NEWS
FG Should Plug Corruption Holes in Oil Sector – IATT
By Edozie Obasi-Eze
The umbrella body of anti-corruption agencies under the Presidency, Inter-Agency Task Team (IATT), has decried the annual loss of $4.2 billion worth of crude oil, as a totally unacceptable loss which must be stopped in the interest of the country.
The group would want to see the enforcement of stricter anti-corruption measures in all agencies of the government, particularly the oil sector, to enthrone transparency and accountability.
During a high-level seminar to mark the International Anti-Corruption Day 2021 in Abuja on Thursday, the Executive Secretary of the Nigeria Extractive Industries Transparency Initiative (NEITI) and a member of IATT, Dr Orji Ogbonnaya Orji, said it was his agency’s special report that revealed the annual $4.2 billion crude oil that is either lost or stolen every year.
He maintained that these losses pose serious challenges to the government’s ability to deliver public goods and services to citizens.
His words, “Particularly, secret ownership or exploitation of mineral resources undermines national security and poses an existential threat to the country.
“Nigeria, through NEITI, recognised very early the damage done to the economy by these practices. In December 2019, Nigeria became the first country in Africa to establish a publicly accessible register of beneficial owners, and the first globally to establish a register in the extractive sector.
“This ground-breaking achievement was made possible by the efforts of different stakeholders including some anti-corruption agencies, in a process facilitated by Nigeria’s EITI.
“Within the last one year, we have carried out a self-assessment of the beneficial ownership register, under the oversight of the global EITI.
The EITI’s review of this assessment showed that Nigeria has made ‘meaningful progress’ in our implementation of the beneficial ownership register.
This is the second highest performance rating in the global EITI ranking, and was achieved after barely one year since we commenced implementation of beneficial ownership disclosure in Nigeria.”
An early Monday morning fire has destroyed several shops at the popular Oranya Market in Ibadan North-East Local Government Area of Oyo State.
The fire, which reportedly started around midnight, affected traders dealing in gold, furniture, second-hand clothes and other goods.
A trader identified as Iya Alia said nearly 300 shops were affected by the inferno.
SEE ALSO: BREAKING: Court Sentences Three to Life Imprisonment Over Oyo School Kidnapping
“The fire started around midnight. I cannot be specific about that time. And those affected were gold sellers, furniture sellers, second-hand clothes sellers and many others. The shops affected were almost 300.”
Another eyewitness described the incident as devastating, saying close to 300 shops were destroyed.
Confirming the incident, the Special Adviser to Governor Seyi Makinde on Fire Reforms and State Chairman of Fire Services, Morof Akinwande, said the fire started in the middle of the market following an explosion.
He, however, said the exact number of shops destroyed could not yet be established.
“Yes, it occurred. That number we cannot ascertain, but what is known is that some shops were destroyed and the fire incident started in the middle of the market with an explosion.”
Akinwande said it was too early to determine whether the explosion was caused by gas or another source, adding that the situation had been brought under control since about 1am.
“Whether it’s a gas explosion or other things. And when you have a gas explosion, it would spread, but as I am talking to you, the situation has been under control since 1 am.”
He explained that determining the number of affected shops and the value of goods lost would require a post-fire investigation.
“On the number of shops and inventory, that is too early because that’s post-fire outbreak investigation. So, I cannot be accurate about the number of shops that were destroyed. But shops were actually gone.”
The incident comes barely two days after another fire outbreak destroyed nine locked-up shops at the Nigerian Railway shopping complex along the popular Aleshinloye Market in Ibadan South-West Local Government Area.
The August 22 fire reportedly destroyed goods, household items and other properties worth millions of naira.
One of the affected traders, Busari Olayemi, said products worth about ₦21 million were destroyed, including window blinds, curtain fabrics, industrial sewing machines and other equipment.
Oranya Market also witnessed a major fire outbreak in 2024, when more than 200 shops in the herbal section were reportedly completely destroyed.
