₦airaland Forum

The youth want full incorporation into the oil and gas industry.

Niger Delta Youth Warns Nigeria: Next Phase Of Militancy Will Be Tough

Niger Delta youth on Thursday warned Nigerian government and international oil and gas companies, IOCs, to expect a tough battle in the emerging phase of militancy in the region if they are not prepared to accommodate its former members who have acquired various skills under the Amnesty programme. "We are moving to a new phase of militancy in the Niger Delta," the Technical Assistant in the office of the Special Adviser to the President on Niger Delta, Lawrence Pepple, said.

"This is a phase where the fight would not be with arms and ammunitions, but with skills, intellectual capacity and ideas. We are not blackmailing anybody. But, let it be known that it will tough, if adequate preparations are not made to accommodate them," he added. Mr. Pepple said in Abuja at the closing session of the 2013 Nigeria Oil & Gas, NOG, conference and exhibition that the next phase of the campaign would not involve arms, but use of vocational skills and intellectual capacity acquired from the various trainings at home and abroad under the amnesty programme.

Mr. Pepple said the campaign by the former militant groups, which resulted in Nigeria losing more than half of its 2.3 million barrels per day crude oil production capacity and more than N3 trillion revenue, was as a result of the lack of positive engagement of the youth of the region. With the amnesty programme, he said about 30,000 ex-militants, who renounced militancy to embrace the government’s gesture, have enlisted in various training programmes, with over 9,000 of them graduating with skills in various fields related to the oil and gas industry.

At the moment, he said the list of qualified graduates under the Amnesty programme that has been submitted to the local content office include about 229 of those with fabrication and welding certificate; 299 with boat building certification, while 250 graduated with certification in pipe fitting. Mr. Pepple said with such abundant skills and qualified people in Port Harcourt, Yenagoa and other parts of the region, the government and its IOCs would be expected to consult the local content office first to cross check available skills and expertise before going abroad to source for such skills to execute their contracts and projects.

"Graduates from the Amnesty Programme are to strengthen the local content development policy of the government to make it succeed. This means that whenever there is a project, the Amnesty Office must be consulted to confirm there is no qualified person in that area before they go outside. The Niger Delta cannot afford to have about 30,000 qualified youths looking for jobs, while it still allow people to be brought from outside to do such jobs. All stakeholders must everything possible to see that this is reduced to the barest minimum," he said.

The Executive Secretary, Nigerian Content Development Monitoring Board, NCDMB, Ernest Nwapa, who reviewed the progress of the Board since its inception, said government would do everything to ensure that qualified beneficiaries under the amnesty programme are carried along in its efforts to find lasting peace in the region. Mr. Nwapa, however, expressed fears about the proposal that only qualified hands from a particular community must be used to execute contracts in the industry, pointing out that it would be difficult and counterproductive, as some communities may not allow persons from other communities engaged in projects, even when they do not have qualified persons for the job.

Move over, Oprah Winfrey – there is a new richest black woman in the world. And she’s Nigerian.

The latest Forbes list, a credible rating scale for rich people in the world has listed Folorunsho Alakija as one of the richest women in Africa. Folorunsho Alakij was one of the two women who made the list, ranked 24th with a net worth of $600 Million from her oil business.

Meet Folorunsho Alakija, a Nigerian billionaire oil tycoon, Fashion designer and philanthropist who is worth at least $3.3 billion- contrary to a recent Forbes Magazine ranking which pegs her net worth at only $600 million.

Alakija, 61, was born into a wealthy, polygamous Nigerian family. She started out her professional career in the mid 70s as a secretary at the now defunct International Merchant Bank of Nigeria, one of the country’s earliest investment banks. In the early 80s, Alakija quit her job and went on to study Fashion design in England, returning to Nigeria shortly afterwards to start Supreme Stitches, a premium Nigerian fashion label which catered exclusively to upscale clientele.

The business thrived, and Alakija quickly made a tidy fortune selling high-end Nigerian clothing to fashionable wives of military bigwigs and society women.

Oil Prospecting License

In May 1993 Alakija applied for an allocation of an Oil Prospecting License (OPL). The license to explore for oil on a 617,000 acre block – (now referred to as OPL 216) was granted to Alakija’s company, Famfa Limited. The block is located approximately 220 miles South East of Lagos and 70 miles offshore Nigeria in the central Niger Delta.

This was in 1993. Many wealthy Nigerian businessmen and military bigwigs who had been allocated oil blocs by the military administration at the time had no clue as to the technicalities in operating an oil block, so many of them typically acquired OPLs, and then flipped them off to international oil companies for substantial profits.

But Alakija was intelligent. She had no expertise or experience in running an oil field, but she decided not to sell off her license. In September 1996, she entered into a joint venture agreement with Star Deep Water Petroleum Limited (a wholly-owned subsidiary of Texaco) and appointed the company as a technical adviser for the exploration of the license, transferring 40 percent of her 100 percent stake to Star Deep. Subsequently, Star Deep sold off 8 percent of its stake in OPL 216 to Petrobas, a Brazilian company. Folorunsho Alakija and her family owned 60 percent.

Nigerian Government Forcefully Acquires Stake In The Block

Star Deep Petroleum carried on with exploitation of the oil field. In 2000, the first appraisal well was confirmed to have recoverable reserves in excess of 1 billion barrels of oil equivalent. When this was discovered, the Nigerian government, led by Olusegun Obasanjo immediately ordered that a 40 percent interest in OPL 216 be allocated to the Nigerian National Petroleum Corporation (NNPC) under the Back-in-Right Regulation of 2003 which gives the Nigerian government participatory rights in any OPL or OML. You can read more about this back-in-right regulation in detail here.

This would leave Famfa Oil with a 20 percent stake. This was in 2000, and the government did not pay Famfa a dime for the stake. In 2003, Famfa applied for a conversion from an OPL to an OML, and in 2004 the request was granted. OPL 216 became OML 127.

But the Nigerian government was not content with its 40 percent stake in Famfa. In 2005, the government led by General Olusegun Obasanjo forcefully acquired a further 10 percent stake in OML 127.

Folorunsho Alakija immediately went to the courts to challenge the government’s forceful acquisition take a 50% in the license. It was a lengthy court battle which lasted for several years, but in May 2012, the Supreme Court voided the government’s acquisition of a 50 percent stake in OML 127 and subsequently transferred the 50 percent stake back to Famfa Oil. (Read about Famfa’s victory here).

The Nigerian government tried to appeal the Supreme’s court decision, but the case has been dismissed- a victory for Famfa Oil which sees the little-known oil company owning a 60 percent in OML 127, which is one of Nigeria’s most prolific oil blocks.

Valuation Of OML 127

Daily production at OML 127 currently stands at 200,000 barrels per day. When the Nigerian government, through its wholly-owned petroleum company, NNPC, was trying to justify its forceful acquisition of a 50 percent stake in OML 127 at the Supreme court, the Government admitted that if Famfa Oil owned a 60 percent stake in the OML, the company stood to earn $10 million on a daily basis (after taxes and other exploration costs have been settled). The government’s argument at the Supreme Court can be found through this link, (item number 23).

alakija1So how much is a 60 percent stake in OML 127 worth?

Comparator: In July 2012, Royal Dutch Shell agreed to sell its 45 percent stake in OML 30 for $850 million to Heritage Oil and Shoreline Energy.

According to Fool.co.uk, OML 30 currently produces 35,000 barrels of oil per day.

So, if 45 percent of a 35,000 bpd-producing oil bloc is $850 million, 100 percent of the same bloc = $1.88 billion i.e 100/45 x $850 million

If a 100 percent stake in a 35,000 bpd-producing oil bloc is $1.88 billion, by the same logic, a 100 percent stake in 200,000 bpd-producing oil bloc is worth $10.74 billion i.e 200,000 bpd/35,000 bpd X $1.88 billion

Folorunsho Alakija’s 60 percent stake in a $10.74 billion oil well is worth $6.44 billion.

Technically, her 60 percent stake in OML 127 is worth $6.44 billion.

Another comparator: In November 2012, French oil group Total announced that it was selling a 20 percent stake in its Nigerian offshore oil field to China’s Sinopec in a $2.5 billion deal. The block in question, OML 138 is a 180,000 bpd facility.

So, if a 20 percent stake in an 180,000 bpd facility offshore block is worth $2.5 billion, the entire block is worth $12.5 billion i.e 100/20 x $2.5 billion. Since a 180,000 bpd-producing facility is worth $12.5 billion, a 200,000 bpd-producing facility is worth $13.8 billion because 200,000/180,000 x $12.5 billion.

Using the Total-Sinopec deal as the yardstick, we could also value OML 127 at $13.8 billion. In that case, her 60 percent stake would be worth $8.3 billion.

But to be conservative, we prefer to go with the lower valuation of $6.44 billion.

On Debt

Ventures Africa reached out to Famfa Limited to comment, but the company declined to divulge any information regarding any long-term or short-term debt. We have no idea on how much debt (if any, the company has), but even if we take the high side, and subtract 50 percent of the value of her stake for debt, that still gives her 60 percent stake in OML 127 a market value of $3.2 billion, which makes her richer than the $2.7 billion Oprah Winfrey is worth according to Forbes Magazine’s last rankings.

Real Estate: $100 million

Folorunsho Alakija also has a real estate portfolio worth over $100 million. Earlier this year, Nigerian and British media announced that Alakija acquired a property at One Hyde Park for $102 million. See media coverage here and here

A source at Famfa Oil who asked for anonymity indeed confirmed that Mrs. Alakija actually acquired the property at One Hyde Park.alakija4

Private Jet

Alakija owns a Bombardier Global Express 6000 which she bought earlier this year for a reported $46 million.

Philanthropy

Folorunsho Alakija is the founder of the Rose of Sharon foundation, a Christian-based charity which gives out small grants to widows.

Personal

Alakija is married to Modupe Alakija and they have four grown-up sons together. She also has a grandchild from her first son. Modupe Alakija, her husband is the Chairman of Famfa Oil. Her sons run the company.

OTHERS ON THE LIST

At par with FolorunshoAlakija on the list is 73-year old former Nigeria Defense Minister, Theophilus Danjuma, with a net worth of $600 million from the oil sector, while 68-year old former banker and Honey Well Group founder, Oba Otudeko, came next with a net worth of $575 million.

Nigerian business mogul, AlikoDangote, and many other new entrants from Nigeria dominate the Forbes Africa’s 40 richest list. Dangote with a net worth of $12 billion, indicates a significant improvement from $10.1 billion in November 2011.According to Forbes, Nicky Oppenheimer of South Africa is once again rated the second richest in the continent, with a $6.4 billion fortune-down $100 million from the previous year.However, the world billionaires list presented Carlos Slim Helu, a Mexican, with net worth of $69 billion as the world’s richest man, while Bill Gates of United States came second with $61 billion net worth.

Others are Warren Buffet of United States ($44 billion), Bernard Arnault of France ($41 billion) and Amancio Ortega of Spain with $37.5 billion net worth coming third, fourth and fifth.

South Africa, the continent’s economic giant, is home to twelve of Africa’s 40 richest, followed by Nigeria, with eleven. Egypt comes next with eight and Morocco has five in the list of the richest men.The Africa’s billionaires list featured Nigerian business mogul Mike Adenuga, who ranks fifth with a net worth of $4.6 billion from his telecommunications and oil companies. Jim Ovia emerged as the 19th wealthiest man in the continent with a net worth of $825 million; Abdulsamad Rabiu, who heads BUA Group is ranked 21st with a net worth of $675 million.

At the 27th position is Mohammed Indimi, with a net worth of $550 million from the oil and gas sector. Mr. O.B. Lulu-Briggs also makes the list on the 31st spot with a net worth of $500 million, also from the oil sector. On the 37th position is Sani Bello, former Nigerian Military Governor from Kano State and a one-time Ambassador to Zimbabwe with a net worth of $425 million.

Standing tall at the end of the list is Hakeem Belo-Osagie, the 57-year old Harvard-trained petroleum economist with an estimated $400 million net worth.

Notable newcomers include the first two women,FolorunshoAlakija of Nigeria, who joined due to her stake in the prolific Agbami oil field; and Isabel dos Santos of Angola, an entrepreneur, investor and daughter of that country’s President.

South Africa’s Desmond Sacco, also debuts as a billionaire, thanks to his shares in mining concern Assore.

Another South African newcomer, Koos Bekker, who since 1997 has turned media group- Naspers into a true multinational firm, taking neither a salary nor a bonus along the way made the list. His $450 million net worth lies mostly in vested Naspers options.

Lagos, Bayelsa and Cross Rivers States are top on the list of the states of the federation that are indebted to both local and foreign institutions to the tune of N1.86 trillion, according to a report by the Debt Management Office (DMO).

According to the report, Borno and Yobe least indebted while the liabilities of Oyo, Jigawa and FCT are unknown as at the end of June last year.

DMO said that the N1.86 trillion debts have put the states and the Federal Capital Territory (FCT) in dire financial straits in their bid to ensure development.

The figure was up from the N1.42 trillion level of December 2011.

A breakdown of the figure indicates that local or domestic debt obligations account for N1.186 trillion with the balance being the foreign debt liabilities.

Contractors’ liabilities top the chart on the debt table followed closely by commercial banks’ loans, bonds, pension and gratuity and government-to-government debt in that order.

The DMO’s report said: “The total public debt of the 36 states rose from N1.42 trillion as at December 31, 2011 to N1.86 trillion by June 2012. The marginal increase of about 3.32 per cent was as a result of slight increases in both the external and domestic debt stocks. As in 2011, domestic debt dominated the total public debt portfolio of the 36 states of the federation in June amounting for over 77 per cent of the total as it did in the previous year.”

The entire records of Oyo and Jigawa states’ liabilities and those of the Federal Capital Territory (FCT) Administration are the only data missing out in the report of the exercise begun some five years ago and concluded December last year by the DMO.

The three administrations reportedly didn’t co-operate much with the DMO during the exercise.

This, however, could not be confirmed yesterday, as all efforts to speak with top officials of the debt management agency were not successful.

The report titled “Five years of Effective Sub-National Debt Management in Nigeria” was obtained exclusively by The Guardian under strict confidentiality as members were still studying it preparatory to their meeting on the report next March 11.

The report listed Lagos State as the highest borrower with a contingent liability of N238.262 billion, comprising a local debt of N157,536 billion and a foreign component of N80.726 billion.

Lagos is followed by oil-rich Bayelsa State with a contingent liability of N167.173 billion, made up of a domestic debt stock of N162.822 billion and a foreign debt liability of N4.350 billion while Cross River State is placed third with a total public debt of N113.598 billion, consisting of a local debt component of N96.544 billion and foreign debt of N17.053 billion.

Next to Cross River is Rivers State, which as at June last year had contracted a total public debt of N112.229 billion made up of N106.880 billion local debt and N5.349 billion foreign debt. The state is followed by Delta State with a public debt of N93.304 billion, comprising a local debt of N90.843 billion and a foreign component of N2.46 billion. Imo and Kaduna states are next with total debts of N69.979 billion and N53.808 billion respectively.

Crisis-torn states of Borno and Yobe emerged the least indebted with Borno pulling the least public debt of N3 billion, consisting of N1.684 billion local debt and N1.894 billion foreign debt.

Yobe on the other hand has only contracted a debt toll of N6.939 billion, made up of N2.088 billion local debt and N4.851 billion external debt.

However, on a debt solvency and liquidity ratio analysis relative to revenue inflow to states, Cross River State is the heaviest debtor as it scores the highest burden rating of 138.86 per cent as at December 2011, representing her total public debt to total revenue ratio.

The state’s public revenue is put at N77.489 billion while its public debt is far above the figure at N107.600 billion. Also, on a scale of domestic debt stock analysis relative to Internally-Generated Revenue (IGR), Cross River polls 584 per cent, next to the highest ranked Bayelsa State, which pulled 1,712 per cent. Cross River’s domestic debt stock relative to IGR at the period was only N16.553 billion.

On the total public debt sustainability score, Bayelsa is next to Cross River with a burden score of 104.93 per cent and a debt stock of N167.123 billion relative to its revenue base of N159.278 billion while it has the highest domestic debt burden score of 1,712 per cent relative to its IGR. The state’s local debt stock at the time of the analysis was N162.822 billion while its IGR was a paltry N9.510 billion.

Lagos State is placed as the third risky state in the total public debt solvency analysis as it polled 73.21 per cent after Cross River and Bayelsa. Lagos public debt at the time was N234.608 billion while its revenue base was put at N320.474 billion.

It equally scored a ranking of 61 per cent on the domestic debt solvency analysis, as its domestic debt stock was N157.536 billion, relative to its IGR base of N257.419 billion.

Please I urgently need a clean 2003 Model of RX 300 Lexus SUV full option.
please contact me cogagbe@yahoo.com

PLEASE I DO NEED SOME EXPERT ADVICE, I INTEND BUYING THE ABOVE MENTIONED CAR FOR MY WIFE COULD SOME TELL ME ABOUT THE CAR, AND THE MOST LIKELY PROBLEMS OF THE CAR AND IF NOT GOOD WHICH OTHER CAR CAN YOU RECOMMEND THAT IS WITHIN THE SAME PRICE RANGE WITH THE RX300/330, YOUR URGENT RESPONSES ARE NEEDED THANKS

Orpelin: Another Pics

The Black guy on that pic must be a Nigerian if not make we try find out

fkaz: http://thenationonlineng.net/new/news/pdp-governors-to-release-jonathans-one-term-pact/

I am so disappointed in the country called Nigeria, why do we have to hear funny stories about the Government every now and then, everyday we must hear something New About GEJ, his ministers, PDP, or their allies, I will strongly advise that GEJ quietly leaves office at the end of his tenure, he has brought disrupt to the Office of the PRESIDENCY, know single regard for that position, no charisma, everything goes, some one will just wake and say something about that office, is this what is tenable in other countries ?

We must start Now to look for a President that is free of so many scandals, if not him it is allies, or wife, or brother or from his state, or what have you, which ever parties that produces the president is fine by me (APC, PDP, APGA, Labour, ANPP,AC,ETC.).

Can you get me a RX 300 LEXUS MINI SUV 2003 MODEL AND FOR HOW MUCH

Can someone advise on the Durability and Availability of RX300 Lexus SUV and the cost, Urgently needed pls if you have any send pics to cogagbe@yahoo.com

Thanks you some of you guys have spoken my mind, in the 1st place why post this and bring it to the front Page ?, moderators I need an answer?
What are we trying to do by doing this, to legalize their bad and evil businesses,, I need the person that did this to help us get their means of lively hood, you cannot come here and start informing us about thieves and prostitutes as celebrities.

We should stop all these it will not help us.

President Goodluck Jonathan yesterday met with David Cameron, British Prime Minister and pleaded his country’s assistance to stem the big oil theft in Nigeria’s Niger Delta.

Jonathan reportedly told Cameron, who now chairs G8 that stolen oil from the Nigeria is shipped abroad where it is refined and sold in the international market.

He described the crime as “blood oil”.

Oil theft, known in Nigeria as illegal bunkering accounts for more than 10 per cent of Nigeria’s daily oil production of 2.2 million barrels.

The president who called for sanctions for all those involved in the illegal trade, said that the G8 has a role to play in putting an end to the crime, challenging the group of industrialised nations to take a stand similar to the one taken on money laundering by public office holders

Jonathan also called on the G-8 to look into the issue of proliferarion of small arms and light weapons in Africa, and long term peace keeping support for Mali, a theme that he took across the Channels to Paris, where he later held talks with President Francois Hollande.

According to him, there is need to sustain stability in Mali after the military intervention, otherwise, the rebels may adopt a guerrillas approach of killings and suicide bombings, thus continuing their terrorist activities by other means.

While noting the cordial relations between Nigeria and the UK, the President expressed commitment to promoting trade and investment between both countries.

“We have a robust relationship in terms of trade, because trade between African nations are more difficult than trade with other countries. Without robust trading the economy cannot develop because whatever you do either primary production or industrial, you need trade facilitation,” Jonathan said.

Responding, Cameron, said both nations had a close relationship based on successful trade and investment which would double in the coming years.

Cameron also said that the two countries would continue to build on their strong diplomatic and political relations as well as aid and development partnership

what is union Bank doing on the list?

360command: Wakaso wey balou ball go mecca during his penalty kick ... Nonsense talk .

Na Certificate of attendance they give to Ghana, that was what Gyan was carrying after the match make they go frame am hang for wall, it is their time of Retrogression, Cameroon,Ivory Coast, Egypt, Senegal, and all north African teams to go and rebuild, we just came out of our own only God knows how long it will last

Lagos Third Mainland Bridge, the 11.8 km long bridge connecting Lagos Island to the mainland is in danger and will portend a major national disaster if allowed to collapse, according to David Mark, Senate president.

Mark said “the bridge is an important edifice and its collapse will be a major catastrophe, as many lives may be lost.”

This is coming as the upper legislative house will today debate a motion on the imminent collapse of the bridge.

At the plenary session yesterday, Senator Gbenga Ashafa from Lagos East raised a point of order to bring to the attention of the Senate the state of the bridge, adding that he would want an urgent remedial measures to be taken.

He said the consultant who carried out the post-assessment of the repair works of the bridge discovered that the repair work on its foundation was not properly done.

Ashafa said the consultant discovered that the bridge “could collapse today, tomorrow, next year, five or 10 years and, therefore, there is the urgent need to discuss the imminent collapse.”

The repair of the Third Mainland Bridge before it was re-opened last year reportedly gulped N1.5 billion, including repairs at eight expansion joints of both sides of the bridge.

The Third Mainland Bridge, measured 11.8 km and connected the Mainland to Lagos Island, was commissioned by former military president, General Ibrahim Babangida, in 1990.

The bridge is the longest of three bridges connecting Lagos Island and starts from Oworonshoki which is linked to the Apapa-Oshodi express way and Lagos-Ibadan express way, and ends at the Adeniji Adele Interchange on Lagos Island.

By 2006, many commuters had reported that the Third Mainland Bridge was vibrating noticeably, indicating that it needed urgent attention.

As a result, remedial work was commenced on the portions of the bridge at different times, leading to partial closure of the bridge at different times.

A House of Representatives’ report has revealed that some revenue generating agencies have short-changed the Federal Government N8.8 trillion and the report listed the agencies to include; Nigerian National Petroleum Corporation (NNPC); and Nigerian Communications Commission (NCC) among others.

The agencies collectively generated N9.3trillion but remitted only N174.9bilion to the treasury between 2009 and last year according to the House report.

The agencies have acted contrary to the Fiscal Responsibility Act (FRA), 2007 and a 2011 Federal Ministry of Finance directive.

The FRA allows agencies to remit to the Treasury based on their annual operating surplus framework. The Finance ministry’s directive requested them to remit 25 per cent of their gross collection to the Treasury.

Independent revenue derived from Internally Generated revenue (IGR), is 100 percent dedicated to the Federal Government – to the exclusion of other tiers of government.

The agencies were supposed to have remitted N3.06trillion generated in 2009 as independent revenue, but they sent in N46.8billion or 1.53 percent to the Treasury.

The report also revealed that in 2010, the agencies generated N3.07trillion, but remitted N54.1bilion or 1.76 percent to the Federal Government.

In 2011, N3.17trillion was generated, but only 2.33 per cent or N73.8b was remitted to the Treasury.

NNPC and its subsidiaries generated N6.1trillion (excluding proceeds from crude oil and gas) during the period but remitted nothing to the Federal Government.

A general analysis of the agencies’ submission (excluding the NNPC’s) shows expected remittance of N189billion as at October, last year.

Only N80bilion had been paid to the Treasury (42 per cent compliance), leaving a shortfall of N109billion.

Some of the agencies apart from the NNPC, and NCC are: Federal Capital Territory (FCT), Federal Airports Authority of Nigeria (FAAN), Nigerian Maritime Administration and Safety Agency (NIMASA), Nigerian Ports Authority (NPA), Nigerian Broadcasting Commission (NBC) and the Federal Mortgage Bank (FMBN) among others.

With the exception of the Central Bank of Nigeria (CBN), all the agencies prepared and submitted their audited accounts to the office of the Auditor General outside the time stipulated in the Fiscal Responsibility Act, 2007.

The report of the House Committed on Finance on independent revenue generation and remittances to the Consolidated Revenue Fund by government-owned agencies that was considered yesterday by the lawmakers, however, praised five agencies for attempting to adhere to the FRA to some extent by regularly remitting their independent revenues to the Federal Government.

These are: CBN, Federal Radio Corporation of Nigeria (FRCN), Nigerian Television Authority (NTA) and two others.

Abdulmumin Jubrin, chairman of the committee presenting the report, said between 2009 and 2011, the NNPC and all its subsidiaries generated N6.132trillion as Internally Generated Revenue (IGR), but remitted no part of it to the Federal Government.

According to him, the money excluded what was generated from crude oil and gas sales.

The report also revealed that the Federal Inland Revenue Service (FIRS) provided confusing accounting figures of its independent revenue in 2009.

While N5.6m was declared, when the agency’s audited account was reviewed, another sub-head of N323m was discovered.

According to the committee’s findings and in consonance with the submission of the Fiscal Responsibility Commission (FRC), most of the reviewed agencies were found culpable of not adequately making returns to the Treasury as well as also preparing different sets of account.

The agencies were found to have always prepared one account for the FRC and another for the Auditor General’s office.

The lawmakers, in adopting the recommendations of the report, mandated the Finance Committee to work on the Fiscal Responsibility Act (FRA) 2007 within four weeks so as to check various loopholes that enable government agencies spend what they generate without recourse to the National Assembly.

The Committee on Finance is to probe other agencies that were not captured in this exercise to ascertain their status.

“Agencies that have refused to cooperate with the committee are to do so within seven days or Section 89 of the constitution will be invoked on them.

The other recommendations are that: The Ministry of Finance should compel agencies which have outstanding balances to be paid to pay up immediately;

•Any agency found to be spending outside budgetary provisions should be punished;

•All revenues due to the Consolidated Revenue Fund of the Federal government must be paid as and when due;

•The Accountant General of the Federation should submit to the Committee a detailed monthly report of remittances of Federal Government independent revenue;

•The FRC should sanction any agency that fails to submit its audited annual account as and when due;

• All agencies should henceforth present evidence of remittances into the Consolidated Revenue Account to the relevant Committees of the House during their budget performance defence; and

• The Federal Ministry of Finance should immediately ensure that all funds hidden in various agencies’ bank accounts should be mopped up and promptly remitted to the Consolidated Revenue Fund and report to the Finance Committee within three months”.

The shortfall of remittances of some of the agencies are: Nigerian National Petroleum Corporation (NNPC)-N6.1trillion; Federal Capital Territory (FCT)-N7.7b; Central Bank of Nigeria (CBN-N45.5b; Federal Airport Authority of Nigeria (FAAN)-N6.9b; Nigerian Maritime Administration and Safety Agency (NIMASA)-N1.4b; National Agency for Food, Drug Administration and Control (NAFDAC)-N1b; Nigerian Port Authority (NPA)-N11.1b; Nigerian Communications Commission (NCC)-N3.3b; Nigerian Broadcasting Commission (NBC)-N211.7m; Federal Mortgage Bank (FMBN)-N300.4m; West African Examination Council (WAEC)-N2.5b; National Sports Commission (NSC)-N3.7m; Standards Organization of Nigeria (SON)-N252.7m; Federal Road Safety Commission (FRSC)-N410.9m; Federal Housing Authority (FHA)-N221.2m;

Nigeria Shippers Council-N6.4m; Nigeria Deposit Insurance Corporation (NDIC)-N8.8b; Nigerian Airspace Management Agency (NAMA)N3.6b; Industrial Training Fund (ITF)-N4b; Corporate Affairs Commission. (CAC)-N2b; Bank of Industry (BoI)-N3b; and Joint Admissions and Matriculation Board (JAMB)-N1.4B

Nigeria Immigration Service has uncovered about 1,487 illegal routes to the country.

The NIS also identified 84 regular borders to the country.

The Minister of Interior, Abba Moro, stated this on Tuesday in Abuja while responding to questions on the porous nature of the nation’s borders.

The service, he added, had taken steps by patrolling the routes in order to check the illegal movement of people and goods into the country.

Moro said, “Since I assumed office, we have taken deliberate steps in conjunction with National Boundaries Commission to identify our borders and the routes that lead to Nigeria from other countries, and in the process, we have been able to identify 84 regular borders and over 1,487 irregular routes to Nigeria.”

The minister, who said the President Goodluck Jonathan administration was battling with the security challenges facing the nation, noted that the government had taken proactive steps to control the influx of illegal aliens into the country.

He added that plans were underway to use the Public Private Partnership model to demarcate further Nigeria borders post with her neighbouring countries to ensure better border management.

The minister said, “We are contemplating using the Public Private Partnership model to see how we can construct graders around our borders. As it is today, if you go to many of our land borders, you hardly can define when you are in Nigeria and when you are out of it, and that is because of the lack of physical structure that will separate Nigeria from the other countries.”

Moro promised that within the year, construction work would start at some of the border posts to ensure effective patrols and better border management.

On the influx of aliens into the country, the Minister said though the problem was not peculiar to Nigeria, the NIS had not relented in its responsibility of ensuring that unauthorised persons were eased out of the country.

http://www.punchng.com/news/immigration-uncovers-1487-illegal-routes-to-nigeria/

Wed, 06/02/2013 - 1:00am | MICHAEL OCHE <http://www.leadership.ng/nga/michael_oche/index.html>
The Nigeria Union of Pensioners (NUP) yesterday said the planned nationwide protest against government neglect of its members would commence on February 25, 2013 as a meeting at the instance of the Minister of Labour and Productivity, Emeka Wogu with other stakeholders ended in deadlock.
National President of NUP, Comrade Ali Abatcha, who made this known to journalists in Abuja said the federal government, in its effort to avert the planned action by the union, summoned a meeting with the representatives of the Head of Service of the Federation, Ministry of Justice and others, adding that the meeting did not yield any result.
He said the union was seeking the release of the one per cent check off dues which the members voluntarily contributed and was seized by the pension reform task team.
He said, “Our meeting with the representatives of the Head of Service of the Federation, Ministry of Labour, and Ministry of Justice ended in deadlock because none of the demands was met.
“We are demanding for the release of the one (1) per cent check off dues like other unions in the country, the 53 per cent increment which Civil Servants have been enjoying for the past three years, and the harmonisation of pensioners, none of these was solved and the meeting was adjourned to Wednesday February 13, 2013. Meanwhile, our planned nationwide protest billed for the 25th of this month will still hold.”
He said further, “the Minister told us to come back by February 13, 2013 so that Salaries and Wages Commission can explain why the circular is yet to be released. For the check off dues, the Ministry of Justice said we don’t have the right to levy our members, but we told them it was not levy but a voluntarily contribution and is constitutional.

Meanwhile, as the 2015 presidential race begins to gather momentum, Jigawa State governor Sule Lamido and his Rivers State counterpart Rotimi Ameachi’s hopeful presidential ticket seems to be on the front: some branded vehicles appeared in Kaduna yesterday.
One of such branded vehicles with the pictures of Lamido and Amaechi was sighted at a car wash by Waff Road, an exclusive residential area in Kaduna. It attracted the attention of passers-by who were seen making some political comments on the development and the chances of the duo.
LEADERSHIP findings thereafter revealed that those spearheading the campaign team were in the state for a secret meeting in preparation for the 2015 presidential race.
It was also gathered that the meeting was to identify strong forces in the state that would commence underground work for the presidential hopeful ticket.
LEADERSHIP had exclusively reported last year that, ahead of political horse-trading over who becomes the presidential and vice presidential candidates of the ruling Peoples Democratic Party (PDP) in 2015, indications emerged that former President Olusegun Obasanjo is backing Lamido and Amaechi for the coveted positions respectively.
A source close to Obasanjo also confided in LEADERSHIP that the former president is now drumming support for a power shift to the north.
Obasanjo has insisted severally that incumbent President Goodluck Jonathan must exit the position come 2015.
In recent times, there have been clamouring from various quarters for northern presidency come 2015, even though northern groups like the Arewa Consultative Forum (ACF), in a recent interview granted by its national publicity secretary, Anthony Sani, had said it was too early to talk about the 2015 presidential election.
Drumming support for Lamido’s candidature recently, the chairman, Kazaure local government area of Jigawa State, Dr Saleh Yahaya Taiki, described him a man of integrity who has proven beyond reasonable doubt his ability to discharge responsibilities very well.
LEADERSHIP’s effort to speak with the driver of one of the branded vehicles was unsuccessful as he declined comment on their mission in the state.

FEBRUARY 6, 2013 BY OLUSOLA FABIYI, ABUJA

Former Vice-President Atiku Abubakar thought that former President Olusegun Obasanjo would not complete his tenure, paving the way for him (Atiku) to become the President.

This revelation was contained in a book written by a former Minister of Federal Capital Territory, Mallam Nasir el-Rufai.
The book, titled The Accidental Public Servant, has yet to be presented to the public.

The former minister said he had met Atiku and told him about his intention to resign as the Director-General of the Bureau of Public Enterprises following the demand for N54m bribe by some senators before he would be cleared as a ministerial nominee.

He said he had reported the bribe demand to Obasanjo, but that the former President asked him to sort himself out.
“No, I am not handling this senators’ thing. I have done my part and nominated you. You should go and tell the vice-president about whatever has transpired. He will handle it,” El-Rufai claimed the former President said when he met with him on the demand.

El-Rufai wrote, “When I walked into Atiku’s office, he said, ‘Where are you going? You can’t leave. We are about to have the whole thing’.

“I was taken aback as I was not sure what he meant. What do you mean sir?”

He said the former vice-president informed him about a marabout in Cameroon who, he said had been in touch with him since the first very time he contested the governorship in the old Gongola State.

Atiku, according to him, told him that the marabout asked him not to waste his money because he would not win.

The same marabout, he said told him more than two more times that he would lose governorship elections, which he said he lost.

The former vice-president was also claimed to have said the marabout told him he would win the 1999 governorship election in Adamawa State but would not become the governor.

El-Rufai wrote, “And soon, it came to pass. Atiku won the election, but before he could take the oath of office, Obasanjo chose him to be his running mate.

“On the strength of this fable, Atiku appeared to have placed his faith in the predictions of this marabout.”

He said the former vice president added, “Nasir, this mallam has been consistently right in hid predictions.”

“Wow, that is very interesting sir, but what does this have to do with my resignation?” the former minister asked Atiku.
“Because the same mallam said that Obasanjo would not complete his term”, he quoted Atiku as saying.

But Atiku’s spokesperson, Mallam Garba Shehu, said, “The book is a tissue of lies. Marabout is a family phenomenon of the el-rufais of this world.

“He, as a minister, has supported one of his brother to an errand to see marabout in Morocco, Mali, Senegal and Somalia.
“With this book, he is inadvertently opening his character and that of his family for the whole world to see.”

In the book, Atiku went on to ask el-Rufai why he would want to resign when he (Atiku) would soon be in charge.

“So, why do you want to go? When I am President, we are going to take charge of this place and fix it and I will need you. You are one of my best people,” Atiku assured him.

He also recalled how Atiku in 2002, called a meeting of what he called a meeting of those he considered his “three closest advisers” that he would run against his boss in 2003.

At the meeting, according to the book, were his political adviser, Dr. Usman Bugaje; the Publisher ofTHISDAY, Mr. Nduka Obaigbena, and el-Rufai.

The meeting, he said, was held in Atiku’ guest house in Abuja.

El-Rufai said, “At the meeting, he (Atiku) told us that he had been having meetings for the past several months with two groups of politicians.

“One group (called G4) consisted of President Ibrahim Babangiga, and General Abdulsalami Abubakar, both of whom were former military heads of state, as well as Gen. Aliyu Gusau.

“The four of them had been meeting to review Obasanjo’s performance and they had concluded that Obasanjo’s first term up to that point had been a disaster. The National Assembly had twice tried to impeach him, and the four of them had just thought that Obasanjo should not have a second term.

“In their meetings, according to Atiku, they decided that since Atiku was the incumbent vice-president, he should have the first shot at the presidency.”

He said the meetings were allegedly leaked to Obasanjo by Babangida, who was also eyeing the presidency.

http://www.punchng.com/news/atiku-thought-obasanjo-wouldnt-complete-his-tenure-el-rufai/

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serious enquiry call Joseph 08032024036

I m Interested, can it fly for N1.2M

Suddenly, the Elephants of Cote d’Ivoire have realized that today’s quarter final battle with the Super Eagles may not go their way with Vincent Enyeama in goal for Nigeria.

Enyeama has been in sparkling form and thwarted all the efforts of Ethiopia in pulling an upset against Eagles.

Cote d’Ivoire are favorites in today’s match with bookmakers tipping them to stroll over the Super Eagles who struggled in the prelims before firing two penalty goals to knock out Ethiopia in their last match.

But Konan Didier and Max Gradel are aware of the heroics of Enyeama and are dreading that he could play the spoiler against them today.

“You’ve a very fantastic goalkeeper who has so much experience. He was good in the World Cup and has been fantastic in this Nations Cup”, they said.

BENIN – FORMER national chairman of the Youth Wing of the Christian Association of Nigeria (YOWICAN), Dr. Dele Oluwatade has appealed to the Catholic Bishops Conference of Nigeria, CBCN, to review its decision to pull out of CAN, saying that such action would provide a leeway for the enemies to destroy the Church, reports GABRIEL ENOGHOLASE.

Reacting to the reasons given by the Catholic Church for pulling out of CAN, Dr. Oluwatade told Vanguard in Benin that, “the allegation that the CAN President was too close to government should be well looked into and analyzed so as to understand exactly what is happening because the Bible says we should pray for our leaders including presidents, governors, Obas and all those in government.

“So, the Catholic Church has to clarify the issue for the sake of national interest where the CAN President is compromising with the government, that is critically important for an arm of CAN to say no”, he said, adding that there were several avenues within the hierarchy of CAN where disputes could be resolved without going public. He insisted that it was the lack of mutual respect and understanding among church leaders that is responsible for the scourging of churches in the North by the Islamic sect, Boko Haram.

According to him, “that is the major problem that we are facing and that is the divine reason why the Boko Haram will continue to scourge the church; until all our leaders purge themselves of their pride and wickedness.”

President Goodluck Jonathan, Saturday, requested for stay of execution on Nigerians on death row in Indonesia.

Receiving the Indonesian President, Susilo Bambang Yudhoyono in Abuja, who is on a 2-day state visit to the country, President Jonathan called for more bilateral relations between both counties with a pledge for an early convening of the Joint Commission for Bilateral Cooperation meeting between the two countries.

In tweets, Saturday, by Presidential spokesman Dr. Reuben Abati, both Presidents welcomed the signing of MoU between Nigeria and Indonesia to combat drug abuse and illicit trafficking in narcotics, and drugs just as they agreed to promote training cooperation involving military officers of both countries.

Vanguard had earlier reported that no fewer than 18 Nigerians are presently languishing in various prisons in Indonesia with the fear that some of them may be among 10 slated for execution soon.

The 18 Nigerians were condemned to death by the Indonesian courts in 2008 for their alleged various criminal offences including drug peddling and other related offences.
President Susilo Bambang Yudhoyono of Indonesia inspecting a guard mounted in his honour during arrival formalities as he commenced a two-day official visit to Nigeria at the fore-courts of the Presidential Villa, Abuja. Photo: Abayomi Adeshida.

President Susilo Bambang Yudhoyono of Indonesia inspecting a guard mounted in his honour during arrival formalities as he commenced a two-day official visit to Nigeria at the fore-courts of the Presidential Villa,Saturday in Abuja. Photo: Abayomi Adeshida.

So far, the Indonesian government had condemned a total of 21 Nigerians to death, sentenced four to life imprisonment and eight others to various jail terms ranging from 11 to 18 years.

Out of the 21 condemned Nigerians, two of them, Samuel Iwuchukwu Okoye and Hassan Anthony Nwaolisa were executed on June 28, 2008, while another, Augustine Ogbonna died under mysterious circumstances in prison custody in September, 2008.

Abati’s tweets:

” Pres. Jonathan requested for stay of execution of Nigerians on death row in Indonesia while both explore agreement on exchange of prisoners

“Both Presidents welcomed the signing of MoU btw Nigeria and Indonesia to combat drug abuse and illicit trafficking in narcotics, and drugs.”

“Both Presidents pledged to work together towards attaining a more balanced and mutually beneficial relatnship btw Nigeria and Indonesia.”

oviecardealer: Nissan xtera 2002 is N1.530m and 2003 model budget N1.720m all this prices are landing cost to lagos now N35,000k each to Port-Harcourt for d driver and fuel thank's.

Your prices are on the high side.

How much will it cost to get a Nissan Extrran 2002/2003 model to Port Harcourt

[quote author=anataala][/quote]I very much agree with you, must super powers if not all are funding and benefiting from the corruption taking place in Nigeria, E.g must Oil Multinationals company in Nigeria if not all are very corrupt, and there home countries is very much aware of their activities, Mobil, Chevron, Halliburton (USA) Shell, (UK & Holland), TOTAL, (France)AGIP (Italy).

All these companies mentioned above have one way or the other destroyed this country in order for them to take out oil.

You guys keeping talking about GEJ not being composed and lack confidence, but from some of your contributions if not all of you here, lacks a great lot of confidence, do you think it is easy to be the C In C, pls give this guy a break, if you feel he is not good enough then come 2015, you vote him out, that is if he will be running.

I Am not jealous, and she had lived with us sometime ago and i had no problem with that, but she call her during the day which is fine with me, but calling her late at night knowing too well that she is not alone, does not seem to do down well with me, there times i need to call someone and it is late i do have to wait to the next day no matter how close i am, except for emergency sake, are you trying to tell me she has emergency every night?

I thank you all for your advice.

My mother in-law will not allow my wife to be at peace always calling over every little thing, please i would want NL to advise if it is right for her to call even at late night, saying she is disturbed, and this being going on for sometime, and when i confront my wife over this she say it is her mother and there is nothing wrong with her calling, even at odd times.

But I am bother if she calls but i presume she should be aware that one is suppose to be in bed and still calls are still coming over issues that could be talked about the next day.

Please i need your guidance on this issue

RedReact: 4 minutes extra time, refreeeeeee!

There is a great conspiracy to deal with Nigeria, one the extra time was too much, but i would advise that nigeria should pull from all FIFA and CAF competitions to help us from having high BP

[quote author=playnaija][b]Bakare - Jonathan Belittled Himself By Kneeling-down For A


I am very disappointed in Bakare, I do wonder if his sermons in his church are Political Science Class or a message from God, he should know a lot more better, that Jonathan was not kneeling for man but God, he Should understand that he was just showing a sign of humility before God, what exactly his wrong him

Bakare as a Man of God as he claims, cos I tend to doubt his calling, The GO of RCCG is suppose to be his Spiritual Father, and yet he speaks bad about every actions of his, he should grow up, the office of the Presidency is not bigger than the throne of God, this Government is not greater than the one in heaven.

I do live IN PH and the present state of Electricity in my area is one (1) week or more and they take it for 10mins, it is a wonderful thing out here