Business & Economy
Technical Audit On Ajaokuta Steel Firm, Starts February, Says Minister …as National Assembly Asks Ministry To Return N2bn To Agencies
The Minister of Steel Development, Mr. Shuaibu Abubakar Audu, yesterday assured the nation that the technical audit on the Ajaokuta Steel Company Limited will start in February.
The technical audit would pave the way for the rehabilitation, completion and operation of the steel plant and the National Iron Ore Mining Company (NIOMCO) in Kogi State, Nigeria.
The Minister gave the assurance when he appeared the National Assembly Joint Committee on Steel Development to defend his ministry’s 2024 budget expenditure and the 2025 Appropriation.
The Federal Government signed the Memorandum of Understanding (MoU) with the original builders of the Ajaokuta Steel Plant Messrs, Tyazhpromexport (TPE) and members of their consortium Messrs Novostal M and Proforce Manufacturing Limited to carry out the technical audit since September last year.
A member of the joint panel, who is the senator representing the Kogi Central Senatorial District, where the project is situated, Natasha Akpoti-Uduaghan, asked the Minister to give a definite date for the commencement of the technical audit.
Akpoti-Uduaghan said, “Hon Minister Can I ask a question, please? When was the MOU entered into? Which month? Can you tell us the month that the MOU on Ajaokuta was entered? “
The Minister responded by telling the panel that the document was signed in September last year.
Akpoti-Uduaghan then wondered why the Ministry hasn’t done anything four months after the MOU was duly signed.
She said, “We are now approaching the end of January. When will the technical audit start? When will it start? Because to me, I believe we should tackle that project wholesomely. Yeah. We need to start with a technical audit so that the buildup of repairs will commence immediately.
“Can you tell us when we would expect the Russians with their partners to commence the technical audit because time is going.”
Replying the Minister said, “I had a conversation with the Permanent Secretary this morning Wednesday) on the commencement date.”
He then directed the Permanent Secretary, Dr. Chris Osa-Isokpunwu to address the panel on the commencement of the technical audit.
Osa-Isokpunwu said, “Immediately after the signing of the Memorandum of Understanding, the Ministry commenced the procurement process for the technical and financial audit.
“Advertisements were made, time was given. The stage we are now is preparation to present it to the Federal Executive Council for approval.
“Once that presentation is made and the Federal Executive Council approves that project, then the technical audit will start.”
Not satisfied with the Permanent Secretary’s submission, Akpoti-Uduaghan interjected and demanded a definite date of commencement.
She said, “The Federal Executive Council sits every week. Are you guaranteeing Nigerians that at the next Federal Executive Council, the technical audit proposal will be approved?”
The Permanent Secretary replied, “What I would say at this point is that as soon as we get the ‘no objection’ to proceed to the Federal Executive Council by the Bureau of Public Procurement, we will take the memo to the Federal Executive Council.
“That will be based on the availability of slot for the presentation of memos at FEC. I do not run the Secretariat of FEC.
“However, once the Bureau of Public Procurement issues us the certificate of no objection, within 48 hours after, the Honourable Minister will transmit the memo to the Secretariat of FEC.”
Akpoti-Uduaghan asked him when the BPP would send the ‘no objection’ to the Ministry and the Permanent Secretary said only the Director General of the BPE, Ayodeji Ariyo Gbeleyi, could answer the question.
Still not satisfied with the answer to her question, Akpoti-Uduaghan said, “How long have you been expecting that no objection from BPP?”
“I need to know the timeline. How long has it been? Did you just submit the proposal last week? Or last month? Or two months ago? We need to know. Maybe it’s BPP we are going to hold responsible for delay of process.”
Osa-Isokpunwu said, “I’m not familiar with the processes of the Bureau of Public Procurement. We submitted our request for ‘no objection’ about two months ago. So Chairman, I don’t know if I can help you.”
The submission of the Permanent Secretary infuriated members of the joint committee and accused him of being lackadaisical with his approach to the whole issue.
The Minister quickly came to the rescue of the Permanent Secretary by accepting that the Ministry has been too slow on the matter.
Audu said, “Mr. Chairman and distinguished members, I think the feedback from the joint committee is loud and clear. The speed at which we are going through the process of getting a ‘no objection’ from BPP is too slow.
“I think that is the message that I’m hearing from the committee members. The feedback has been heard very loud and clear. I can assure you that I’ll continue to put the permanent secretary under a lot of pressure for us to get out the ‘no objection’.
“Perhaps, the methods and the way we’ve been following up is inadequate. We are going to put more gas to the pedal to ensure that the ‘no objection’ comes out.
“This is because it’s very, very important to Nigerians for the technical audit to start, particularly with the original builders and their Nigerian representatives.
“We have a lot more work to do in that regard. The Perm Sec has heard, directors of the ministries have heard very loud and clear that the joint committee on steel is unhappy with the pace at which we are processing the ‘no objection’ from BPP. So I want to appeal to your further patience.
“In the next few days, I can assure you that we’re going to ramp up efforts to at least get out the ‘no objection’. Today is 22nd of January. I believe before the end of the month we will get it.
“I’ll do everything humanly possible to ensure that it comes out so that we can get these things going. So I want to assure you that I’ll put the ministry under pressure. I’ll continue to put the Permanent Secretary under pressure.
“Everybody can hear me. Nigerians can hear me. The directors are all here. The person that liaises with BPP is here. The Permanent Secretary is here. All the most senior memberships are here.
“The pace at which we are getting, we are processing this BPP ‘no objection’ is too slow. We need to bring it out, latest by the end of January and we hope to get the FEC approval immediately.”
Meanwhile the Co-chairman of the joint panel, Hon. Zainab Gimba, said it was wrong of the Ministry to hold on to the funds of the agencies under it.
She subsequently directed the Minister to return the N2bn it was holding on behalf of the agencies under it, to them to avoid misappropriation.
Business & Economy
Bayelsa Assembly Hopeful Unveils Blueprint On Human CapitL development
By David Owei,Bayelsa
Standard bearer of the Peoples Democratic Party (PDP) for Ogbia Constituency one in the 2027 elections into the Bayelsa State House of Assembly, Hon. Whoknows Azibola Odoko has said he would focus on human capital development, amongst others if he is elected into the State legislature.
Odoko stated this during a chat with Journalists in Yenagoa, the state capital yesterday.
Our source gathered that ex-President Jonathan is also a constituent of the Ogbia constituency one.
He said the era of voting for candidates who abandon constituents upon their elections was over, noting that there was nothing better than empowering and building constituents so that they can eke out a living for themselves.
The assembly hopeful averred that if elected, he would amongst other empowerment programmes roll out an educational support scheme for the training and retraining of his constituents.
He also pledged to facilitate the provision of jobs for constituents who have the requisite skills and credentials for employment, saying that under his stewardship as a lawmaker the constituency will heave a sigh of relief.
Speaking on the crisis rocking the PDP, the party’s candidate noted that all the major political parties in the country have their own share of problems, emphasizing that the Peoples Democratic Party would emerge stronger and more united on or before the 2027 polls.
He said: I’ll win the election. My popularity cut across party lines in the constituency and beyond. My teaming supporters are ready and willing to convert the goodwill I enjoy from across the constituency into votes for me come 2027.
“Upon my election I’ll institute an aggressive empowerment scheme in education, jobs creation and employment generation for my constituents.
“The era of electing candidates who don’t have anything to offer to the constituency is over”.
Business & Economy
Senate approves N2.285trn FCT 2026 Budget ……Allocates 76% to capital projects
By George Mgbeleke
The Senate on Thursday passed the 2026 Statutory Appropriation Bill for the Federal Capital Territory, (FCT) approving a total expenditure of N2.285 trillion for the administration and development of Abuja.
The approval was sequel to the presentation of the harmonised report of the Senate and House of Representatives Committees on the FCT during plenary.
Vice Chairman of the Senate Committee on FCT, Senator Austin Akobundu, presented the report on behalf of Committee Chairman, Ibrahim Bomai.
According to Akobundu, the budget is based on a projected revenue estimate of N2.385 trillion as it allocates N165.7 billion to personnel costs, N378.2 billion to overhead expenditure, and N1.741 trillion to capital projects across the territory.
He said 76.19 per cent of the total allocation is devoted to capital expenditure, while recurrent expenditure accounts for 23.8 per cent.
The appropriation, he added, complied with constitutional provisions and followed extensive consultations between the joint committees and officials of the Federal Capital Territory Administration.
“The committees met with the minister and other relevant officials of the FCTA and deliberated extensively on the subject matter,” Akobundu said.
Lawmakers described the budget as balanced and development‑oriented, with potential to accelerate infrastructure growth and improve security in Abuja and its satellite communities.
Deputy Senate President Barau Jibrin commended the proposal, calling it “top notch” and reflective of a strong commitment to infrastructural transformation in the FCT.
“Mr President, the budget is top notch. You know, I am the only one in the history of the legislature in this country that had the opportunity to serve as chairman of the appropriation committee in the House and in the Senate. So when I see a good budget I know it’s a good budget.
“A budget that has a total of N2.2 trillion and out of this, N1.7 trillion is going for capital shows his willingness and determination to continue to position FCT to the admiration of all,” he said.
Also contributing, Senator Abdul Ningi also described the budget as well‑packaged and balanced, noting that it addressed observations raised by the Senate Committee on the FCT during earlier budget reviews.
In his remarks, the Senate President Godswill Akpabio commended the committee for a job well done and urged the FCT Minister, Nyesom Wike not to relent in the development of the Territory.
Business & Economy
NNPC SCANDAL: HURIWA Blasts EFCC, ICPC, NASS, Presidency Over “CRIMINAL SILENCE” …….AS “Billions Vanish Without Accountability”
By George Mgbeleke
The Human Rights Writers Association of Nigeria (HURIWA) has expressed outrage, anger, and deep national embarrassment over the staggering failure of Nigeria’s anti-graft institutions and political leadership to act decisively on the monumental waste and alleged corruption surrounding the Nigerian National Petroleum Company Limited.
It is a massive national shame that despite over $2.4 billion reportedly sunk into the so-called Turnaround Maintenance of the Port Harcourt and Warri refineries, there is little to no tangible result to justify such colossal expenditure. Yet, those responsible walk free, uninvestigated, and unprosecuted.
In a statement signed by HURIWA’s National Coordinator Comrade Emmanuel Nnadozie Onwubiko, the group unequivocally condemned what it describes as the disgraceful inertia of the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices Commission (ICPC), which have failed woefully in their statutory duties to arrest, investigate, and prosecute those indicted in this apparent economic sabotage.
“Why are the officials responsible for this monumental waste not in jail?” HURIWA demands.
“What exactly are the EFCC and ICPC waiting for? Must Nigerians continue to tolerate impunity of this scale?”
Even more disturbing, HURIWA accuses the National Assembly of Nigeria of turning what should be a serious probe into a political charade designed to generate campaign slush funds rather than deliver justice.
“Otherwise, how do we explain the endless hearings without consequences? Why has no single high-profile conviction emerged from these investigations?” the group queried.
HURIWA did not spare the Presidency, holding Bola Ahmed Tinubu accountable for what it described as a “deafening silence and unacceptable inaction” in the face of what it called one of the most brazen financial scandals in Nigeria’s recent history.
“This administration cannot continue to look the other way while public wealth is looted in broad daylight. The President must act—decisively and immediately—or risk being seen as complicit,” the statement added.
The association warned that history would deliver a harsh verdict on all institutions and individuals who have failed to act.
“Posterity will judge this National Assembly harshly for what appears to be a dangerous connivance with corrupt elements within the NNPC to drain public resources meant for national development,” HURIWA declared.
HURIWA further described the latest move by the Nigerian National Petroleum Company Limited to enter yet another agreement with foreign partners as “a suspicious recycling of failed strategies,” insisting that without accountability, no reform can succeed.
The group, however, commended prominent industrialist Aliko Dangote for what it described as his courage in consistently speaking out against systemic corruption in the oil sector.
“At a time when many have chosen silence, Dangote has shown uncommon patriotism by drawing national attention to the rot in the system. His voice reflects the frustration of millions of Nigerians,” HURIWA noted.
HURIWA therefore demands:
Immediate arrest and prosecution of all officials linked to the failed refinery rehabilitation projects;
A transparent forensic audit of all funds spent on refinery maintenance;
Public disclosure of all contracts, contractors, and payment structures;
Immediate overhaul of anti-corruption agencies for failure to act;
An end to what it termed “legislative theatrics” in place of real accountability.
“Nigeria cannot continue like this. This culture of impunity must end. The looting of public wealth must stop. The time for action is now,” the statement concluded.
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