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FAAC Uncovers N37.76bn Shortage In NNPC’s Revenue
The monthly Federal Account Allocation Committee (FAAC) meeting, which began yesterday was inconclusive due to discrepancies of about N37.76 billion in revenue presented by the NNPC, as representatives of the 36 states and the Federal Capital Territory, Abuja returned home yesterday disappointed as the Federation Accounts Allocation Committee (FAAC) meeting ended in confusion in Abuja amid disagreements over revenue figures presented by the Nigerian National Petroleum Corporation (NNPC).
The meeting, convened to consider and approve statutory revenue allocations for February, came to an abrupt end on a note almost becoming a familiar refrain for NNPC in recent times.
About an hour after the inconclusive meeting, the finance minister, Kemi Adeosun, announced it would continue on Wednesday morning. She also said she would hold a crucial meeting with the NNPC chief.
Last December, the FAAC meeting was equally stalemated, as members could not reconcile the revenue figures presented by the national oil company, which told a shocked nation at the height of a recent fuel crisis it spends N774 million daily to guarantee steady supply of petroleum products.
With a free pass granted the corporation to deduct as operational cost whatever expenses it incurs from fuel supply before remitting the balance to the Federation Account, close watchers of NNPC operations said Tuesday’s crisis was expected.
During the meeting, representatives of the states, consisting accountants-general and commissioners of finance, said it was their consensus not to approve the allocations to the three tiers of government for the month.
They described the discrepancies in revenue figures presented by the NNPC as a bad omen to workers in the country who may have to go without salary for the month until the issue is resolved.
The Accountant-General of the Federation, Mr Ahmed Idris told newsmen in Abuja, that the meeting was inconclusive because of irregularities in figures presented by the NNPC.
“Obviously, you are all aware that anything that has to do with federation revenue is statutory and, therefore, constitutional and we must always verify our figures to the last kobo.
“Failing to do so will amount to committing illegality and unconstitutionality. “It is on this note that we observe some issues in the figures given by one of the major revenue generating agencies namely the NNPC.
“The committee is of the opinion that until and unless these figures are reconciled, corrected, verified and factual; we cannot distribute the revenue as the case is.
The Accountant-General of the Federation, Ahmed Idris, who confirmed the development to reporters shortly after the meeting, at the headquarters of the Federal Ministry of Finance, Abuja, said a new schedule for the meeting would be communicated on a later date.
Mr Idris said the decision to postpone the meeting followed the discovery of “understated revenue” remitted by the NNPC into the Federation Account.
“We have just retired out of the Federation Accounts Allocation Committee meeting for the month of March where we considered the revenue figures for the federation for the previous month of February.
“Let me again be quick to inform Nigerians that we are sensitive with the issue and to the fact that state governments may find it difficult without this money. “But we have to follow the constitution and the laws for distribution of revenue,’’ he said.
Also, the Chairman, Forum of FAAC Commissioner, Mr Mahmoud Yunusa, said the forum rejected the amount presented by the NNPC because it was far lower than what was projected for the month. He argued that if the NNPC could not surpass what they presented in February, then they should not present anything less than what they presented the previous months.
“We started this meeting last week and NNPC did not submit their figures until yesterday (Monday), which we were not able to review until this morning.
“This morning when we were reviewing the figures as presented by the NNPC, it came as a great surprise to see that the amount was less than N100 billion. “So we (states) decided that we will not collect the amount presented, “We are contesting the figures because pipeline vandalism has reduced, while crude oil prices have continued to go up.
“On this note, we are wondering why the nation cannot raise enough money through that sector to share to states so that everyone can pay workers, contractors and so on. “We are well aware that this development may affect the payment of salaries in states, but we cannot hurriedly accept this money and then later cry foul play. “So, we should all be patient.
But we hope that with this latest development, NNPC will do the needful as soon as possible,’’ he said. Meanwhile, in a document obtained by the our correspondent, the NNPC paid in N74.06 billion into the federation account as oil revenue generated in the month of February, to be shared in March.
“Compared to the collection of N111.84 billion in Jan. 2018, the February collection of N74.06 billion is lower by N37. 76 billion or 33 per cent. “We were unable to meet the approved budget as a result of low collection from Concession Rentals and Petroleum Sharing Contracts (PSC) Royalty.
“We wish to note that the sum of N30.5 million for the Misc Oil revenue and N6.11 million for Gas Flared are on transit at the end of Feb. 2018.
“Furthermore, we received $16. 56 million out of the $85.94 million expected from PSC and MCA lifting for the month under review, therefore leaving $68.65 million as outstanding,’’ NNPC said.
News
Our Govt’ll Eventually Triumph, Fubara Assures Rivers People …Inaugurates Govt House Staff Quarters
Rivers State Governor, Sir Siminalayi Fubara, has declared that despite the unceasing antagonism against his administration, the course of governance is irreversible, and victory is assured for the State.
The Governor, who noted how the news of the judgment of the Supreme Court dampened the spirit of most Rivers people, charged them to brace up because what is ahead is more than what just passed.
Governor Fubara gave the assurance while inaugurating the Rivers State Government House Staff Quarters, reconstructed by his administration, along Forces Avenue (opposite Government House), Old GRA, Port Harcourt last Monday.
He noted that as humans, they may have felt disturbed by the Apex Court’s pronouncements, but advised them to realise that God, who has their back, will accomplish His purpose.
He said, “Our back is not on anybody; it is on God. I want to thank you for your support, and assure you that, if there is one person on this planet Earth that will continue to stand by you, I will be that person.
“I assure you that I will lead you with honour, I will lead you with respect, and I will lead you with integrity, knowing that when I leave here, I would have questions to answer, if I am called upon 20 – 30 years from today. I want to be proud to defend my position. So, I thank you and assure you that I will not disappoint you.”
Governor Fubara, however, emphasised that no matter how much the adversaries have tried to fool the State, the time has fully come for Rivers people to take their destinies in their hands.
The Governor, who clarified that he has never subscribed to violence or asking people to indulge in lawless acts, warned that his administration will not look away when haters of the State struggle to unlease violence in the State.
He said, “No matter how we’ve been fooled in this State, it has gotten to a point when the people have to decide to take their destinies in their hands.
“Inasmuch as I don’t subscribe to violence, when the time comes for us to take a decision, I will lead the course for that decision. Let me say it again: I am not scared of anything, the worse that will happen is for me to leave the office. Am I leaving the earth? Is it going to stop me from existing?
“So, I am not even bothered about that. But the right thing must be done, and must be said when the opportunity is given to us. Let me thank everyone, more especially our youths. Be strong, don’t be perturbed. I assure you, at the right time, you will hear from us.”
Governor Fubara pointed to why it has to be on record and known by everybody that the interest of Rivers State remains his top priority, quickly emphasising that he will not hesitate to pay the supreme price, if it is so required.
But, Governor Fubara noted that his strength is in the supreme God and all Rivers people who love the State, and are interested in its progress and peace, counselling them to know that there is honour and glory in fighting gallantly, being on the side of truth.
Governor Fubara pointed attention to the Holy Scripture, quoting Philippians 3 verse 18-19, which said: “For as I have often told you before, and now, I tell you again, even with tears, many live as enemies of the cross of Christ. Their destiny is destruction, and their god is in their stomach, and their glory is in their shame, their mind is set on earthly things only.”
The Governor stated: “Just like the word said, we are not after our stomach, we are after the joy of our people, that at the end of the day, what will count for us is the lives that we have touched genuinely, the legacy we leave that will speak for us, that will open doors for our children, the generations yet unborn.
“Knowing that and having that in mind, it spurs us, it forces me, as a person, to stand on the side of right, to do good, to stand on the side of truth that even if anybody calls me tomorrow, I should be bold to defend my actions.”
Commenting on the project, Governor Fubara expressed delight that his administration was foresighted to have conceived the project, executed it, and, by the special grace of God, is dedicating it to the glory of God for use by the workers.
Governor Fubara stated that what has been achieved: the staff quarters and other projects lined up for inauguration, as proof against what has been said in some quarters, that there is good governance on course in the State.
He said, “Here is a legitimate, purpose-driven governance in Rivers State, and we are here to display, genuinely, not because of our own selfish interest, one of those things that this government has done to show that we appreciate, understand the need, and must continue to do what is right for our people.
“When we came on board, this building was a dilapidated building, completely unhabitable. We felt we must add value, which is the basis of our governance, to what we met, and we decided that, look, our staff can’t be living in uncomfortable place, they can’t leave like animals while I leave in big comfortable place.
“How would I get efficiency from my workers if they are not happy, and the government decided to embark on this project. I am happy that the contractor delivered it within the time limit.”
Governor Fubara thanked the elders of the State who have continued to provide support and stand with his administration, and assured them that he will not disappoint their expectation of providing good governance to the State.
In his address, Chief of Staff, Government House, Rt. Hon. Edison Ehie thanked the Governor for embarking on the reconstruction of the project, and for tastefully furnishing the facility to make living comfortable for workers.
Providing the project description, Permanent Secretary, Government House, Mr Chukwuma Ndudi Augustine, said the project was awarded on June 6, 2024 to Monier Construction Company (MCC), and today, staff of government will have a more comfortable accommodation that will impact positively on their productivity.
He stated: “The Government House Staff Quarters has 6 numbers of two bedroom, 11 numbers of one bedroom, 11 numbers of Boys Quarters. Hostel A has 32 bed spaces, Hostel B has 30 bed spaces. There is canteen, cafeteria, gymnasium – fitness centre where staff will be exercising themselves, mini basketball court, a soundproof power generating plant, water tank. The contract is completed, and contract sum fully paid.”
The outgoing Vice Chancellor of the Rivers State University (RSU), Port Harcourt, Prof. Nlerum Okogbule, has commended the Rivers State Governor, Sir Siminilayi Fubara, for his support towards the successful completion of his tenure.
Okogbule said he owed the governor a debt of gratitude for his support to his administration and his decision to allow him continue from office as the Vice Chancellor despite being appointed by Fubara’s estranged godfather and predecessor, Nyesom Wike.
The outgoing Vice Chancellor stated this during a valedictory press briefing held at the university’s auditorium to give account of his five-year single tenure as the Vice Chancellor of the university.
“The essence of this briefing is to give account of my stewardship, achievements and challenges within the period under review.
“First, let me thank the Almighty God for seeing me through in good health despite the office challenges. He has really been faithful. My appreciation also goes to the two governors who are visitors to the university for appointing me and for as well, allowing me complete my tenure,” he said.
Okogbule expressed joy for the opportunity given to him to serve the State, saying he was bowing out from the office as a fulfilled man who has served meritoriously and also achieved a lot in the development of the institution.
He noted that RSU became one of the best universities in the country under his watch and listed the establishment of the school’s satellite campus in Etche, Emohua and Ahaoda as part of his achievements.
According to him, academic activities in those satellite campus are in their third years.
“We could not complete that of Keren in Khana Local Government Area because we could not complete the remodeling of the campus; so the students will continue to remain at the main campus,” he added.
Okogbule also pointed out that the graduation and induction of first set of medical nurses and midwifery students took place during his administration, while also achieving full accreditation of many courses for the university.
On the challenges faced by his administration, the Vice Chancellor identified lack of funding and power supply as major constraints, and advised his successor to look for alternative sources for power generation.
He expressed appreciation to his management team, staff and students including the media for the support given to him during his tenure and urged them to extend same to his successor.
Prof. Okogbule’s five-year single term comes to an end today, having been appointed on March 5, 2020 by the former governor of the State, Nyesom Wike.
Amadi Akujobi
A renowned lecturer at the University of Port Harcourt, Prof. Bourdillon Omijeh, has called on universities to upscale their academic curriculum to keep up with the advancement of Artificial Intelligence (AI).
Omijeh stated this while delivering the 196th Inaugural Lecture of the University of Port Harcourt, last week.
Speaking on the topic: “Embedded Systems, The Game Changer On Modern Industrialisation”, he discussed what he described as Education 4.0, emphasising the need to integrate digital and innovative skills into education to keep up with rapid technological changes with Artificial Intelligence.
“Education 4.0 has to do with education in the fourth industrial revolution, whereby you have build in the emerging digital skills. The jobs that are available now, in the next few years, will phase out, because we are now in the era of full automation.
“Artificial Intelligence is taking the whole lead, and so we need to develop manpower for industry. If we go to the oil and gas today, it is a transformed oil and gas system, whereby all the things that would have been done mechanically are being done automatically”, he said.
Omijeh called on government to prioritize human capacity development, saying that while infrastructural projects may face setback, investing in youth education and equipping students with relevant technological skills will enable them to earn livelihood during their studies.
He stressed the importance of acquiring practical skills alongside formal education, adding that relying solely on academic certificates will no longer be sufficient in today’s fast-changing digital landscape.
In his speech, the Vice Chancellor of University of Port Harcourt, Prof. Owunari Georgewill, highlighted Prof. Omijeh’s impact on the school.
“Prof. Omijeh is a game-changer. He has attracted so much to the university in terms of collaboration. And I must tell you, do not think it is easy that you make people from outside the country come here, bring equipment, bring money, trust you enough to say you can carry out research and give them results.
“You know we are in an era of digital transformation and so every curriculum must take into cognizance the fact that the digital transformation has come to stay.
“So, in whichever way you want to teach, in whichever way you want to research, you must think digital as the way to go. So, embedded systems have come to stay in the University of Port Harcourt”, he said.
The lecture showcased Prof. Omijeh’s research breakthrough in embedded systems, emphasizing their impacts on industrial revolution, community development and global recognition.
His innovations include GSM-based control device for home appliances, GSM-based remote control robotic car, among others.
The Inaugural Lecture recommended that the federal government should invest massively in Education 4.0 and the production sector of the economy, fund start-ups, innovation hubs and create smart factories.
It also recommended for improved curriculum and teaching methodology for embedded systems and emerging technology, among others.