NEWS
Audit Query: Reps panel Probes NPA, Terminal Operator over $68.473m debts
…As NPA Boss Gives Details Of Transactions
By John Danjuma
The Public Account Committee, (PAC) of the House of Representatives is investigating the Nigerian Port Authority, NPA and Terminal Operators (Nigeria) Limited over $68,473m debts owed the Federal Government on lease and Throughput fair between 2006 and June 2022.
The Committee being Chaired by Hon Busayo Oluwole Oke (PDP Osun) is also investigating the Terminal Operator for using own exchange rate different from the official one approved by the Central Bank of Nigeria, CBN in calculating revenue accuring to the Federal government
All were contained in the query from the office of the Auditor General of the Federation.
The Managing Director of the Nigeria Port Authority (NPA) Mohammed Bello-Koko had indicated in a submission to the Committee that one of the Port operators in charge of the Rivers Port, and Terminal Operators (Nigeria) Limited used its own exchange rate in calculating revenue accruing to the Nigerian government
The NPA boss stated in the Submission that PTOL used N116 to the dollar at a time when the official exchange rate was fixed at N305 to the dollar by the Central Bank of Nigeria in 2016.
The submission dated 27th July, 2022 which was in response to a letter from the committee also revealed that even while using another exchange rate of N151 agreed to after reconciliation, the terminal operator was still indebted to the government to the tune of $68.473 million as at 13th October, 2021.
The Auditor General of the Federation had indicted the company for not paying its lease fees and throughout fee to the government as at when due.
However, in its submission, the company claimed that contrary to the report of the Auditor General, it had been paying its lease fees and Throughput fee to the Nigeria Port Authority as at when due contrary to the AuGF report.
A supporting document submitted by the NPA to the House committee tabulated the payments made by two concessionaires (BUA and PTOL) on lease and Throughput fees between 2006 and June 2022.
A close study of the document however showed a huge disparity in the figures being owed the government by the company.
For example, while the document suggested that in 2008, PTOL was given a bill of $11,333,333.31 and paid $3,333,333.31, outstanding balance against them was put at $17,194,444.67 instead of $8,000,000.
Similarly, in 2019, the bill given to the company for its operation at the Rivers Port Complex stood at $10,080,000.00.
However, while the document indicated that they paid $3,000,000, outstanding balance against them was put at $102,714,749.66, a figure far above the bill given to it as its lease fee.
However, the NPA letter reads: “Your letter dated 20th, July 2022 to the Authority refers to the historical background of the debt profile of PTOL to NPA dated back to – the inception of the concession, in 2006.
“These issues revolve around the inability of the Operator to make payment on its lease fees as signed with BPE and NPA.
PTOL gave the following reasons among others for its indebtedness to NPA:
“Amortization of berth 1-3. The difference in-amortization carried out by PTOL and what was recognized by NPA was significant when converted from dollar to naira.
“NPA relied on the existing exchange rate given by CBN at 305 as at year 2016, at the time of reconciliation while PTOL used N116 to a dollar, being the -rate of dollar at the time of reconstruction.
“After reconciliation, a N151 to dollar was adopted, as stipulated in the supplemental agreement. The difference in valuation amounted to $11,068,187.16 and a credit note was issued on the 5th June, 2020.
“PTOL claimed no operation happened at the berth during the construction period of 2007 – 2009, hence loss of revenue. PTOL claimed 6 vessels were handled by NPA after the signing of the lease’ agreement. And a refund of 50% stevedoring element was considered.
“Huge disparity in lease fees charged compared to BUA. Disparity in existing draft with the initial advertised draft of 10 meters.
Security concerns at the Eastern Port. Oil and Gas related cargo vessel diversion to Onne Port, which they claimed affected their revenue.”
The letter said further that the outstanding debt profile as at June, 2019 against PTOL in NPA records stood at $100,985,846.82 while PTOL acknowledge only $77 ,976,788.81.
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It indicated further that at a joint meeting with BPE, PTOL and NPA on the 14th December 2021 on resolving the outstanding debts of the terminal operator, a further reconciliation was carried out by NPA and PTOL at the Rivers Port.
It said the highlights of the reconciliation showed that “an implementation of a further reduction of 25% lease fee review granted by the Ministry of Transport and BPE in June, 2015.
“This was predicated on the terminal operator paying a Guarantee Minimum Tonnage (GMT) penalty of $2,849,404.41. This review was not Implemented by failure of PTOL to pay the stipulated penalty. A further agreement to issue a credit note of $1,940,821.16 for the
period the detained vessels were at the PTOL berth. These vessels were detained by various government agencies.”
The letter also said that a credit note of $11,821,500.16 was raised for the non-utilization in the berth during the reconstruction of berth 1 – 3 undertaken by PTOL.
It stressed that the second round of reconciliation report is yet to be approved by the Board of the NPA before its dissolution by the Honorable Minister of Transport, while the
report has been forwarded to the reconstituted board and is currently being considered.
It said that after these reconciliations, PTOL debt profile to NPA stood at $68,473,637.72 as at 13th October,2021.
Determined to get to the root of the matter, Committee has directed both the NPA boss and the terminal Operator to appear before it on Tuesday for further investigation.
Gabonese citizens lined up at polling stations on Saturday to cast their votes in a landmark presidential election, the first since the military ousted the Bongo dynasty in a coup last August.
Eight candidates are vying for the top job, but all signs point to junta leader General Brice Oligui Nguema — the man behind the August 30, 2023, coup — emerging as the frontrunner.
Oligui, who toppled Ali Bongo and ended 55 years of family rule widely criticized for corruption and economic mismanagement, has dominated opinion polls in the run-up to the vote.
In the capital, Libreville, snaking queues formed outside polling stations as voters turned out early.
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Among them was 30-year-old Aurele Ossantanga Mouila, who cast his ballot for the first time after finishing a night shift at a casino.
“I did not have confidence in the earlier regime,” Mouila told reporters, echoing the sentiments of many young voters hoping for change in the oil-rich central African nation.
Oligui, who served as transitional president while civilians drafted a new constitution, swapped his military uniform for campaign attire as he seeks a seven-year mandate.
He faces seven challengers, including his main rival, former Prime Minister Alain-Claude Bilie By Nze, a longtime insider under Ali Bongo who now brands himself as the face of a “complete rupture” from the past.
Despite Oligui’s promises of reform, critics question his commitment to breaking with the old system, noting his deep ties to the Bongo era.
His campaign slogan, “C’BON” — a clever wordplay blending his initials with the French phrase for “It’s good” — has been plastered across Libreville, while rival candidates struggle for visibility.
As roughly 920,000 registered voters cast their ballots, the election is taking place against a backdrop of pressing national issues.
High unemployment, failing infrastructure, regular power outages, and soaring government debt — projected to reach 80 percent of GDP this year — have fueled public frustration.
Analysts, like political observer Neyer Kenga, say the vote represents a critical test for Gabon’s return to civilian rule and constitutional order.
“Today all Gabonese are firmly in favour of a democratic game that is played within the rules,” Kenga noted, adding that the outcome remains uncertain in a nation scarred by post-election violence in 2009 and 2016, as well as last year’s coup.
The interior ministry has pledged a “transparent ballot” and results are expected by Monday. Meanwhile, Oligui remains confident of victory.
“The builder is here, the special candidate, the one you called,” he declared at his final rally, as music and dancing filled the streets of Libreville.
The National Association of Nigerian Students (NANS), Southwest Zone D, has cautioned the Senior Staff Association of Nigerian Universities (SSANU) against actions capable of disrupting academic activities at the Federal University Oye Ekiti (FUOYE).
In a statement released on Saturday in Ado Ekiti, the student body condemned what it described as “veiled threats” by SSANU Western Zone to mobilize its members for industrial action or protest at FUOYE, following the university’s handling of a sexual harassment allegation against the institution’s Vice Chancellor, Prof. Abayomi Fasina.
The controversy stems from an extraordinary meeting of FUOYE’s Governing Council, which exonerated Prof. Fasina of the sexual misconduct allegation, while two local SSANU leaders were found guilty of misconduct.
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The council directed the implicated unionists to issue written apologies and undertakings to abide by university regulations within seven days, although their suspensions were lifted, with a forfeiture of half salaries for the period under review.
In reaction, SSANU’s National Vice President for the Western Zone, Abdussobur Salaam, rejected the council’s decision and announced plans to mobilize union members across 26 universities for a possible industrial action until their demands were addressed.
Responding, NANS leaders Taiwo Owolewa (Coordinator), Olutunde Oluwole (General Secretary), and Eromidayo Kuku (Public Relations Officer) warned that any attempt to destabilize the academic environment would be met with firm resistance from the student body.
“Nigerian students and the entire NANS structure in the South-West and beyond will resist such moves with even greater mobilization across our over 70 tertiary institutions comprising more than 300,000 students,” the statement read.
They emphasized that students would not stand idly by and allow any group or union to jeopardize the academic future of over 50,000 students at FUOYE.
“This is not a threat; this is a declaration of readiness to protect the academic future of Nigerian students. FUOYE or any of our institutions in Southwest is not a battleground for political vendettas or union showdowns,” the student leaders asserted.
While urging SSANU to seek lawful and peaceful avenues to resolve grievances, NANS also called on stakeholders to step in and prevent any action that could compromise the stability of the institution.
Additionally, the association aligned itself with the conclusions of the university panel that cleared the Vice Chancellor of wrongdoing, citing corroboration from both the Nigeria Police Force and the testimonies of the concerned parties.
“Our foremost concern remains the welfare of students,” NANS stated, endorsing the Governing Council’s plans to establish a Peace and Reconciliation Committee as well as onboarding and reorientation programmes aimed at fostering a positive institutional culture.
Suspended Senator representing Kogi Central, Natasha Akpoti-Uduaghan, has urged the Inspector General of Police, Kayode Egbetokun, to disregard a petition filed against her by Senate President Godswill Akpabio and instead open a thorough investigation into allegations of threats to her life.
Akpabio had accused the embattled senator of defamation and incitement, following claims that he was involved in an alleged plot to assassinate her.
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Describing the allegations as “heinous lies,” Akpabio insisted they were designed to damage his reputation and stir public unrest.
Reacting through a statement released by her lawyer, Victor Giwa, Akpoti-Uduaghan dismissed the Senate President’s petition as an attempt to distract law enforcement from investigating the real issues.
“It is our client’s position that the Senate President should submit himself for a full investigation to security agents before any allegation of incitement against him,” the statement read.
Giwa went further to accuse Akpabio of trying to avoid scrutiny by raising counter-allegations, claiming that the Senate President was the “principal suspect” in the matter and had allegedly ordered the withdrawal of Akpoti-Uduaghan’s security.
The statement argued that Akpabio’s petition could only be considered after the allegations against him had been properly investigated and proven false.
“We therefore call on the Senate President to submit himself to full investigation rather than divert the attention of the security agents through a bubble petition,” Giwa stated.
“It is only when the investigation has been concluded, and the allegation has been shown to be false, that the issue of incitement and false allegation against Senator Natasha can be entertained.
“We therefore call on the Inspector General of Police to discontinue the Senate president’s Petition as being diversionary and prejudicing of investigation,” the statement concluded.
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