“I pray not to die until Nigeria becomes debt free nation –Pastor Oyedepo

Published

3 days ago

February 16, 2025

By Kayode Sanni-Arewa

Bishop David Oyedepo, the founder of Living Faith Church, has prayed to be alive when Nigeria is debt free and becomes a great nation.

Bishop Oyedepo said Nigeria will become great when citizens decide to transform their personal lives.

Addressing his members in Ota, Ogun State, Oyedepo said Nigerians should become the change they crave for.

He said: “The change we want to see, we must be that change first and then we’ll see that change. A great Nigeria is a cheap possibility.

“Let’s begin from the beginning. Let’s begin from ourselves. Let’s be that change. Don’t make yourself a commodity to be bought. Be satisfied with Jesus.

“I love this Nation with passion. I want to be alive to see a brand new Nation.

“I want to be alive to see a nation that is debt free and celebrates righteousness in all areas.”

Source: Daily Post

Related Topics:celebrates church Nigeria Nigerians Ogun

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Reps Committee Probe Non-Remittance of Pension Contributions By FCT Area Councils

Published

4 minutes ago

February 19, 2025

Gloria Ikibah

By Gloria Ikibah

The House of Representatives Copmmittee on the Federal Capital Territory Area Councils and Ancillary Matters has decided to investigate the failure of the six area councils to remit pension contributions to the Area Council Staff Pension Board.

This decision came after a motion was adopted during a session where the Board Director, Suleman Abdulrahman, appeared before the Committee on Wednesday.

The meeting was part of the Committee’s review of budget performance for 2024 in preparation for the 2025 budget cycle. During the session, Abdulrahman informed lawmakers that remittances had been inconsistent.

“By law and according to the pension reform act, each deduction from salaries in respect to pension is supposed to be remitted seven days after payment of salary, but unfortunately at the area councils that’s not what is happening. Sometimes they owe two to three months before remittance.

“The staff pay their employee contribution which is the 8 percent and 10 percent for the employer. It is remitted to their PFA accordingly from the area councils,” he said.

The Chairman of the Committee, Rep. Fred Agbedi demanded that the agency furnish it with the records pertaining to the matter.

“Furnish us with the details so we can know why the area councils are defaulting in their remittance.

“Let someone move a motion for us to investigate the discrepancies and delay in area councils remitting because salaries are paid monthly.

“The Committee should investigate the failure of the remittance from the area councils to the pension account,” Agbedi said.

The Chairman directed the Clerk to write to all six area councils, requesting detailed records of up-to-date pension contribution remittances for their employees.

The Committee also questioned Abdulrahman on why the Board received more funds than were allocated in the 2024 budget.

Documents submitted by the Board indicated that while the total appropriation for pensioner costs was ₦131,148,262, the Board received ₦151,137,417.

In response, Abdulrahman explained that the excess in salary variations was due to increase in the minimum wage.

“The personnel cost of all FCT staff is centralised with the treasury department and you are aware of the recent salary adjustments as a result of minimum wage which increased the total receipt. We are in touch with the treasury department to get us the supplementary approval so that we can update our records.

“Principally what we do is that we superintend over pension matters in all the six area councils and LEA. Payment of monthly pensions and other benefits that accrue to our prospective retirees.

“Our summary of the budget performance for 2024 was we had a total of N1.1 billion which was the ceiling, which consists of the recurrent, the personnel and overheard.

“The personnel cost, we have 115 percent budget performance. The overhead, we have 40 percent performance, we don’t have capital projects. It’s just a service organisation on change of monthly pensions,” he said.

Agbedi said the Committee would embark on budget oversight to all the agencies.

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Reps Probe NNPCL, NUPRC Over Unpaid Federation Account Funds

Published

5 hours ago

February 19, 2025

Gloria Ikibah

By Gloria Ikibah

The House of Representatives Committee on Public Accounts has initiated a probe into unremitted funds owed to the Federation Account by the Nigerian National Petroleum Company Limited (NNPCL) and several oil firms.

The investigation, led by Sub-Committee Chairman, Rep. Akinlade Isiaq, arose from concerns highlighted in the Auditor General’s 2020–2021 reports regarding unsettled financial obligations by NNPC Ltd and other industry players.

Findings from the audit indicate that, as of December 2021, NNPC Ltd and oil companies owed the Federation roughly $1.6 billion in royalties due to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) under various agreements, including the Production Sharing Contract, Repayment Agreement, and Modified Carry Arrangement. Additionally, NNPCL’s outstanding claims against the Federation were estimated at N1.9 trillion.

Responding to these queries, NNPC’s Group Chief Executive Officer, represented by Chief Financial Officer, Dapo Segun, stated that part of the funds had been directed toward government-designated Priority Projects (GPP) and fuel subsidy payments, which remained in effect until its removal in September 2024.

He explained that deductions were sourced from the Federation’s crude oil and gas entitlements, including royalties, and were allocated to projects based on the approved national budget. However, he clarified that no deductions were made for GPP in 2023 and 2024, as implementation was dependent on the passage of the Petroleum Industry Act (PIA).

“Regarding the financial claims between the Federation and NNPC Limited as of December 31, 2024, the reconciliation process is ongoing under the supervision of the Honourable Minister of Finance and Coordinating Minister of the Economy. Once concluded, relevant reports will be made available to all appropriate agencies and stakeholders,” Mr. Segun stated.

Meanwhile, the Sub-Committee has vowed to continue its investigation into 2025, with the aim of determining the current status of the debts as of December 2024 and ensuring the recovery of outstanding funds.

Rep. Isiaq reaffirmed the committee’s dedication to professionalism and transparency, emphasizing the importance of accountability in managing Nigeria’s oil and gas resources.

“This hearing is a vital step in ensuring that our national resources are properly accounted for. We are committed to taking all necessary measures to recover these outstanding debts in the best interest of the Federation and its citizens,” he stated.

The committee has also summoned oil companies identified in the NUPRC report, which shows they owe the Federal Government a total of $929 million as of September 30, 2024.

To address financial discrepancies, key government agencies have been invited to provide clarity on the issue. These include the Accountant General of the Federation, the Central Bank of Nigeria (CBN), the Nigeria Extractive Industries Transparency Initiative (NEITI), the Ministry of Finance, the Revenue Mobilization Allocation and Fiscal Commission (RMAFC), the Bureau of Public Procurement (BPP), and the Federal Inland Revenue Service (FIRS).

Their input is expected to shed light on the legal and procedural factors behind the non-payment of these funds. This investigation aims to establish stronger accountability and financial transparency within Nigeria’s oil and gas sector.

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PDP Mobilises For South-South Congress

Published

7 hours ago

February 19, 2025

Kayode Sanni-Arewa

By Kayode Sanni-Arewa

The outgoing South-South zonal executive of the Peoples Democratic Party, PDP has began the mobilisation of statutory delegates of the party for the election of a new zonal executive of the party.

A statement signed by the acting Zonal Secretary of the party, George Turnah M.O.N and made available to newsmen invited all those qualified to attend the zonal congress as specified in Section 28(1) of the party’s constitution to avail themselves for the congress holding in Calabar, Cross River State.

The statement read in part:
“The Zonal Executive Committee of the People’s Democratic Party (PDP) South-South Zone hereby notifies and invites qualified Party members as contained in the Party constitution 28(1) , to the 2025 elective Congress of the Party scheduled to hold on Saturday, 22nd of February 2025 at The Metropolitan Hotel, Calabar, Cross River State.”

The zonal scribe while noting that the congress is being convened for the election of “new officers to the Zonal Working/Executive Committee and other matters connected thereto” added that the invitation for the congress is at the instance of “Chief Dan Osi Orbih, National Vice Chairman of the People’s Democratic Party South-South Zone, acting under the powers conferred upon him by Article 28(3) of the Party’s Constitution.”