BUA Refinery and Petrochemical has announced that it is on track to complete its $3.8 billion plant in Akwa Ibom.

In a statement on Saturday, the firm dismissed reports that the refinery is 90 percent complete.

The clarification comes amid reports that the 200,000-barrel-per-day refinery is 90 percent completed.

However, the company described the report as misleading.

“Contrary to a misleading report stating that our 200,000 barrels/day refinery is
at 90% completion, BUA wishes to advise the public to disregard such misleading
reports that did not emanate from us.

“As we make remarkable strides on our Akwa lbom refinery project, we are proud to Share that construction is progressing steadily. Whilst the refinery is not at 90 percent completion, we are, however, on track to meet our delivery timelines in collaboration with our partners.”

DAILY POST reports that in January 2024, the Dangote Refinery kicked off theproduction of petroleum products.

The 650,000 barrels per day refinery started rollout of petrol in September 2024.

Most recently, the Nigerian National Petroleum Company Limited announced that Port Harcourt and Warri refineries have restarted operations after rehabilitation in November and December 2024.

The Independent National Electoral Commission (INEC) says it is not planning to destroy uncollected permanent voter cards (PVCs).

An online report recently claimed that the electoral commission wanted to destroy six million uncollected PVCs.

In a statement on Sunday, INEC described the report as “false” and advised members of the public to ignore it.

“Our attention has been drawn to a newspaper report that the Commission is contemplating the destruction of over six million uncollected Permanent Voters’ Cards (PVCs) going back to the 2015 voter registration,” the statement reads.

“The report is incorrect. At no time did the Commission contemplate the destruction of uncollected PVCs. The public is advised to discountenance the story.”

In December 2024, INEC proposed the use of computer-generated slips for voter accreditation during elections.

Mahmood Yakubu, INEC chairman, had said the introduction of the bimodal voter accreditation system (BVAS) calls for a review of the use of the PVC as the sole means of voter identification on election day.

 

Yakubu said the commission would soon approach the national assembly with its recommendations for electoral reform.

Forty-eight hours before the 2023 presidential election, the commissionannounced that 87,209,007 PVCs had been collected across the country.

The PVCs collection data meant that 93.3 percent of 93,469,008 registered voters had collected their PVCs.

However, 6,259,229 PVCs—representing 6.7 percent of PVCs—remain uncollected.

President Bola Tinubu will depart Lagos on January 6, 2025, for Accra, the capital of Ghana, to attend the inauguration of President-elect John Mahama on January 7, 2025.

This was contained in a statement on Sunday by presidential spokesman Bayo Onanuga.

Mahama, who served as the 12th president of Ghana between 2011 and 2017, was reelected in December 2024. He will succeed President Nana Akuffo-Addo (2017-2025).

Onanuga said, “Tinubu’s trip to Accra is at the invitation of the president-elect, who had visited the Nigerian leader earlier in December.

“Mahama and Tinubu have a longstanding personal relationship, just like Nigeria and Ghana maintain a longstanding bilateral relationship.”

Tinubu, as Chairman of the ECOWAS Authority of Heads of State and Government, would join other African leaders at the ceremony.

Onanuga said the Minister of State for Foreign Affairs, Bianca Odumegwu-Ojukwu, and other senior government officials would accompany Tinubu on the trip.

The Socio-Economic Rights and Accountability Project (SERAP) has urged the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari to “account for and explain the whereabouts of the alleged missing N825bn and $2.5bn meant for ‘refinery rehabilitation’ and other oil revenues, as documented in the 2021 annual report by the Auditor-General of the Federation.”

SERAP said the annual report was published on Thursday 27 November 2024.

SERAP urged Kyari “to identify those suspected to be responsible for the disappeared oil money and hand them over to the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and the Economic and Financial Crimes Commission (EFCC).”

SERAP also urged him “to formally invite former president Olusegun Obasanjo to tour Nigeria’s refineries and to extend your invitation to the EFCC and ICPC to monitor the operations of the refineries, and any spending on them, including the Port Harcourt and Warri refineries.”

In the letter dated 4 January 2025 and signed by SERAP deputy director Kolawole Oluwadare, the organisation said: “We welcome your timely public invitation to former president Obasanjo ‘to tour the Port Harcourt and Warri refineries.

“While your invitation is clearly not ‘disrespectful’, contrary to the claims by the former president because no one is above the law, we urge you to formally invite him, and to extend your invitation to the EFCC and ICPC for the sake of transparency and accountability.”

SERAP also said, “Your public invitation to Obasanjo is well-justified, and entirely consistent with the letter and spirit of the Nigerian Constitution 1999 [as amended] and the country’s international obligations on the obligations of the NNPCL and the roles of citizens in preventing and combating grand corruption.”

The letter, read in part: “The grim allegations by the Auditor-General suggest a grave violation of the public trust and the provisions of the Nigerian Constitution, national anticorruption laws, and the country’s international obligations.”

“The allegations have also undermined economic development of the country, trapped the majority of Nigerians in poverty and deprived them of opportunities.”

“We would be grateful if the recommended measures are taken within 7 days of the receipt and/or publication of this letter. If we have not heard from you by then, SERAP shall consider appropriate legal actions to compel the NNPCL to comply with our requests in the public interest.”

“According to the recently published 2021 audited report by the Auditor General of the Federation (AGF), the Nigerian National Petroleum Corporation Limited (NNPCL) failed to account for over N825 billion and USD$2.5 billion of public funds meant for ‘refinery rehabilitation’ and repairs, and other oil revenues.”

“The Auditor-General fears that the money may be missing.”

“The NNPCL reportedly failed to account for over N82 billion [N82,951,595,510.47] meant for ‘refinery rehabilitation and repairs.’ The ‘money was deducted from the sale of Crude Oil and Gas between 2020 and 2021’.”

“The Auditor-General fears the money may be missing. He wants the money recovered and remitted to the Federation Account. He also wants the NNPCL ‘to ensure that the amounts due for the Federation Account are not subjected to any deductions before remittance of net.’”

“The NNPCL also reportedly failed to account for over N343 billion [N343,642,598,726.51] ‘being proceeds from domestic crude sales.’ The ‘money, meant for ‘pipelines maintenance and management costs, was unilaterally deducted from the gross domestic crude sales.’”

“The Auditor-General fears ‘the money may have been diverted.’ He wants the money recovered and remitted to the treasury. He also wants the NNPCL to hand over those suspected to be involved to the EFCC and ICPC.”

“The NNPCL also reportedly failed to account for over N83 billion [N83,659,813,739.99] ‘being miscellaneous income from the NNPC joint venture operations from 2016 to 2020.’ The ‘money was withdrawn from the CBN/NNPC sinking fund account [a suspense account].’”

“The Auditor-General is concerned that this practice ‘has led the Federation to resort to borrowings.’ He wants ‘the money recovered and remitted to the treasury.’”

“The NNPCL also reportedly failed to account for over N204 billion [N204,853,744,047.39] ‘being unjustified deductions from the oil royalties for 2021.’ The ‘money was due to Department of Petroleum Resources (DPR) now Nigerian Upstream Petroleum Regulatory Commission (NUPRC).’”

“The Auditor-General fears ‘the money may have been diverted.’ He wants the money recovered and remitted to the treasury.”

“The NNPCL also reportedly failed to account for over N3.7 billion [N3,748,581,281.27] ‘being money purportedly paid to a Company as a shortfall on sales of MT cargo of PMS.’ The Auditor-General fears the money may be missing. He wants the money recovered and remitted to the treasury.”

“The NNPCL also reportedly failed to account for over N28 billion [N28,654,179,867.00] ‘being outstanding bridging allowance from NNPC retail for 2021.’”

“The NNPCL failed to account for over N13.5 billion [N13,5559,658,148.91] ‘being outstanding bridging allowance claims from three major oil marketers in 2021.’”

“The Auditor-General is concerned that this ‘may have resulted in difficulty in funding the 2021 budget.’ He wants ‘the money recovered from both the NNPC retail and the major oil marketers and remitted to the Federation Account.’”

“The NNPCL also reportedly failed to account for over N15 billion [N14,134,947,949.80 and N1,087,533,332.62] ‘being outstanding revenues from debts owed by twenty-six marketers for 2021.’ The Auditor-General wants ‘the money recovered from the oil marketers and remitted to the Federation Account.’”

“The NNPCL reportedly failed to account for over $29.6 million [$29,648,970.36] ‘being outstanding royalties payable to the Department of Petroleum Resources CBN account.’ The Auditor-General is concerned this ‘may have resulted in difficulty in funding the 2021 budget.’ He wants the money recovered.’”

“The NNPCL failed to collect over $2 billion [$2,260,448,992.45] ‘being outstanding oil royalties from oil companies for 2021’, and failed to collect over N48 billion [N48,218,163,192.67] ‘also being outstanding oil royalties from oil companies.’”

“The Auditor-General fears that ‘the money may be missing.’ He is concerned that this ‘may have resulted in difficulty in funding the 2021 budget.’ He wants ‘the money recovered from the oil companies and remitted to the Federation Account.’”

SERAP notes that Section 15(5) of the Nigerian Constitution 1999 (as amended) requires public institutions to abolish all corrupt practices and abuse of power.”

“The Auditor-General has for many years documented reports of disappearance of public funds from the NNPC. Nigerians continue to bear the brunt of these missing public funds meant for refinery rehabilitation.”

The Nigerian Army said on Sunday that its troops in operations conducting anti-oil theft operations have destroyed 20 illegal refining sites, arrested 11 crude oil thieves and confiscated 190,000 litres of Stolen products.

Troops also destroyed 31 boats used for siphoning and transporting stolen products while seven (7) vehicles intercepted with over 190,000 litres of stolen products were recovered during the operation.

A statement by the Army said troops in collaboration with other security agencies, achieved the fear “after scaling up ongoing strangulation operations aimed at dismantling the network of criminal enterprise run by oil thieves in the Niger Delta Region (NDR).

It said the operations were conducted from 30 December 2024 to 5 January 2025.

“In a deliberate operations conducted around Oando wellhead at Benkrukru at Okordia general area in Yenagoa, Local Government Area (LGA), Four oil sewage were discovered.

“The sewage were filled with over 70,000 litres of stolen crude.

“Additionally, one sunction machine and about 700 litres of illegally refined Automotive Gas Oil (AGO) packed in sacks were recovered.

“Relatedly, at Amalaghakiri general area in Nembe LGA, two illegal refining sites were taken out, with over 15,000 litres of stolen products confiscated.

“While at Oyeregbene in Southern Ijaw LGA, one illegal refining site was destroyed with over 1,500 litres of stolen products handled appropriately.

“In Rivers State, around Omoku, troops closed on oil thieves, who fled in disarray on sighting troops.

“Further exploitation led to the discovery of an illegal connection point on Oando Pipeline, around Ebocha with four boats ladened with over 22,000 litres of stolen products recovered.

“At Obiafu Oil field, in Ogba/ Egbema/ Ndoni LGA, wooden boats and dugout pits stocked with over 8,000 litres of stolen products were handled.

“Around Mgbede, 4 illegal refining sites, five wooden boats, 108 locally made ovens, several tanks with over 31,000 litres of stolen products were recovered.

Suspected terrorists have killed the Acting Chairman of Miyetti Allah Cattle Breeders Association of Nigeria (MACBAN) in Katsina State, Alhaji Amadu Surajo.

The terrorists also killed three other people and injured several others.

The incident occurred in the late hours of Saturday night into the wee hours of Sunday morning when the hoodlums attacked Mai Rana village in Kusada Local Government Area.

It was gathered that the terrorists abducted the first and second wives of the acting chairman, along with one of his daughters, who is an undergraduate at one of the public universities in the country.

A source familiar with the incident, however, said Surajo’s first wife was later released by the hoodlums.

Before his death, Surajo was the state Secretary of MACBAN before he was elevated to Acting Chairman.

His current portfolio came about after the National Vice President of MACBAN, who doubled as Chairman of the association in the state, Munnir Lamido, disappeared mysteriously in June last year.

According to reports, Lamido had left his Katsina residence on June 23 and was travelling to Kaduna State.

He was said to have informed family members by phone that he had stopped in Zaria to eat at a restaurant.

But his whereabouts became unknown after family and friends tried to reach him some hours later; his vehicle and two phones were later recovered along Maraban Jos, just before entering Kaduna town.

He was declared missing by security operatives a few days later, and his whereabouts have remained unknown ever since.

Following Saturday night’s incident, sources said security operatives had been deployed to the community to ensure peace and investigate the incident.

The remains of Surajo and the other deceased persons are expected to be buried later on Sunday morning according to Islamic rites, while the injured have been hospitalized and are receiving treatment.

Though several council areas face security challenges in the state, Kusada Council is not among them.

This has led to speculation from some quarters whether the attack was more than just terrorism or a banditry attack.

However, the spokesperson for the police command in the state, ASP Abubakar Aliyu, was yet to respond to inquiries about the incident at the time of the report.

• How Delta, Rivers, A/Ibom, Lagos, Bayelsa raked in N1.8tr

• Allocation grew by 95.49% in two years

The Federation Account Allocation Committee (FAAC) disbursed a total of N5.38 trillion to the 36 states and the Federal Capital Territory (FCT) between January and December 2024, according to figures obtained by The Nation.

This amount represents an increase of about N1.46 trillion over the N3.92 trillion received by the states and the FCT in the previous year.

The states received a total of N412.09 billion in January; N406.96 billion in February; N454.70 billion in March and N428.24 billion in April.

A total of N463.04 billion got to them in May; N365.81 billion (lowest allocation for the year) in June before going up to N461.98 billion in July and N473.48 billion in August.

Others were as follows: September: N422.86 billion; October: N453.72 billion; November: N490.70 billion and December: N549.79 billion which was the highest allocation for the year.

These variations in allocation were influenced by overall revenue performance and the criteria used by FAAC to calculate the allocations.

In comparison, 2023 allocations were much lower, peaking at N396.21 billion in January and hitting a low of N259.50 billion in April.

The discrepancies highlight improved revenue generation in 2024, driven by the removal of fuel subsidies, increased oil sales and better earnings from non-oil sectors, including taxes and royalties.

Among the states, Delta received the highest allocation in March 2024 with N62.7 billion, followed by Rivers State with N41.7 billion, and Akwa Ibom State with N41.6 billion. The oil-producing states benefit from the derivation principle, which ensures a part of oil revenue goes directly to Niger Delta states.

The increase in allocations is expected to assist state governments in enhancing infrastructure, education, healthcare and economic development. Stakeholders have urged responsible spending to ensure improvement in citizens’ quality of life.

A breakdown of the state by state allocations shows that Delta, Rivers, Akwa Ibom, Lagos and Bayelsa received the highest allocations

Delta got a total of N485bn; Rivers, N384bn; Akwa Ibom, N338bn; Lagos, N321bn and Bayelsa, N293bn.

Other top revenue allotees are: Kano, N166bn; Edo, N124bn; Ondo, N122bn; Anambra, N115bn and Oyo N113bn.

With a total of N5.38 trillion allocated in 2024, experts are optimistic about continued revenue growth into 2025.

Analysts believe that diversifying the economy and improving revenue collection methods could sustain or exceed last year’s accomplishments.

Looking at trends from 2022 to 2024, governmental allocations have significantly increased since June 2023, indicating more effective resource mobilization and equitable distribution of national revenues.

The Federal Government received N3.42 trillion in 2022, N3.96 trillion in 2023 and N4.65 trillion in 2024. Over these two years, it recorded a cumulative increase of 35.84 per cent.

State governments also benefited greatly during this period, receiving N2.75 trillion in 2022, followed by N3.92 trillion in 2023, and N5.38 trillion in 2024, therefore, the state governments received a 95.49 percent cumulative increase of FAAC allocations from 2022 to 2024.

The 774 local governments received N1.995 trillion in 2023 and N2.285 trillion in N3.994 trillion.

The LGAs experienced a 14.51 per cent increase in allocations in 2023 compared to 2022 period, reflecting a steady rise in funds allocated to grassroots governance.

There was a 74.76 per cent increase between 2024 and 2023, which shows a significant boost in revenue directed towards local development efforts.

Interestingly, over the two years (2022 to 2024), LGAs recorded a cumulative increase of 100.26 per cent, doubling their allocation.

Beneficiaries of 13 per cent Derivation Fund were not left out of the surge in FAAC allocations. In 2022, they received N601.049 billion, N454.677 billion in 2023 and N1.135.802 trillion in 2024.

Between 2022 and 2023, a 24.34 percent decrease was observed, reflecting possible fluctuations in oil revenue or derivation parameters. In 2023 and 2024, the allocation surged by 149.84 percent, marking a significant rebound and surpassing the 2022 figure.

From 2022 to 2024, the derivation fund recorded a cumulative growth of 88.93 per cent, emphasising the growing importance of the fund in fostering resource control.

The overall rise in FAAC allocations indicates the Federal Government’s commitment to fair revenue sharing across all levels of government. The increases in funding for states and LGAs reveal efforts to enhance service delivery and local governance.

The surge in these allocations also represents a hopeful trend in Nigeria’s federal revenue generation and distribution. However, it is crucial for state governments to manage these resources effectively and transparently to foster sustained growth and improve the quality of life for all Nigerians.

The secretary of the Eminent Elders Forum, Dr. Akin Fapohunda, has accused some few northern elites of holding Nigeria to ransom for over forty years based on tribalism and selfish interests.

Speaking on Sunday on Arise News while discussing the northern opposition to the tax reform bills proposed by President Bola Tinubu, Fapohunda submitted that the north has taken Nigeria for a ride for too long and it is time to call their bluff.

According to him, the North has forced policies such as federal character and quota system on the southern region while Nigerians from the south have been laid back in making demands.

Fapohuna argued that such policies have favoured the North over the South and only a few elite people in the North are benefitting from the federal policies at the expense of other citizens of the country.

He submitted that it is time for Nigeria to wake up and realize the interests of the South and the North are not in an alliance.

Speaking specifically on the Tax Reform Bills, the Secretary of the Eminent Elders Forum was of the opinion that the proposals can never work because Nigeria is not a unified country and “cannot be unified at all” by a unitary tax system.

He said, “The North, at the flip of a switch, are able to shout Northern interest. Southerners are laid back, hoping that oh, we are civilised, we don’t want to talk about tribalism. Tribalism is at play, we are pretentious about this matter. Look, the North has taken us for a ride for too long, they’ve forced federal character on Nigeria over 40 years. They forced quota system on Nigeria over forty years. Have they benefitted from it? Only the tiny clique in the North is holding the whole country to ransom. It’s enough time for Nigeria to wake up, we are not together, North nor South.

“Now they are talking, the elites, the few elites in the North, as if feeding bottle is about to be removed from their mouth. That’s what they’re doing, they’re shouting, they have formed a league now – League of Northern Democrats. The governor of Bauchi was talking, they won’t be able to pay salaries again, they won’t be able to do that.

“Look, the North has damaged Nigeria fundamentally with this attitude. Who are the Nigerians who are japaing now? They’re Southerners. The South invested in education massively in the 50s and the 60s. The products now have been driven out of Nigeria. Can you find a Fulani man in London or in New York practicing medicine or practicing engineering? It’s the Yorubas, the Igbos, Southerners that are marginalised. It’s time to call the bluff of the North, not because we even support what Tinubu is doing, but we have to converse about Nigeria. Nigeria is not – we are pretentious. Let’s go to the brass tacks. That’s why we are calling for regionalisation, the North is separate from the South, that’s just the truth, unless we are deceiving ourselves.”

“This tax matter will not unite Nigerians. If we concede to the North that they get more VAT, for doing what? They got federal character for forty years, what have they done with it? They got quota for forty years, what have they done with it? They’re just being spoilt, they don’t want to wake up to the reality that they’re not doing well, they’re not performing. And when you compromise, you kill the South. The energy is being sucked out of the South in trying to remedy and carry the North along. We should be tired of carrying them along, in all honesty. Somebody has to call their bluff. There’s no alternative to the South calling the bluff of the North,” he added.

Tinubu Looking In The Wrong Place

Fapohunda urged President Tinubu to focus his energy on other productive issues, arguing that pushing the controversial tax reforms is just a waste of time while other issues remain unattended to.

According to him, tax reform is not the policy that can set Nigeria on the path to greatness.

He said, “The president is not focusing in the right direction. Just one item, one item alone – Inheritance Tax. The North has a different perspective on Sharia. The South-West has different customs. The East has different approach. By trying to do a unitary tax system when we’re all having a different flavour of life, is that not a road to nowhere? On that account alone, I will not really agree on what President Tinubu is trying to do. In all honesty, President Tinubu is focused on this tax matter. That is going to be the mantra of his administration.

“Let’s assume that if the tax bill is passed in the next three, four, five months, what next? Mr President is staking his reputation, his political acumen on the tax bill, but there are many issues he’s supposed to have faced that he’s not talking about. Civil service is blighted. Civil servants are just looking to find a means to survive, they are not operating organically with the government, they are not. Orasanye report, President said he will do it within twelve weeks, he has done nothing about it.”

“In 2023, the president announced a N500 billion agric project, what has happened to it? He didn’t implement it. Now, we have livestock ministry. I know now they are looking for offices in Abuja. When are we going to get the first cow from the livestock ministry? So, overall, the focus on tax bill is totally not what Nigeria should be looking at now. There are more serious fundamental reforms. Tax bill is not the reform that we want. The country has to be reorganised and let all of us live separately, but as good neighbours. We are different, it’s just a fact. We can gloss over it from here to eternity.”

Don’t Be Cocksure

Naija News reports that Fapohunda also advised the President not to be overconfident that if he pushes the tax reform bills through, then every other thing would automatically fall in place.

He advised the President to gauge the feelings of the entire nation and not just stay in Abuja and assume all is going well.

“The President might use all his authority, all the presidential powers to get it through, and then what? What are the two elements in the tax reform? You are considering no tax to the lowest people, 130 million Nigerians who are destitute, then you want to tax the big companies.

“The big companies are folding up, they are leaving Nigeria, they cannot afford diesel to run generators. Even the ones they manufactured, no sales, there’s poor demand. So who will pay the tax? Is it run down companies that will pay the tax? Anybody earning below 70,000, no tax. Okay, so where is the money coming from? And when the money comes, to be spent on what? To be spent on deficit, to be spent on paying back loans that we have taken, that we have exhausted, that we have stolen, is that it?

“What are we going to use the tax for? It’s not tax that we need. Okay, let him get it through, fine, but is that the end of the tunnel? It is not in my opinion. But the president needs to be advised. It’s now almost two years that he’s been in the saddle. It’s time to think. His presidential chat that he had, he was so cock sure of everything, but that’s not the reality at all, he’s not cock sure. This February, it will be two years since he was elected. It is time to just re appraise issues. He’s hanging in the air, we, on the ground, we’re not feeling what he’s trying to do. He might be well meaning, but he’s not in the right direction at all.”

“We cannot be united when we’re not equally yoked. We’re unequally yoked, we cannot be united at all. But let everybody just live according to his own worldview, then the temperature will come down. But trying to stay in Abuja and put a package together for the whole country – from the North West to the South East, from the North East to the South West, it’s not going to work,” Fapohunda said.

BUA Group, an industrial conglomerate, has denied claims that its 200,000 barrels per day refinery in Akwa Ibom is 90 percent completed.

In a statement on Sunday, the management said the construction is progressing steadily.

“Whilst the refinery is not at 90% completion, we are however on track to meet our delivery timelines in collaboration with our partners,” the group said.

“This BUA Refinery & Petrochemicals project represents a major milestone in strengthening Nigeria’s refining capacity and energy security.

“Our other energy projects, including the construction of a mini-LNG plant and several new hybrid power plants across the country to add additional capacity to our over 1,000MW installed captive power generation capacity, are also progressing rapidly.

“The public is advised to verify any news through our official channels and platforms so as not to be misled by mischievous persons.”

BUA Group also said over $3.5 billion worth of mega industrial projects have been completed within the past decade.

“At BUA, we remain committed to transparency and excellence. As we have consistently done with over 12 of our completed mega industrial projects worth over $3.5 billion in the past 10 years, we will continue to keep you updated with verifiable and accurate information only where necessary, and as milestones are achieved,” the company said.

BUA Group appreciated the public’s interest and enthusiasm for the refinery.