PRESIDENT TINUBU CONGRATULATES MINISTER OF STATE FOR FOREIGN AFFAIRS AMBASSADOR ENIKANOLAIYE ON HIS BIRTHDAY. (PHOTO).

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 PRESIDENT TINUBU CONGRATULATES MINISTER OF STATE FOR FOREIGN AFFAIRS AMBASSADOR ENIKANOLAIYE ON HIS BIRTHDAY   President Bola Tinubu has congratulated the Minister of State for Foreign Affairs, Ambassador Sola Enikanolaiye, on his birthday.    A statement by Bayo Onanuga, Special Adviser to the President, Information and Strategy, indicates that the President describes Ambassador Enikanolaiye as a distinguished diplomat, accomplished administrator and dedicated public servant whose career reflects professionalism, patriotism and a deep commitment to Nigeria.   Ambassador Enikanolaiye served in the Ministry of Foreign Affairs from August 1982 to August 2017, rising through the ranks to become Permanent Secretary. He later served as Senior Special Assistant to the President on Foreign Affairs and International Relations before he was appointed Minister of State for Foreign Affairs.   President Tinubu commends the celebrant’s significant contributions to Nige...

OIL COMPANIES UNREMITTED REVENUE HITS $8.3BN- NEITI. (PHOTO).


Oil companies unremitted revenue hits $8.3bn – NEITI

Over $8.3 billion revenue has not been remitted to the Federation Account by some privately owned oil companies and federal governments agencies since 2011.

Executive Secretary/CEO of the Nigeria Extractive Industries Transparency Initiative (NEITI), Dr Ogbonnaya Orji made the disclosure to the House of Representatives Committee on Public Accounts.

Dr Orji was before the lawmakers to present a report on the $74.386 billion spent on fuel subsidies by successive administrations since 2011, as the agency compiled the actual amount paid as subsidy on a yearly basis.

According to him, Nigeria has also lost N16.25 trillion to unabated crude oil theft, based on data collated and signed off by the operators and other stakeholders from 2011.

The Executive Secretary stated that the agency is working with various enforcement institutions, including the Economic and Financial Crimes Commission (EFCC), the Independent Corrupt Practices and Related Offences Commission (ICPC), and the Nigeria Financial Intelligence Unit (NFIU), to recover the funds.

“I have here, for instance, revenues we have earned from oil and gas since 1999. We also have here all the subsidy payments made. Since 2005, when it became a scandal, we have begun to collect the data. We began to ask questions about subsidies, and as of 2021, the country had paid $74.386 billion in subsidies.


 

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