A Review of the Nigerian Energy Industry

Buhari orders NNPC, FIRS, others to close illegal revenue accounts

30 June 2015, Abuja – President Muhammadu Buhari on Monday, again, ordered all federal government’s revenue generating agencies to remit all monies in their custody, from time-to-time, into the consolidated revenue fund.
The agencies include the NNPC, FIRS, NPA, NIMASA, NLNG, NCS, CBN, among others.

NNPC Towers
NNPC Towers
Buhari gave the order during the inauguration of the National Council of State at the Council Chambers, Presidential Villa, Abuja.
He assured members of the Council, made up of state governors and under the chairmanship of the Vice-President, Prof. Yemi Osinbajo, that: “On its part the Federal Government will abide by the provisions of Sections 80 and 162 of the Constitution and ensure more accountability, transparency and integrity in the Distribution of the Federation Account.

“All Revenue Generating Agencies such as Nigeria National Petroleum Corporation (NNPC), Nigeria Customs Services (NCS), Federal Inland Revenue Services (FIRS), Nigeria Ports Authority (NPA), Central Bank of Nigeria (CBN), Nigeria Maritime Administration and Safety Agency (NIMASA) and Liquefied Natural Gas (LNG) amongst others shall comply with stipulated Financial Regulations and Administrative Instructions in their remittances into the Consolidated Revenue Fund.”

He called on the governors to put politics aside and focus on areas of collaboration that could bring about the needed change in the society.

” I would like also, as a former Governor myself to remind us the need for neighbouring states to cooperate closely on projects such as interstate and feeder roads, soil erosion, desertification and other developmental programmes. Our country is one and we who have the responsibility to run it lead by example. As far as is possible there should be distance between politics and development programmes.”

On the state of security in the country, the President said: “On insurgency, the Nigerian Armed Forces have shown renewed commitment and made steady progress in the fight against Boko Haram. “Nigeria, under the auspices of the Lake Chad Basin Commission and the Republic of Benin is collaborating with the Republics of Niger, Chad, Cameroun and Benin to consolidate cross-border and international efforts at eradicating the insurgency.

“I am also happy to reiterate that following my invitation to Germany early this month by the G7 Nations who have shown concern about the Insurgency and promised to intervene to restore the destroyed infrastructure, schools and hospitals amongst others, I have directed the front line states of Borno, Yobe and Adamawa to articulate realistic assessments, costs, locations on Local Government by-Local-Government of affected facilities for submission to the President of the G7 for further verification. In addition, the requirements of the Military have been prepared by the Service Chiefs for the consideration of the G7 Nations.”

He therefore pleaded with the governors to be alive with their responsibilities to pull the country out of its present economic challenges.

“Your Excellencies, it is evident that the task of ensuring growth, job creation and equity, is quite enormous. Consequently, we must kick-start this process by cultivating a culture of prudent management of resources at all levels of Government.

“This will entail looking inwards to secure sustainable ways of increasing Internally Generated Revenue (IGR); and harnessing growth potentials of each State to supplement the Federation Account allocation to States. The States are also encouraged to embark on projects that will meet immediate needs of the people taking account of available resources.

” I therefore urge Council members to consider, as a matter of urgency, exploring efficient means of gradually liquidating all unpaid salaries of staff, which have brought untold hardship to thousands of families.

“Let me reiterate the high expectations of the NEC as a veritable source of articulating policies and programmes that are people centred and capable of driving further, the expected growth and development of the country as well as providing environment required for progress.”

– MetroWatch

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