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NEITI: Obasanjo, Yard’Adua, Jonathan Administrations Squandered Over 70trn Oil Money

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neiti-waziri-adioExecutive Secretary of the Nigeria Extractive Industries Transparency Initiative (NEITI), Waziri Adio, on Tuesday disclosed that the administrations of Presidents Olusegun Obasanjo, late Umaru Musa Yar’Adua and Goodluck Jonathan squandered over N70 trillion earned from sale of crude oil and gas between 1999 and 2014.

While Obasanjo was in office for eight years (1999-2007), his predecessors, Yar’Adua and Jonathan, were in office for three (2007-2010) and five years (2010-2015) respectively.

Mr. Adio, who made this known in his office when the Senate Committee on Federal Character and Inter-Governmental Affairs visited him during an oversight function, warned that unless the country comes up with a prudent way of expenditure, it was likely to be in difficult times in years to come.

The NEITI boss noted that it was unfortunate that despite the huge earnings from sales of crude oil over the years, the country was unable to account for over $100 billion in the excess crude account.

He, therefore, urged the Federal Government to develop a saving culture that would ensure a slash on government’s spending.

He said: “Let me inform the committee that we discovered that between 1999 and 2014, the country spent over N70 trillion it received from oil and gas alone. That is a whole lot of money. What is sad is that it was spent without the country being able to show anything for it. I think it is quite unfortunate.

“For the sake of emphasis, however, I think if previous administrations had developed a culture for prudent management of resources, Nigeria ought to have over $100 billion saved in the excess crude account.

“So, going forward, it is necessary for government to think about saving a lot more, and do all it can as well to cut down on wasteful spending, if the nation must make progress”.

On the challenges confronting the agency, Adio told the committee that the country risked suspension from the global Extractive Industries Transparency Initiative (EITI), if NEITI failed to complete its audit report by a given deadline, which comes up in December.

The NEITI boss lamented the paucity of funds in the agency due to late releases by the Ministry of Finance.

He blamed lack of funds for the inability of the agency to conclude work on its audit report to the EITI.

He noted that should Nigeria be suspended from the world body as a result of the agency’s failure to meet the December deadline, the development would be an embarrassment on the image and reputation of the country.

Earlier, Vice Chairman of the Senate Committee, Senator Suleiman Hunkuyi (APC/Kaduna North), noted that the committee would require the effort of NEITI to close the communication gap between the agency and the upper chamber with a view to ensuring effective collaboration.

He said that NEITI is the second agency of government among others that has not received its capital releases adequately.

Sen. Hunkuyi described the development as “a misnomer”.

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Nigeria’s Communications Minister, Isa Pantami, Loses 13-year-old Daughter

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Nigeria's Communications Minister, Isa Pantami, Loses 13-year-old Daughter

Communications minister, Isa Pantami

Minister of Communications and Digital Economy, Isa Ali Pantami, has announced the loss of his 13-year-old daughter, Aishah Isa Ali.

The Minister took to his Twitter account on Monday night to announce this sad news.

Pantami stated that the funeral prayer for the deceased will be conducted in Abuja on Tuesday at Annur Masjeed, Wuse 2.

Also Read: Gunmen Evict NIDCOM Staff From Office On Minister’s Order

The post by the minister announcing the incident reads; “Inna lil Laahi wa inna ilaiHi Rajiun! My 13-year old daughter, Aishah Isa Ali (Amal) passed away just a moment ago.

“Due to some necessities, funeral prayer tomorrow at Annur Masjeed, Wuse 2, immediately after Zuhr prayer In sha Allah. May Allah forgive and be merciful to her.”

 

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Cult Violence: Wike Imposes Two-Week Curfew Around Okoro-Nu-Odu

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Cult Violence: Wike Imposes Two-Week Curfew Around Okoro-Nu-Odu

Governor Wike

Governor Nyesom Wike of Rivers State has imposed a 24-hour total curfew for two weeks on some parts of Port-Harcourt, the state capital.

The Governor made this known during a broadcast on Sunday where he noted that the curfew begins from Monday 23rd November 2020.

The statement noted that the upsurge noticed by the state government in cases of cult activities, other forms of violence, and killings is responsible for the curfew.

Also Read: Umahi Unhappy With PDP Because Atiku Picked Peter Obi – Wike

Wike in the statement declared that the entire area along and around the Okoro-nodu flyover up to a one-kilometre radius from Saint Emmanuel Anglican Church, Rumuokoro, extending to the Rumuodomaya Slaughter and Local Government daily market will be affected.

He added that no form of trading, human or vehicular movement is allowed in the affected areas until further notice.

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Zamfara Governor Secures Release Of 11 Kidnapped Victims

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Zamfara Governor Secures Release Of 11 Kidnapped Victims

Bello Matawalle

Governor of Zamafara, Bello Matawalle has announced the release of 11 kidnapped victims.

According to reports, ten of the victims were male and a female from Bukkuyum Local Government Area.

Matawalle received the rescued kidnapped victims on Saturday night at the Government House in Gusau, the state capital.

The Commissioner of Security and Home Affairs, Abubakar Muhammed Dauran revealed that the victims were released without paying a ransom.

Also Read: Nigeria still needs SARS, Zamfara gov, Matawalle insists

He stated they were released as a result of the peace initiative and stakeholders meeting summoned by Governor Matawalle with all critical stakeholders from Bukkuyum Local Government Area on Thursday.

Governor Matawalle assured that his administration will not rest on its oars until total peace is achieved in all parts of the state.

 

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