Regardless of Contradictions, Buhari Describes NNPC’s $697m Internet Revenue as Jinx Damaged – Come up Information

The presidency says for the primary time within the historical past of Nigeria, President Muhammadu Buhari broke a giant-sized jinx when the Nigerian Nationwide Petroleum Company (NNPC) introduced a primary Internet Revenue within the 44-year historical past of the group.

Presidential spokesman Femi Adesina in an announcement on Sunday mentioned underneath Mr Buhari, who doubles as Minister for Petroleum Assets, the oil conglomerate introduced a first-ever revenue of N287 billion, some $697 million.

Critics have argued that the spokesman assertion could seem like inaccurate as NNPC’s 2019 monetary report confirmed that the state-owned oil firm made a revenue of N111.59 in 2017.

The report additionally confirmed that the group posted a lack of N770.18 billion in 2015 and N119.03 billion in 2016.

N803.14 billion and N1.7 billion have been posted as losses by NNPC on the finish of 2018 and 2019 monetary operations.

Whereas the monetary report for 2021 has not been revealed, the petroleum minister and NNPC mentioned the corporate made a revenue of N287 billion.

Within the assertion, Mr Adesina mentioned the revenue introduced by his principal was not at all the one main jinx damaged within the lifetime of the Buhari administration.

Under are a number of the polices and tasks listed by the presidency which were carried out by the Buhari authorities.

Insurance policies and laws:
1.Petroleum Trade Invoice signed into regulation in 2021, after nearly twenty years within the works. It’s aimed toward reforming a Petroleum Act relationship again to 1969, in addition to different supplementary legal guidelines and laws.

2.Deep Offshore and Inland Basin (Manufacturing Sharing Contracts) Act, 2019, amended for the primary time since 1993.

3.Greater than 6 billion {dollars} of inherited Money Name Arrears now being cleared by the Buhari Administration, since 2016. Greater than 3 billion {dollars} of the arrears (funds as a consequence of Worldwide Oil Firms) have since been paid.

4.The Buhari Administration has overseen the primary profitable Marginal Fields Bid Spherical in nearly 20 years.

5.The Buhari Administration has launched the primary Nationwide Social Funding Programme within the nation’s historical past. Right now it’s the largest Social Funding Programme in Africa and one of many largest on the earth.

6.Restoration of the Federal Price range to a January-to-December cycle, after greater than a decade.

7.The Nigeria Middle for Illness Management (NCDC) was established in 2011, and for its first seven years didn’t have an enabling Act of the Nationwide Meeting — Till 2018 when President Buhari assented to the NCDC Act.

7.Nigeria Police Act, 2020: The primary overhaul of the Police Act because it was initially enacted in 1943.

8.Nigeria Correctional Service Act, 2019 – overhauled the prevailing Prisons Act, nearly 50 years after it was first enacted.

9.Finance Acts 2019 and 2020 – the primary time ever that Federal Budgets are being accompanied by devoted and particular reform laws, to help implementation.

10.Suppression of Piracy and Different Maritime Offences Invoice (SPOMO), 2019: The primary of its form in the whole Gulf of Guinea, devoted to prosecuting maritime offences.

11.Police Belief Fund Act, 2019: First-ever laws devoted to addressing the financing of the Police Drive.

12.CAMA, 2020 – the primary overhaul of the Firm and Allied Issues Act (CAMA) in 30 years.

13.Discrimination Towards Individuals With Disabilities (Prohibition) Act, 2018: One other unprecedented piece of laws in Nigeria.

14.Treasury Single Account (TSA) began in 2012, expanded throughout the whole Authorities by President Buhari


1.Itakpe-Warri Rail Line, began in 1987, deserted for many years, and eventually accomplished in 2020.

2.Completion of 4 normal gauge railway tasks between 2016 and 2021: Abuja-Kaduna Rail Line, Abuja Metro Line, Itakpe-Warri Rail Line and Lagos-Ibadan Rail Line.

3.President Buhari is the primary President to begin and full a rail challenge in Nigeria’s historical past (Lagos-Ibadan Rail).

4.The final NLNG Practice challenge (Practice 6) was accomplished in 2008. President Buhari has efficiently flagged off Practice 7 development.

5.Apapa-Oshodi-Oworonshoki Expressway, present process full reconstruction for the primary time because it was constructed within the late Nineteen Seventies.

6.Bodo-Bonny Bridges and Highway: Development lastly kicked off in 2017, after a number of many years of planning, and three false begins.

7.The long-awaited Ogoni Clear-Up kicked off underneath the Buhari Administration.

8.The Nigerian Navy has this 12 months (2021) acquired its first new Touchdown Ship Tank (LST) in additional than 40 years.

9.The Nigerian Air Drive has loved the most important funding in fleet renewal in many years, underneath President Buhari, buying greater than two-dozen new plane since 2016.

10.Development of the primary full-scale personal refinery and the primary privately financed Deep Sea Port in Nigeria’s historical past each began underneath President Buhari’s watch.

11.Just one Modular Refinery within the nation pre-2016. Since 2018, there have been a number of both underneath development or already accomplished.

12.Maritime College, Delta State, licensed by the NUC and operationalized in 2018.

13.Completion, since 2016, of twelve (12) inherited Dam tasks throughout the nation: Kashimbila Multipurpose Dam, Taraba; Ogwashi-Uku Multipurpose Dam, Delta; Adada Dam, Enugu; Sulma Earth Dam, Katsina; Gimi Earth Dam, Kaduna; Amla-Otukpo Dam, Benue; Amauzari Earth Dam, Imo; Ibiono-Ibom Earth Dam, Akwa Ibom; Gadau/Lafia Zigau Dam, Bauchi; Alajue Small Earth Dam, Osun; Kampe Omi Dam, Kogi (Rehabilitation) and Kargo Dam, Kaduna (Rehabilitation).

14.Completion of three (3) inherited Hydropower Initiatives, accounting for greater than 100MW of electrical energy in complete: Gurara Hydropower Challenge, 30MW, Kaduna State – accomplished and concessioned in 2020; Kashimbila Hydropower Challenge, 40MW, Taraba, Dadin-Kowa Hydropower Challenge, 40MW, Gombe.

15.Completion, since 2016, of seven (7) inherited Irrigation tasks and 30 Water Provide Initiatives inherited by the Administration, together with the Central Ogbia Regional Water Provide Challenge in Bayelsa State, Northern Ishan Regional Water Provide Challenge and the Ojirami Dam Water Provide Scheme and Reticulation Community, each in Edo State; Sabke, Dutsi and Mashi Water Provide Challenge in Katsina State; Vom Water Provide Challenge and Mangu Regional Water Provide Scheme in Plateau State; Takum Water Provide Challenge in Taraba State; Gambaki/Chinade/Hardawa/Bulkachuwa Water Provide Challenge in Bauchi State; Inyishi Regional Water Provide Challenge in Imo State; Ilobu Water Provide Scheme and Osogbo Water Provide Scheme in Osun State; Idanre Water Provide Challenge in Ondo State; Ofeme Water Provide Challenge in Abia State; Uburu Water Provide Scheme in Ebonyi State; Gashua Water Provide Scheme in Yobe State; Kwami Gadam and Bojude Water Provide Challenge in Gombe State; the Saki City Water Provide Challenge, Oyo State; and the Zobe and Kazaure Water Provide Initiatives in Katsina and Jigawa States respectively.

16.NDDC HQ Complicated, began within the mid-Nineties, accomplished in 2021.

17.EFCC HQ Complicated, development began in 2011, accomplished in 2018.

18.Zik Mausoleum, began in 1996, accomplished and commissioned 2018.

By Abel Ejikeme

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