NEWS
Senate panel exposes $679.4 million Unremitted from Ports Concession since 2015 by BPE annually
*””NPA has been receiving rent since 2008 says BPE
Senate panel on public accounts has uncovered how Bureau of Public Enterprise (BPE) failed to remit $679.4 million realized from the concession of various ports granted to 23 companies under Nigerian Port Authority (NPA) for ten years.
The Committee chaired by Senator Matthew Urhoghide hinged the Investigation on Auditor General’s report which had been transferred to the Committee for consideration.
According to the query by AuGF, 23 companies were granted concessional rent at various Port under Nigerian Ports Authority for ten years and above associated yearly rent of $679.4 million payable to NPA as at 31st December.
But, There was no evidence to show that $679 million was collected as at when due and remitted to Consolidated Revenue Fund.
However, Bureau of Public Enterprise in its written response to the Senate’s Committee explained that the concession transactions were done in 2005 and the concession agreement executed clearly show that BPE was only a confirming party while the primary parties to the concessions are the Nigerian Port Authority (NPA).
BPE explained that the responsibility for such collection, is that of NPA and not that of our agency.
BPE added, “Having midwife the concession transactions. The BPE collected some of the remittance to the NPA.
“The NPA has since acknowledged the transfer made regarding the rentals received on its behalf by the Bureau.
“Revenue accruing on the Ports concession have, beyond 2008, been paid directly to “Landlord”, NPA and not the BPE as the OAuGF report appears to allege.
“We are therefore unaware of the $679.4 million.”
The AuGF query reads, “Twenty-three (23) companies were granted concessional rent of various Ports under Nigerian Ports Authority for ten years and above with associated yearly rent of $679,403,172.00 (Six hundred and seventy-nine million, four hundred and three thousand one hundred and seventy-two dollars) payable to NPA as at 31st December, 2016.
“There is no evidence to show that the sum of $679,403,172.00 was collected as at when due and remitted to the Consolidated Revenue Fund.
“This has been communicated to the Bureau vide letter with reference No. OAuGF/RESAD/05/2016/07 dated 19th April, 2018.No response has been received from the Bureau.
“Unremitted funds may be misapplied by the bureau. Also, it may lead to diversion of funds to other uses.
“The Director-General is required to show evidence that the sum of $679,403,172.00 was collected and remitted to the appropriate authority.”
A powerful 7.7-magnitude earthquake struck central Myanmar on Friday, shaking the region and sending tremors as far as Thailand and China.
The quake’s epicenter was located in the Sagaing region, near Mandalay, Myanmar’s second-largest city, home to around one million people and renowned for its historic temple complexes.
Panic erupted as buildings swayed and dust filled the air.
READ ALSO: Powerful 6.8-Magnitude Earthquake Hits China, Dozens Killed
In Mandalay, videos shared online showed terrified residents rushing out of residential towers while traffic came to a sudden halt.
Reports indicate that a major bridge spanning the Irrawaddy River collapsed into the water in a cloud of dust and debris.
The quake was felt as far as Bangkok, Thailand’s capital, where video footage showed a partially constructed building in Chatuchak Park crumbling to the ground.
Thai authorities reported that 43 people were trapped in the wreckage, while seven others sustained injuries.
In Chiang Mai, a resident described feeling the tremors for about ten seconds before fleeing into the streets.
In Myanmar’s commercial hub, Yangon—about 380 miles from the epicenter—residents also experienced the powerful shaking.
One resident recalled, “We felt the quake for about a minute, then ran out of the building.
It was very sudden and very strong.” Another noted that phone networks in the city, home to around 8 million people, briefly went down but were later restored.
Myanmar, one of Asia’s poorest nations, is already grappling with the effects of a brutal civil war sparked by a military coup over four years ago.
The conflict has devastated the economy, and the country remains ill-equipped to handle a major natural disaster of this scale.
The Sagaing region, where the earthquake struck, is a war zone with multiple factions—including the ruling junta, pro-military militias, and rebel groups—fighting for control.
The ongoing violence has made travel by road or river extremely dangerous, posing significant challenges to delivering emergency aid and assessing the full extent of the damage.
Tremors were also felt in China’s southwestern Yunnan province, underscoring the quake’s intensity.
Authorities across the region are now assessing the situation, with emergency teams mobilizing in both Myanmar and Thailand.
A fire outbreak in the early hours of Friday morning has gutted buildings on Ifejika Street, by Sokoto Road, Onitsha, prompting swift intervention from the Anambra State Fire Service.
The inferno, which reportedly started in one of the buildings at about 6:20 a.m., quickly spread to an adjacent structure, causing panic among residents and business owners in the area.
The exact cause of the fire remains unknown at the time of this report.
READ ALSO: Fire Ravages Two-Storey Commercial Building In Anambra
Eyewitnesses say residents and passersby joined forces with the firefighters in an attempt to salvage goods and properties from the affected buildings.
The head of the Media and Publicity Unit of the Anambra State Fire Service, Chukwudi Chiketa, confirmed the incident in a brief statement.
“Anambra State Fire Service is currently on intervention at the scene of the fire outbreak at Ifejika Street, by Sokoto Road, Onitsha. The distress call came at 6:20 a.m. today, and our firefighters deployed immediately. The public is advised to remain calm as the situation is under control,” Chiketa said.
As of the time of filing this report, efforts to completely extinguish the fire were still ongoing.
Authorities are yet to determine the extent of the damage and the possible cause of the outbreak.
More details to follow………
Following gradual return to normalcy, Osun State Governor, Senator Ademola Adeleke has directed immediate relaxation of the 24-hour curfew to 17 hours from Friday March 28, 2025.
This was divulged in a statement in Osogbo on Friday by the Spokesperson to the State Governor, Olawale Rasheed, who added that henceforth, the curfew would commence at 2pm and terminate at 7am the following day.
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Rasheed added that his principal made the decision to alleviate the suffering of residents of the three towns and provide an opportunity for them to attend to their immediate needs.
Gov Adeleke commended the cessation of hostility so far. However, he expressed dissatisfaction with the report of another killing for which the police have made an arrest, warning that “anybody or group of persons, found or caught masterminding any violent act will face the full consequences”
Consequently, Gov Adeleke tasked the joint security taskforce to maintain their usual 24-hour surveillance to ensure zero tolerance for any act of lawlessness.
Additionally, he directed the state emergency agency to intensify the support services for the displaced people as earlier directed.
Massive 7.7 Magnitude Earthquake Rocks Myanmar, Shakes Southeast Asia
Egypt Named Host Of 2025 U-20 AFCON As Côte d’Ivoire Withdraws
Fire Guts Buildings In Onitsha As Fire Service Intervenes
Ifon-Ilobu-Erin Conflict: Adeleke Reviews Curfew To 17 Hours Daily
GTI Facilitates NPFL Live Radio Commentaries At FRCN
