Economy
NEITI plans Review Of $6bn Divestments By 5 IOCs

NEITI Plans Review Of $6bn Divestments By 5 IOCs
NEITI plans review of $6bn divestments by 5 IOCs. NEITI has announced a review of divestments involving 26 oil blocks worth $6.03 billion by five IOCs.
The Nigeria Extractive Industries Transparency Initiative has announced a review of divestments involving 26 oil blocks worth $6.03 billion by five International Oil Companies.
The executive director of NEITI, Orji Ogbonnaya Orji, disclosed this during its first quarter media briefing in Abuja.
The transactions include notable sales such as Shell to Renaissance ($2.4 billion), ExxonMobil to Seplat ($1.28 billion), and TotalEnergies to Chappal ($860 million).
Mr Orji said the oil and gas divestments were reshaping Nigeria’s industry, hence the need to ensure that the divestments adhered to due process.
He said NEITI would strengthen collaborations with the Nigerian Upstream Petroleum Regulatory Commission and the Nigerian National Petroleum Company Limited to ensure full disclosure of financial, social, and environmental aspects of divestments.
“NEITI recognises the urgent need for transparency in these transactions to protect national interests, host communities, and revenue flows.
“To achieve this, NEITI will expand industry reports to include dedicated sections on divestments. We will intensify collaboration with NNPC Ltd. and other government agencies to disclose forward sales data.
“NEITI will promote greater public awareness and engagement in asset transfers and ensure transparency in forward sales (pre-sales of crude oil and gas) to impact government revenues and fiscal stability,’’ he said.
Mr Orji, while emphasising ensuring due process and proper environmental remediation in these deals, expressed concerns over unresolved environmental issues in oil-producing communities.
He called for collaboration with regulatory bodies such as NUPRC and the Ministry of Environment to ensure transparency and enforce accountability for clean-up costs and remediation efforts.
Mr Orji expressed concern that some of the divestments might not have properly addressed environmental issues raised by oil-producing communities.
Also, following complaints of inadequate supply of crude oil by local refineries, NEITI said it would review the forward sales of Nigeria’s crude oil by the Federal Government in exchange for loans.
He stated that Nigeria had earned $831 billion from oil and gas in the past 23 years when NEITI began the conduct of the audit of the sector.

NEITI
He also disclosed that over $4.85 billion had been recovered from the disclosures of $8.26 billion made in its 2021 oil and gas report.
“As we commence the 2024 Oil, Gas, and Solid Minerals Reports, we will expand our reporting framework to address forward sales and pre-export financing transactions,” he said.
The executive secretary said while Nigeria had made progress in ensuring transparency in the oil and gas and solid minerals sectors, a lot of work still needed to be done regarding institutional constraints and funding limitations.
Economy
Bauchi Government, UNICEF Sign Agreement To Boost Child Welfare

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
“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.
Economy
NEITI Urges New NNPC Boss On Transparency, Accountability

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
“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.
Economy
Surgeon Called For Early Medical Intervention To Prevent Complications

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
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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