Abuja — The National Economic Council, NEC, has suspended the planned removal of petrol subsidy by the Federal Government as…
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*Proposes N385 new petrol price *NEC to review price today *FAAC to gain between N1.3 trillion-N2. 2.3 trillion/annum OpeOluwani Akintayo…
OpeOluwani Akintayo 30 June 2018, Sweetcrude, Lagos — The National Economic Council, NEC, has approved the annual report and accounts of…
Dankwambo, who chaired NEC ad hoc committee on remittances, said the infractions were identified by KPMG that was contracted to carry out a forensic audit of revenue remittances to the Federation Accounts.
“The entire federation is being shortchanged by those activities. Since 2010, there were no payments of Joint Venture Cash Call by the NNPC when the oil was $110 per barrel up to when the President took over in 2015.”
“The Federal Government’s insensitivity to the Niger Delta development has obviously reached its crescendo. We will not take this but resist with our might. This broad day light robbery against the Niger Delta people will not be accepted by us. We are going to resist this perpetual injustice against our long-neglected people in the region.”
“The Zero Oil Plan aims at earning at least $30 billion from non-oil sources in the near to medium term as against the current earnings of about $5 billion.”
“But let me also make a strong and important point. If not because TSA is in place and now that the recession is here, only God knows what would have happened. A monthly drain of over N4 billion and yet no revenue coming in and leakages continued. It could have been a disaster. It was government’s foresightedness and focus even as TSA was in place before the recession. And that is why we are floating and not sinking, and we will not sink God willing,” he said.
ashola noted that five out of the 60 interventions plans under the Economic Recovery and Growth Programme (ERGP) launched last week by President Buhari were related to power supply, stressing that with the private sector controlling the power sector, the role of the government now was policy and coordination, and creating enabling business environment for the investors to deliver.
“The minister added that these financial abuses have been going on for a decade, whereby the agencies hide revenues that ought to go into the Federation Account,” Obiano said.
