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FAAC Uncovers N37.76bn Shortage In NNPC’s Revenue

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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.

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Rivers Govt Hails Anglican Church’s Role In Peace, Development

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The Rivers State Government has commended the Church of Nigeria (Anglican Communion) for its outstanding contributions to the development of Rivers State, particularly in the areas of peacebuilding, education, healthcare, and moral development.
Governor of Rivers State, Siminalayi Fubara, stated that the Church has remained a dependable partner in promoting peace, unity, justice, moral discipline, and social harmony across society.
The Governor, who was represented by the Secretary to the State Government, Dr. Dagogo Wokoma, made the remarks during the thanksgiving service marking the 30th Anniversary and First Session of the 11th Synod of the Diocese of Niger Delta North, held at St. Peter’s Anglican Church on Sunday.
Governor Fubara described the Synod’s theme, “Kingdom Advancement: The Priority of Every Believer,” as timely and relevant, considering the prevailing realities in society.
According to him, the Church continues to play a vital role in shaping societal values and inspiring hope among citizens.
“The Church remains a vital partner in promoting peace, unity, justice, and moral discipline. Its role in shaping values and inspiring hope cannot be overemphasized,” he stated.
The Governor further acknowledged the Anglican Communion’s contributions in education, healthcare delivery, youth empowerment, humanitarian services, and spiritual guidance across communities in Rivers State.
“The Rivers State Government appreciates the invaluable contributions of the Anglican Communion in education, healthcare, youth development, humanitarian support, and spiritual guidance. Your impact across communities in Rivers State continues to strengthen families and promote peaceful coexistence among our people,” he added.
Governor Fubara reaffirmed his administration’s commitment to building a peaceful, united, and prosperous Rivers State where all citizens can thrive irrespective of religion, ethnicity, or social background.
He also urged the Synod to continue praying for sustainable development and progress in Rivers State and Nigeria at large.
Earlier in his sermon, the Guest Minister, Joseph Olushola, spoke on the topic, “Kingdom Investment and Internal Rewards,” urging Christians to remain faithful stewards of God’s blessings and committed to advancing God’s kingdom through service and generosity.
The cleric emphasized that believers are custodians of the virtues and resources entrusted to them by God, stressing that divine rewards are based on faithfulness and impact rather than material possessions.

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Shell, MAN Back Rivers’ Drive For Expanded Gas Supply To Industries

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The Shell Nigeria Gas Limited, in partnership with the Manufacturers Association of Nigeria (MAN), has reaffirmed support for efforts to expand gas distribution infrastructure in Rivers State as part of initiatives aimed at improving access to affordable, cleaner and more reliable energy for industries across the South-South region.
The commitment was highlighted during the SNG–MAN Business Forum held in Port Harcourt, where stakeholders from the industrial and public sectors examined the role of natural gas in driving industrialisation, boosting local production and strengthening energy security.
Speaking at the forum on behalf of the Managing Director of Shell Nigeria Gas Limited, the company’s Head of Gas Distribution, Mr. Chukwuka Amos Ejesi, described natural gas as a critical component of Nigeria’s energy mix and a key driver of sustainable industrial growth.
According to him, Nigeria’s gas development agenda has reached a stage where policy direction must be matched with practical implementation capable of addressing the energy challenges confronting manufacturers.
He noted that pipeline gas offers industries a cleaner, more dependable and cost-effective energy alternative capable of supporting uninterrupted operations, reducing emissions and improving production efficiency.
“Gas is the backbone of manufacturing, and we are encouraged by the growing recognition among stakeholders of the need for cleaner and more reliable energy solutions,” he said.
Ejesi stressed the need for sustained collaboration among energy providers, government institutions and industrial stakeholders to maximise the country’s gas resources for economic development.
He added that improved gas infrastructure would strengthen manufacturing value chains, enhance productivity and promote more competitive industrial operations across Rivers State and the wider South-South region.
Participants at the forum also emphasised the importance of expanding energy infrastructure as a pathway to unlocking industrial capacity, reducing operating costs and promoting sustainable industrial development.
Representing Governor Siminalayi Fubara, the Director-General of the Rivers State Investment Promotion Agency, Dr. Chamberlain Peterside, reaffirmed the state government’s commitment to partnering with private sector investors to revitalise industrial activities in the state.
He identified key projects targeted under the initiative to include the revival of the Ahoada Industrial Park, the New Port City project and the proposed Bonny Industrial Park, all aimed at stimulating economic growth and expanding industrial opportunities along the Bonny corridor.
According to the governor, the long-term vision is to position Rivers State as a leading manufacturing hub in Southern Nigeria through strategic public-private partnerships.
Governor Fubara also commended Shell Nigeria Gas and MAN for sustaining engagements geared towards improving industrial energy access, noting that gas infrastructure development remains central to the state’s economic recovery plans.
He further observed that the gas sector presents enormous opportunities for economic growth, especially as global energy systems continue to shift towards cleaner energy sources.
The governor called on stakeholders to work collectively towards developing a practical and sustainable gas framework capable of supporting the state’s industrial and energy development objectives.

By; Kevin Nengia

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Odu Charges Newlyweds To Build Marriage On Love

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Rivers State Deputy Governor, Prof. Ngozi Nma Odu, has charged newlywed couples to build their marriages on the virtues of love and submission as taught in the Word of God.
Prof. Odu gave the charge at the wedding ceremony of Amblessed Favour Sunny-Cookey and Samson Jesuganji at Lifegate Power Ministries, Dominion Cathedral, in Port Harcourt on Saturday, 16th May 2026.
The Deputy Governor congratulated the couple on beginning a new phase of life together and prayed for God’s blessings upon their union, noting that the couple had been raised by godly parents and encouraged them to uphold the Christian values instilled in them.
Referring to the sermon delivered during the ceremony, Prof. Odu emphasized that the principles of love and submission remain fundamental to a successful marriage.
According to her, genuine love reflects the nature of God, stressing that love should remain the foundation of the couple’s relationship as they journey through life together.
Prof. Odu further prayed for enduring peace, happiness, and progress in the home, expressing confidence that the marriage would continue to flourish under God’s guidance.
The Deputy Governor also commended the families of the couple for their support and upbringing, while urging the newlyweds to always remember the significance of the day and the commitment they had made before God and witnesses.
In his sermon at the wedding, the Founder and Presiding Pastor of Salvation Ministries, Pastor David Ibiyeomie, stated that marriage did not originate from Western culture, traditions, or human ideas, but from God, whom he described as the “manufacturer” of marriage.
According to the cleric, couples seeking lasting and peaceful homes must rely on biblical principles rather than societal trends or assumptions.
He explained that many marital crises and rising divorce rates stem from ignorance and failure to apply scriptural teachings in family life.
Drawing from the biblical parable of building a house on a rock, Pastor Ibiyeomie said the Word of God remains the only solid foundation capable of sustaining marriages through challenges and difficult times.
He noted that marriage naturally comes with unexpected realities and pressures, stressing that religious ceremonies or cultural practices alone are not enough to sustain a home without proper understanding of God’s instructions.
The pastor further warned that ignorance of scripture remains one of the greatest weapons against believers, urging Christians to study and practice the Word of God rather than merely attending church services.
It would be recalled that the bride is the daughter of Pastor Sunny Cookey the Founder and Presiding Pastor of Lifegate Ministries. The Ceremony had lots of Ministers in attendance which includes Apostle Zilly Aggrey, Pastor George Izunwa, and Bishop Winston Iwo

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