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NEITI clarifies timeline of unremitted NNPC funds to Federation Account

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…As Afenifere, over Osun election, suspends Omisore for supporting APC***

The Nigeria Extractive Industries Transparency Initiative (NEITI) says that the 22.06 billion dollars and N481.75 billion yet to be remitted by NNPC and others to the Federation Account are legacy issues from its audit reports for 1999 to 2015.

NEITI made the clarification in a statement signed by its Director of Communications and Advocacy, Dr Orji Ogbonnaya Orji, in Abuja, on Tuesday.

He said that the others stakeholders involved include the Nigerian Petroleum Development Company (NPDC) and oil companies in the oil and Gas sector.

He said that the bulk of the outstanding amounts was from NLNG dividends from 2000 to 2015 and outstanding payments for the value of 12 Oil Mining Licenses (OMLs) divested to NPDC between 2011 and 2013.

“To say the non remittance happened under this administration or that the money went missing from the Federation Account is therefore totally incorrect and deliberately misleading.

“This clarification has become necessary based on the distortion and politicisation of the media reports of a conference hosted by NEITI in Abuja on Monday,’’ he said

Orji said that the focus of the conference was on how to ensure better implementation of NEITI’s audit recommendations, address the lingering issues in the extractive sector, and improve optimisation of Nigeria’s extractive endowments for the benefit of all Nigerians.

“The conference was not a fault-finding or political event.

“It was a solution-oriented gathering with good representation and useful contributions from government agencies (including NNPC, DPR, CBN, PPPRA etc), the private sector, civil society, academia, and the media,’’ he added.

He noted that information shared for discussion was not only historical, but also not new.

He further stated that there was no data shared and discussed at the conference that had not been made public over time, most notably in the NEITI Policy Brief on unremitted funds released in April 2017 and in the NEITI 2015 industry audit reports released in December 2017.

“Those who follow discussions on these issues closely would also be aware that various efforts have been made by different government institutions, including the Federation Allocation Accounts Committee (FAAC) and the National Economic Council (NEC) to ensure that NNPC and its subsidiaries address these legacy issues.

“It is noteworthy that at the conference yesterday, the NNPC team confirmed that many of the issues under reference have either been resolved or at advanced stages of resolution.

“ While NEITI awaits the outcome of its ongoing audits for 2016 and 2017 to provide update on these and other issues, it is wrong to deliberately distort data from NEITI’s audits and the issues arising from them for sensational or political purposes,’’ Orji said.

He appeal to the media and the civil society as key partners in the NEITI process to always cross-check to ensure that facts align with the issues before publication.

In the meantime, the pan-Yoruba socio-political organization, Afenifere, on Tuesday, announced the suspension of the candidate of the Social Democratic Party (SDP) in the last governorship election in Osun State, Senator Iyiola Omisore for one year.

Omisore was alleged to have aligned with the All Progressives Congress (APC) to win the rerun election in Ife South and North Local Government Areas of Osun State.

His action was said to have gone against the position of his party, the Social Democratic Party and the Afenifere.

Omisore’s suspension was part of the decisions taken at the monthly meeting of the Afenifere, held at the residence of its leader, Chief Reuben Fasoranti, in Akure, the Ondo State capital.

In a communique issued at the end of the meeting and read by a chieftain of the group, Chief Korede Duyile, the group said Omisore allegedly went against the position of Afenifere during the last governorship election in Osun State.

The group had earlier decided not to support the All Progressives Congress at the Osun governorship and the forthcoming general elections.

Afenifere said in the communique, ” The meeting took a decision to suspend Senator Iyiola Omisore for one year for violating Afenifere’s directive which affected the outcome of Osun election.”

Meanwhile, Senator Iyiola Omisore, on Tuesday said he was not aware of the purported suspension order placed on him by the Pan Yoruba socio-cultural group, the Afenifere.

Omisore said his resolve to form an alliance with the ruling All Progressives Congress (APC) few days to the conduct of a rerun exercise of September 27 was the outcome of the resolution passed by his party, the SDP.

Apparently reacting to the one year suspension slammed on him by the Afenifere in a press release personally signed by him and made available to Tribune Online in Osogbo, he stated “It was the Osun Social Democratic Party (SDP) that passed a resolution for a coalition agreement with the All Progressives Congress (APC), which is the party’s supremacy in decision making.”

Omisore said, “the Afenifere’s action is at variance to the reality on the ground as far as the party politics in Osun State is concerned.”

He said, “I’m unaware of the pan-Yoruba group’s directives because we also have bonafide, notable and active APC members in Afenifere.”

“The interest of Osun SDP was the development of the state, and of the two parties involved in the rerun election, it was the APC that agreed to implement the SDP’s manifestos, the reason the decision was made.

“In as much as I’m a member of Afenifere, SDP members in Osun State are not necessarily members of Afenifere. Osun politics is local and I acted in consonance with the position and the will of Osun SDP.

“However, I’m yet to be informed on the so-called Afenifere’s suspension, which as far as I’m concerned bypassed the principle of fair hearing.”

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Economy

Nigeria Loses 50% Of Agricultural Produce Post-harvest – FAO

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Nigeria Loses 50% Of Agricultural Produce Post-harvest – FAO

Mr Ibrahim Ishaka, Food System/Nutrition Specialist at the Food and Agriculture Organisation (FAO) of the United Nations, revealed that Nigeria loses around 50% of its agricultural products along the food supply chain.

Ishaka disclosed this in an interview with the Newsmen on the sidelines of an FAO-organised training in Yola on Saturday.

He explained that food waste posed significant challenges to Nigeria’s agricultural sector, impacting food security, economic growth, and environmental sustainability.

“Some of these challenges include technological barriers, inefficient harvesting techniques, pest infestations, and lack of access to modern farming tools, all of which contribute to losses during harvest, largely influenced by consumer behaviour,” he said.

Ishaka further highlighted additional factors contributing to post-harvest losses, including inadequate storage facilities, poor handling practices and poor transportation infrastructure.

“These factors result in significant losses, especially for perishable goods such as fruits and vegetables.

He also noted that inefficient food processing methods, improper packaging, inadequate storage, and unhealthy consumption habits further exacerbate food waste.

“The nutrition expert highlighted several FAO initiatives promoting nutritious and sustainable practices within communities, focusing on reducing post-harvest losses, improving hygiene, and ensuring sanitation.

“These initiatives include investing in post-harvest infrastructure, building community capacity, training, and empowerment programmes, among others.

“I firmly believe that the key to empowering people, particularly in the northeast region, lies in giving them the power to make informed decisions and the power to educate others,” he said.

Ishaka mentioned the establishment of several FAO-supported centres that produce and distribute locally nutritious foods, such as ‘tom brown,’ to combat malnutrition and food insecurity in the region.

Ishaka mentioned the establishment of several FAO-supported centres that produce and distribute locally nutritious foods, such as ‘tom brown,’ to combat malnutrition and food insecurity in the region.

“These centres are run by local communities, promoting community-led initiatives to improve food security.”

He expressed optimism that the training would have a long-lasting impact on participants and their communities, enhancing overall well-being and food security through the adoption of best nutrition practices.

This initiative is part of the “Emergency Agriculture-Based Livelihoods Sustenance for Improved Food Security” programme, targeting Borno, Adamawa, and Yobe, with support from USAID. 

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Oil, Gas Industry Owes FG $6bn, N66bn – NEITI Report

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Oil, Gas Industry Owes FG $6bn, N66bn – NEITI Report

The Nigeria Extractive Industries Transparency Initiative (NEITI), says outstanding collectable revenues due to the Federal Government in the oil and gas industry have risen to 6.071 billion dollars and N66.4 billion as of June 2024, respectively.

NEITI disclosed this on Thursday in Abuja at the public presentation of its 2022 and 2023 Independent Oil and Gas Industry Reports.

It was reported that the report is being prepared by the NEITI Board and National Stakeholders Working Group (NSWG).

The report was unveiled by Mr Ola Olukoyede, Chairman, Economic and Financial Crimes Commission (EFCC), alongside Sen. George Akume, Secretary to the Government of the Federation and Chairman, NSWG, NEITI and other dignitaries.

The breakdown of the report showed that outstanding liabilities were 6.049 billion dollars and N65.9 billion in unpaid royalties and gas flare penalties, due to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) as collectable revenues by Aug. 31, 2024.

It also provided a detailed analysis of the information and data regarding who owes what in outstanding revenues due to the government.

Oil, Gas Industry Owes FG $6bn, N66bn – NEITI Report
(L-R) Mr Ola Olukoyede, Chairman, Economic and Financial Crimes Commission (EFCC), with Sen. George Akume, Secretary to the Government of the Federation and Chairman, NSWG, NEITI and Mr Ikenga Ugochinyere, Chairman. House Committee on Downstream Petroleum

A further breakdown showed outstanding petroleum profit taxes, company income taxes, withholding taxes, and Value Added Tax  (VAT), due to the Federal Inland Revenue Service (FIRS), amounting to 21.926 million dollars and N492.8 million as of June 2024.

On fuel importation, the latest NEITI report disclosed that a total of 23.54 billion litres of Premium Motor Spirit (PMS) were imported into the country in 2022, while 20.28 billion litres were imported in 2023.

This represented a reduction of 3.25 billion litres, or a 14 per cent decline, following the removal of the fuel subsidy.

A detailed 10-year trend analysis (2014–2023) in the NEITI report showed that the highest annual PMS importation into the country, 23.54 billion litres, was recorded in 2022, while the lowest, 16.88 billion litres recorded in 2017.

The NEITI report also disclosed that a total of N15.87 trillion was claimed as under-recovery/price differentials between 2006 and 2023, with the highest amount, N4.714 trillion, recorded in 2022.

On crude production, fiscalised crude production in 2022 stood at 490.945 million barrels, compared to 556.130 million barrels produced in 2021, representing an 11 per cent decline.

However, in 2023, NEITI’s independent report revealed total fiscalised production of 537.571 million barrels, and 46.626 million barrels or a 9.5 per cent increase from total production recorded in 2022.

A 10-year trend (2014–2023) of fiscalised crude oil production in Nigeria showed the highest production volume of 798.542 million barrels was recorded in 2014, while the lowest, 490.945 million barrels, was recorded in 2022.

The NEITI report further provided detailed information and data on crude lifting, disclosing that in 2022, total crude lifting was 482.074 million barrels compared to 551.006 million barrels lifted in 2021.

“In 2023, total crude lifting stood at 534.159 million barrels, representing an 11 per cent increase of 58.08 million barrels,” the report stated.

On oil theft and crude losses, a total of 7.68 million barrels of crude were either stolen or lost in 2023, representing a significant drop of 79 per cent (29.02 million barrels) compared to 36.69 million barrels either stolen or lost in 2022.

NEITI’s independent industry report carefully reviewed all aspects of the regulatory framework for the oil and gas industry.

This included the legal framework, fiscal regime, roles of government entities and reforms, as well as laws, Petroleum Industry Act (PIA 2021) and regulations relating to addressing corruption risks in the oil and gas sector.

The event was supported by the European Union and the Rule of Law and Anti-Corruprion (RoLAC) programme being implemented by the International Institute for Democracy and Electoral Assistance (IIDEA). 

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EKO BRIDGE REPAIRS: LASG Rolls Out Diversion Plan Beginning Monday

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EKO BRIDGE REPAIRS; LASG Rolls Out Diversion Plan Beginning Monday

The Lagos State Government on Friday announced that traffic will be diverted away from Eko Bridge to facilitate emergency repairs by the Federal Ministry of Works. 

The diversion, according to the Commissioner for Transportation, Mr Oluwaseun Osiyemi, will commence on Monday, 16th September 2024, and will last for 8 weeks.

“The repairs will be carried out in four phases, during which the bridge will be intermittently fully or partially closed, depending on the work schedule”, Osiyemi stated, advising Motorists to use the following alternative routes during the repairs:

*Motorists heading to the Island from Funsho Williams Avenue can make use of the service lane at Alaka to connect to Costain and access Eko Bridge to continue their journeys.

*Alternatively, Motorists heading to the Island can access Costain to connect Eko Bridge to link Apongbon for their destinations.

*Motorists can also connect Apongbon inwards Eko Bridge to link Costain to access Funsho Williams Avenue.

*Motorists can also make use of Costain inwards Alaka/Funsho Williams Avenue or alternately go through Apapa Road from Costain and link Oyingbo to access Adekunle to link Third Mainland Bridge for their desired destinations.

*In the same vein Motorists heading to Surulere are advised to use Costain to link Breweries inward to Abebe Village to connect Eric Moore/Bode Thomas to get to their destinations.

The Commissioner for Transportation, Mr Oluwaseun Osiyemi, assures that Lagos State Traffic Management Authority officers will be deployed to the rehabilitation areas and alternative routes to minimize travel delays and inconvenience.

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