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APC, PDP govs disagree over oil revenue sharing
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The Governor of Bauchi State, Bala Mohammed, has revealed that state governments have yet to benefit from the improved revenue generated by the oil sector, as the remittances are not being properly credited to the Federation Account.
The governor, who also serves as the Chairman of the People Democratic Party Governors forum, urged the Federal Government to provide a clear and detailed explanation to the public as to why the revenues that have been collected are not being properly remitted for distribution and sharing among the three tiers of government as stipulated by the law.
The governor disclosed these when the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, paid a courtesy call at the government house ahead of the 2024 Conference for the National Council on Finance and Economic Development ongoing in the state.
He stressed that it should be considered nothing short of a miraculous work that States are yet to benefit under the current minister despite being one of the biggest oil-producing nations.
The PUNCH reports that NNPCL is a major revenue-generating agency in Nigeria, operating as the national oil company in charge of the management, sales, etc, of the country’s crude oil and gas, among other key functions.
It remits revenue from crude oil sales to government coffers.
But in recent years, the NNPC remitted literally zero funds to the Federation Account due to the payment of subsidy on Premium Motor Spirit.
Checks by our correspondent showed that the national oil firm didn’t add a single naira to the federation account in 2022.
It said fuel subsidy stopped the revenue-generating firm from remitting taxes and royalties to the Federation Account, as well as halted the company from making a profit.
But the former Chief Financial Officer of NNPCL, Umar Ajiya, in a documentary earlier this year, confirmed that the removal of subsidy had made the company start making remittances into the Federation Account.
“We have now begun to pay dividends to the federation. We are also paying our due obligations in terms of taxes and royalties,” he stated.
The company further stated in the documentary that the end to subsidy enabled it to contribute N4.5tn to the Federation Account in nine months.
“For the first time in a long time, NNPC Ltd in 2023 contributed to the Federation Account, accounting for N4.5tn between January and September 2023,” the national oil company stated.
Additional checks also revealed that NNPC contributed N431.06bn of its accrued revenue to the federation account in the first seven months of 2024.
Stakeholders had expected improved disbursement following the removal of fuel subsidy by the current deregulation of the sector, which increased petrol prices by 490 per cent.
But commenting, the governor complained that it’s yet to see any changes.
He said, “It’s a miracle that we are one of the biggest oil-producing nations, but we have not benefited for some time since you came on board.
“You have to explain that this is what you are going through. That is inclusion. And if you don’t say it, nobody will know. But, some of us know. We call this leadership and responsibility.”
“You have to make our oil and gas sector produce. Not only to produce and sell but put it in our Treasury for distribution and sharing.
“You must provide financial services to us at subnational. Financial services that will help us to enhance our productivity, and also use the resources wisely. Because without us, there will be no Federal Government.”
Responding, the ruling All Progressives Congress have slammed governors elected on the platform of the Peoples Democratic Party to prove that they have not benefited from the crude earnings under the current administration of President Bola Tinubu.
In an exclusive interview with The PUNCH, Deputy National Organising Secretary of APC, Nze Chidi Duru, urged the Chairman of the PDP Governors’ Forum and Bauchi State Governor, Senator Bala Mohammed, to always seek clarification before running to the public with unsubstantiated argument.
He said, “Our call at all points in time is that opposing views are welcome in as much as they are constructive towards nation-building, and they are not views expressed only because they want to play to the gallery. If his view is to be taken seriously, it must not be generic and verbose. It must be specific and concrete.
“Senator Mohammed must put down those evidence on the table for further elaboration. It is only at that point that we can then, as a political party, venture to take on the issues in a very objective manner. We have seen clamours of this before now and when you dig further, you will find no substance in it.
“So, by and large, it is welcome, and our call would be that he put the facts. We have always known that proceeds that ought to go into the consolidated revenue account of the country are not things done in an obscure manner. They are things that are done transparently.”
While stating that the APC government is not averse to correction, Duru demanded Mohammed present sufficient evidence to back up his claim, especially now that virtually every Nigerian knows each state earns more allocation under the current administration.
According to him, similar alarms raised in the past had turned out to be mere gaslighting on the part of those who want the Federal Government to look bad before the public.
“It is important again to note that this is the first time in the history of our country that more money has gone into the hands of the various tiers of government at various levels. At the state level and the local government level. So, one would be interested to know what these enormous resources have been deployed at those levels and used in the various states and tiers of government.
“So, the party and the government are not averse to any constructive criticisms or further feedback or data that would help the government to plug in the various loopholes that would bring in money. At the end of the day, these monies are not just meant for the federal government. It is not meant for the APC government or the Tinibu government. These are monies meant for distribution to the states, the local government as well as the federal.
“So, as much as the federal is interested in receiving more money, I would also believe that the states and the local government are also interested in receiving more money. The only way they can make more money or get more money on top of what they are getting is to point out if there are recognisable leakages in the system that need to be blocked.
“If the money that needs to come into the consolidated account is not coming in and is pointed out, the government would make the necessary effort to make sure that those monies are coming into the coffers of the government. This is where I think that the opposition should help headline and spotlight what needs to be done to make the country a much better place than is currently the case,” he stated.
The NNPCL Spokesperson, Femi Soneye, didn’t respond to calls, texts and WhatsApp messages sent to his phone lines to clarify the situation.
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*READ PRESIDENT BOLA TINUBU’S DEMOCRACY DAY SPEECH:*
OUR GENERATION MUST SECURE PROSPERITY
By Bola Tinubu
Today, we celebrate democracy and the enduring Nigerian spirit. For 27 unbroken years, since May 29, 1999, Nigerians have chosen their leaders through the ballot, witnessed peaceful transitions of power, and resolved disagreements in courtrooms and legislative chambers—not through violence. We have experienced the longest stretch of civilian rule in our history. Our democracy is not perfect, but it is ours, and we must continue to defend and strengthen it.
In the coming days, Ekiti and Osun States will hold elections. I urge INEC, security agencies, and all parties to ensure these polls are peaceful and credible. Democracy fails when citizens doubt the process. To our National Assembly, Judiciary, the Press, and Civil Society: you are the guardrails of our republic. Criticise me, disagree with me, but never stop believing in Nigeria.
To our young people: Nigeria is your home and your future. Build here, code here, work here, and vote here. Every great nation was built by those who stayed to solve problems, not by those who abandoned ship.
To our armed forces, police, and intelligence services: Nigeria salutes your sacrifice. To our traditional rulers, faith leaders, and community heads: thank you for your support of peace and reconciliation. The government cannot do it alone.
Today, we honour the resilience of Nigerians who refused to surrender their faith in freedom, and the courage of those who stood firm against intimidation. We pay tribute to patriots who endured persecution, imprisonment, exile, and even death so that future generations could enjoy democracy. I salute labour leaders, journalists, activists, students, women, professionals, political leaders, and soldiers—both those who have passed and those still with us—for their patriotic contributions.
Though this year’s mood is dampened by the abduction of our children in Oyo and Borno, we remain hopeful for their safe return. Democracy without security is not solid enough. That is why this administration declared a security emergency and approved the recruitment of more than 50,000 new police officers and thousands of military recruits. Our 2026 budget commits N5.41 trillion—our largest ever—to defence and security. Our administration is ever ready to do much more to secure our people.
We have moved from training with our allies, the United States, France and other European countries, to precision targeting. In Arege, Borno State, we degraded ISWAP’s command centre. Terror-related deaths are down by 81% since 2015. Over 13,000 terrorists have been neutralised in the past year. But we also keep the door of surrender open. Over 124,000 fighters and dependents have laid down their arms since 2023 through Operation Safe Corridor.
To bandits, kidnappers, and sponsors of terror: Surrender or face the full force of the Nigerian State. These windows of surrender will not remain open forever. No mercy will be shown to those who trade in the blood of Nigerians.
At a time like this, let us not assign blame or point fingers. Crime has no ethnicity. We must stand united and be assured that the enemies of our nation shall soon be history. We will triumph over terror and continue to build a more prosperous nation.
June 12 occupies a sacred place in our national memory. It represents more than an election; it is a defining chapter in our story. We remember Chief M.K.O. Abiola, who won a pan-Nigerian mandate transcending ethnicity and religion. We remember Alhaja Kudirat Abiola.
We also remember Chief Gani Fawehinmi, Chief Bola Ige, Chief Alfred Rewane, Pa Abraham Adesanya, Chief Anthony Enahoro, Alhaji Balarabe Musa, Commodore Dan Suleiman, Dr Beko Ransome-Kuti, Frank Kokori, Arthur Nwankwo, Chima Ubani, Shehu Musa Yar’Adua, and the many other heroes and heroines of democracy whose sacrifices helped secure the freedoms we enjoy today.
As beneficiaries of their struggle, we have a duty to strengthen and deepen the democratic institutions for which they fought. The greatest tribute we can pay is to build a Nigeria where freedom is protected, justice is upheld, opportunity is expanded, and government is accountable.
June 12, 1993, revealed the possibility of a true Nigerian nation. The heroes of June 12 secured political freedom. Our challenge is to secure economic freedom. Democracy must be felt in the quality of people’s lives—in opportunities for youth, in prosperous farmers, successful entrepreneurs, and the dignity of our workers.
The reforms we are undertaking were not chosen for ease, but for necessity. Three years ago, our public finances were under severe strain, investment was discouraged, and economic uncertainty threatened our future. We chose to act, embracing reforms to advance Nigeria’s economic freedom.
Since 2023, our reforms have restored stability and credibility to economic management. Federation revenues have risen, providing states and local governments with more resources for infrastructure, education, healthcare, and security. Fiscal transparency has improved, leakage has been reduced, and public funds are better directed to national priorities. Investor confidence has returned, with investments in agriculture, energy, manufacturing, technology, mining, transportation, and the creative industries growing.
Domestic refining capacity has increased, strengthening energy security and reducing our reliance on imported petroleum products.
By 2023, when we came on board, the electricity sector was characterised by chronic generation shortfalls, an unreliable gas supply, and transmission infrastructure so fragile that it could not evacuate available power. Distribution companies were burdened by massive losses and a metering deficit of over four million. Worst of all, the value chain was drowning in legacy debt. The result was a sector that generated less than the 13,500 Megawatts installed capacity, a sector that transmitted less than it generated, distributed less than it transmitted and collected revenue far below what it needed to sustain itself.
To address the problems besetting the sector, I signed the Electricity Act, which grants states authority to generate, transmit, and distribute power. The Presidential Power Sector Task Force is working hard to reduce the metering deficit. It has also been authorised to raise N4 trillion bond to settle verified legacy debts. The Rural Electrification Agency, supported by the World Bank and the African Development Bank, has deployed off-grid and mini-grid power to underserved communities, universities, markets, and hospitals. Electricity is a democratic dividend we owe every Nigerian. We intend to deliver it.
Across the country, infrastructure projects are connecting producers to markets and creating opportunities for enterprise and employment. The National Agricultural Development Fund is deploying 10,000 tractors over five years. Over 1,000 SMEs have been certified for export. Non-oil exports grew by 21% last year.
Yet, many Nigerians still face economic hardship. We remain focused on reducing inflation, expanding food production, creating jobs, improving living standards, rebuilding confidence in our economy, and creating conditions for sustainable prosperity.
We are moving from uncertainty to stability. The next phase is about accelerating growth and ensuring the benefits are felt in every home, every community, and every region. We believe that Democracy must be felt in the pocket.
Recognising that democracy is undermined when people do not feel its impact, my administration has sought financial autonomy for our 774 local councils. A fundamental challenge to our nation’s advancement has been ineffective local government administration. The insecurity we are addressing is partly due to the collapse of grassroots governance. The Renewed Hope Agenda is about ensuring that all Nigerians benefit from governance.
Every generation has a defining responsibility. The generation of our founding fathers secured independence—the generation of June 12 secured democracy. Our generation must secure prosperity.
Let us move forward together—rejecting division, cynicism, and despair; embracing unity, hope, and confidence. Let us build a Nigeria united by a common purpose, strengthened by diversity, where justice is accessible, liberty is secure, and opportunity is abundant.
Among the architects of modern democratic Nigeria, we honour General Shehu Musa Yar’Adua for his vision of national partnership. In recognition of his contributions, the Federal Government has approved the revitalisation and renaming of the completed Institute of Petroleum Studies, Kaduna, as the General Shehu Musa Yar’Adua University of Geological Sciences and Engineering Technology.
I am also pleased to announce national awards to the following Nigerians, who suffered persecution, endured indignities, exile, incarceration, and, at times, solitary confinement, so that we have democracy today.
Barrister Ayoka Lawani
Tunde Fagbenle
Oladele Alake
Olatunji Bello
Louis Odion
Segun Babatope
Sam Omatseye
Sir Ademola Osinubi
Bola Bolawole
Lade Bonuola
Femi Kusa
Debo Adeniran
Chief Ayo Opadokun
Chief Ralph Obiora
Ose Osayande
Barrister Osa Director
Prof. Sylvester Odion-Akhaine
Dr Arthur Nwankwo (Posthumous)
Dr Osagie Obayuwana
Dr Joe Okei-Odumakin
Barrister Titus Mann
Joe Igbokwe
Richard Akinnola
Ben Charles-Obi (Posthumous)
George Mbah
Dr Niran Malaolu
Major-General Ishola Williams (rtd)
Femi Aborisade
Jenkins Alumona
Gbemiga Ogunleye
Muyiwa Adekeye
Babajide Kolade-Otitoju
Ike Okonta
We also recognise the soldier-democrats of the June 12 struggle:
Major General MA Garba
Brigadier General Lawal Jaafaru Isa
Col Umar Farouk Ahmed;
Col Sambo Dasuki;
Col Lawan Gwadabe;
Brigadier Jonathan Ndam Temlong
Col Musa Shehu;
Major General Chris Eze;
Major General Harris Dzarma;
Col Isa Jibrin;
Maj. General Joseph Oshanupin;
Col Olusegun Oloruntoba, Olugbede of Gbede Kingdom)
Lieutenant Colonel Happy Kefas Bulus
Col J Okai;
Col Emmanuel Ndubueze;
Lt Col Yakubu Muazu
Brigadier Yahaya Abubakar, the Current Etsu Nupe, who is already the holder of the CFR title.
The honours list will be released in the next few days.
Fellow Nigerians, 27 years ago, many doubted democracy would survive here because of our diversity. Today, our diversity sustains our democracy. The road ahead is steep. But June 12 reminds us: Nigerians do not break. We bend, we bleed, but we do not break.
Let us renew our covenant: That the labours of our heroes past shall never be in vain, and that government of the people, by the people, for the people, shall not perish from this land.
May God bless the heroes of our democracy. May God bless the Federal Republic of Nigeria. May God continue to bless us all.
*Happy Democracy Day.*
News
*Let’s repeat the 1993 credible election in 2027 — Peter Obi demands on June 12
By Kayode Sanni-Arewa
Nigeria Democratic Congress (NDC), Presidential Candidate for the 2027 election, Peter Obi, has admonished Nigerians to let the June 12 they celebrate today be a critical assessment of the nation’s political landscape.
The 2023 Labour Party Presidential Candidate also wants a repeat of the 1993 credible election in 2027.
Writing on his X handle this morning, Obi said, “Today, we are observing a day that should mean a lot to us as a people who cherish democratic principles. Every year on June 12, the conversation inevitably turns to a critical assessment of the state of the nation. It serves as an annual baseline for asking: Are our current elections as transparent as they were in 1993? Is the social contract being honoured? Are the institutions of governance truly serving the people?
Ultimately, June 12 is a powerful blend of reflection and aspiration. It honours a fractured past while serving as a constant, foundational reminder of the immense power inherent in the collective democratic will of the Nigerian people.
For us in Nigeria, June 12 is not merely a date on the calendar; it is the emotional and structural bedrock of the modern democratic identity. Officially recognised as Democracy Day, June 12 carries deep historical, political, and social weight, representing both a monumental tragedy and the ultimate triumph of the collective citizen will.
To understand what June 12 means to Nigeria, one must look at its history, its evolution, and its ongoing symbolism. A New Nigeria of true democracy is possible.
News
DEMOCRACY DAY: READ special message by Hon TeeJay Yusuf to Nigerian youths
By Kayode Sanni-Arewa
On this occasion of Democracy Day 2026, I reflect with deep humility on a journey that many of us walked with courage, conviction, and sacrifice.
As a student leader in the early 1990s, serving first as Welfare Secretary of the University of Jos Student Union Government and later as Secretary-General of the National Association of Nigerian Students, I had a close view of what it meant to struggle for democratic governance in Nigeria. Those were difficult and defining years.
We were driven not by comfort, but by conviction. We believed that democracy was not a privilege to be negotiated, but a right to be demanded. In that pursuit, many of us paid a heavy price. We were beaten, detained, harassed, and faced with intimidation and frivolous charges. Yet, despite the risks and the pain, we remained committed to the idea of a freer and more just Nigeria.
Those experiences were part of a broader national struggle that shaped the democratic transition our country eventually achieved in 1999, following years of political tension, civic resistance, and events such as the June 12 crisis that tested the conscience of the nation.
Today, as we celebrate democracy in 2026, I do so with gratitude for how far we have come, and with a sober reminder that democracy is never finished—it must be protected, deepened, and renewed by every generation.
Yet I cannot hide my concern that we risk losing some of the guiding principles we once fought for so fiercely—discipline in leadership, accountability in public office, and a culture that rewards merit over mediocrity. The democracy we fought for was never meant to be only about elections, but about excellence, accountability, and service.
Those of us who were part of that era, and others who shared similar experiences, should also feel free to contribute their reflections and experiences in the comments, so that the memory and lessons of that struggle are not lost.
To the young people of today: the responsibility has not ended. It has simply changed hands.
Happy Democracy Day, Nigeria.
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