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Reps Public Accounts Committee Recovers Additional $14m From Oil Companies

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Reps

Reps Public Accounts Committee Recovers Additional $14m From Oil Companies

Reps public accounts committee recovers additional $14m from oil companies. House Public Accounts Committee recovers additional $14 million from oil companies

The House of Representatives Public Accounts Committee (PAC) has made another major breakthrough in its ongoing investigation into financial irregularities in the oil and gas sector, recovering an additional $14.2 million (₦21.4 billion) from four companies. This brings the total amount reclaimed by the committee to $33.44 million (₦50.1 billion) so far.

Chairman of the Committee, Hon. Bamidele Salam, attributed the success to the strong leadership and commitment to accountability by Speaker of the House, Hon. Abbas Tajudeen. He emphasized that the Speaker’s unwavering support has allowed the committee to operate independently and effectively in safeguarding public resources.

According to the PAC, the latest financial recoveries are broken down as follows:

Platform Petroleum Ltd: $1.9 million (₦2.9 billion)

Midwestern Oil and Gas Ltd: $1.578 million (₦2.3 billion)

Universal Energy: $523,845 (₦785.7 million)

Aradel Energy Ltd: $10.3 million (₦15.5 billion)

Hon. Salam reaffirmed the committee’s commitment to fiscal transparency and warned that additional measures would be taken against defaulting companies.

ULTIMATUM FOR FURTHER RECOVERIES:

The PAC has issued a 20-day deadline for four more companies to remit outstanding payments totaling $23.2 million (₦34.8 billion). The affected firms and their required payments are:

Total Energies: $2 million within 7 days

Seplat Energies (SPDC): $6.036 million and ₦1.5 billion within 7 days

Aradel Energy Ltd: $12.1 million within 7 days

Network Exploration: $3.1 million within 7 days

Failure to comply within the stipulated timeframe could result in public sanctions, including the naming of defaulters in national newspapers.

In a related development, several companies have failed to respond to committee invitations and are now under increased scrutiny. These companies include:

Frontier Oil and Gas

Conoil Producing

Walter Smith Petrochemical

Bilton

Energia Ltd

Aiteo Petroleum Ltd

Pillar Oil Ltd

Additionally, First E & P Oil Company has been directed to reconcile an outstanding balance of $90 million with the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and is scheduled to appear before the Committee on April 16, 2025, for further review.

ONGOING INVESTIGATIONS:
The PAC’s investigation is part of a broader push to ensure financial accountability in the oil and gas sector, particularly in response to findings from the 2021 Auditor General’s report, which revealed over ₦10 trillion in outstanding payments to the Federation Account.

Hon. Salam vowed that the era of financial mismanagement in the sector is nearing its end.

Reps

Reps

“We are determined to recover every kobo owed to the Nigerian people and ensure that public funds are managed with integrity,” he stated. As the PAC continues its investigations and public hearings, further updates on recovered funds and enforcement actions will be provided.

The House of Representatives remains steadfast in its commitment to upholding transparency, accountability, and financial discipline in Nigeria’s oil and gas industry.

Economy

Bauchi Government, UNICEF Sign Agreement To Boost Child Welfare

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UNICEF

Bauchi Government, UNICEF Sign Agreement To Boost Child Welfare

Bauchi government, UNICEF sign agreement to boost child welfare. She emphasised the need for continued support and cooperation from stakeholders.

The Bauchi State government, through the ministry of budget, economic planning, and multilateral coordination, has officially signed the 2025 work plan agreement with the United Nations Children’s Fund (UNICEF).

The agreement aims to improve the lives of the state’s citizens, particularly children.

The signing of the 2025 workplan marks a formal commitment between the State and UNICEF to achieve shared objectives for sustainable development, ensuring a more productive and impactful year ahead.
Nuzhat Rafique, chief of field office for UNICEF Bauchi, spoke at the signing ceremony in Bauchi on Wednesday.

She explained that the agreement was aimed at enhancing development initiatives across critical sectors in the state.

UNICEF

UNICEF

“The work plan was developed in collaboration with relevant ministries, agencies, and stakeholders.
“The focus areas include health, education, Water Sanitation and Hygiene (WASH), nutrition, and societal and behavioural change,” Ms Rafique said.

She emphasised the need for continued support and cooperation from stakeholders to ensure the successful implementation of the outlined activities.
Amina Katagum, commissioner for budget, economic planning, and multilateral coordination, expressed appreciation for UNICEF’s technical and financial support, particularly for child-focused programmes.

She reaffirmed the state’s commitment to supporting UNICEF initiatives, aiming to improve programme efficiency and address identified gaps.

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NEITI Urges New NNPC Boss On Transparency, Accountability

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NEITI Urges New NNPC Boss On Transparency, Accountability

NEITI urges new NNPC boss on transparency, accountability. Mr Tinubu removed all the board members appointed with Messrs Akinyelure and Kyari in November 2023.

The Nigeria Extractive Industries Transparency Initiative (NEITI) has urged Bayo Ojulari, the new group chief executive officer (GCEO) of the Nigeria National Petroleum Company Limited (NNPC Ltd.), to strengthen reforms, transparency and accountability.

NEITI urged the new leadership to prioritise timely publication of the company’s financial statements, full disclosure of production data, operational costs, and revenue remittances to help rebuild public trust and enhance Nigeria’s global reputation.

The executive secretary of NEITI, Orji Ogbonnaya Orji, made the call on Wednesday while congratulating Mr Ojulari on his appointment.
President Bola Tinubu had on Wednesday reconstituted the board of the NNPC Ltd., removing the chairman, Pius Akinyelure and the Group CEO, Mele Kyari.

Mr Tinubu removed all the board members appointed with Messrs Akinyelure and Kyari in November 2023.
The new 11-man board has MrOjulari as the Group Chief Executive Officer (GCEO) and Ahmadu Kida as non-executive chairman.

Mr Orji, while reacting, said that Mr Ojulari’s appointment came at a critical time when the ongoing NNPC Ltd’s reforms required renewed commitment, strategic leadership, and a firm dedication to transparency, accountability and corporate governance.

“NEITI recognised that NNPC Ltd., as Nigeria’s foremost national energy company, plays a crucial role in shaping the future of the country’s oil and gas sector.

“As a member of the NEITI National Stakeholders’ Working Group (NSWG) and a key institution in Nigeria’s extractive industry, NNPC Ltd. is responsible to ensure that the reforms initiated under the Petroleum Industry Act (PIA) are strengthened, broadened, and sustained in the public interest.
“As a Supporting Company of the global Extractive Industries Transparency Initiative (EITI), NNPC Ltd.

must demonstrate unwavering commitment to openness, systematic disclosure of critical industry data, responsible resource management and corporate governance best practices,” he said.

He urged the new leadership to prioritise timely publication of NNPC’s financial statements, full disclosure of production data, operational costs, and revenue remittances to help rebuild public trust and enhance Nigeria’s global reputation.

According to him, transparency in the management of oil and gas revenues remains critical to national development and ongoing poverty reduction efforts.

He said the EITI process provided a tested framework for ensuring that revenues from natural resources were prudently managed, fully accounted for, and efficiently deployed to address Nigeria’s development needs.

NNPCL

NNPCL

“We look forward to working closely with the new GCEO and his team in deepening the NEITI-EITI process in Nigeria and ensuring that NNPC Ltd. continues to align with international best practices in corporate governance and financial transparency.

“NEITI also congratulates the newly reconstituted NNPC Ltd. Board and charges them to provide forward-looking strategic direction to fast-track the ongoing transformation of NNPC Ltd. in line with the PIA.

“The Board’s role in ensuring that NNPCL remains accountable to its shareholders—the Nigerian people—is crucial to the long-term sustainability of the company and the industry at large,”.

Mr Orji thanked the Kyari team for their dedication, hard work, mutual respect, patience, and collaboration with NEITI over the past six years.

“His tenure was marked by significant engagements with NEITI in advancing corporate transparency, public disclosures, and aligning NNPC Ltd. with the global EITI framework,” he said.

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Surgeon Called For Early Medical Intervention To Prevent Complications

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Surgeon Called For Early Medical Intervention

Surgeon Called For Early Medical Intervention To Prevent Complications

Surgeon called for early medical intervention to prevent complications. He called on the government to improve health facilities to prevent citizens from seeking treatment abroad.

Aconsultant surgeon, Jacob Akoh, has advised patients to seek immediate medical help when diagnosed with any illness to prevent termination.

Mr Akoh gave the advice at the Bingham University’s 2nd public lecture, held at the university’s campus in Karu Local Government Area of Nasarawa State on Wednesday.

The theme of the lecture is “Beyond The Operating Room: Reflections of a Surgical Career and Life of Purpose.”

As the guest lecturer and a retired Associate Professor in Europe, Mr Akoh emphasised that early medical intervention was crucial in effectively treating illnesses.

He urged people not to shy away from seeking help when faced with any symptoms, as neglecting health problems could lead to fatal consequences.
“No sickness should be taken for granted; it must be treated immediately,” Mr Akoh stated.

He also dispelled the belief that strange symptoms or illness were merely spiritual attacks, urging individuals to seek proper medical care instead of self-diagnosing or hiding symptoms.

Mr Akoh explained that the lecture was aimed at educating people, particularly in communities, on how to address health challenges and not neglect them.

He emphasised the importance of valuing one’s life and taking responsibility for seeking medical assistance when needed.

He also addressed concerns about the state of the healthcare sector in Nigeria, noting that it was underdeveloped compared to the Western world, in spite of its critical importance.

He called on the government to improve health facilities to prevent citizens from seeking treatment abroad, which negatively impacted the country’s healthcare system.

Mr Akoh shared some of his career successes, including performing multiple kidney transplants in one day, with all surgeries being successful.

However, he also highlighted challenges faced by surgeons, such as patients failing to provide accurate medical records, which could hinder effective treatment.

Surgeon Called For Early Medical Intervention

Surgeon Called For Early Medical Intervention

He urged patients to always provide precise health information to healthcare providers to ensure proper care and fulfilment in medical practice.

Additionally, Mr Akoh reminded medical practitioners to be mindful of their career purpose, stressing the need for active involvement in community health development.

In his remarks, the Vice Chancellor of Bingham University, Haruna Ayuba, commended Akoh for his enlightening lecture.

He acknowledged that although Akoh had spent more than 35 years as a surgeon in Europe, he returned to Nigeria to make a positive impact on society.

Mr Ayuba encouraged scholars and professionals to focus on the purpose of their careers, as it drives passion, motivation during challenges, and inspires excellence.

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