PETER OBI AND KWANKWASO BEING PRESENTED WITH THEIR PARTY CARDS. (VIDEO/PHOTO).

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Peter Obi and Rabiu Kwankwaso have arrived at the Nigeria Democratic Congress (NDC) secretariat in Abuja, amid cheers from supporters, marking a significant shift in Nigeria's political landscape. They are strengthening unity ahead of the 2027 elections.  The two leaders, who previously quit the African Democratic Congress (ADC) due to internal crises and hostility, are expected to hold a consultative meeting with NDC leaders to discuss future collaborations , Peter Obi cited a toxic political environment, internal crises, and external interference as ons for leaving the ADC. He emphasized the need for genuine service delivery and national progress. The NDC has reportedly offered Obi and Kwankwaso a joint presidential ticket for the 2027 elections, with a short timeframe to decide on the offer.   The development has sparked reactions, with some Nigerians welcoming the move as a step towards strengthening democracy and opposition parties. Others have expressed skepticism, ...
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FG STOPS NNPC DEDUCTIONS; ORDERS DIRECT OIL PAYMENTS TO FEDERATION ACCOUNT. (PHOTO).

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FG Stops NNPC Deductions; Orders Direct Oil Payments To Federation Account

The Federal Government has taken steps to tighten control over the country's petroleum revenues, following the inaugural meeting of the Implementation Committee for Executive Order 9, signed by President Bola Ahmed Tinubu.

Key decisions reached include stopping NNPC Limited from collecting the 30% management fee and 30% frontier exploration fund deductions from profit oil and gas under Production Sharing Contracts with immediate effect. Gas flare penalties remittances into the Midstream and Downstream Gas Infrastructure Fund have also been suspended.

Contractors will now make direct payments of profit oil, royalty oil, and tax oil into the Federation Account, but with a transition period to respect existing contracts and maintain investor confidence, while a Technical Subcommittee has been set up to develop guidelines for the transition and review the Petroleum Industry Act to address revenue weaknesses.

The Implementation Committee, chaired by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, assured stakeholders of continued coordination and regular updates while commending their cooperation in ensuring that Nigeria’s petroleum resources yield greater benefits for citizens nationwide.

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