
News
Exposed: NNPCL didn’t remit N500bn revenue in 2024 – W’Bank

This disclosure is contained in the latest World Bank Nigeria Development Update, which highlights concerns over fiscal transparency and revenue management following the deregulation of the downstream petroleum sector.
It said out of the N1.1tn revenue from crude sales and other income in 2024, the NNPCL only remitted N600bn, leaving a deficit of N500bn unaccounted for.
The biannual report, titled “Building Momentum for Inclusive Growth,” said the national oil company used the remaining amount to settle its debt arrears.
In 2023, President Bola Tinubu received commendation from international financial agencies after he announced the removal of controversial petrol subsidies, a move that tripled petrol prices overnight but was projected to save the government billions of dollars annually.
The decision, part of broader economic reforms, was expected to free up funds for critical infrastructure and social programs.
But the plan was scuttled after backlash from Nigerians, as prices of household commodities more than tripled. The government only allowed full deregulation in October 2024, after the commencement of the Dangote refinery.
Despite the official removal, the World Bank report revealed that the NNPCL delayed the transfer of the associated revenue windfall, only commencing remittances to the Federation Account three months later, in January 2025.
It said the national oil firm has since been remitting just half of the proceeds, with the remainder reportedly used to offset legacy arrears.
The World Bank noted that the Federal Government’s revenues for 2025 are anticipated to be 70 per cent from oil and 30 per cent from non-oil sources, assuming full remittance of the fiscal savings from PMS subsidy removal.
“The fiscal outlook remains cautiously optimistic but hinges on the necessary consolidation of recent advances. First, it is essential to ensure that the full revenue gains from the removal of the PMS subsidy—estimated at 2.6 per cent of GDP in 2024—are transferred to the Federation.
“Despite the subsidy being fully removed in October 2024, NNPCL started transferring the revenue gains to the Federation only in January 2025. Since then, it has been remitting only 50 per cent of these gains, using the rest to offset past arrears,” the World Bank stated.
A further breakdown showed that NNPCL was the only laggard, remitting just N0.6tn to FAAC in 2024, down from N1.1tn in 2023.
The World Bank attributed this drop to the implicit subsidy regime that persisted until the third quarter of 2024.
It explained, “Gross FAAC revenues surged in 2024, but a large share was deducted and remitted back as revenues to states and local governments.
“Gross revenues collected by Nigeria’s main revenue agencies surged in 2024, despite minimal remittances from NNPCL. FAAC data show that gross revenues collected by the main revenue agencies (FIRS, NCS, NNPCL, and NUPRC) rose significantly from N16.5tn (7 per cent of GDP) in 2023 to N29.5tn (10.6 per cent of GDP) in 2024.
“The largest revenue increases came from FX-denominated sources that benefited from the removal of the FX subsidy, including oil revenues (royalties, taxes, signature bonuses), customs revenues, and the foreign trade-related component of VAT.”
While other FX-denominated revenue sources, such as oil royalties, taxes, and customs duties, recorded significant increases, the report noted that NNPCL remained the major laggard in remitting revenues to the Federation Account Allocation Committee.
“However, NNPCL was the only laggard, remitting just N0.6tn to FAAC in 2024, down from N1.1tn in 2023, largely due to the implicit PMS subsidy, which remained in place until the end of September 2024. Although the subsidy was fully removed on October 1, 2024, NNPCL did not start transferring the resulting revenue gains to the Federation until January 2025. From that point, it began remitting 50 per cent, with the other half being used to settle past arrears.
“As of February 2025, the bank noted that NNPCL’s claimed arrears stood at N7.8tn, while the Federation’s claims totalled N6.1tn, leaving net arrears of N1.7tn still owed to the national oil company.
“In spite of a sharp rise in gross revenues by the country’s main revenue-generating agencies from N16.5tn in 2023 to N29.5tn in 2024, NNPCL’s remittance fell to N600bn in 2024, down from N1.1tn in the previous year.”
To enhance fiscal discipline, the World Bank recommended a forensic audit of NNPCL’s finances and the adoption of standardised reporting templates to FAAC.
It also called for improved transparency in oil revenue accounting and stronger public financial management systems.
The Bretton Woods institution warned that unless full subsidy gains are channelled into the Federation Account, Nigeria’s fiscal consolidation efforts may be undermined, limiting the government’s ability to invest in infrastructure and social development.
The report stressed that resolving net arrears and ensuring full remittance of subsidy savings are critical for maintaining fiscal stability.
It stated, “The fiscal outlook remains cautiously optimistic but hinges on the necessary consolidation of recent advances.”
“It is essential to ensure that the full revenue gains from the removal of the PMS subsidy—estimated at 2.6 per cent of GDP in 2024—are transferred to the Federation.”
“Resolving any remaining net arrears and channelling the full benefits of subsidy reform to the Federation is critical for sound fiscal management.
“Improve public finance management. Revenues are still low, constraining development spending. Ensure that revenue gains from the removal of the PMS subsidy flow to the Federation.
“The bank also advised to improve transparency in accounting for oil revenues by conducting a forensic audit of NNPCL, and adopting standardised reporting to FAAC.”
Source; PUNCH
News
2027 Elections: 146 Presidential, Governorship Candidates to Spend Not More Than N571bn on Campaigns

No fewer than 146 candidates currently in the race for the 2027 presidential and governorship elections could collectively spend up to N571bn under the campaign expenditure limits prescribed by the Electoral Act 2026.
The figure comprises 19 presidential candidates, each with a campaign spending ceiling of N10bn, and 127 governorship candidates, each allowed to spend a maximum of N3bn under Section 92 of the new Electoral Act.
The 19 presidential candidates alone have a combined spending ceiling of N190bn, while the 127 governorship candidates could collectively spend up to N381bn.
The combined ceiling for the two categories therefore stands at N571bn, although the amount represents the maximum permissible expenditure and not money guaranteed to, or actually received by the candidates.
The development comes as the Independent National Electoral Commission published the personal particulars and credentials of the 19 presidential candidates and their running mates ahead of the 2027 poll, paving the way for the commencement of the presidential campaign on Wednesday, August 19, 2026.
According to the election tracker NGelections.com, 127 candidates across 28 states will be running for governor in 2027. Of the number, 122 have been nominated, four have declared, and one is still being monitored.
A check on the INEC website showed that the commission had yet to publish the total number of 2027 governorship candidates, with its official 2027 election page stating under the list of candidates that “This will be available soon.”
INEC has confirmed that governorship elections will be held in 28 states in 2027, with Anambra, Bayelsa, Edo, Ekiti, Imo, Kogi, Ondo and Osun excluded because they are on the off-cycle schedule.
The commission had fixed January 16, 2027, for the presidential and National Assembly elections, while the governorship and State House of Assembly elections are scheduled for February 6, 2027.
New spending limits
Section 92 of the Electoral Act 2026 substantially raises the amount candidates are permitted to spend on election campaigns compared with the previous statutory limits.
Under the new law, a presidential candidate may spend up to N10bn, while a governorship candidate is limited to N3bn.
For the National Assembly, the ceiling is N500m for a senatorial candidate and N250m for a House of Representatives candidate.
A candidate seeking election to a State House of Assembly may spend up to N100m, the same ceiling prescribed for an Area Council chairmanship candidate, while the maximum campaign expenditure for an Area Council councillorship election is N10m.
The law also places a ceiling on individual contributions to candidates, providing that no individual donor may contribute more than N500m to a single candidate.
Section 92 further provides sanctions for candidates who knowingly exceed the prescribed limits.
Such a candidate faces a fine equivalent to one per cent of the permitted expenditure limit, or imprisonment for up to 12 months, or both.
The provision makes compliance with the new spending thresholds a statutory obligation rather than a voluntary guideline.
It could not ne confirmed if INEC has successfully prosecuted and secured a conviction against a Nigerian politician specifically for exceeding the statutory election/campaign spending limit.
Also, there is no reported case of a politician or party being prosecuted for exceeding campaign-spending limits.
When asked how INEC would enforce the spending limits, the INEC National Commissioner and Chairman Information/Voter Education Committee, Mohammed Haruna, simply stated, ‘’It’s the Commission’s statutory responsibility to monitor the campaign finance of all political parties.’’ The anti-graft agencies are expected to collaborate with the INEC in monitoring and enforcing the spending limits.
The restriction on individual donations means that while a presidential candidate can spend as much as N10bn, a single donor cannot contribute more than N500m.
Similarly, a governorship candidate’s N3bn spending ceiling is six times the maximum individual donation.
News
BREAKING: Gov Mbah Approves Fresh Appointments, Names 23 New SPAs, SSAs (Full List)

Governor of Enugu State, His Excellency, Dr. Peter Ndubuisi Mbah, has approved fresh appointments in the state.
The new appointees include Special Advisers (SPAs) and Senior Special Assistants (SSAs).
This was announced on Wednesday through a public notice signed by Prof. Chidiebere Onyia, Secretary to the Enugu State Government
Full List Below:
1. Hon. Chukwudi Ezinwa — Special Adviser on Labour Union and Association Matters
2. Hon. Sunday Nnamani (Orlando) — Special Adviser on Special Duties
3. Mr. Williams Chukwu — Special Adviser on Agriculture
4. Prince Afam Agana — Special Adviser on Infrastructure Compliance
5. Humphrey Onyima — Special Adviser on Investment Strategy and Public Relations
6. Hon. Tony Ugwu — Special Adviser on Rural Development
7. Chief Ernest Nweze — Special Adviser on Party Coordination and Mobilisation
8. Hon. Emeka Onunze — Special Adviser on Monitoring and Evaluation
9. Mr. Robinson Odo (mni) — Special Adviser on Labour and Productivity
10. Pastor Kenneth Asogwa (Ebube Muonso) — Senior Special Assistant on Heritage and Community Relations
11. Pastor Tochukwu Ogbodo — Senior Special Assistant on Social Engagement
12. Barr. Lucky Chukwu — Senior Special Assistant on Public Affairs
13. Belonwu Nnaji — Senior Special Assistant on Cultural Orientation
14. Hon. Steve Odo — Senior Special Assistant on Tourism
15. Hon. Francis Ikewette Ede — Senior Special Assistant on Public Communication
16. Mr. Sunny Okafor — Senior Special Assistant on General Duties
17. Hon. Chinedu Okwu Otaka — Senior Special Assistant on Social Orientation and Mobilisation
18. Otaba Cosmas Ikechukwu — Senior Special Assistant on Protection of Public Utilities
19. Pius Okeagu — Senior Special Assistant on Assets Management
20. Rt. Hon. Innocent Emeka Ugwu — Senior Special Assistant on Inter-Party Affairs
21. Mrs. Eucharia Offor — Senior Special Assistant on Human Resource Management
22. Mr. Kenneth Oforma — Senior Special Assistant on Policy and Communication
23. Kelvin Ede — Senior Special Assistant on Research and Strategy
The appointments take effect immediately.
News
From Reflection to Rebirth: Honouring Dr. Samuel Ogbuku at 51

Dr. Samuel Ogbuku climbs another rung on the golden-floor ladder of life on August 19, 2026, marking 51 years of a life defined by purpose, resilience, and an unwavering commitment to the Niger Delta region.
Born in Ayakoro, Ogbia Local Government Area of Bayelsa State, his journey from the creeks and crowded neighbourhoods of the region to the helm of the Niger Delta Development Commission (NDDC) is more than a personal story. It is a living expression of what he has described as “Rewind to Rebirth”: the deliberate act of learning from the past to rebuild a stronger, more hopeful future.
Dr Ogbuku’s early years were shaped by the realities of the Niger Delta. He attended public schools in Port Harcourt before earning a Bachelor’s degree in Political and Administrative Studies from the University of Port Harcourt. Further studies led to a Master’s and a Ph.D. in Development Studies.
Alongside academic excellence, he cut his teeth as a student activist and later served as Public Relations Officer of the Ijaw Youth Council (Central Zone). Those formative experiences instilled in him a deep understanding of the region’s struggles and a firm belief that dialogue, education, and opportunity remain the most effective paths to lasting peace. His career has been a steady progression of service. He worked as a Personal Assistant in the Ministry of Petroleum, served as Chief of Staff in the Bayelsa State Government House, managed agricultural enterprises, and later acted as Senior Special Assistant on Niger Delta Affairs.
In 2023, President Bola Ahmed Tinubu appointed him Managing Director and Chief Executive Officer of the NDDC. He inherited an agency long criticised for inefficiency and uncompleted projects. Under his leadership, the Commission has shifted from what he terms a “transactional” approach to a “transformational” one.
The results are visible across the region. Thousands of kilometres of roads have been constructed or rehabilitated. Bridges and jetties have improved connectivity. Health centres have been built and equipped, while free healthcare outreaches have brought medical services to thousands.
The “Light Up the Niger Delta” initiative has extended electricity to communities long left in darkness. Scholarships have opened doors for young people, with many achieving distinction both at home and abroad. These interventions reflect a consistent philosophy: development must be felt by ordinary people in their daily lives.
At the heart of this work lies the “Rewind to Rebirth” agenda, articulated in his writings, including Rethinking the Niger Delta. It is a call to examine past mistakes honestly, discard what has not worked, and rebuild institutions, infrastructure, and trust with clearer purpose.
For Dr. Ogbuku, turning 51 is not merely a personal milestone. It is another opportunity to reaffirm that the Niger Delta’s future can be brighter than its past if leadership remains focused on results, accountability, and the people.As communities, colleagues, and well-wishers celebrate this birthday, the most fitting tribute is continued support for the unfinished work of regional transformation. Dr. Samuel Ogbuku’s 51 years remind us that purpose, when rooted in service, has the power to rewrite the story of an entire region one project, one community, and one generation at a time.
Happy Birthday, Dr. Samuel Ogbuku.
The Mission Continues!!!
Jim George Willy Ibimina
Writes from Niger Delta.
News
Transformative Path Born in Ayakoro, Built for Impact: The Leadership Legacy of Dr. Samuel Ogbuku

In the quiet riverine community of Ayakoro in Ogbia Local Government Area of Bayelsa State, a dynamic leader was born on August 19, 1975, who would one day help reshape the fortunes of the entire Niger Delta. That Leader is Dr. Samuel Ogbuku. Today, as Managing Director and Chief Executive Officer of the Niger Delta Development Commission (NDDC) and Paramount Ruler of Ayakoro Kingdom (Daufa VI), his journey from the creeks of Bayelsa to the centre of regional development stands as one of the most compelling stories of service and impact in contemporary Nigeria.
Roots in Ayakoro
Dr. Ogbuku’s early years were shaped by the realities of the Niger Delta region: its beauty, its struggles, and its unfulfilled promises. Though he spent much of his childhood in Port Harcourt, regular visits home to Ayakoro left a lasting impression. The underdevelopment he witnessed in his ancestral community planted a quiet determination: if opportunity ever came, he would use it to change the lives of his people.
He began his formal education at Christ the King School, Oromenike, Port Harcourt, obtaining his First School Leaving Certificate in 1987. He proceeded to Government Secondary School, Borokiri, before gaining admission into the University of Port Harcourt. There he earned a Bachelor of Science degree in Political and Administrative Studies in 2000. He later obtained a Postgraduate Diploma in Sociology, Industrial Relations and Personnel Management, a Master’s degree, and finally a Doctor of Philosophy in Political and Administrative Studies and Development Studies in 2021. Education, for him, was never merely personal advancement; it was preparation for service.
From Activism to Administration
As a young man, Ogbuku was deeply involved in the Niger Delta struggle. He served as Public Relations Officer of the Ijaw Youth Council (Central Zone) and cut his teeth in student activism. Those early years taught him the language of agitation, but also the limits of confrontation. He gradually moved into structured public service.
Between 2005 and 2007 he worked as Personal Assistant to the Special Assistant to the Minister of State for Petroleum. From 2007 to 2012 he served as Chief of Staff at the Bayelsa State Government House, at the time one of the youngest people to hold that position in Nigeria. He later managed Fulfilled Farms Nigeria Limited, deepening his interest in agriculture and aquaculture, before serving as Senior Special Assistant on Niger Delta Affairs to the Deputy President of the Senate. These roles gave him practical experience in governance, crisis management, personnel administration, and the complex politics of the oil-producing region.
He had the rare privilege of being appointed twice as MD/CEO of the NDDC by two Nigerian Presidents; first by President Muhammadu Buhari in November 2022, and again by President Bola Ahmed Tinubu in August 2023 for a fresh four-year tenure.
Ogbuku arrived at the NDDC with both institutional knowledge and lived experience of the challenges he was expected to solve.
Transforming the NDDC
The NDDC Ogbuku inherited carried a heavy burden of unfinished projects, public scepticism, and institutional turbulence. He responded with a clear philosophy: move the Commission from “transaction to transformation.” The focus shifted decisively toward completing legacy projects, improving transparency, and delivering visible results.
Under his leadership, the Commission has made measurable progress in infrastructure. Thousands of kilometres of roads have been constructed or rehabilitated, dozens of bridges and jetties completed, and major connecting projects such as the Ogbia-Nembe Road, the Ibeno Bridge, and the Kaa-Ataba Bridge advanced or delivered. Electrification initiatives, including the “Lighting Up the Niger Delta” programme, have brought power to communities that had lived for years in darkness.
In healthcare, the NDDC constructed and equipped numerous health centres and revived free medical outreach programmes that have provided tens of thousands of patients with care, including thousands of surgeries. Education and youth empowerment received renewed attention through expanded scholarship schemes, school rehabilitation, and skills programmes designed to give young people alternatives to restiveness.
King Ogbuku has also emphasised institutional reform, working with professional partners to strengthen governance systems and prioritise accountability. His administration secured significant budgetary support and focused resources on completing abandoned projects rather than endlessly initiating new ones.
Returning Home as Traditional Ruler
In June 2026, Dr. Ogbuku was installed as Paramount Ruler of Ayakoro Kingdom with the title Daufa VI, succeeding the late monarch after serving as Deputy Paramount Ruler. The dual role technocrat by day and traditional father by night reflects the depth of his connection to his roots. He has pledged to lead with humility, promote peace and unity, and work with stakeholders for the sustained progress of Ayakoro and the wider region.
A Living Legacy
Dr. Samuel Ogbuku’s story is still being written. At just over fifty, he continues to occupy one of the most demanding development positions in Nigeria while simultaneously carrying traditional responsibilities in his hometown. What distinguishes his trajectory is consistency of purpose: a young man from Ayakoro who never lost sight of the community that raised him, and who has used every platform activism, government, private enterprise, and now the NDDC to push for tangible change.
Conclusion
Dr. Samuel Ogbuku’s journey from Ayakoro to the leadership of the NDDC shows that true impact begins with a deep love for one’s people. Through hard work, focus, and a clear vision, he continues to turn challenges into progress for the Niger Delta. His legacy is still growing, but the difference he is making is already being felt in communities across the region.
From the mangrove creeks of Bayelsa to the boardrooms of regional development, his path illustrates a simple but powerful idea: impact is possible when knowledge, experience, and genuine attachment to place are combined with the courage to confront difficult institutions. In the Niger Delta, that combination is already producing results that communities can see and feel.
Martins Ibigomie Ogolo
Public Affairs Analyst
martins.ogolo@yahoo.com
News
Hon. Atu Flags-Off Completion of Ndafufa-Ugwuaji–Obeagu Link Road Meant To Further Open Enugu

The member representing Enugu North and South Federal Constituency, Hon. Chimaobi Sam Atu, has flagged-off the completion of the 1.3-kilometre Ndafufa-Ugwuaji–Obeagu Link Road to further open up Enugu metropolis.
The project is part of a phased intervention aimed at improving road connectivity and opening up communities within the constituency.
The first phase covered the Ayo Open Space–Ndafufa Ugwuaji, while this second phase will cover Ndafufa Ugwuaji – Obeagu link road. The third phase is expected to extend to the Obeagu–Obinagu–Obeagu Amechi link road.
Speaking at the flag-off ceremony on Tuesday, Hon. Atu emphasised the critical role of road infrastructure in driving economic growth, enhancing connectivity and improving the quality of life of residents.
He explained that the third phase of the project would capture adjoining communities, including Obinagu and Amechi, further expanding the network of accessible roads across the area.
According to him, it is another milestone in the drive towards infrastructure development in Enugu North and South Federal Constituency.
Responding, the President-General of the Obeagu Ugwuaji Town Union, Chief Freedom Obi, expressed the community’s excitement over the project, describing the intervention as significant to the development of the area.
Obi also commended Atu for the quality of work executed during the first phase.
Speaking on the technical specifications and timeline of the project, Engr. Ikechukwu Okorie of Ideas Construction Limited, assured that the earthworks and double-drainage system would be completed before November 2026.
Okorie, who is the engineer in-charge of the project, said: “The road is designed with a standard width of 7.5 metres (in-to-in).
“It will have a dual-drainage system to facilitate effective water flow, protect the road and enhance its durability.”
The completion of the project is expected to strengthen connectivity between Ugwuaji, Obeagu and neighbouring communities, while facilitating the movement of people, goods and services and stimulating economic activities within the area.
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