NEWS
Audit Query: Reps panel investigates NIPC Over N1.19bn Extra Budgetary Expenditure
The Nigeria Investment Promotion Commission, (NIPC), a Federal Government agency under the Federal Ministry of Industry, Trade and Investment is under probe by the House of Representatives panel on Public accounts for engaging in extra budgetary expenditure of N1.19 billion in the 2018 and 2019 financial years.
A report from the office of the Auditor General of the Federation, indicated that the NIPC had a budget of N194 million in 2018, and NN180.6 million in 2019, but spent N700 million and N871 million respectively.
Consequently, the Committee chaired by Hon Whole Oke, (PDP-Osun) ordered the management of the Agency to provide full explanations on why the agency would spend government money at their disposal without the approval of the National Assembly in form of appropriation.
In addition, the Committee is also investigating why the Commission would re-award a contract for the supply and installation of 50 units of complete computer sets and UPS at the cost of N28.9 million when an upward review of the same contract demanded by the original contractor was N27.6 million.
A brief from the Public Accounts Committee on the query revealed that “N180.6 million was budgeted for overhead cost in the year 2019, but NIPC ended in spending N871 million excluding depreciation without the approval of the National Assembly.
According to panel, “There was extra budgetary spending on overhead in the year 2018 without supplementary approval from the National Assembly. N194 million appropriated but NIPC spent over N700 million.”
The Committee therefore directed the Commission to provide the National Assembly’s approval for extra budgetary spending of N690 million.
The query alleged that the contract for the supply and installation of 50 units of complete computer sets and UPS to Digital Communication Konsult at the cost of N22.5 million in 2020, but repudiated the contract on account that the contractor requested for upward review to N27.6 million citing unstable exchange rate as an excuse, but the contract was later re-awarded to Dotmac Technologies Limited at the cost of N28.9 million.
The committee also wanted the Executive Secretary of the NIPC to explain why the Commission was not implementing the provisions of the Pensions Reform Act which stipulate 18 percent contribution, while the agency is implementing 15 percent.
A close study of the 223 paged document presented to the Committee by the Commission showed a line item suggesting that the Commission may have spent its internally generated revenue for 2019 to service its recurrent and capital budget.
For example, the statement indicated that comparison between budget and actual transaction as at 31st December, 2019 shows under Internally Generated Revenue, a recurrent item which states that there was a personnel cost budget of N500 million and actual of N349,750,700.50, overhead budget of N966 million and actual of N749,811,184.32 as well as capital budget of N149 million and actual of N91,123,865.07.
It was also discovered that the NIPC with a staff strength of about 210 with 63 of them being management staff, 137 as senior staff with only 10 junior staff spent about N38.5 million on overseas and local training and a whooping N81.7 million on travels alone in 2019.
READ ALSO: Hope Uzodimma didn’t stop sit-at-home, IPOB did
The Committee had earlier rejected the submission made to it on the query saying that the supporting documents were neither signed nor authenticated by any authority which made the submission invalid in the eyes of the law..
Consequently, the Committee stepped down all its queries and directed its new Executive Secretary, Mrs Saratu Umàr to go back with the Submission to enable her to familiarise herself with it and come back to defend it by next week Wednesday
The Director of Finance of the Commission, Mr Akwada James had stunned the Committee members while defending the submission as he said that he was at loss while preparing the submission and that he did not know how to explain the item by item in the queries as demanded by the Committee.
The Committee members one after the other pointed out several flaws in the submission which they said looked like forged document that would not stand the test of time before the law.
In his remarks on the development, the Chairman of the Committee, Hon Oke said,” Madam New Executive Secretary, in line with the principle of fair hearing they operate, the Committee should allow them to pick a date, so that they can go and familiarise themselves with the submission and the relevant documents and come back to defend the query since they just assumed office and those on ground before them are not helping the matter”
Mrs Umar while appreciating the gesture extended to her promised to appear before the Committee for proper defence in the second week of September this year.
The Dangote Petroleum Refinery has announced a reduction in the price of Premium Motor Spirit (PMS), also known as petrol, to ₦970 per litre for oil marketers.
This new price, effective immediately, marks a ₦20 decrease from the refinery’s previous ex-depot price of ₦990 per litre, which was set earlier this month.
In a statement released on Sunday, Anthony Chiejina, the refinery’s Chief Branding and Communications Officer, explained that the price reduction is a way for the company to express its appreciation to Nigerians for their unwavering support in making the refinery a reality.
READ MORE: NDLEA Nabs Businessman For Using Ingestion To Smuggle Cocaine
“This decision is our way of thanking Nigerians for their unwavering support in making the refinery a dream come true,” Chiejina said.
The statement also highlighted the refinery’s gratitude towards the Nigerian government, acknowledging the role of government measures in supporting domestic businesses.
“In addition, this is to thank the government for their support, as this will complement the measures put in place to encourage domestic enterprise for our collective well-being,” the statement read.
Despite the price cut, the refinery reassured consumers that there would be no compromise on the quality of its products. “While the refinery would not compromise on the quality of its petroleum products, we assure you of best quality products that are environmentally friendly and sustainable,” the statement added.
The company also committed to ramping up production to meet domestic fuel consumption and alleviate concerns over potential supply shortages.
“We are determined to keep ramping up production to meet and surpass our domestic fuel consumption; thus, dispelling any fear of a shortfall in supply,” the statement concluded.
The price reduction is expected to save marketers approximately ₦20 per litre on purchases from the refinery’s Lekki-based plant.
Simon Ekpa, a Finnish citizen of Nigerian descent and a controversial figure in the Biafran separatist movement, has dismissed his self-styled title of “Prime Minister of Biafra” as inconsequential.
Speaking during legal proceedings at the Päijät-Häme District Court in Finland, Ekpa stated, “I am just a content creator; the issue of Prime Minister of Biafra is not serious.”
READ ALSO: National Assembly In Top Gear For Tinubu’s 2025 Budget Presentation
Ekpa’s statement comes in the wake of his arrest by Finnish authorities on charges related to incitement of terrorism.
The Finnish National Bureau of Investigation (NBI) has accused Ekpa of public incitement to commit crimes with terrorist intent.
The arrest stems from an incident in Lahti on August 23, 2021, and officials are also seeking the detention of four other suspects linked to the case.
“The detention demands are related to a preliminary investigation in which a Finnish citizen of Nigerian descent, born in the 1980s, is suspected of public incitement to commit a crime with terrorist intent,” the NBI said in a statement.
Ekpa, who has used his social media platforms to advocate for Biafran independence, has been a divisive figure in Nigeria’s southeast region.
His rhetoric and actions, including calls for economic shutdowns through “sit-at-home” orders, have been linked to widespread unrest and disruptions in the region.
The National Assembly management team, led by Clerk Sani Magaji Tambawal, has ramped up efforts to ensure a seamless presentation of the 2025 Appropriation Bill by President Bola Ahmed Tinubu.
The event, scheduled for a joint session of the Senate and House of Representatives, is regarded as a significant moment in Nigeria’s legislative calendar.
Preparations include a thorough inspection of the assembly chambers to ensure all facilities are fully functional.
READ MORE: PDP Governors Probe Ondo Polls, Criticizes Edo Result
Deputy Clerk Kamoru Ogunlana, who is overseeing the technical arrangements, confirmed that key systems, including microphones, sound equipment, and other audio-visual tools, have been tested to ensure smooth communication during the session.
“We are working tirelessly to ensure that the National Assembly is fully prepared to receive Mr. President and provide a conducive environment for this significant moment in our democratic process,” Ogunlana stated.
Seating arrangements are also being finalized to accommodate lawmakers, government officials, and other dignitaries expected at the session.
Security measures are being reviewed in collaboration with relevant agencies to ensure the safety of all attendees. Meanwhile, press accreditation is being managed to facilitate effective media coverage.
The 2025 budget presentation is expected to highlight the government’s economic priorities while reinforcing the partnership between the executive and legislative arms of government.
As the session approaches, the National Assembly has expressed its commitment to upholding Nigeria’s democratic values and providing a platform for transparent governance.
NGO Empowers 180 Market Women In Akwa Ibom
Steve Cooper Dismissed As Leicester Manager
Dangote Refinery Cuts Petrol Price To ₦970 per Litre For Marketers
I Am Just A Content Creator – Simon Ekpa Denies Biafran Leadership Role
Adamawa Courts Jail Twelve Internet Fraudsters
National Assembly In Top Gear For Tinubu’s 2025 Budget Presentation
OSSG Raises Alarm Over Murder Plot By APC Chieftain
NCC, SMEDAN, NAICOM, SEC, Others Set for SUPERNEWS SMEs Conf June 13
Sahara’s Tonye Cole resigns from GPHCDA
Oando opens ultra-modern petrol station in Lagos
Niger Delta Avengers: President Buhari Reads riot Act …considers the carrot and stick option
