News

States Kick Over N200b FAAC Remittance Shortfall

Published

5 months ago

February 23, 2025

...Accuse NNPCL of making ‘incomplete’ payments

…Experts reconciling subsidy outlay ahead next meeting

The Forum of Commissioners of Finance under the Federation Account Allocation Committee (FAAC) is demanding immediate action from the Nigerian National Petroleum Company Limited (NNPCL) on the remittance of about N200 billion to the Federation Account.

The forum said the NNPCL has made only one incomplete remittance of less than N200 billion to the Federation Account since October 2024.

Dispute between the states and the organisation is blamed for the inability of FAAC to convene for its monthly meeting last week.

It is understood that both parties are in touch to resolve the issue.

Chairman of the Forum, Akin Oyebode, told The Nation that “Subsidy ended in October 2024. Since then, NNPCL has only made one incomplete payment of under N200 billion to the federation.”

Oyebode said states and local governments need more resources to fulfill their obligations.

He explained that NNPCL is responsible for three types of payments: royalties to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), taxes to the Federal Inland Revenue Service (FIRS) and dividends to the federation as its shareholder.

Due to NNPCL’s irregular remittances, a reconciliation of subsidy arrears is underway to determine whether the federation owes NNPCL or vice versa.

Oyebode stressed that until this reconciliation is concluded and a payment plan is agreed upon, NNPCL should fulfill its financial obligations to the federation.

On last week’s stalled meeting of FAAC, Oyebode said talks were ongoing to establish clear terms of engagement with NNPCL.

“If NNPCL presents a reasonable position, the meeting will hold soon. Commissioners are ready to return to Abuja,” he said.

Oyebode downplayed any notion of conflict, stressing that both parties were working towards a mutual agreement.

He described President Bola Tinubu’s subsidy removal policy as a catalyst for these financial discussions, which were previously impossible under the subsidy regime.

On resolving NNPCL’s inconsistent remittances, Oyebode expressed optimism that the reconciliation would be completed within weeks.

Once concluded, both parties will agree on a payment plan.

If it is established that the federation owes NNPCL, it may need to adjust its revenue allocation.

If, on the other hand, NNPCL owes the federation, it must propose a repayment plan.

Oyebode is hopeful that the matter would be fully resolved before the end of 2025.

The Chief Corporate Communications Officer, Mr Olufemi Soneye, who The Nation contacted for a response had not responded to the message sent to him as at press time yesterday.

He was also yet to return the telephone calls made to him.

FAAC comprises the minister of finance as chairman, all state commissioners of finance, state accountants-general, the accountant-general of the federation and the permanent secretary of the federal ministry of finance and members meet every month to allocate federally collected revenues.

The Federal Government collects 52.68 per cent of the revenue, states 26.72 per cent and the 774 local governments 20.60 per cent.

News

WAFCON Final: Super Falcons Coach, Madugu Gives Reason For Dropping Ex-Liverpool Forward Babajide

Published

39 minutes ago

July 26, 2025

Editor

Super Falcons coach, Justin Madugu, has given reasons for dropping former Liverpool attacker, Rinsola Babajide, to the bench.

The coach defended his team selection ahead of the Super Falcons’ final clash with Morocco in the 2024 Women’s Africa Cup of Nations.

Babajide, who impressed in her first outing, scoring one and providing an assist in Nigeria’s 3-0 win against Tunisia, has seen limited action since the group stage.

Her last game in the tournament was a brief cameo of just 13 minutes against Algeria.

However, addressing the press ahead of Saturday’s final, the coach explained his decision, insisting it should not be about a particular player.

“It’s a team thing, not about an individual; it’s about the team,” he said.

“The fact that she has not been on the field of play does not mean she has not been playing well.

“She has been instrumental in motivating the players, trying to get them to understand what is at stake.

“She has been fully supportive of everything that we do, and we are making our choices based on what we see and intend to do. She could have a role to play tomorrow.”

Madugu has preferred to use Folashade Ijamilusi, Chinwendu Ihezuo, and Esther Okoronkwo upfront.

News

FULL LIST: 18 Nigerian States US Govt Warned Citizens Against Visiting

Published

5 hours ago

July 26, 2025

Editor

The United States government has warned its citizens against travelling to 18 Nigerian states, citing the high risk of terrorism, kidnapping, armed gangs, violent crime, and unreliable healthcare services.

In a statement issued by the US Mission in Nigeria and published on its website, the US advised Americans to reconsider any planned trip to Nigeria, noting that all parts of the country carry “significant security risks.”

“Reconsider travel to Nigeria due to crime, terrorism, civil unrest, kidnapping, armed gangs, and inconsistent availability of health care services. Some places in Nigeria have an increased risk. Overall, all locations carry significant security risks. Read the entire Travel Advisory,” the statement read.

The advisory placed 18 states on Level 4 – the highest threat level – and urged Americans not to travel to those states for any reason.

States Americans are advised not to travel to:

Due to terrorism and kidnapping:

Borno
Yobe
Kogi
Northern Adamawa

Due to kidnapping:

5. Bauchi

6. Gombe

7. Kaduna

8. Kano

9. Katsina

10. Sokoto

11. Zamfara

Due to crime, kidnapping, and armed gangs:

12. Abia

13. Anambra

14. Bayelsa

15. Delta

16. Enugu

17. Imo

18. Rivers (except Port Harcourt)

The advisory also warned of the poor state of Nigeria’s healthcare system. “U.S. citizens should not expect the same level of health care to be available in Nigeria as they do in the United States,” it said, noting a shortage of common medicines, unreliable emergency services, and the risk of counterfeit drugs.

Travellers were advised to bring all necessary medications, update their vaccinations, purchase medical evacuation insurance, and prepare backup plans in case of emergency.

The advisory, however, urged those who choose to travel to stay alert, carry proper identification, avoid large gatherings, and enrol in the Smart Traveler Enrollment Program (STEP) to receive updates and enable their location to be tracked in emergencies.

News

Court Remands Tiktoker Who Claimed President Tinubu Died

Published

5 hours ago

July 26, 2025

Editor

A Chief magistrate court, on Friday, in Abuja, remanded at the Keffi Correctional Centre, a social media influencer, Ghali Isma’il, who posted online videos purporting that President Bola Tinubu died as a result of a serous illness.

Department of State Services (DSS) operatives arrested Isma’il days after he posted the fake videos on the TikTok handle @bola_asiwaju.

Count one of the two-count charge, titled “Publication of false news with intent to cause offence against public peace, ” read: “That you, Ghali Ismail, Male, twenty-nine (29) years of Jogana village, Gezawa LGA, Kano State, on or about the 20th Day of July, 2025 and within the jurisdiction of this Honorable Court, did publish false information by uploading a video clip on your verified Tiktok handle (“bola-asiwaju”) wherein you falsely claimed that you reliably confirmed from official sources that President Bola Ahmed Tinubu was critically ill, having been poisoned through his meal, with intent to cause public alarm and disturb public peace.

“You thereby committed an offence punishable under Section 418 of the Penal Code Act, Cap P3, Laws of the Federation of Nigeria, 2004.

Count two, “Inciting Disaffection to the Government,” read: “That you, Ghali Ismail, Male, twenty-nine (29) years, of Jogana village, Gezawa LGA, Kano State, on or about the 20th Day of July, 2025 and within the jurisdiction of this Honorable Court, did publish false information by uploading a video clip on your verified Tiktok handle (“bola-asiwaju”) wherein you falsely claimed that you reliably confirmed from official sources that President Bola Ahmed Tinubu was critically ill, having been poisoned through his meal, with intent to bring contempt or incite feelings of disaffection against the person of the President. You thereby committed an offence punishable under Section 416 of the Penal Code Act, Cap P3, Laws of the Federation of Nigeria, 2004.”

After taking arguments by both counsels to the DSS and that of the defendant, whose application for bail was denied, the presiding judge, Ekpeyong Iyang, ordered Ismail to be remanded in Keffi Correctional Centre. The matter was then adjourned till August 19.