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SERAP Urges Tinubu To Unveil Defaulting Contractors Over N167bn MDAs’ Fraud
The Socio-Economic Rights and Accountability Project (SERAP) has urged President Bola Tinubu “to direct the Minister of Finance and Coordinating Minister of the Economy, Olawale Edun and the Accountant-General of the Federation, Oluwatoyin Sakirat Madein to disclose the specific names of the companies and contractors who collected over N167 billion from 31 ministries, departments and agencies (MDAs) but failed to execute any projects.”
The SERAP is also seeking “the details of the projects for which the contractors collected N167 billion, and the proposed locations, as well as the number of contractors involved and the amount collected by each contractor.”
Recall that the revelations were documented in the recently released 2021 audited report by the Office of the Auditor-General of the Federation.
The SERAP stated, “The details to be published should include the names of shareholders and others that might have any ownership interests in the companies that collected over N167 billion from 31 MDAs but disappeared with the money without executing any projects.”
The SERAP urged Tinubu “to direct the Attorney General of the Federation and Minister of Justice Mr Lateef Fagbemi, SAN, and appropriate anti-corruption agencies to promptly bring to justice, as appropriate, any companies and contractors who collected the over N167 billion of public funds but failed to execute any projects.
“To name and shame the companies and contractors and to ensure the recovery of the over N167 billion reportedly collected by them for projects not executed. The recovered money should be fully remitted to the treasury.”
In the letter dated 30 November 2024 and signed by the SERAP’s deputy director, Kolawole Oluwadare, the organisation said: “Publishing the names will make it hard for companies and contractors to get away with complicity in grand corruption.”
The SERAP said, “Holding the companies and contractors who collected over N167 billion from 31 MDAs but disappeared with the money would also prevent and combat waste, fraud, and abuse in the spending of public funds.”
The letter, read in part: “The Nigerian Bulk Electricity Trading Plc., (NBET) alone reportedly paid N100 billion to companies and contractors for projects not executed.
“It is important to show that your government would not shield or allow ingrained wrongdoing by companies and contractors to go unpunished.
“Unless the names of the companies and contractors are disclosed and widely published, alleged corrupt companies and contractors executing public projects will not be deterred and the victims of corruption that they allegedly committed will continue to be denied access to justice and effective remedies.
“The allegations of corruption involving many companies and contractors who collected over N167 billion from 31 MDAs have continued to impair, obstruct and undermine access of poor Nigerians to public goods and services.
“According to the 2021 annual audited report by the Auditor-General of the Federation published on Wednesday 13 November 2024, thirty one (31) ministries, departments and agencies (MDAs) paid over N167 billion [N167,592,177,559.40] to companies and contractors for contracts and projects not executed.
“Companies and contractors reportedly collected N100 billion from the Nigerian Bulk Electricity Trading Plc., (NBET) for contracts and projects not executed.
“The thirty other MDAs including Nigerian Correctional Service; National Pension Commission, Abuja; Federal College of Land Resources Technology, Owerri; and Hydrocarbon Pollution Remediation Project (HYPREP) Office.
“Others include: Petroleum Technology Development Fund (PTDF); Federal Ministry of Youth and Sports Development; Federal Medical Centre, Bida, Niger state; National Centre for Women Development; Institute for Peace and Conflict Resolution; National Business and Technical Examinations Board (NABTEB); Federal University of Gasua; and Ministry of Niger Delta Affairs.
“The companies and contractors that allegedly disappeared with public funds meant for public projects may also be liable for aiding and abetting the commission of acts of grand corruption.
“We would therefore be grateful if the recommended measures are taken within seven days of the receipt and/or publication of this letter. If we have not heard from you by then, SERAP shall take all appropriate legal actions to compel your government to comply with our request in the public interest.
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“Failure to take punitive and dissuasive measures would allow corrupt companies and contractors to continue to undermine the rule of law and socio-economic development of the country.
“Senior public officials who apparently served as intermediaries for these companies and contractors continue to escape justice. The allegations of corruption involving the use of the public funds may be responsible for the developmental challenges confronting the country and lack of effective and efficient public goods and services.
“The allegations that the companies and contractors collected over N167 billion of public funds from 31 MDAs but failed to execute any projects clearly amount to a fundamental breach of national anticorruption laws and the country’s international anticorruption obligations.
“The consequences of corruption are felt by citizens on a daily basis. Corruption exposes them to additional costs to pay for health, education and administrative services.
“Another consequence of corruption is the growing inequality in the country, where the privileged few have access to all public resources, while the vast majority of citizens are deprived of access to public services.
“Corruption undermines economic development of the country, trapping the majority of Nigerians in poverty and depriving them of opportunities.
“The Minister of Finance and Coordinating Minister of the Economy and the Accountant-General of the Federation have sacred duties to ensure that natural resources and wealth are transparently and accountably used solely for the purposes for which they are budgeted, and for the effective development of public goods and services.
“Your government has a responsibility to ensure transparency and accountability in how any public funds are spent by MDAs, to reduce vulnerability to corruption and mismanagement.
“The accountability of government to the general public is a hallmark of democratic governance, which Nigeria seeks to practice.
“Ensuring the accountability of companies and contractors and the recovery of any missing public funds would improve public accountability in MDAs.
“Accountability requires transparency. Nigerians’ right to a democratic governance allows them to appreciably influence the direction of government, and have an opportunity to assess progress and assign blame.
“The UN Convention against Corruption to which Nigeria is a state party contains requirements of integrity and honesty in economic, financial or commercial activities-in the public and private sectors.
“It also imposes obligations on the government to ensure that sanctions imposed for corruption on natural and legal persons are effective, proportionate and dissuasive.
“The Nigerian Constitution, Freedom of Information Act, and the country’s anti-corruption and human rights obligations rest on the principle that citizens should have access to information regarding their government’s activities.”
NEWS
Dangote Refinery Exports 1.1bn Litres of Aviation Fuel to Europe, Supplies 95% of Nigeria’s Jet A1 – AON
The Airlines Operators of Nigeria (AON) has described the Dangote Petroleum Refinery and Petrochemicals as a critical pillar of support for Nigeria’s aviation industry, disclosing that the refinery currently supplies over 95 per cent of the Jet A1 fuel consumed nationwide.
Biztellers reports that the company also exported 1.1 billion litres of aviation fuel to Europe between March and April 20.
Speaking during a televised interview, AON spokesperson Obiora Okonkwo said the refinery’s output has played a vital role in sustaining domestic airline operations at a time of global supply disruptions arising from tensions in the Middle East and rising fuel costs.
“It is a matter of fact that over 95 per cent of aviation fuel supplied across the country comes from the Dangote refinery. To airline operators in Nigeria, Dangote is not just a refinery; it is a game changer and, indeed, a lifesaver,” Okonkwo said.
He noted that despite the refinery’s consistent supply, airlines continue to face severe operational strain due to escalating Jet A1 prices, which he attributed to sharp practices within the downstream distribution chain.
According to Okonkwo, some fuel marketers are allegedly creating artificial scarcity in spite of available supply from the refinery, leading to disproportionate price increases. He disclosed that airline operators have recorded Jet A1 price hikes of up to 300 per cent since the onset of the Middle East crisis.
“We consider this exploitation. The refinery has not indicated any shortage, yet we are witnessing artificial scarcity and unjustifiable price increases. What airlines pay does not reflect depot prices,” he said, suggesting the presence of racketeering within the market.
Echoing these concerns after a closed‑door meeting between the AON and the Federal Government, Chairman and Chief Executive Officer of Air Peace, Allen Onyema, described the situation as deeply troubling, particularly given that the Dangote refinery sells its products at comparatively lower rates.
“The truth is that marketers must be called to account. How do prices rise by as much as 300 per cent when Dangote’s supply remains the cheapest and some marketers source directly from the refinery?” Onyema asked. “So, why the astronomical increase?”
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Meanwhile, the Dangote Refinery continues to expand its footprint in the international aviation fuel market. Industry data indicate that the facility exported approximately 876,000 metric tonnes of jet fuel to Europe within the period under review—about 456,000 tonnes in March and an additional 420,000 tonnes by April 20.
These export volumes underscore the refinery’s growing capacity and improved logistics, further reinforcing Nigeria’s emerging role in the global downstream oil and gas market, even as it strengthens domestic energy security.
Photo Caption
From Left: President/CE, Dangote Industries Limited, Aliko Dangote; President of Uganda, H.E. Yoweri Museveni; President of Kenya, H.E. William Ruto, and CEO of the Africa Finance Corporation, Samaila Zubairu, at The Africa We Build Summit in Nairobi, Kenya, on Thursday.
NEWS
Peterside Harps on Strong Leadership at NCDMB Book Reading Series
The Nigerian Content Development and Monitoring Board (NCDMB), on Wednesday at its Conference Centre hosted the 2026 first quarter edition of its Book Reading Series.
With Dr. Dakuku Peterside, former Director-General of the Nigerian Maritime and Safety Administration (NIMASA) as guest author, the event focused on the 204-page publication of the author, ‘Leading in a Storm: Practical Leadership Strategies in Crisis Situations’, published in 2025.
The capacity audience was drawn from higher institutions, the media, Association of Nigerian Authors (ANA), and Nigerian Institute of Public Relations (NIPR), with several others participating virtually.
The Executive Secretary of the NCDMB, Felix Ogbe, represented by the General Manager, Corporate Communications Division (CCD), Dr. Obinna Ezeobi, said the book programme, which he described as “a signature event”, speaks to creativity, which is one of the core values of the Board.
He explained that the event is part of the Board’s strategy in fostering intellectual activity and sophistication among stakeholders, as well as building the abilities of Nigerians to operate productively in the oil and gas industry and linkage sectors, which is one of its core mandates.
The Executive Secretary enumerated several initiatives of the Board geared towards advancement of research and technology; notably six centres of excellence in the nation’s six geopolitical zones, each of which has a unique theme.
These are the Niger Delta University, Amassoma, with Marine and Petrochemical Technologies as theme; the Federal University of Technology, Minna (Engineering Design), and Federal University of Technology, Owerri (Local Raw Materials Substitution).
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Others are Modibbo Adama University of Technology (MAUTECH), Yola (Safety and Environment Studies); Usman Dan Fodio University (UDUS), Sokoto (Renewable Energy), and Federal University of Technology, Akure (Geology and Geophysical Studies).
Additional research centres established by the Board include Geosciences Research Centre at the University of Lagos and Marine and Offshore Training Centre at Rivers State University, Port Harcourt.
The latest is the Centres of Excellence in Gas Development at Delta State University, Abraka, being developed in partnership with Seplat Energy Plc.
According to Ogbe, the NCDMB is collaborating with Renaissance Africa Energy Company Limited (RAEC), First Exploration and Petroleum Development Company Limited, and the Nigerian Society of Engineers (NSE), to organise the first Nigerian Engineering Olympiad (NEO), which was launched on November 20, 2025 in Abuja.
The Olympiad is to encourage final-year and postgraduate students to be innovative in applying engineering principles to real-world operational challenges in and out of the oil and gas industry.
In the book conversation segment, moderated by Mr. Victor Binawari, Peterside explained the inspiration behind ‘Leading in a Storm…,’ saying, “My own lived experience informed the contents and thrusts of the work.”
He added, “Every single day, Nigerians face one crisis or another, and the experiences posit weakness of leadership.”
He recalled his time at the National Assembly, when he served as Chairman of the House of Representatives Committee on the Downstream Petroleum sector, with the unremitting crises in fuel supply.
As NIMASA Director General, he said he had to contend with recurring incidents of piracy within Nigeria’s territorial waters.
“Then the COVID-19 pandemic, which saw many world leaders fumbling, unable to determine how best to safeguard the health of citizens,” he said, adding that another inspiration was drawn from an uncomplimentary remark by a professor at America’s Kellog School of Management.
He said, “The professor remarked that ‘Africa is in a near-permanent state of crises.’ I began to investigate how leaders can perform better in crisis situations; calmness, clarity, adaptability, and resilience are critically important. What kind of choices leaders make when faced with crises would reveal the stuff they are made of.”
He outlined eight competencies of leadership, namely: “Contextual intelligence- the ability to read situations accurately and understand the deeper forces at play; Calm Confidence – which provides emotional stability; Sense-making – which enables a leader to find patterns in chaos and make meaning from confusion; Strategic Decision-making; Clear Communication; Strategic Flexibility; Coordinating Teamwork, and Facilitating Learning.
“Every great leader should rank high enough in these.”
On his style, which relies heavily on storytelling, he stated that stories are relatable, memorable and engaging, and that “stories teach you principles which you can apply.”
In closing remarks, Mr. Teleola Oyeleke, Supervisor, CCD of NCDMB, thanked Peterside for readily accepting the invitation and for the wealth of experience he shared at the event.
He also thanked all participants, while advising them to read and digest the contents of the book.
He also echoed the guest author in challenging attendees to have personal development programmes.
NEWS
Political Earthquake Brewing? Peter Obi, Bala Mohammed in Closed-Door Talks
Former Labour Party presidential candidate in the 2023 general election, Peter Obi, on Thursday visited Bauchi State for a closed-door meeting with Governor Bala Mohammed amid growing political realignments in the country.
Obi, who is also a chieftain of the African Democratic Congress (ADC) opposition coalition, arrived at the Bauchi State Government House where he proceeded to a private meeting with the governor at the Presidential Lounge.
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The purpose of the visit was not immediately known as both politicians held discussions behind closed doors.
Details of the meeting remained undisclosed at the time of filing this report.
However, sources within the Government House suggested that the meeting may be connected to recent political developments and possible alignments ahead of future elections, though this could not be independently verified.
Both leaders are expected to brief journalists after the meeting concludes.
Governor Bala Mohammed, who serves as Chairman of the Peoples Democratic Party (PDP) Governors’ Forum, has recently been at the center of political speculation regarding his party allegiance.
On March 31, he reportedly hinted at a possible political shift during a meeting with a delegation of the African Democratic Congress led by former Secretary to the Government of the Federation, Babachir Lawal, at the Government House in Bauchi.
However, his political engagements appeared to take a different turn shortly after, as he also hosted the National Chairman of the All Progressives Congress (APC), Nentawe Yilwatda, alongside Kano State Governor, Abba Yusuf, on April 1 at the same venue.
The latest meeting with Obi has further intensified speculation about ongoing political consultations and possible future alignments among key political actors.





