Nigeria @64: Time to review federal structure is now — Senate Leader Opeyemi Bamidele

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  • September 30, 2024
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As Nigeria celebrates its 64th independence anniversary, the Senate Leader, Senator Opeyemi Bamidele, has declared that “there is no better time to review our federal governance structure than now with a view to creating a federation that is more efficient, functional and responsive.”

Senator Bamidele charged all leaders—political or socio-cultural, religious or traditional, community or professional—”to close ranks and come up with consensus on how to end heinous challenges undermining our collective prosperity, national harmony and political stability.”

In a statement released on the anniversary by the Directorate of Media and Public Affairs in his office, the Senate Leader said at this trying time in the nation’s history, they “must be deliberate to decisively address what easily divides us and heats up our polity in order to build a resilient federation that works for all.”

He maintained that such a united front has now become imperative at this auspicious time when the review of the 1999 Constitution (as amended) is underway at the National Assembly.

“We have already received 37 fresh memoranda from different interests nationwide. We are also revisiting 16 constitution alteration bills inherited from the Ninth National Assembly. Before public hearings on the constitution review take off in January 2025, we are open to more memoranda from all interests.

“Among others, we have received memoranda on the need to establish state police; adopt diaspora voting; entrench financial autonomy for local government councils; deepen independence of the judiciary; provide special seats for women in the National Assembly and State Houses of Assembly; and create the National Council of Traditional Rulers.

“More memoranda are welcome. The process for the review of the 1999 Constitution is unambiguous as enshrined in Section 9(2)(3). It is a collective approach that requires the input of not only the federal and state legislature but also the contributions of all interests across the federation.

“As we proceed with the review, we promise not to leave any interest behind in the task of forging a new path for our beloved fatherland. And Nigeria shall be better for it,” he stressed.

The Senate Leader added: “After 64 years of political independence and 110 years of corporate existence, onus now rests upon us all to focus our energy and intellect on what majorly unites us as a federation rather than what will further divide us along our ethno-political and religious fault lines.”

Nigeria @64: Time to review federal structure is now — Senate Leader Opeyemi Bamidele

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    NNPC Remits over N10tn to Federation in 8 Months, Records N4.2tn Revenue in August

    NNPC Remits over N10tn to Federation in 8 Months, Records N4.2tn Revenue in August

    •Profit declines by N323bn m-o-m  

    •Production constraints persist despite fiscal gains

    Emmanuel Addeh in Abuja

    The Nigerian National Petroleum Company Limited (NNPC) remitted N10.073 trillion to the Federation Account between January and August 2025, according to the company’s September 2025 monthly performance report released yesterday.

    The cumulative figure represents statutory payments from oil and gas operations over the first eight months of the year, with the national oil company recording N4.26 trillion revenue in August alone.

    The remitted funds include proceeds from crude and condensate sales, gas sales, royalties, taxes, and other payments due to the Federation. The remittance in August was an increase of about N1.21 trillion compared to July.

    This is against the company’s cumulative remittance of N8.86 trillion to the Federation Account between January and July 2025, underscoring its growing role as the country’s fiscal anchor despite persistent industry challenges.

    While the company also declared a profit after tax of N539 billion for the previous month in August, backed by steady crude oil and gas output, stronger product availability, and improved operational efficiency across its facilities, however this declined in September to N216 billion. This constituted about N323 billion reduction in profit.

    But the September profit was an increase compared to the N185 billion declared in July; but a slump from the N905 billion declared for its June operations and  a further drop from the N1.054 trillion recorded in the previous month of May.

    Besides, Nigeria’s crude oil and condensate production averaged 1.61 million bpd in September as against 1.65 million barrels per day in August, which further represented a 2.9 per cent dip from July’s 1.70 million bpd production.

    Crude oil and condensate production averaged around 1.56 to 1.69 million barrels per day during the period, including condensates. Although below the nation’s technical capacity, the level was sufficient to support a reasonable inflow into government accounts.

    The report attributed temporary output moderation to planned maintenance activities at key facilities, including the Nigeria LNG plant, and delays in the recommencement of operations at certain oil mining leases.

    On gas, average daily production stood at about 6.28 billion standard cubic feet per day in September, while a significant portion of this was commercialised through domestic and export channels, contributing to the overall revenue performance.

    Despite the fiscal operations outcome, operational challenges persisted across parts of the production and supply chain. Maintenance shutdowns at producing terminals and pipeline constraints continued to limit crude evacuation.

    But the report noted gradual recovery of previously shut-in volumes and ongoing work on critical infrastructure such as the Obiafu-Obrikom-Oben (OB3) gas pipeline. Once completed, the OB3 line is expected to enhance gas transportation and support industrial supply growth. It reported that OB3 is now at 96 per cent completion.

    In the same vein, the Ajaokuta-Kaduna-Kano (AKK) gas pipeline is now at 88 per cent completion, while upstream pipeline availability was 96 per cent during the month under consideration. NNPC Retail maintained a significant level of fuel supply across the country during the review month, with most of its filling stations having products at 77 per cent.

    Beyond its operational metrics, the report also highlighted several public-impact activities executed through the NNPC Foundation. These included training programmes for more than 7,000 smallholder farmers in the northern region, free cardiac interventions for indigent patients, and participation in creative-industry development initiatives. Although not directly linked to core operations, these interventions formed part of the company’s social-investment commitments.

    The report further indicated that all production, sales, and financial figures are provisional, pending reconciliation with relevant stakeholders. Nonetheless, the trend suggests that NNPC could exceed its 2024 remittance record if current conditions persist through the final quarter of the year.

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