CATHOLIC PRIESTS NOT LIKE ‘FAKE BISHOPS’, ATIKU BLASTS PRESIDENCY’S ATTACK ON ONAIYEKAN. (PHOTO)

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Catholic Priests Not Like ‘Fake Bishops’, Atiku Blasts Presidency’s Attack On Onaiyekan Presidential Candidate of the African Democratic Congress ADC, Atiku Abubakar, has condemned the Presidency’s attack on the Catholic Church and John Cardinal Onaiyekan, accusing the President Bola Tinubu administration of growing intolerant of dissent and uncomfortable truths. In a statement by his Senior Special Assistant on Public Communication, Phrank Shaibu on Sunday, Atiku said the Presidency chose intimidation and political attacks instead of reflecting on the substance of the cleric’s message. Catholic bishops had recently had an engagement with the president, where the latter defended his record and the independence of the electoral umpire. However, the cardinal in a television interview on Friday said the Catholic bishops told the president that the country is bleeding and the economy is not helping poor citizens. According to him, Tinubu and his officials present at the meeting were “not l...
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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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