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Rep Raises Alarm Over Depletion Of Excess Crude Account

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Federal lawmaker representing Degema/Bonny Federal Constituency, Hon. Doctor Farah Dagogo has raised alarm over dwindling excess crude account.
He described as “mind boggling” following a statement by the Federal Government that the country’s excess crude account has depleted from $2.1billion in 2015 to $60million 2021.
The lawmaker wondered the justification on how such huge amount of money was expended while the masses in the country, especially the Niger Delta region where the revenue comes in from, are in such a perilous state.
It would be recalled that, last Friday, the Minister of State for Budget and National Planning, Clem Agba, gave the update during the National Economic Council (NEC) meeting at the State House in Abuja.
According to a statement by the spokesperson to Vice President Yemi Osinbajo, Laolu Akande, the minister was quoted as saying: “Excess Crude Account (ECA) balance as at October 13, 2021 stands at $60, 857,773.43; Stabilisation Account, balance as at October 13, stands at N25,009,892,511.55; Development of Natural Resources Account balance as at October 13, 2021 stands at N56,144,024,000.71.”
Responding to the development in Abuja, at the weekend, Dagogo said the depletion of the funds without anything tangible to show is ‘unacceptable and abhorrent to people of good conscience’.
He said, “Today in Nigeria, the cost of living has risen astronomically. We were in paradise in 2015, if we were to make a comparative analysis of what was applicable then and now as to what majority of the masses are facing and passing through daily. To feed a day in Nigeria is akin to the camel passing through the eyes of a needle. Yet, we hear mind boggling depletion of our common wealth with nothing tangible to show for it.
“For clarity, the purpose of the Excess Crude Account that was set up in 2004, which later metamorphosed to Sovereign Wealth Fund in 2011, has been clearly defeated. Has it three cardinal objectives; of supporting the budget in times of economic stress, including to hedge against volatile crude oil prices; to save for future generations of Nigerians; to invest in domestic infrastructure; being met?
“The answer is a capital NO and unacceptable to the people of my region, who semantically speaking are the goose that laid the golden eggs that is being pilfered unhindered. I strongly believe that this daylight stealing and mismanagement should be a grave concern and abhorrent to people of good conscience,” Dagogo said.

By: Kevin Nengia

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Fubara Seeks Full Resolution Of Bille Gas Leakage …Pledges Upgrade Of Community  Health Centre

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Rivers State Governor, Sir Siminalayi Fubara, has demanded quick and full resolution to the challenges arising from the gas leakage that occurred in Bille, Degema Local Government Area  of the State.

The governor has also pledged to upgrade the Primary Healthcare  Centre (PHC) in Bille with a view to addressing the  health challenges confronting  the community.

Fubara made the pledge on Wednesday at the Government House, Port Harcourt during an enlarged meeting of key stakeholders, comprising representatives of the Federal Government, the state government  and leaders of the community.

The meeting was held to review the situation in the community and explore available opportunities to save the people from the adverse impacts of environmental pollution.

Addressing the journalists at the end of the meeting, the governor acknowledged the determination of the Federal Government and its agencies to get to the root cause of the problem in Bille and  ensure that it is resolved permanently.

“The meeting is in respect of the situation in Bille. You’re aware that there is a case of gas leakage somewhere in Bille and the people have been making some requests that the government should come to their rescue to resolve the situation.

“As a state, we have gone to see the situation in the community, not alone but in conjunction with the industry operators and officials of  the Federal Ministry of Petroleum Resources. What we are doing today is an enlarged meeting where all the parties are sitting together to look at the cause of the issue and the most possible way to get the problem resolved,” he said.

Fubara described the outcome of the meeting as successful, stressing that more action would be taken in the next couple of weeks to ensure that the issue is fully resolved.

The Minister of State, Petroleum Resources (Gas), Hon Ekperikpe Ekpo, who led the Federal Government’s delegation to the meeting, expressed appreciation to the governor for his warm hospitality and efforts to address the challenge in Bille community.

Ekpo explained that contrary to the perception in certain quarters, the Federal Government has not been silent over the “gas seepage” but has been working tirelessly towards finding a sustainable solution.

The minister explained that as soon as the incident was reported, the Federal Government deployed experts to the area to understudy the cause of the problem.

According to him, it was difficult at first to understand the cause of the problem since there were no oil or gas infrastructure within the vicinity of the incident, hence the need to conduct a more detailed investigation.

“The investigation is still going but we decided to do a follow-up visit to the area to talk to the people of Bille Community that we need collaboration on their part so that we would be able to arrive at a lasting solution.

“The safety of the people is paramount. We can understand their anxiety,  the worry and the danger that this thing poses within the area, but the Federal Government is committed to  finding a lasting solution to the problem. The primary responsibility of government is to take care of the welfare and security of the people and that is exactly why we are here to go and see things for ourselves,” he said.

The Chief Executive Officer (CEO), Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mrs Oritsemeyiwa Eyesan, also explained that as  the regulatory agency  at the centre of the issue, no effort will be spared in the task of resolving the issue.

Eyesan pledged that the NUPRC and operators in the industry were prepared to address the requests of the impacted  people in terms of the provision of potable water and fire trucks  to  the community.

The Public Relations Officer, Council of Chiefs, Bille Kingdom, Chief Rena Dappa, had during the meeting, presented the  challenges facing the community and pleaded for government’s support to save the lives and livelihoods of the people.

 

 

 

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Tinubu Unveils Training Programme For 5,000 Metre Installers

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President Bola Tinubu has announced the launch of a training programme for 5,000 young Nigerians as meter installers and technicians under the Presidential Metering Initiative.

The President stated that the scheme is aimed at creating jobs, closing the country’s metering gap and improving electricity supply.

The President disclosed this in a statement on his verified X handle yesterday, describing the initiative, tagged “The Power Force,” as part of his administration’s Renewed Hope Agenda to expand employment opportunities for young people.

According to Tinubu, the programme will equip participants with practical technical skills and connect them to employment opportunities in Nigeria’s power sector.

“Through the Presidential Metering Initiative (PMI), which I established to close Nigeria’s metering gap, end estimated billing, protect consumers and strengthen the electricity market, we are opening a new pathway for 5,000 young Nigerians to be trained as meter installers and technicians under The Power Force. This programme is about jobs, skills and dignity,” he said.

Tinubu said the training would be open to eligible Nigerians who have completed their secondary school education, with a dedicated quota reserved for members of the National Youth Service Corps.

He noted that expanding electricity metering was critical to improving service delivery and promoting transparency in the power sector.

“When homes and businesses are properly metered, Nigerians can pay for what they actually use. When electricity distribution companies collect revenues more transparently and fairly, they are better able to reduce losses, maintain infrastructure, expand connections and invest in better service.

“This is how we build a power sector that is fairer to consumers, stronger for investors and better able to deliver reliable electricity to the Nigerian people,” the President said.

Tinubu said he had directed the Presidential Metering Initiative to work with the Federal Ministry of Youth Development, the National Power Training Institute of Nigeria, and other relevant stakeholders to commence the programme within the next 30 days.

He encouraged qualified young Nigerians to apply, saying the initiative would provide them with marketable skills while supporting efforts to eliminate estimated billing and improve electricity access nationwide.

“I encourage eligible young Nigerians to apply. Join The Power Force. Learn a skill. Earn with dignity. Help us end estimated billing and be part of the work to light up Nigeria,” he added.

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Xenophobia: Third Evacuation Flight From S’Africa Arrives Today -FG

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The Federal Government has announced that the third evacuation flight for Nigerians voluntarily returning from South Africa will arrive Lagos today having departed Johannesburg at midnight yesterday with 271 returnees on board.

The Ministry of Foreign Affairs disclosed this in a statement issued yesterday by its spokesperson, Mr Kimiebi Imomotimi Ebienfa.

According to the ministry, the Air Peace-operated flight is expected to arrive at the Murtala Muhammed International Airport, Lagos, at about 5:30 a.m. on Friday, July 3, 2026.

It said the evacuation is part of the Federal Government’s ongoing efforts to facilitate the voluntary return of Nigerians from South Africa.

“The third evacuation flight operated by Air Peace will depart Johannesburg today by 12 midnight with 271 returnees. The estimated time of arrival in Lagos is 5:30 a.m. on Friday, July 3, 2026,” the statement read.

The latest batch of returnees follows earlier evacuation flights that brought hundreds of Nigerians back to the country under the Federal Government’s voluntary repatriation programme.

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