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The House of Representatives has again queried the N24bn which the Nigerian National Petroleum Corporation claim it incurs monthly on payment of subsidy on imported Premium Motor Spirit popularly known as petrol. The lower chamber described the expenditure as an act of illegality as the funds are allegedly paid without appropriation by the National Assembly. The landing cost of a litre of PMS is said to be N171, leaving a difference of N26, but the government approved pump price is N145.

The price differential and other challenges, including allegations of smuggling by syndicates, leave a monthly subsidy bill of N24 bn. The Chairman, House Committee on Petroleum Resources ( Downstream ), Mr . Joseph Akinlaja, told SUNDAY PUNCH that a full scale investigation into the back door return of subsidy payment would start this week. Akinlaja also confirmed names of officials that had been summoned to appear before the House probe panel. He said the Minister of State, Petroleum Resources, Dr . Ibe Kachikwu; the Group Managing Director of the NNPC, Dr. Maikanti Baru; and the heads of the Pipelines and Products Marketing Company and the Petroleum Products Pricing and Regulatory Agency had been summoned to appear at the session.

Akinlaja reiterated the National Assembly’s stance that subsidy was neither captured in the 2017 budget nor in the 2018 budget still awaiting passage by the legislature. He said, “What they (NNPC) is doing is illegal. We don’t know where the management got the approval to make the payments. “They did not approach the National Assembly for any approval. That is why we say they have questions to answer. They need to tell Nigerians whether subsidy is back? “We have an investigation to conduct and it will start next week ( this week ) for stakeholders to come and talk about this subsidy and other renewed challenges in our oil industry, particularly the supply chain in the downstream sector”

Akinlaja recalled that the NNPC , a government corporation, had been the sole importer of products for several months after private importers boycotted importation. He said reports at the disposal of the committee suggested that the Independent Petroleum Marketers Association of Nigeria; the Depot and Petroleum Products Marketers Association; and the Major Oil Marketers Association of Nigeria were collectively owed N800 bn by the government for previous importation. He added that as a result of the mounting debts , IPMAN , DAPMAN and MOMAN stopped importing products, leaving the NNPC alone to handle the challenge.

The lawmaker added that the surprise now was whether the NNPC was paying subsidy to itself, “ but essentially doing so without authorisation by the National Assembly” He disclosed that the position of the committee had been that the executive should forward a supplementary budget, covering the N800bn, to offset the debts so that the marketers could resume importation. Akinlaja also said that the supplementary budget had yet to come while the NNPC hadn’t sought any approval from the National Assembly.

BIG STORY

Federal Government Lifts Ban On Mineral Exploration In Zamfara

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After more than five years of security restriction, the Federal Government has lifted the ban on mining exploration activities in Zamfara State, citing significant improvements in the security situation across the state.

Making the announcement during a press briefing at the weekend, the Minister of Solid Minerals Development, Dr. Dele Alake stated that the nation has a lot to gain from reawakened economic activities in a highly mineralised state like Zamfara that is imbued with vast gold, Lithium, and copper belts. He noted that the previous ban, which was good intentioned, inadvertently created a vacuum exploited by illegal miners to fleece the nation of its resources. He emphasized that the state’s potential for contributing to national revenue is enormous.

It will be recalled that in 2019, the federal government imposed a total ban on mining activities in Zamfara State due to the escalating security concerns, particularly the links between banditry and illegal mining.

Since the beginning of the Tinubu administration, however, intelligence-driven, coordinated security operations have resulted in the neutralization of key bandit commanders, significantly reducing incidents of insecurity. A recent success was the capture of one of the most wanted bandit commanders, Halilu Sububu, in a covert operation in Zamfara.

“The existential threat to lives and properties that led to the 2019 ban has abated. The security operatives’ giant strides have led to a notable reduction in the level of insecurity, and with the ban on exploration lifted, Zamfara’s mining sector can gradually begin contributing to the nation’s revenue pool,” Alake asserted.

The minister added that the lifting of the ban would also facilitate better regulation of mining activities in the state. This will enable more effective intelligence gathering to combat illegal mining and ensure the country benefits from the state’s rich mineral resources.

Commending members of the fourth estate of the realm for championing the propagation of reforms and initiatives of the ministry in 2024, Alake noted that the press have been key allies in efforts to sanitise the mining sector, and promote market reforms which have made the industry attractive to indigenous and foreign investors.

On the recent controversy surrounding the Memorandum of Understanding (MOU) with France, Alake reaffirmed the Federal Government’s position that the agreement does not imply Nigeria is relinquishing control over its mineral resources or entering into any military pact with France. He emphasized that Nigeria’s military remains fully capable of safeguarding the nation’s territorial integrity.

“The high point of the MOU is on training and capacity building for our mining professionals. We need all the assistance we can get in terms of capacity, technical, and financial support from abroad, and that wasn’t even the first we are signing. We’ve signed similar ones with Germany and Australia. Deliberate peddling of misinformation, despite facts to the contrary, is uncalled for, “the minister emphasised.

Dr. Alake also urged the media to continue to play its crucial role in educating the public about government policies in order to prevent ignorance, mischief, and the spread of misinformation.

Looking ahead to 2025, the minister hinted at upcoming policy initiatives aimed at revitalizing the mining sector. He revealed that the ministry plans to further consolidate reforms, enhance the enabling environment for investments, and continue efforts to reposition the sector for long-term, sustainable growth.

 

Segun Tomori, FSCA

Special Assistant on Media

to the Honourable Minister of Solid Minerals Development

 

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BIG STORY

Emefiele Loses Warehouse Built On 1.925 Hectares To Federal Government

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The Economic and Financial Crimes Commission (EFCC) has secured the final forfeiture of a warehouse linked to Godwin Emefiele, the former governor of the Central Bank of Nigeria (CBN).

According to The Guardian, top sources revealed that Justice Deinde Dipeolu of the Federal High Court in Lagos issued the forfeiture order on Thursday, December 19, 2024, with the property forfeited to the Federal Government of Nigeria.

The warehouse, built on a 1.925-hectare piece of land located at Km 8 along the Lagos-Ibadan Expressway in Magboro, contained 54 general-purpose steel containers.

The containers were filled with various types of sewing machines.

Earlier, on November 28, the judge had ordered the interim forfeiture of the assets after the Commission filed an application for their forfeiture.

Following the court’s directive for the EFCC to publish the order in two national newspapers, allowing any interested party to show cause why the assets should not be finally forfeited, the Commission later returned to court to request the final forfeiture of the assets.

According to the source, the court also ordered the forfeiture of the land on which the warehouse is situated to the government.

“At the resumed hearing of the matter on Thursday, EFCC Counsel, Rotimi Oyedepo, SAN, told the court that the EFCC had complied with the court’s directives to publish the assets in two national newspapers,” the source said.

“Citing Section 44(2)(B) of the constitution and Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act 2006, he prayed the court to grant the final forfeiture of the assets.

“Justice Dipeolu granted the order, making the forfeiture another milestone in the asset recovery drive of the EFCC.”

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BIG STORY

10 Feared Dead, Several Others Injured At Catholic Church’s Palliative In Abuja

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A stampede at the Holy Trinity Catholic Church in Maitama District of Abuja on Saturday morning has resulted in several deaths and numerous injuries.

The tragic incident occurred during a palliative distribution event organized by the church to assist struggling residents.

It was reported that chaos erupted as thousands of residents rushed to receive relief items, leading to the deadly crush.

Over 3,000 people, including children, mostly from nearby areas such as Mpape and Gishiri Village, had gathered for the event before the unfortunate incident took place.

Mike Umoh, the National Director of Social Communications at the Catholic Secretariat of Nigeria, confirmed the incident.

“Yes, it’s true, but the details are sketchy,” he said in a brief statement.

On the same Saturday, a stampede in Okija, a community in Ihiala Local Government Area of Anambra State in Nigeria’s South-east, also left many people dead.

According to Premium Times, witnesses reported that the victims had gathered to participate in the distribution of bags of rice donated by a well-known entrepreneur, Ernest Obiejesi, commonly referred to as Obijackson.

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