEITI in its 2021 report, and to use any recovered proceeds of crime.”
In the letter dated 23 September 2023 and signed by SERAP deputy director Kolawole Oluwadare, the organisation said there was a legitimate public interest in ensuring justice and accountability for these serious allegations, adding that taking these important measures would end the impunity of perpetrators.
SERAP said, “As President and Minister of Petroleum Resources, your office ought to be concerned about these damning revelations, by getting to the bottom of the allegations and ensuring that suspected perpetrators are promptly brought to justice, and any missing public funds fully recovered.”
The letter read in part: “Any failure to investigate these grave allegations, bring suspected perpetrators to justice and recover any missing public funds would have serious resource allocation and exacerbate the country’s debt burden.
“It would also create cynicism, suspicion, and eventually citizens’ distrust about the ability of your government to combat high-level official corruption, as well as deter foreign investment and limit growth and development.
“We would therefore be grateful if the recommended measures are taken within seven days of the receipt and/or publication of this letter. If we have not heard from you by then, SERAP shall consider appropriate legal actions to compel your government to comply with our request in the public interest.
“The findings by NEITI suggest a grave violation of the public trust and the provisions of the Nigerian Constitution 1999 [as amended], national anticorruption laws, and the country’s obligations under the UN Convention against Corruption.
“The allegations of corruption documented by NEITI undermine economic development of the country, trap the majority of Nigerians in poverty and deprive them of opportunities.
“Your government has a constitutional duty to ensure transparency and accountability in the spending of the country’s wealth and resources.
“According to the 2021 report by the Nigeria Extractive Industries Transparency Initiative (NEITI), government agencies including the Nigerian Petroleum Development Company (NNPC) and the Nigerian Upstream Petroleum Regulatory Commission (NPDC) failed to remit $13.591 million and $8.251 billion to the public treasury.
“The NNPC and NPDC failed to remit over 70% of these public funds. NEITI wants both the NNPC and NPDC to be investigated, and for the missing public funds to be fully recovered.
“The report also shows that in 2021, the State Owned Enterprises (SOE) and its subsidiaries (the NNPC Group) reportedly spent US$6.931billion on behalf of the Federal Government but without appropriation by the National Assembly. The money may be missing.
“The NNPC also reportedly obtained a loan of $3 billion in 2012 purportedly to settle subsidy payments due to petroleum product marketers but there is no disclosure of the details of the loan, subsidy and the beneficiaries of the payments.
“The report also shows that N9.73 billion was paid to the NNPC as pipeline transportation revenue earned from Joint Venture operations but the money was neither remitted to the Federation nor properly accounted for. The NPDC in 2021 also failed to remit $7.61 million realized from the sale of crude oil.
“The report documents that about N200 billion was spent on refineries rehabilitation between 2020 and 2021 but “none of the refineries was operational in 2021 despite the spending.’ NEITI wants the spending to be investigated, as the money may be missing.
“Section 13 of the Nigerian Constitution 1999 [as amended] imposes clear responsibility on your government to conform to, observe and apply the provisions of Chapter 2 of the constitution. Section 15(5) imposes the responsibility on your government to ‘abolish all corrupt practices and abuse of power’ in the country.
“Under Section 16(1) of the Constitution, your government has a responsibility to ‘secure the maximum welfare, freedom and happiness of every citizen on the basis of social justice and equality of status and opportunity.
“Section 16(2) further provides that, ‘the material resources of the nation are harnessed and distributed as best as possible to serve the common good.
“Similarly, articles 5 and 9 of the UN Convention against Corruption also impose legal obligations on your government to ensure proper management of public affairs and public funds, and to promote sound and transparent administration of public affairs.
“The UN Convention against Corruption and the African Union Convention on Preventing and Combating Corruption to which Nigeria is a state party obligate your government to effectively prevent and investigate the plundering of the country’s wealth and natural resources and hold public officials and non-state actors to account for any violations.
“Specifically, article 26 of the UN convention requires your government to ensure ‘effective, proportionate and dissuasive sanctions’ including criminal and non-criminal sanctions, in cases of grand corruption.
“Article 26 complements the more general requirement of article 30, paragraph 1, that sanctions must take into account the gravity of the corruption allegations.
“Nigeria is also a participating state of the Extractive Industries Transparency Initiative (EITI), which aims to foster greater governmental accountability for the use of natural resource wealth through the creation of a set of international norms on revenue transparency.
“EITI also aims to tackle corruption, poverty and conflict associated with natural resource wealth. Nigeria has the obligations to implement the EITI Standard, which sets out the transparency norms with which participating States including Nigeria must comply.

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We’ve Only One House Of Assembly Led By Oko-Jumbo, Fubara Clarifies …Signs Into Law N1.188trn Rivers 2025 Budget

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Rivers State Governor, Sir Siminalayi Fubara, has insisted that there is only one House of Assembly existing in the State, and it is led by Rt Hon. Victor Oko-Jumbo.

 

Governor Fubara made the clarification shortly after giving assent to the Rivers State Appropriation Law No.1 of 2025, at Government House in Port Harcourt.

 

The Governor said the records need to be put straight to address insinuations in some quarters about a possible splitter in the Legislature, and stated that there is no such division.

 

Governor Fubara stated: “I want to say this, maybe, for some persons somewhere who are still mixing up issues. We have only one Rivers State House of Assembly, and that Assembly is headed by Rt Hon Victor Oko-Jumbo”.

 

He described those who abdicated their mandate in the House as a group of friends who had embarked on Sinbad journey, and half-way into the journey, they decided to return, saying, “It is too late. We are not going back. As far as I am concerned, we have moved on.”

 

Governor Fubara said that as it stands now, the focus of his administration is to do everything possible in defending the interest of Rivers State and the integrity of governance, and assured that with the 2025 budget now signed, every projection made in it will be addressed to deliver hope and good life to all residents in the State.

 

He said, “We will make sure that we kick-start, so that the record of performance that was accorded by this administration in the year 2024 will be higher in this year, 2025.

 

“Let me first thank the Rivers State House of Assembly for doing very diligent job, and also realizing the task that we have ahead of us, which is to continue to work for Rivers people. So, I want to thank you for working very hard and ensuring that we hit the ground running in this New Year.”

 

Governor Fubara also commended members of the State Executive Council, which he described as the management team, especially the Deputy Governor, for their support and cooperation, and particularly thanked the Commissioners for Finance, and Budget, as well as the Acting Chairman of Rivers State Internal Revenue Board, for the wonderful job they did last year.

 

He noted, “We expect you to do more because we have a bigger task ahead of us. We have made some promises to our people. Education, Health and Agriculture; we must make sure we make good impact just like we have done in the areas of road and other aspects of the economy. We made a promise to you (Rivers people) that we will continue to protect, defend and promote the interest of our dear State.”

 

In his speech, Speaker of Rivers State House of Assembly, Rt Hon Victor Oko-Jumbo, asserted that Rivers people witnessed unprecedented growth in the State made possible by the administration of Governor Fubara in infrastructure development, healthcare delivery, education, social welfare, security and other sectors.

 

Rt Hon Oko-Jumbo pointed to how Governor Fubara has become the beacon of hope of the common man on the streets, because, according to him, they are happy with the positive impact his leadership style has afforded them.

 

The Speaker explained that Governor Fubara has paid Rivers civil servants and pensioners N100,000.00 Christmas Bonus, being the second time; and approved and paid  N85,000.00 minimum wage (salary) to civil servants, which have stood him out as a leader that prioritises the well-being of the people.

 

He said, “Your Excellency, 2025 promises to be a year of strategic planning and partnership. We have no doubt that you will carry out the task of developing and delivering the dividends of democracy to every nook and cranny of Rivers State. So, Your Excellency, on behalf of the 10th Rivers State House of Assembly, we want to say thank you for being the People’s Governor, and thank you for the strategic partnership with the Legislature. Your Excellency, 2025 promises to be a year of exponential growth in Rivers State.”

 

Presenting the 2025 Budget to Governor Fubara for assent, Leader of the House, Hon Sokari Goodboy Sokari, said the total projected estimate of N1,188,962,739,932.36 for the 2025 fiscal year indicated a huge leap from previous year’s figure, indicating progress and assuring multiplication of comfort that good leadership can provide.

 

Hon Sokari also noted the strategic allocations for Recurrent and Capital expenditures that provide for the welfare of workers and retirees, more development projects, as well as savings that will be made from accruing revenues.

 

 

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Tinubu calls for increased currency swap between China, Nigeria

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President Bola Tinubu yesterday urged the Chinese government to increase the two billion dollar currency swap between Nigeria and China to enhance trade between the two countries.

He also called for an upward review of the 50 billion dollar aid package for Africa, which China’s President Xi Jinping announced last year.

China and Nigeria recently renewed their currency swap agreement, valued at 15 billion yuan (approximately 2 billion dollars), to enhance trade and investment.

Receiving Wang Yi, the Minister of Foreign Affairs of China, at the State House, the President said increasing the level of currency swaps would speed up the infrastructural development in Nigeria and deepen the strategic bilateral relations.

“We still demand more in the area of currency swap. The level you have approved as a government for Nigeria is inadequate considering our programme. If you can increase that, it will be well appreciated.

“Our bond should grow stronger and become unbreakable,” the President said.

Regarding the 50 billion dollars pledged by the Chinese government to support Africa, President Tinubu noted that the continent’s infrastructural needs would require more commitment, urging a review of the amount to reflect the continent’s reality.

“I am happy you are part of China’s highest decision-making body. We will want you to use your position to influence improved project funding.

“First, I say yes to the 50 billion dollar support, and thank you for contributing to African growth. The infrastructural needs of Africa are greater than that, and we want to move as rapidly as our other counterparts.

“All share your vision of rapid development. Africa values the relationship with China, and we seek deeper collaboration for infrastructural development,” he stated.

President Tinubu called on China to support Nigeria’s bid for a permanent United Nations Security Council seat.

“You are a member of the UN Security Council. We want you to use your influence to ensure Nigeria secures the seat,” the President said.

Tinubu said Africa, particularly Nigeria, was prepared to meet developmental goals and contribute counterpart project funding.

“We are ready to move and reach the various developmental goals. Due to our deliberation, we signed many MOUs and planned many action programmes.

“My visit during FOCAC was a good experience. We signed several comprehensive MOUs during the visit. We planned several programmes of action,” he said.

Yi thanked Tinubu for appointing a Director General and Global Liaison, Nigeria—China Strategic Partnership, to oversee the implementation of the MOUs for the rapid development of the Nigerian economy.

“I would like to thank Nigeria for abiding by the one-China principle, and we will continue to support Nigeria in achieving the Renewed Hope Agenda, countering terrorism and ensuring regional security,” he said.

Yi said Chinese investments in the country would focus on employment generation and infrastructural development.

He said the Chinese National Development Bank had started funding some development projects.

He also said the Chinese government would support including an African country in the UN Security Council.

“We stand with Africa, and we will not support a country that invades another country,” he stated.

The foreign minister said China would welcome Nigeria’s membership in the BRICS and participation in the global development mechanism.

He said China fully supported Dr Ngozi Okonjo-Iweala, the Director General of the World Trade Organisation (WTO), for a second term in office.

The minister lauded President Tinubu for his visionary leadership and consistency in projecting Africa’s needs, which require China’s support.

“You brought Renewed Hope to the people of Nigeria. Your economy has sustained sound momentum, and Nigeria’s global influence has steadily increased.

“Nigeria has played an important role in upholding regional peace and has become an important force for African stability.

“We congratulate Nigeria on its achievements and believe that, under your leadership, Nigeria will realise greater achievements,” the Chinese foreign minister stated.

 

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FG urges unified efforts against emerging COVID-19 threats

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The Federal Government has called for unified efforts by stakeholders to tackle the emerging COVID-19 variants in the country.

Prof. Muhammed Ali Pate, the Coordinating Minister of Health and Social Development, made the call in Abuja on Thursday, at a strategic meeting on COVID-19 preparedness and response.

The meeting was organised by the National Emergency Management Agency (NEMA), following the recent emergence of a new COVID-19 variant in China and subsequent international concerns about the spread of the deadly virus.

The Tide source reports that NEMA conveyed the strategic stakeholders meeting to discuss preparedness, response plans, and proactive measures within Nigeria’s national context against the virus.

The minister, represented by a Director in Public Health Department at the Ministry, Mrs Chidinma Agbai, highlighted the devastating global impact of the pandemic and Nigeria’s resilience in spite of initial dire predictions.

He warned against misinformation and urged collaboration among stakeholders, including health officials and the media, to strengthen border controls and revive pandemic response infrastructure.

“A couple of months, the global world became affected one way or the other. you saw the number of people that were lost. They were counted in millions, people that were lost through COVID-19.

“You also saw the countermeasures that were taken by various countries. And surprisingly, those of us in Africa and Nigeria in particular, were expected to count our dead in millions. But God being our helper, It did not consume so much.

“But one life is a serious loss to a nation. So many Nigerians lost their lives, not really because of COVID-19, but because of countermeasures,” he said.

According to him, during the last COVID-19 and Ebola, people were told to take salt. Some people were told to take potash. So many countermeasures were introduced, and a lot of people lost their lives.

“So, now again in this harmattan period, we have to be careful because  COVID-19 started in the harmattan period too, in the past years, it has reared its head again in China.

“This time around, it’s a mutant type that has come up. And China, being what it is, is keeping quiet. They don’t want to raise alarm as to what they are experiencing.

“They’ve closed their doors to various appeals for them to speak up.

“So for us in Nigeria, we have to put deliberate efforts to ensure that those who are coming into Nigeria, or those who are leaving the country, are protected,” he said.

He emphasised the importance of agencies such as the Nigerian Immigration Service (NIS) and others in ensuring that the country’s borders were under surveillance.

He urged that similar measure taken to curtail Ebola some years back should be applied at the airports, the land borders and the sea ports to secure the lives of Nigerians.

The minister also called for renewed efforts in vaccine development and public education to prevent panic and safeguard lives.

The Director-General of NEMA, Mrs Zubaida Umar, in her remarks called for proactive planning, collaboration, and resource mobilisation to safeguard the country’s public health emergencies.

Umar, who was represented by the Director, Planning Research and Forecasting, Mr Onimode Bandele, said that the meeting was crucial amid global concerns.

The director-general stressed the importance of information sharing, transparency, and a unified approach in addressing the challenge.

“The recent COVID-19 situation emerging from China serves as a stark reminder that public health emergency recognises no borders.

“In today’s interconnected world, a health threat in one country has the potential to impact nations across continents.

“While Nigeria is not directly affected at the moment, proactive planning, preparedness, and collaboration are essential to safeguarding our citizens and mitigating any potential risk.

“In line with this mandate, NEMA aims to be number one to share insight and update on the current global COVID-19 situation and its potential implication for Nigeria,” she said.

Umar also reaffirmed NEMA’s commitment to effective disaster management and urged unified efforts to maintain Nigeria’s resilience against global health threats.

On his part, Mr Hopewell Munyari, Operations Manager, International Federation of Red cross, urged Nigerians to learn from the COVID-19 response to improve future emergency efforts.

Munyari underscored the Nigerian Red Cross’s role as an auxiliary to government, actively working on responses like Lassa fever and mFox outbreaks.

He also called for leveraging global Red Cross networks and volunteers to enhance preparedness and ensure timely, reliable communication with communities.

 

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