News

Reps Probe Alleged $4bn Crude Oil Theft

Published

2 years ago

July 13, 2023

Editor

The House of Representatives has resolved to investigate crude oil theft to the tune of $4 billion, with a view to curbing economic loss to the country and ensuring that everyone involved was brought to book.

The resolution of the House followed the adoption of a motion on the: “Need to Investigate Crude Oil Theft and Loss of Revenue Accrued from the Oil and Gas Sector in Nigeria” brought by Philip Agbese.

Agbese stated that in recent times, the media had been replete with news of the loss of trillions of naira as a result of crude oil theft and loss of revenue from oil and gas exploration in the country.

He said: “According to reports, about 40 per cent of crude oil loss is due to inaccuracies in measurement, and theft as metering errors continue to occur as a result of poor maintenance of metering facilities, thus resulting in lack of transparency in hydrocarbon accounting.”

He said reports revealed that in 2021 alone, Nigeria lost $4 billion to oil theft at the rate of 200,000 barrels per day, adding that the figures had risen since then.

According to him, security agencies are allegedly complicit and largely responsible for facilitating most of the oil theft in the Niger Delta.

Agbese stressed further that the military had been accused severally of being behind 99 per cent of oil theft, wondering why the federal government had not taken action to address the malfeasance.

“A 2022 report by the Nigerian Extractive Industry Transparency Initiative, NEITI, revealed that about 619.7 million barrels of crude oil, valued at $46.1 6billion have been stolen in the last 12 years, while stakeholders have often described crude oil theft in the country as an organized crime perpetrated by the elite.

“In spite of the huge funds appropriated to adequately equip Nigeria’s security and intelligence agencies, their performance in terms of curbing oil theft has been abysmal.

”Despite the enormous resources at the disposal of the NNPC Ltd and the Nigerian Upstream Petroleum Regulatory Commission, NUPRC, they have, in active connivance with national and multinational oil and gas companies, allegedly continued to sabotage every effort to ensure an effective running of metering facilities at the well heads, flow stations, loading platforms.

“If crude oil theft is allowed to go on unhindered, it will result in, not only devastating consequences to the country’s economy, but will also gravely impact the environment, health and social life of the host communities,” he said.

The motion was referred to a yet-to-be-constituted ad hoc committee when constituted, to report back to the House within four weeks.

News

FG Shuts 22 Illegal Tertiary Institutions

Published

4 hours ago

August 25, 2025

Editor

The National Commission for Colleges of Education has uncovered and shut down 22 illegal Colleges of Education.

The discovery was made during a crackdown on illegal colleges of education in the country.

The development was revealed in the commission’s achievements, seen by our correspondent.

“The NCCE identified and shut down 22 illegal Colleges of Education operating across the country.

“The NCCE conducted personnel audit, financial monitoring in all the 21 federal colleges of education,” the commission said.

President Bola Tinubu had recently urged the National Universities Commission, the National Board for Technical Education and the National Commission for Colleges of Education to weed out illegal higher institutions of learning in the country.

Speaking at the 14th convocation of the National Open University of Nigeria in Abuja, the President ordered the NUC, the NBTE, and other agencies to take decisive action against what he described as “certificate millers” undermining the credibility of the education sector.

Tinubu, who was represented by the Director of University Education at the Federal Ministry of Education, Rakiya Ilyasu, warned that the integrity of the academic system must not be compromised.

“At this juncture, it has become imperative to reiterate that this administration remains committed to strengthening the integration of all agencies involved in the administration of education to enhance efficiency and quality,” the President said.

He added, “The National Youth Service Corps, the Joint Admissions and Matriculation Board, the National Universities Commission, the National Board for Technical Education and the National Commission for Colleges of Education are working in alignment to improve the quality of education and ensure that cases of forgery and unrecognised institutions both within and outside the country have no place in our education ecosystem.”

News

EFCC Orders Arrest Of Dismissed Officer On Lege Miami’s Show

Published

6 hours ago

August 25, 2025

Editor

The Economic and Financial Crimes Commission has condemned the actions of one of its former staff, Olakunle Alex Folarin, who was recently spotted participating in a matchmaking programme on social media platforms hosted by popular entertainer Lege Miami.

The agency has ordered his immediate arrest for retaining official EFCC property, including an identity card, following his dismissal for certificate forgery.

The anti-graft agency, in a statement on its official X handle on Monday, said Folarin served as a driver at the EFCC’s Ibadan Zonal Directorate.

He was, however, dismissed after investigations confirmed he had forged his academic credentials.

It said, “The Economic and Financial Crimes Commission, EFCC, condemned in the strongest terms, the involvement of one of its former staff, Olakunle Alex Folarin, in a matchmaking programme running on Lege Miami social media platforms.”

“Folarin was recently dismissed from the Commission for certificate forgery. He was a driver at the Ibadan Zonal Directorate of the EFCC.”

The statement said EFCC Executive Chairma,n Mr. Ola Olukoyede, has ordered Folarin to be arrested and emphasised that Folarin’s actions should not be associated with the commission.

“The Executive Chairman of the EFCC, Mr. Ola Olukoyede, has ordered his arrest for being in possession of some Commission’s properties, including an identity card, which he should have handed over upon being dismissed from the EFCC.

“The public is advised against associating Folarin’s post-dismissal conduct with the EFCC,” the statement concluded.

News

NERC Transfers Regulation Of Electricity Market To Bayelsa

Published

6 hours ago

August 25, 2025

Editor

The Nigerian Electricity Regulatory Commission has transferred regulatory oversight of the electricity market in Bayelsa State to the Bayelsa Electricity Regulatory Agency.

In a notice on its social media handles on Monday, the commission said this was in compliance with the amended 1999 Constitution and the Electricity Act 2023.

“In compliance with the amended Constitution of the Federal Republic of Nigeria and the Electricity Act 2023 (Amended), the Nigerian Electricity Regulatory Commission has issued an order to transfer regulatory oversight of the electricity market in Bayelsa State from the Commission to the Bayelsa State Electricity Regulatory Agency,” the commission said.

Recall that with the Electricity Act 2023, the commission retains the role as a central regulator with regulatory oversight on the interstate/international generation, transmission, supply, trading, and system operations.

The Act also mandates any state that intends to establish and regulate intrastate electricity markets to deliver a formal notification of its processes and requests NERC to transfer regulatory authority over electricity operations in the state to the state regulator.

The transfer order by NERC directed Port Harcourt Electricity Distribution Company Plc to incorporate a subsidiary distribution company to assume responsibilities for intrastate supply and distribution of electricity in Bayelsa State from PHED.

PHED was also directed to complete the incorporation of PHED SubCo within 60 days from August 21, 2025.

“The subcompany shall apply for and obtain a licence for the intrastate supply and distribution of electricity from BYERA, among other directives,” the commission said.

It concluded that all transfers envisaged by the order shall be completed by February 20, 2026.

With this order, Bayelsa has joined states like Lagos, Imo, Ogun, Ondo, Ekiti, Enugu, Niger, Edo, Oyo and Plateau, which have got the power to regulate electricity markets.

The state can now generate, transmit, and distribute electricity while issuing licences to investors within the value chain.