Economy
TETFund Partners NEITI On Data, Information Sharing
TETFund Partners NEITI On Data, Information Sharing
TETFund partners NEITI on data, information sharing. He said TETFund was focused on expanding and improving its revenue collection framework.
The Tertiary Education Trust Fund (TETFund) and the Nigeria Extractive Industries Transparency Initiative (NEITI) have signed a Memorandum of Understanding (MoU) to enhance data and information sharing.
The duo said the partnership is aimed at improving remittances to the Fund and promoting greater transparency in the extractive sector.
Speaking during the signing in Abuja on Monday, TETFund executive secretary, Sonny Echono, said the partnership would deepen accountability, particularly within the oil, gas, and other extractive industries.
“This will ensure accountability, particularly in the oil and gas and other extractive industry sectors, it will ensure that taxes that are due to be remitted to the education tax fund are made.
“Even those that fail to pay are recovered, to boost revenue, to ensure that we are able to fulfill the purpose of Mr President of restoring our institutions in the shortest possible time.
“Being able to have a framework that will enable us to get accurate up-to-date data on what these should be, is something we have been working very hard on.
“It will culminate into a very firm agreement between the two agencies today,” Mr Echono said.
The executive secretary explained that TETFund was not only focused on prudent expenditure but also on expanding and improving its revenue collection framework.
“We are also ensuring how we generate, how we expand the incidents, how do we improve the efficiency of collection of revenue,” he said.
He said that the establishment of a dedicated department of revenue and investment, approved by TETFund’s Board of Trustees, had significantly enhanced revenue performance.
“That has also been one of the reasons why you are seeing very significant improvements in revenue, all across our zonal offices, we have officers located there now who are working with the Federal Inland Revenue Service.
“Their staff deployed in their zonal offices to basically go to every entity that is supposed to be paying tax for the companies registered and eligible to pay tax.
“Confirming if they are paying, verifying whether they are paying the right amount and so on. But there are some that are more difficult, more complicated, like these organisations that are offshore,” he said.
Also speaking, NEITI executive secretary, Orji Ogbonnaya Orji, described the agreement as both “timely and significant,” emphasising its role in ensuring that revenues from natural resources are transparently managed and effectively utilised.
“NEITI and TETFund are united by a common goal, to ensure that revenues earned from Nigeria’s natural resources are not only transparently managed but also efficiently deployed to promote development, and advance our national aspirations,” he said.
Mr Orji explained that substantial revenue accrued to TETFund over the past five years, amounting to approximately ₦1.024 trillion between 2019 and 2023, most of it from the extractive sector.
He, however, clarified that money under accruals was not the same as remittances.
“In 2022, the total revenue accruals to TETFund stood at ₦322.99 billion.”In 2023, that figure rose significantly to ₦571.01 billion, the highest annual inflow to date.
“From 2019 to 2021, NEITI audit data shows that total accruals to TETFund amounted to ₦644.19 billion, of which ₦624.32 billion was disbursed.
“This means that within the last five years alone (2019–2023), total revenue accruals to TETFund from Education Tax reached approximately ₦1.024 trillion, highlighting the centrality of the extractive sector in financing Nigeria’s tertiary education,” he said.
TETFund Partners NEITI
According to him, these funds are drawn from the profits of companies in oil, gas, mining, manufacturing, telecommunications, banking, and other sectors, many of which fall within NEITI’s audit purview.
He said under the MoU, NEITI would work with TETFund to ensure timely and prompt remittances through early deployment of evidence-based data.
“NEITI will also provide real-time information on revenue accruals due to TETFund to guarantee transparency and support the Fund in tracking remittances and utilisation.
“Our joint effort will uplift educational institutions, enhance access to scholarships, and strengthen the research ecosystem across our public tertiary institutions,” he said.
Brazil Fines TikTok $30m Over Failure to Implement Child Safety
Brazil’s data protection agency on Tuesday fined TikTok nearly $30 million for failing to implement child safety measures in what it said was a “powerful signal” to social media companies.
Eereporter.com
Brazil has taken a tough stance on the regulation of social media platforms, cracking down on disinformation and requiring users under 16 years to have their accounts linked to those of their parents.
An enforcement director with the ANPD data protection agency, Fabricio Lopes, told a press conference that TikTok “was not taking the necessary measures to prevent adolescents from accessing the platform and from having the data of these children and adolescents processed.”
This data was “being used to offer advertising to adolescents.”
He said the fine of 153.7m reais ($29.9 million) was a “powerful signal to other platforms regarding how seriously the ANPD takes this work” and that the agency hoped they “get the message.”
TikTok agreed last week to pay $400m to settle a lawsuit with the US Department of Justice over claims that the video-sharing platform collected children’s personal data without parental permission.
– Tougher enforcement –
This month, the ANPD also ordered popular streaming platform Discord to suspend livestreams and video calls after a teenage girl was allegedly encouraged to take her own life during a broadcast.
The agency told AFP that an appeal filed by Discord on Monday against the suspension is under review.
ANPD director Lorena Coutinho said the agency had, last week, initiated proceedings to verify the compliance of 22 social media networks and platforms with a law passed this year to protect children and teens online.
In addition to the fine, the ANPD ordered TikTok parent company ByteDance to delete data collected in violation of regulations.
Coutinho said TikTok had committed to suspend all adverts for users who are not logged in.
TikTok has committed to “implementing a compliance plan to improve the protection of children and adolescents,” the ANPD said.
Brazil Fines TikTok
The platform will be required to automatically apply stricter privacy settings to accounts belonging to children under the age of 16, strengthen parental supervision systems, and implement stricter content filters.
TikTok did not immediately respond to requests for comment from AFP.
In 2024, the platform X was blocked for 40 days in Brazil, until the social media network owned by the world’s richest person, Elon Musk, complied with the Supreme Court’s orders to remove accounts spreading disinformation.
Eereporter.com
Economy
Umahi Leads the Way as Tinubu Orders Immediate Action on Benin-Agbor-Asaba Road Intervention
Umahi Leads the Way as Tinubu Orders Immediate Action on Benin-Agbor-Asaba Road Intervention
The Minister of Works, Senator Engr. David Umahi, CON, has moved swiftly to address the worsening condition of the Ifaki-Kabba-Ado Ekiti road in Ekiti and Kogi States, and Benin-Agbor-Asaba Roads following President Bola Ahmed Tinubu’s directive for urgent intervention to ease the hardship being faced by motorists and commuters.
Eereporter.com
Umahi, who expressed deep concern over the deplorable condition of the road and the suffering of road users who have spent hours and, in some cases, days on the route, said the Federal Government was determined to take immediate corrective measures while working towards permanent solutions.
“President Tinubu, GCFR, has directed the Federal Ministry of Works to urgently intervene and ensure that necessary corrective actions are taken to restore movement on the affected roads as quickly as possible.” Said Umahi
The Minister, in response to the directive, has already set machinery in motion for immediate action.
As part of the intervention, Umahi directed the Minister of State for Works to lead a team of ministry officials to the Ifaki-Kabba-Ado Ekiti axis to assess the situation and commence urgent remedial works.
The assignment is already on as of 10 a.m. on Tuesday, August 25, 2026, with officials of the Ministry on the ground to begin the intervention.
While the intervention team moved into Ekiti and Kogi States, Umahi himself headed to Benin, Edo State, alongside members of the National Assembly Works Committees, to initiate a similar coordinated intervention on the Benin-Agbor-Asaba road.
The Benin meeting is expected to bring together key stakeholders, including representatives of the Edo and Delta State Governments and the Niger Delta Development Commission (NDDC), with the aim of finding immediate solutions to the challenges confronting motorists on the strategic corridor.
Umahi also took responsibility for the unfortunate situation on the affected roads and apologised to commuters who have been stranded or delayed for several hours and days.
Benin-Agbor-Asaba
He assured road users that the Federal Government’s response would go beyond temporary relief, with immediate measures being pursued alongside permanent solutions to restore the affected roads and improve their long-term reliability.
Francis Nwaze
Senior Special Assistant to the Honourable Minister of Works (Media)
August 25, 2026
Eereporter.com
Economy
NNPC Cares: Boost for Nationwide Medical Access as NMSL Deploys Laparoscopic Instrument in Abuja
NNPC Cares: Boost for Nationwide Medical Access as NMSL Deploys Laparoscopic Instrument in Abuja
NNPC Medical Services Limited (NMSL) has deployed articulating laparoscopic instruments at its main hospital in Utako, Abuja. The machine is an advanced surgical equipment designed to enhance precision and flexibility during laparoscopic procedures.
Eereporter.com
The latest deployment widens the range of procedures available at the medical facility and represents a boost for healthcare access in the country.
NNPC
Acting Managing Director / Chief Operating Officer, NMSL, Dr. Dickson Bada, received the equipment from SQI Limited, represented by Dr. Emmanuel Otitoloju.
NNPC Limited continues to invest in its medical facilities, which are open to the public nationwide, towards improving healthcare delivery in Nigeria.
Eereporter.com
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