Connect with us

News

Nigeria Earned N28.6trn From Oil, Non-Oil Sources In Five Years -NEITI

Published

on

The Nigeria Extractive Industries Transparency Initiative (NEITI) said that N28.58trillion was remitted to the Federation Account between 2012 and 2016, from mineral revenues, non-mineral revenues and Value Added Tax (VAT).
NEITI disclosed this on its latest Fiscal Allocation and Statutory Disbursement (FASD) Audit report for the period 2012-2016, released in Abuja, yesterday.
It noted that apart from remittances to the Federation Account, the audit tracked statutory allocations and their applications with specific focus on nine states, four interventionist agencies, and five special funds.
The statement was signed by its Director of Communications and Advocacy, Dr. Orji Ogbonnaya Orji.
The nine states covered were Rivers, Bayelsa, Akwa Ibom, Nasarawa, Delta, Ondo, Imo, Kano and Gombe.
It also listed the federal agencies as Niger Delta Development Commission,( NDDC); Petroleum Technology Development Fund( PTDF); Tertiary Education Trust Fund (TETFUND); and Petroleum Products Pricing Regulatory Agency (PPPRA).
It further identified the special funds as Natural Resources Development Fund (NRDF); Petroleum Equalisation Fund (PEF); Excess Crude Account (ECA); Ecological Fund (EF), and Stabilisation Fund (SF).
Giving a breakdown of the N28.58 trillion remitted to the Federation Account, NEITI noted that mineral source contributed highest sum of N18.15 trillion, after deductions for joint venture cash calls and subsidy claims.
This represented 64 per cent of the total earnings, followed by non-mineral source N6.68 trillion, representing 23 per cent, while value-added tax (VAT), was put at N3.73 trillion, representing 13 per cent.
“A year–by–year breakdown of the total remittances showed that N4.19 trillion was remitted in 2012, while N4.73 trillion was recorded in 2013.
“Furthermore, N4.69 trillion was recorded in 2014 while N2.89 trillion and N1.65 trillion were remitted in 2015 and 2016 respectively.
“Analysis of the N18.16 trillion mineral revenues shared among the three tiers of government showed that Federal Government received N8.32 trillion from 2012 – 2016, the 36 state governments shared N4.22 trillion.
“The 774 local governments got N3.25 trillion. This is exclusive of N2.36 trillion 13 per cent derivation to the oil, gas and mining producing states,” it said.
The report also disclosed that from the share of non-mineral revenues of N6.68 trillion, the Federal Government received N3.52 trillion, while the 36 states got N1.79 trillion and 774 local governments took N1.38trillion.
“The total VAT revenue of N3.73 trillion was shared as follows: FGN – N560 billion, 36 States – N1.88 trillion and 774 LGAs – N1.31 trillion.
“Out of the N18.15 trillion recorded from mineral revenue within the period, highest receipt of N4.73 trillion representing about 26.07 per cent was recorded in 2013. It, however, noted that the plunge in global oil revenue from 2015 negatively affected mineral revenue remittances within the period.
“There was a decrease in global oil revenue from 2015 which accounted for the decrease in mineral revenue from N4.69 trillion in 2014 to N2.89 trillion in 2015 and to N1.65trillion in 2016,” it added.
NEITI further stated that out of total mineral revenue, the Nigerian National Petroleum Corporation (NNPC) remitted N8.62 trillion, the Department of Petroleum Resources (DPR), remitted N3.80 trillion, while Federal Inland Revenue Service (FIRS), remitted N10.46 trillion.
It noted that NNPC remittances were highest in 2012 while its Joint Venture (JV) cash calls were highest in 2014.
“NNPC’s net remittances to the Federation Account reduced from N2.38trillion in 2012 to N789billion in 2016.
“Out of the N18.16 trillion mineral revenues remitted in the period 2012 to 2016, the year 2013 accounted for the highest receipt of N4.73 trillion.

Continue Reading

News

Council Boss Sues For Love, Unity

Published

on

As Christians across the world celebrate the resurrection of Our Lord Jesus Christ, the Administrator of Opobo/Nkoro Local Government Council of Rivers State, Mr. Frederick Apiafi, has advised Nigerians to love one another.
Mr. Apiafi said the period should be used for sober reflection and demonstration of love, unity and  embracing the message of Easter.
This was contained in his Easter message and made available to media houses yesterday, saying that the resurrection of Jesus Christ has equally given birth to a new season of faith, hope , sacrifice and prosperity.
The administrator  further used the forum to call on all indigenes and those doing business in the Local Government Area to be their brothers’ keeper at all times.
“As we celebrate the crucifixion and Resurrection of our Lord Jesus Christ, let us  soberly reflect and demonstrate love and unity  particularly indigenes of Opobo/Nkoro,” he said.
Mr. Apiafi reiterated that welfare of workers and the good people  of  the  area would be paramount in his administration.

Continue Reading

News

Gunmen Abduct Six Travellers In Kwara

Published

on

Seven passengers travelling from Abuja to Kwara State were abducted on Saturday along Obbo-Ayegunle road in Ekiti Local Government Area of Kwara State.
Three children of the abducted victims were, however, later released by the unidentified kidnappers, according to reports reaching The Tide’s source in Ilorin yesterday.
The abduction occurred between 17:00-18:00 hours, while the passengers were on board a Sienna vehicle owned by Olumoh Express transport company, heading to Offa from Abuja.
All attempts made so far by the local vigilante to rescue the victims were unsuccessful.
Spokesperson of the state police command, SP Adetoun Ejire-Adeyemi, confirmed the development.
“Armed hoodlums numbering about eight reportedly intercepted a Sienna bus registered FFA 50XD, heading to Offa from Abuja and forcefully abducted seven occupants including the driver.
“Upon receipt of the information, police operatives in collaboration with local vigilantes, responded swiftly to the scene.
“The vehicle was recovered to the nearest police formation. During a coordinated search of the surrounding bush, three children aged between two and 12 years were located and safely rescued.
“One of the children was able to give the police detailed information of her guardian who was contacted and the three rescued children have been reunited with their relatives,” the statement added.
The command said it has intensified efforts through discreet investigation, intelligence gathering and sustained bush combing to track down the perpetrators and secure the safe rescue of the remaining victims.
Commissioner of Police, Adekimi Ojo, reiterated the commitment of the command to the safety and protection of all residents, urging those with useful information to report through the established channels of the state police command.

Continue Reading

News

HYPREP Moves To Complete Ongoing Projects This Year

Published

on

The Hydrocarbon Pollution Remediation Project (HYPREP)  has set machinery in motion to complete ongoing projects this year in line with its new policy thrust.
The Project Coordinator of HYPREP, Prof Nenibarini Zabbey, who gave this indication while addressing participants during the Project’s first quarter interactive session with Ogoni youths in Port Harcourt, said the agency is this year, drawing from a new policy thrust that prioritises timely completion of all projects within stated timelines.
The Project Coordinator noted that as a community-based project, HYPREP understands the urgency of protecting the environment and improving livelihoods in line with its mandate.
He disclosed that the Centre of Excellence for Environmental Restoration(CEER) for example, is currently being painted,  as part of its final finishing works, stressing that HYPREP is ensuring that the centre is commissioned this year for public use.
According to him, the Technical Planning Committee for the CEER had  submitted its report which contains various recommendations for the operationalisation of the centre.
He further disclosed that the shoreline remediation project is at a completion rate of 39.4 percent, saying, HYPREP has in this area recovered, evaluated and treated over 937,000 litres of oily sludge from the mangrove sediment, as well as evacuated over 1.7million kilogrammes of solid waste from the Ogoni creeks.
According to him, the mangrove restoration project has reached 86 percent completion rate, while the monitoring of the planted mangrove grids is progressing well.
He said HYPREP has also initiated a practical framework for long-term monitoring to ensure the Project’s objectives are met.
The Project Coordinator said HYPREP has achieved significant milestones in the ongoing construction of new water facilities in Ogoni communities, stressing that it is determined to commission the new water facilities in the various communities in the third quarter of this year.
He assured the participants that HYPREP would commission water facilities  every two months in Ogoni communities.
Zabbey announced that the Creative Arts training for more Ogoni youths would begin in the second quarter of the year, while other array of interventions to support small and medium scale businesses would be rolled out in the coming weeks.
He revealed that the construction of the Ogoni Specialist Hospital has advanced to a completion rate of 70 percent, while that of  Buan Cottage Hospital has reached 93.8 percent.
He also disclosed that in March, the Project Coordination Office took delivery of the first batch of equipment and electrical parts for the Ogoni Power Project, and expects further deliveries in this second quarter.
Zabbey said HYPREP has also deepened its engagement with critical stakeholders, including Ogoni youths and women, adding that this periodic interactive session remains a key part of its yearly work plan to ensure that their voices are heard.
He hinted that some selected youth leaders would benefit from the second batch of the Ogoni traditional rulers and other key stakeholders workshop on mechanism for alternative dispute resolution.
At the interactive session, Dr Sorbarikor Lebura of the Rivers State University delivered a keynote address on how to be on the right side of history, and encouraged Ogoni youths to always strive to be on the right side of history through their actions.
On her part, HYPREP’s Head of Sustainable Livelihood, Mrs Josephine Nzidee told the participants that the project is working hard to close out on the training of 5,000 Ogoni youths and women by ensuring that all trainees get their starter packs.
She  assured persons living with disabilities in particular that HYPREP would provide more empowerment opportunities to them.
Also, the Head of Potable Water Unit, Mr Lucky Ikue announced that the Terebor water scheme, which had been out of use for some time now, due to technical glitches, would be functional soon, as the station manager has been relieved of his duties.

By: Donatus Ebi

Continue Reading

Trending