POLITICS
N1.5 trn Recovery from Oil Companies, another Proof of Buhari’s Doggedness-BMO
The N1.5 trillion recently recovered from oil and gas companies operating in Nigeria is part of the mess left by the Peoples Democratic Party (PDP) which President Muhammadu Buhari has been clearing in all sectors of the economy.
Making this assertion, the Buhari Media Organisation (BMO) said in a statement signed by its Chairman Niyi Akinsiju and Secretary Cassidy Madueke, that the amount was part of tax and fees identified by the Nigeria Extractive Industries Transparency Initiatives (NEITI) in a 2019 report on a N2.
6trillion debt owed by 77 companies.“The revelation by the NEITI Executive Secretary, Dr Ogbonnaya Orji is yet another demonstration of political will by the Buhari administration to correct past ills in the extractive industries in general and the oil sector in particular.
“While negligence on the part of government officials could not be overlooked, we are convinced that corruption and collusion with officials of the then ruling PDP must have emboldened the defaulting firms.
“For the avoidance of doubt, NEITI is an agency in the Presidency created in 2007 in line with global best practices, but on President Buhari’s watch, it became a proper watchdog in conformity with the EITI mission of promoting open and transparent management of oil, gas and mineral resources.
“The recoveries, according to NEITI, include all taxes and VAT being collected by the Federal Inland Revenue Service (FIRS) and all royalties being collected by the Nigeria Upstream Petroleum Regulatory Commission (NUPRC).
“It was gratifying that while FIRS had earlier recovered 810million dollars, NURPC got 1.416billion dollars amounting to 2.226billion dollars (N900billion). NEITI explained that by working with a National Assembly review committee, it was able to push the debtors to pay more which then translated to FIRS getting an additional 662.9million dollars while the NUPRC got 913.5million dollars totalling 1.576billion dollars(N600billion).
“So now that N1.5trillion has been recovered, the agency said what remains from outstanding taxes and fees from the oil companies is N1.07trillion and promised to provide further updates in the 2021 report to be released this year, ” the group added.
BMO said that it was not the first time NEITI, and by extension, the Buhari administration was living up to expectations in the sector in the last seven years.
“Can anyone forget the role the agency played in the period leading to the passage of the Deep Offshore and Inland Basin Production Sharing Contracts (Amendment) Bill 2019, otherwise known as the ‘PSC Amendment Bill’, which reversed decades of cheating that the country had been subjected to.
“To underline its importance, the Presidency issued a statement on the day the bill was signed into law which read in part: ‘For the first time under our amended law, 200 million Nigerians will start to receive a fair return on the surfeit of resources of our lands. Increased income will allow for new hospitals, schools, infrastructure and jobs. Today marks a new and beneficial relationship with our oil company partners: one that benefits all
“And then there’s the Petroleum Industry Act (PIA), which PDP had for close to 20 years shown little or no interest in pushing through, but is now a reality under Buhari’s watch”.
The group added that the Buhari administration will ensure that never again will the country be denied what is due it from the extractive industries.(NAN)
POLITICS
Tinubu Signs 2025 Budget Amendment Bill
By David Torough, Abuja
President Bola Tinubu has signed the Appropriation (Amendment) (No. 4) Bill, 2025, extending the implementation period of the 2025 budget from September 30, 2026, to December 31, 2026.
The amendment was passed by the Senate and the House of Representatives on Tuesday, September 29, 2026, before being transmitted to the President for assent.
According to a statement issued on Wednesday by Bayo Onanuga, Special Adviser to the President on Information and Strategy, the extension will give Ministries, Departments and Agencies (MDAs) additional time to complete ongoing capital projects.
The statement said the move would ensure that funds already appropriated are fully utilised without disrupting critical government programmes.
“The extension gives Ministries, Departments and Agencies more time to complete ongoing capital projects,” the statement said.
“It ensures that funds already appropriated are fully put to work for Nigerians, without disrupting critical programmes.”
Tinubu also commended the leadership and members of the National Assembly for what the statement described as the prompt consideration of the amendment.
The president said the development demonstrated continued cooperation between the Executive and Legislative arms of government in the interest of the country.
The amendment therefore allows the Federal Government to continue implementing the 2025 budget until December 31, 2026, instead of the earlier September 30 deadline.
POLITICS
Tinubu Submits NDDC 2026 Appropriation Bill
President Bola Tinubu has submitted the 2026 Statutory Budget Proposal of the Niger Delta Development Commission (NDDC) to the House of Representatives for consideration and passage.
This is contained in a letter dated Aug.
20, 2026, addressed to the Speaker of the House of Representatives, Rep. Abbas Tajudeen and read by the Deputy Speaker, Rep. Benjamin Kalu at plenary on Tuesday in Abuja.In the letter, Tinubu said that the budget was prepared by the Minister of Niger Delta Development in line with the provisions of Section 121 of the 1999 Constitution.
According to him, the proposal was based on the NDDC’s revenue and expenditure forecasts and it aligned with the fiscal and developmental policies of the Federal Government and the Renewed Hope Agenda.
He said that the proposal also took into consideration the 2024–2026 Economic Recovery Growth Plan as well as key assumptions of the 2026 Appropriation Act of the Federal Government.
The President said the NDDC had prioritised programmes aimed at improving youth empowerment, energy and power supply, education, industrial and enterprise development, health and security.
He also listed increased agricultural productivity among the commission’s priorities, saying the interventions were intended to lift a significant number of citizens out of poverty.
Tinubu urged the House to give the proposal consideration and ensure its timely passage.
“I look forward to the timely passage of the 2026 Statutory Budget Proposal of the NDDC by the House of Representatives,” he said. (NAN)
POLITICS
Akume Tasks MDAs on Concrete Actions to Strengthen Transparency, Public Trust
By David Torough, Abuja
The Secretary to the Government of the Federation, Sen. George Akume, has charged Ministries, Departments and Agencies (MDAs) to translate the findings of the 2026 Transparency and Integrity Index (TII) into concrete improvements in their operations in order to strengthen accountability and public trust.
He gave the charge while delivering the keynote address at the presentation of the 2026 Transparency and Integrity Index held at the Auditorium of the Federal Ministry of Finance, Abuja.
The SGF said the administration of President Bola Tinubu, remains committed to open, accountable and responsible governance, stressing that public institutions must ensure that their policies, programmes and actions are transparent, visible and understandable to Nigerians.
According to him, the Index has become a vital instrument for assessing accountability, openness and ethical standards across government institutions, while providing MDAs with clear benchmarks to identify areas of strength and gaps requiring improvement.
He urged heads of MDAs to integrate the findings and indicators of the Index into strategic planning, performance management, budget priorities, procurement processes, staff training and digital disclosure rather than allow the report to become another document left unused.
“The report should not sit on the shelf and should inform management decisions, budget priorities, procurement processes, staff training, digital disclosure, and how you communicate with the public,” he said.
Akume emphasised that transparency should be viewed as an institutional asset rather than an administrative burden, noting that integrity must be embedded in the procedures and culture of public institutions through clear policies, proper record-keeping, effective oversight, ethical leadership and consequences for wrongdoing.
He further tasked MDAs to take advantage of technology by ensuring that their websites and data portals provide accurate, timely and user-friendly information, including current budget, contract and service information, to enable citizens to effectively engage government and track the utilisation of public resources.
The SGF explained that the 2026 TII assesses public institutions in five critical areas comprising fiscal transparency, open procurement and contracting, human resources and inclusion, control of corruption and citizens’ engagement, adding that the initiative complements existing public service reforms, anti-corruption measures and Nigeria’s Open Government Partnership commitments.
He noted that the ultimate objective of transparency and integrity should go beyond institutional rankings to building public institutions that Nigerians can understand, engage with and hold accountable, while safeguarding public resources and improving service delivery.
“The Federal Government remains fully committed to this goal. We will continue building institutions that are transparent, accountable, professional and responsive to the needs of the people,” the SGF said.
Akume commended the Bureau of Public Service Reforms (BPSR) and the Centre for Fiscal Transparency and Public Integrity (CeFTPI) for sustaining the initiative, while calling for stronger collaboration among government, civil society, professional bodies, development partners and the media in strengthening transparency and bringing corruption to its knees.


