News
FAAC Uncovers N37.76bn Shortage In NNPC’s Revenue
The monthly Federal Account Allocation Committee (FAAC) meeting, which began yesterday was inconclusive due to discrepancies of about N37.76 billion in revenue presented by the NNPC, as representatives of the 36 states and the Federal Capital Territory, Abuja returned home yesterday disappointed as the Federation Accounts Allocation Committee (FAAC) meeting ended in confusion in Abuja amid disagreements over revenue figures presented by the Nigerian National Petroleum Corporation (NNPC).
The meeting, convened to consider and approve statutory revenue allocations for February, came to an abrupt end on a note almost becoming a familiar refrain for NNPC in recent times.
About an hour after the inconclusive meeting, the finance minister, Kemi Adeosun, announced it would continue on Wednesday morning. She also said she would hold a crucial meeting with the NNPC chief.
Last December, the FAAC meeting was equally stalemated, as members could not reconcile the revenue figures presented by the national oil company, which told a shocked nation at the height of a recent fuel crisis it spends N774 million daily to guarantee steady supply of petroleum products.
With a free pass granted the corporation to deduct as operational cost whatever expenses it incurs from fuel supply before remitting the balance to the Federation Account, close watchers of NNPC operations said Tuesday’s crisis was expected.
During the meeting, representatives of the states, consisting accountants-general and commissioners of finance, said it was their consensus not to approve the allocations to the three tiers of government for the month.
They described the discrepancies in revenue figures presented by the NNPC as a bad omen to workers in the country who may have to go without salary for the month until the issue is resolved.
The Accountant-General of the Federation, Mr Ahmed Idris told newsmen in Abuja, that the meeting was inconclusive because of irregularities in figures presented by the NNPC.
“Obviously, you are all aware that anything that has to do with federation revenue is statutory and, therefore, constitutional and we must always verify our figures to the last kobo.
“Failing to do so will amount to committing illegality and unconstitutionality. “It is on this note that we observe some issues in the figures given by one of the major revenue generating agencies namely the NNPC.
“The committee is of the opinion that until and unless these figures are reconciled, corrected, verified and factual; we cannot distribute the revenue as the case is.
The Accountant-General of the Federation, Ahmed Idris, who confirmed the development to reporters shortly after the meeting, at the headquarters of the Federal Ministry of Finance, Abuja, said a new schedule for the meeting would be communicated on a later date.
Mr Idris said the decision to postpone the meeting followed the discovery of “understated revenue” remitted by the NNPC into the Federation Account.
“We have just retired out of the Federation Accounts Allocation Committee meeting for the month of March where we considered the revenue figures for the federation for the previous month of February.
“Let me again be quick to inform Nigerians that we are sensitive with the issue and to the fact that state governments may find it difficult without this money. “But we have to follow the constitution and the laws for distribution of revenue,’’ he said.
Also, the Chairman, Forum of FAAC Commissioner, Mr Mahmoud Yunusa, said the forum rejected the amount presented by the NNPC because it was far lower than what was projected for the month. He argued that if the NNPC could not surpass what they presented in February, then they should not present anything less than what they presented the previous months.
“We started this meeting last week and NNPC did not submit their figures until yesterday (Monday), which we were not able to review until this morning.
“This morning when we were reviewing the figures as presented by the NNPC, it came as a great surprise to see that the amount was less than N100 billion. “So we (states) decided that we will not collect the amount presented, “We are contesting the figures because pipeline vandalism has reduced, while crude oil prices have continued to go up.
“On this note, we are wondering why the nation cannot raise enough money through that sector to share to states so that everyone can pay workers, contractors and so on. “We are well aware that this development may affect the payment of salaries in states, but we cannot hurriedly accept this money and then later cry foul play. “So, we should all be patient.
But we hope that with this latest development, NNPC will do the needful as soon as possible,’’ he said. Meanwhile, in a document obtained by the our correspondent, the NNPC paid in N74.06 billion into the federation account as oil revenue generated in the month of February, to be shared in March.
“Compared to the collection of N111.84 billion in Jan. 2018, the February collection of N74.06 billion is lower by N37. 76 billion or 33 per cent. “We were unable to meet the approved budget as a result of low collection from Concession Rentals and Petroleum Sharing Contracts (PSC) Royalty.
“We wish to note that the sum of N30.5 million for the Misc Oil revenue and N6.11 million for Gas Flared are on transit at the end of Feb. 2018.
“Furthermore, we received $16. 56 million out of the $85.94 million expected from PSC and MCA lifting for the month under review, therefore leaving $68.65 million as outstanding,’’ NNPC said.
News
Easter: DHQ Orders Troop Alert, Confirms US Support
The Defence Headquarters has placed troops on nationwide alert ahead of the Easter celebrations, assuring Nigerians of tightened security.
The DHQ also reaffirmed that ongoing support from the United States is strengthening counter-terrorism operations, with a visible impact expected in the coming weeks.
Addressing journalists during the end-of-the-month briefing on Tuesday in Abuja, the Director, Defence Media Operations, Maj Gen Michael Onoja, assured citizens of heightened vigilance by troops during the Easter celebrations.
Onoja said the Armed Forces had already placed personnel on alert nationwide to prevent any security breach during the holiday period.
He added that similar measures were implemented during previous festive seasons, including Christmas and Eid-el-Fitr, and would be sustained.
“We know that festive seasons usually have heightened security activities. The military command gives instructions to ensure all personnel are on alert. This time will not be different,” he said.
He emphasised that security agencies would not relax despite the celebrations, noting that adversaries often attempted to exploit such periods.
“I can assure you that we will always be on alert, particularly at this period of festivities, because we know that the threats expect us to relax.
“But we are not going to relax. Everything will be okay for this Easter,” he added.
Speaking on the ongoing collaboration with the US forces, Onoja said the impact of the collaboration may not be immediately visible due to the nature of military engagements, but expressed confidence that the benefits would become evident in the coming weeks and months.
He said the U.S. support to Nigeria’s operations had been significant, particularly in the areas of intelligence sharing and training, noting that the assistance was being provided on favourable terms to strengthen ongoing counter-threat operations.
According to him, “You are aware that they are bringing intelligence and training support to us, which we need. They are giving that to us on very favourable terms. There are lots of things I cannot say because of confidentiality.”
He added that the intelligence being provided included information on the location of threats and hostile elements, stressing that Nigerian troops would act accordingly.
“All we can say is that these things take time. There is a gestation period when we are conducting military operations.
“You will not see it immediately, but in the next few months or weeks, you will feel the difference in the impact of the assistance that the U.S. is providing,” Onoja stated.
On February 16, 2026, DHQ confirmed the arrival of approximately 100 US military personnel and equipment at Bauchi Airfield.
According to the military high command, the personnel, who are not combat troops, were in Nigeria strictly for technical assistance, training, and advisory roles in counter-terrorism efforts.
However, insecurity has continued to surge in several parts of the country since their deployment, raising concerns about the effectiveness of the collaboration.
News
RSG Pledges Support For Youth Initiative …As Youth Dev Advocate Seeks Policies On Transformational Leadership
The Rivers State Ministry of Youth Development has restated the State Government’s commitment towards supporting initiative that will empower youth socially and economically in the State.
Permanent Secretary, Rivers State Ministry of Youth Development, Mrs Ruhoma Kejeh, stated this during the launching of a book titled: ‘A-Z Nuggets of Goal Setting: Discover Winning Ways To Set And Achieve Goals Like a Pro’, in Port Harcourt.
Kejeh said the State Government was committed towards supporting initiative that will empower youth socially and economically in the state.
The Permanent Secretary, represented by the Head of Department, Youth Education and Counseling, Rivers State Ministry of Youth Development, Mrs. Veronica Oborolor, described the book as a practical guide that will serve as a source of inspiration for youths.
According to her, the book is not only timely and commendable, but comes at a time when many youths face uncertainty in life.
In his remarks, the author of the book and a youth development advocate in Rivers State, Mr. Ibeleogute Emmanuel Ibodeng, called for policies that will promote transformational leadership in the country.
He said transformational leadership comes when the right policies are in place, and described the book as his contribution to human capacity development in Nigeria.
“This is my book launch. This will serve as my own contribution to human capacity building in this country,” he said.
Ibodeng added that the book will serve as a coaching template and model for emerging leaders, readers and passionate nation builders to coach themselves into excellence and patriotic citizens.
According to him, reading the book and imbibing its message has the capacity to make one a nation builder as it is tailored towards mind transformation and community development.
“My major target is to see that the leaders who come after this set will have their minds tuned after transformational leadership, and not just the kind of leadership we are used to today,” he said.
Also speaking, the guest speaker, Mrs. Uche Etiaba, said rather than relying on false hope and partisan politics, Nigerian youths should set clear goals and work out ways of achieving them.
Etiaba also described the book as a masterpiece, adding that vision without structure is like a mere dream.
She, however, blamed systemic failure as Nigeria’s major problem, arguing that the nation is experiencing high youth unemployment because the nation’s education system does not align with the job market.
According to her, there must be an alignment across all levels of our national life.
The event attracted people across all works of life.
John Bibor
News
Police Foil Kidnap Attempt, Recover Rifles In Rivers
The Rivers State Commissioner of Police, Olugbenga Adepoju, has reaffirmed the commitment of the Nigeria Police Force to safeguarding lives and property, following a major breakthrough in the fight against kidnapping in the State.
Adepoju said this in a statement by the command’s Police Public Relations Officer, CSP Grace Iringe-Koko which was made available to the Press in Port Harcourt, on Tuesday.
The police boss, in the statement, noted that the recent operation underscores the resolve of the command to intensify intelligence-driven policing and dismantle criminal networks operating within the State.
“Operatives of the Rivers State Police Command recorded the success after foiling an attempted abduction in Port Harcourt, leading to the arrest of a suspected gang member and recovery of arms and ammunition”, it said.
The incident, according to the statement, occurred in the early hours of March 20 when a 35-year-old resident, Fadi Nasser, raised the alarm over an invasion of his residence along Orogbum Crescent, Woji Road, in the Government Reserved Area of the state capital.
According to Police sources, the armed assailants attempted to abduct the victim and opened fire during the attack, creating panic in the neighbourhood.
“The victim, however, managed to escape unhurt, an outcome described by security operatives as both fortunate and instrumental in enabling a swift response by the police”, it said.
Investigations gained momentum after a mobile phone suspected to belong to one of the attackers was recovered at the scene, providing a critical lead for operatives.
Acting on the intelligence, officers of the Special Weapons and Tactics (SWAT) unit based in Aluu deployed technical resources to track the device, which led to the arrest of one Joseph Abibo, identified as a member of the gang.
During interrogation, the suspect, the statement revealed, reportedly confessed and provided useful information that guided operatives to the gang’s hideout within the State.
Police sources also disclosed that upon arrival at the location, the operatives came under heavy gunfire from other members of the gang, prompting a fierce exchange.
The Police team, however, overpowered the criminals, forcing several of them to flee, with about six suspects escaping into a nearby river with gunshot wounds.
The police revealed that a search of the hideout led to the recovery of two AK-47 rifles, four magazines and 108 rounds of live ammunition, while efforts are ongoing to apprehend the fleeing suspects and recover more weapons.
King Onunwor
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