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.
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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.
Vice President Kashim Shettima has arrived in Uyo, the Akwa Ibom State capital, for the All Progressives Congress (APC) presidential campaign rally ahead of the 2027 general elections.
The development was disclosed on Friday by Stanley Nkwocha, Senior Special Assistant to the President on Media and Communications in the Office of the Vice President.
Akwa Ibom occupies a strategic position in President Bola Ahmed Tinubu’s Renewed Hope Agenda, with major federal investments expected to strengthen infrastructure and economic activities across the state.
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One of the major projects is the Lagos–Calabar Coastal Highway, which has an approximately 82.8-kilometre stretch passing through Akwa Ibom.
The project, according to the statement, “promises improved connectivity, expanded trade, greater investment and new economic opportunities for communities across the region.”
Beyond infrastructure, the administration’s interventions in education, agriculture, healthcare, youth empowerment and social protection are also designed to improve livelihoods and broaden economic participation.
The Nigerian Education Loan Fund (NELFund) is among the initiatives highlighted, complementing Governor Umo Eno’s investments in roads, aviation, tourism and human capital development.
The statement noted that the Uyo rally provides “another opportunity to strengthen the APC’s growing political presence in the South-South and make the case for continuity in 2027.”
Executive Vice President and Country Chair, Shell Companies in Nigeria, Elohor Aiboni was among 100 people honoured with the DTN@100 Award.
She joined a list of distinguished recipients recognised by the Daily Times newspapers. The contributions of the awardees to national development will be documented in a special publication, titled Nigerian Grand Book.
Daily Times which started publication in 1926 gave the awards as part of its centenary celebrations in Lagos. The centenary theme is: “Honouring the Past, Shaping the Future.” Chairman, Folio Media Group and Publisher Daily Times of Nigeria Fidelis Anosike said: “We proudly celebrate Elohor Aiboni, Executive Vice President and Country Chair of Shell Companies in Nigeria, for her well-deserved recognition at the Daily Times Heroes Award. As a visionary female leader, Elohor has shown that true leadership is defined by action. Her forward-thinking policies continue to drive real, positive change across our nation.”
In her response, Elohor said: “Although this award is presented to me, I do not regard it as mine alone. I share it with my colleagues across the Shell Companies in Nigeria, our partners, and the many people I have had the privilege of working with and learning from over the years.”
Elohor was commended for her achievements in a career in the energy industry that started in Shell in 2002. In addition to serving in operational roles within and outside Nigeria, she has worked as asset manager for Bonga, leading up to her appointment as Managing Director of Shell Nigeria Exploration and Production Company Limited (SNEPCo) in 2021, the first female to hold the post. Early this year, she took up the role of Executive Vice President and Country Chair, Shell Companies in Nigeria, also the first female and Nigerian to hold both roles.
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In her acceptance speech, Elohor also called for concerted efforts towards educating the girl-child. She said: “If we are serious about shaping Nigeria’s future, we must be equally serious about educating and empowering the Nigerian girl child. Education provides not only knowledge, but also confidence, choice and the opportunity to contribute meaningfully to her community and country.”
Photo Caption – L-R: Energy and Investment Solicitor, Sam Aiboni; Executive Vice President and Country Chair, Shell Nigeria, Elohor Aiboni; actress Rita Dominic; and Daily Times Chairman, Fidelis Anosike, during the award presentation at Harbour Point, Lagos.
President Bola Ahmed Tinubu has congratulated Nigeria’s U-17 women’s national football team, the Flamingos, following their historic qualification for the final of the 2026 FIFA U-17 Women’s World Cup in Morocco.
The President commended the team for their impressive 3-1 victory over Brazil in Wednesday’s semi-final, describing their achievement as a remarkable milestone that has brought immense pride and joy to Nigerians at home and abroad.
In a statement issued on Thursday, November 5, by his Special Adviser on Information and Strategy, Bayo Onanuga, Tinubu also praised the coaching crew and everyone whose hard work and support contributed to the team’s successful campaign.
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With the Flamingos set to face Japan in the final, the President urged the players to remain focused, confident and determined as they pursue the historic world title.
“I encourage you to approach the final with the same fighting spirit and belief that have brought you this far. I have confidence in your ability to make history by winning the coveted world title,” he said.
Tinubu also called on Nigerians to rally behind the young players, describing them as national ambassadors whose achievements continue to showcase the country’s sporting excellence.
He said the team’s performance would inspire a new generation of girls to pursue their dreams without limitations.
“Once again, Nigeria is proud of you. Go for the trophy, Flamingos!” the President added.
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