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AGF’s Report: Senate Summons Kyari , Ajia , others over unaccounted N210trillion …threatens to issue warrant of arrest if…… …wonders how N5billion was spent on changing from NNPC to NNPCL incorporation

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Chairman Senate Committee on Public Accounts ,, Senator Aliyu Wadada Ahmed (flanked by other members of the C'ttee

By George Mgbeleke

The Senate on Thursday summoned immediate past Group Chief Executive Officer ( GCEO) of the Nigerian National Petroleum Company Limited ( NNPCL) , Mele Kyari , the Chief Financial Officer , Umar Ajia Isa and Dr Bala Wunti to refund unaccounted N210trillion expended by the company between 2017 and 2023.

The Red Chamber threatened to issue warrant of arrest against the summoned past management team of NNPCL if they fail to appear before it on a date to be forwarded to them soon , wondering among others , why a whopping sum of N5billion was spent by the National Oil Company on change of Name from NNPC to NNPCL .

These resolutions of Senate on summoning of the immediate past top management team of the NNPCL was taken at its meeting Public Accounts held on Thursday.

Chairman of the committee, Senator Aliyu Wadada Ahmed ( Nasarawa West), who read out the resolutions while briefing Senate Correspondents explained that the summon on the past management team of NNPCL , should be led by the incumbent GCEO, Engineer Bayo Ojulari .

Announcing the resolutions one after the other , Senator Wadada said : ” NNPCL should refund the sum of N210 trillion, being the combined sum of N103 trillion and N107 trillion, which were not properly accounted for as contained in the audit reports .NNPCL ,should and must account for the two figures.

“The second resolution of the committee is that the NNPCL should reform to treasury all production costs charged against crude oil revenue for the period under review since the NNPC and its subsidiaries, NAPIMS and co. do not directly produce crude oil.

“Three, that Immediate past management of NNPCL and NAPIMS, i.e, Mele Kyari as the then GCEO, Umar Ajia Isa as the then CFO and Bala Wunti as the then GGM, NAPIMS, should and must appear before the committee and to be led by the present management with the entire body of the external auditors that served within the period under review.

” Four, that the Auditor General for the Federation should carry out forensic audit review of the audited financial statements of NNPCL for the period under review in line with section 85 of the constitution of the federal republic of Nigeria (1999 as amended)”.

He added that the committee as contained in the audit report, wondered how NNPC spent a whopping sum of N5billion on change of name from NNPC to NNPCL .

” This to us in the committee , is unacceptable and satisfactory explanations must be given “, he said .

According to him , the committee came up with the resolutions due to inability of NNPCL to give satisfactory answers to the 19 questions posed to it from queries raised in the audit report .

” NNPCL, as a result of the questions that we asked, responded that the N103 trillion represented cumulative amounts expended by NNPCL Joint Venture Partners from JV Cash Calls 2017. For that, this response is unacceptable and the figure of N103 trillion is still lingering and hanging on NNPC.

“The Subsidy receivables according to the audited financial statement of NNPCL stood at N107 trillion. As at December 2023 NNPCL recorded N107 trillion as sundry receivables which it claims part of it was owed by some different banks and other entities . When put together, NNPCL need to properly account for N210trillion ” he explained .

The committee however affirmed its legislative support to President Bola Ahmed Tinubu led Federal government , who according to it , is doing everything possible in ensuring transparency , probity and accountability in the management of public fund.

Business & Economy

Niger State Moves to Sanitize Mining Sector, Tackles Illegal Activities

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Muhammad Qasim Danjuma

BY UTHMAN BABA-NASEER,MINNA

The Niger State Government has reaffirmed its commitment to reforming and regulating the mining sector to boost economic growth and protect local communities.

The Commissioner for Mineral Resources, Muhammad Qasim Danjuma stated this during an interview with journalists, where he highlighted ongoing efforts to address illegal mining and attract genuine investors into the state.

Danjuma described Niger State as one of the most blessed in Nigeria in terms of mineral deposits, noting that proper management of these resources could significantly improve the state’s economy and infrastructure.

According to him, “Niger State has witnessed several administrations since its creation in 1976, but the current era is bringing remarkable transformation across all the 25 local government areas, especially in infrastructure development.”

The Commissioner commended the leadership of Governor Mohammed Umar Bago, describing his emergence as a “divine opportunity” for the people of the state. He said the administration has demonstrated strong commitment, dedication, and visible development projects, unlike previous governments that made promises without delivering.

Speaking in the mining sector, Danjuma explained that the Ministry of Mineral Resources was created in 2017 after being separated from the Ministry of Environment. Since then, efforts have been made to reposition the sector for better performance.

He, however, identified illegal mining as a major challenge affecting the sector. According to him, many individuals and groups operate without proper licenses or community consent, thereby causing environmental damage and security concerns.

“Illegal miners and some cartels are exploiting the state’s resources for personal gain. This is a serious problem we are working hard to address,” he said.

The Commissioner explained that for anyone to operate legally, they must obtain a valid license from the Federal Ministry of Solid Minerals Development and also secure consent from host communities and clearance from the state government.

He further noted that the state has introduced new procedures requiring mining companies to engage host communities, ensure environmental protection, and contribute to local development through Community Development Agreements (CDAs).

Qasim Danjani added that the government is also encouraging artisanal miners to form cooperatives, which will enable them to operate legally and benefit from government support.

“We are working to formalize their activities, provide guidance, and ensure they contribute positively to the economy,” he said.

On enforcement, the Commissioner disclosed that several illegal miners have been arrested, while operations are ongoing to identify and remove others across the state.

He also emphasized the importance of collaboration with security agencies and federal authorities to curb illegal activities and prevent insecurity linked to unregulated mining.

The Commissioner assured that the government is creating a conducive environment for both local and foreign investors, stating that registered companies operating legally in the state are given full support and protection.

“If properly managed, the mining sector can generate revenue for the government and fund critical projects such as roads, hospitals, and other infrastructure,” he added.

Danjuma reiterated that the ultimate goal of the government is to ensure that mining activities benefit the people of Niger State while safeguarding the environment and maintaining peace in mining communities.

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Business & Economy

Tinubu seeks NASS approval for Fresh US$516,333,007 loan for construction of Sokoto-Badagry Superhighway Project

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Senate in session in the chamber

By George Mgbeleke

President Bola Ahmed Tinubu on Thursday requested the National Assembly to formally prove a foreign loan to the tune US$5168,333,007 for the construction of Sokoto-Badagry Superhighway Project.

In a letter addressed to the President of the Senate, Senator Godswill Akpabio and read to Senators at the Thursday plenary, President Tinubu urged the lawmakers to prove the proposed foreign loan for financing arrangement of a syndicated loan facility of US$516,333,007 for construction of the Sokoto and Badagry Superhighway Project.

The official communication reads:

“The purpose of this communication is to formally request the resolution of the National Assembly, pursuant to the provisions of Sections 16 and 21 of the Debt Management Office (Establishment) Act, 2011, to approve a proposed foreign financing arrangement of a syndicated loan facility of US$516,333,007 for the construction of the Sokoto–Badagry Superhighway Project.

“Specifically, approval is sought for:

A. The syndicated financing facility from Deutsche Bank in the total sum of US$516,333,007 for the execution of Sections 1, 1A, and 1B of the Sokoto–Badagry Superhighway Project.

B. The inclusion of the said financing in the Federal Government’s borrowing plan, as earlier approved by the National Assembly.
The Senate is invited to note that the Sokoto–Badagry Superhighway is a flagship infrastructure initiative under the Renewed Hope Agenda.

“The project is designed to open up Nigeria’s northwest–southwest economic corridor through the construction of an approximately 1,000-kilometre high-capacity carriageway, linking Sokoto, Kebbi, Niger, Kwara, Oyo, Ogun, and Lagos States, stretching from Illela to Badagry.

“The project is expected to:
Enhance north–south connectivity and road safety

“Improve network performance along the corridor

“Reduce logistics costs and travel time

“Facilitate trade and strengthen food security.”

Continuing the statement added, “Promote national integration by linking production zones to markets and ports
Provide long-term intermodal flexibility through provision for future rail integration and utility corridors

“The proposed financing arrangement comprises a syndicated loan to be secured through Deutsche Bank AG, supported by a partial risk guarantee from the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), the insurance arm of the Islamic Development Bank.

“The Federal Government will provide counterpart funding in the sum of ₦265,542,689,569, covering land acquisition, compensation, and ancillary infrastructure.

“The loan has a tenure of nine years, including a grace period of up to three years, with an interest rate not exceeding the Chicago Mercantile Exchange (CME) SOFR plus 5.3 percent per annum.

“The Federal Executive Council has approved the financing arrangement and its terms.

“In light of the foregoing, approval is hereby requested from the National Assembly for:
The syndicated loan facility of US$516,333,007

“The inclusion of the facility in the borrowing plan

“The execution of Sections 1, 1A, and 1B of the project, covering approximately 120 kilometres

“A draft resolution is attached for ease of reference.”

He expressed optimism that he looks forward to the expeditious consideration and approval of this request by the Senate.”

Meanwhile,Following the presentation of the President’s request, the letter was referred to the Senate Committee on Local and Foreign Debts, with a directive to report back within one week.

Contributing to the debate, Senator Adamu Aliero commended the President for initiating what he described as a landmark project that had remained on the drawing board for over five decades.

He noted that the project is already taking shape, citing firsthand inspection of completed and ongoing sections.

According to him, the superhighway—constructed using reinforced concrete and equipped with solar-powered street lighting—meets modern infrastructure standards.

The senator stated that significant portions of the road pass through multiple states, adding that the project would drastically reduce travel time between Sokoto and Lagos from approximately 13 hours to about six hours.

He described the initiative as transformative, with the potential to positively impact the northwest, north-central, and southwest regions of the country.

Senator Aliero urged his colleagues to support the project by approving the report of the Senate Committee on Local and Foreign Debts once it is presented.

In his remarks, the President of Se Godswill Akpabio, who presided over the plenary, aligned with the position, describing the project as a major economic game changer capable of saving lives and boosting national productivity.

He emphasized that borrowing for critical infrastructure is justified, particularly where such investments yield long-term economic benefits and can facilitate repayment through generated value.

The Senate leadership subsequently urged the committee to expedite its review to enable timely consideration and approval.

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Business & Economy

Niger Delta group commends FG on Immigration Law compliance

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By David Owei,Bayelsa

A Niger Delta Think Tank, the Movement of Intellectuals for National Development (MIND), has commended the Federal Government over its directive on strict compliance with the Nigerian Immigration Law.

MIND, in a letter to the Minister of Interior, signed by its Western Coordinator, Ebi Warekromo, stated that the Ministry’s firm statement condemning the abuse of Nigeria’s immigration framework by certain expatriate workers and their employers operating within the country was a welcome development.

According to him, the Ministry’s ‘’clear and decisive position sends a strong signal that the Federal Government remains committed to upholding the rule of law, protecting the integrity of Nigeria’s immigration system, and safeguarding employment opportunities that should rightfully be available to qualified Nigerians.’’

Warekromo, while recalling a recent petition by the group that was submitted to the National Assembly, vowed that it would continue to work with all relevant agencies of the government to expose abuse of Nigeria’s Immigration Law.

The statement read in part: ‘’Our organization had recently submitted a petition to the Senate President of the Federal Republic of Nigeria, highlighting disturbing patterns of non-compliance with immigration and expatriate quota regulations by some multinational corporations operating in Nigeria. The petition specifically drew attention to issues relating to the operations of TotalEnergies Nigeria, including allegations of expatriate personnel occupying positions that are ordinarily meant for Nigerians, the misuse of expatriate quota approvals, and practices that undermine the objectives of Nigeria’s labour and local content policies.

It is therefore highly reassuring to note the Ministry’s strong condemnation of such practices and its commitment to ensuring strict compliance with Nigeria’s immigration laws. We believe this position is both timely and necessary to protect national interests, strengthen institutional accountability, and ensure that expatriate participation in Nigeria’s economy genuinely contributes to skills transfer and national development.

In light of this, the Movement of Intellectuals for National Development expresses its readiness to work constructively with the Ministry of Interior and its relevant agencies in identifying and addressing cases of immigration law violations. We believe that collaboration between regulatory institutions and responsible civil society organizations will significantly enhance efforts aimed at curbing these detrimental practices.

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