NEITI Announces Recovery of $4.85bn from $8.26bn Liability Disclosures in 2021 Oil, Gas Report 

Peter Uzoho 

The Nigeria Extractive Industries Transparency Initiative (NEITI) said that over $4.85 billion has been recovered from the disclosures of $8.26 billion made in its 2021 oil and gas report.

The agency revealed this in a statement issued yesterday by its Deputy Director of Communications and Advocacy, Mrs. Obiageli Onuorah.

In the 2023 industry reports released in September 2024, NEITI had disclosed liabilities of $6.175 million and N66.378 billion, showing a significant  decline from the liabilities of 2021 reports.

NEITI said the liabilities were yet worrisome because of the need for government to find resources to fund its 2025 budget.

It said analyses of how these liabilities when paid could support the federal government’s domestic revenue mobilization revealed that the liabilities, when converted at N1,500 to one dollar, would amount to N9.33 trillion.

It noted that the sum was more than the federal government’s total budget for health, education, agriculture and food security which totaled N8.73 trillion. 

“Further analyses show that the sum is also more than the total budget for national security at N6.11Trillion, health at N2.48 Trillion and social welfare of N724Billion all put together. 

“The liabilities can also knock off about 72 per cent of the federal government’s budget deficit of N13 trillion for 2025.

“NEITI is therefore calling on relevant agencies responsible for collecting these revenues to do the needful and support our governments at all levels to provide the much-needed infrastructure for our citizens,” NEITI stated in the statement.

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    Recall Petition against Akpoti-Uduaghan Did Not Meet Constitutional Requirements, Says INEC

    Recall Petition against Akpoti-Uduaghan Did Not Meet Constitutional Requirements, Says INEC

    Adedayo Akinwale in Abuja

    The Independent National Electoral Commission (INEC) has declared that the petition for the recall of the Senator representing Kogi Central, Natasha Akpoti-Uduaghan did not meet constitutional requirements.

    INEC National Commissioner and Chairman, Information and Voter Education Committee, Sam Olumekun, in a statement issued Thursday said the commission arrived at the conclusion after it considered and approved the report of its physical count of the signatures/thumbprints forwarded with the petition in line with Clause 2(b) of the Regulations and Guidelines for Recall 2024 at its meeting on Thursday.

    He recalled that the Commission had assured Nigerians that it would handle the matter with fairness to the parties involved and in line with the provisions of the law and our Regulations and Guidelines.

    Olumekun said: “First, we ensured that the petitioners complied with the requirements for the submission of the petition.

    “Secondly, we notified the member sought to be recalled in writing, copied the presiding officer of the Senate and simultaneously published the notice on our website.

    “Thirdly, we informed Nigerians that the next step would be to carefully ascertain the number of signatures/thumbprints to ensure that the petition complies with the requirement of the law. This exercise has now been completed.”

    Olumekun emphasised that a petition for the recall of a Senator must comply with the provision of Section 69(a) of the Constitution of the Federal Republic of Nigeria 1999 (as amended) which requires the signatures of more than one-half of the registered voters in the constituency.”

    He added: “The total number of registered voters in the Kogi Central Senatorial District is 474,554. More than one-half of this figure (i.e. 50%+1) is 237,277+1 which is at least 237,278 voters.

    “Across the 902 Polling Units in 57 Registration Areas and five Local Government Areas that make up the Senatorial District, the Commission ascertained 208,132 signatures/thumbprints from the submission made by the petitioners.

    “This translates to 43.86 per cent of the registered voters which falls short of the constitutional requirement by 29,146 signatories.

    “Consequently, the petition has not met the requirement of Section 69(a) of the Constitution. Therefore, no further action shall be taken on the recall of the Senator.”

    Olumekun stressed that in line with the provision of Clause 2(d) of the Regulations and Guidelines for Recall 2024, the Commission has issued a Public Notice to that effect which is also copied to the presiding officer of the Senate.

    He noted that the Public Notice, along with a summary of the review of the signatures/thumbprints of the petitioners, which are disaggregated by Local Government Areas, are available on its website and social media platforms for public information.

    ​  

    Adedayo Akinwale in Abuja The Independent National Electoral Commission (INEC) has declared that the petition for the recall of the Senator representing Kogi Central, Natasha Akpoti-Uduaghan did not meet constitutional

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