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NEITI: All of Nigeria’s oil savings can’t fund 20% of 2017 budget

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NEITI: All of Nigeria’s oil savings can’t fund 20% of 2017 budget Nigeria Extractive Industry Transparency Initiative (NEITI) says all of the country’s oil savings since the inception of its savings history cannot fund 20% of 2017 budget. In its second occasional paper series unveiled on Tuesday by Waziri Adio, its executive secretary, NEITI, said: “Nigeria has about three decades of experience in implementing different oil revenue funds. However, attempts at oil revenue savings have been plagued by contested legal frameworks, governance issues and inadequate political will. “Nigeria has one of lowest natural resource revenue savings in the world. The balance in the three funds (0.5% stabilization fund, ECA and NSIA) is less than $3.9 billion, not enough to fund 20% of 2017’s federal budget. “Nigeria’s $1.5 billion sovereign wealth fund is one of the lowest in the world, has one of the worst ratio to annual budget (10%), and one of the lowest SWF per capital ($8)...
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YOBE: Facebook comments against ex-police boss lands man in prison

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YOBE: Facebook comments against ex-police boss lands man in prison A Facebook message against a former Minister of Police Affairs, Maina Waziri posted by a Secondary School teacher identified as Muhammed Kime has landed him in prison. In the comments considered to be derogatory, Kime, a graduate of Linguistics ridiculed a former governor of the state, Senator Bukar Abba, saying he had not sponsored a single bill at the National Assembly since he was elected as a senator. “Well, for the record, we know the man (Abba) to be the most heavy drinker (sic) in Yobe State after Maina Waziri,” he wrote on Facebook. Continuing, the N-power enrolee also wrote thus on his page, “As a senator for years, this man hasn’t for once sponsored a single bill. Neither has he purchased a single nine inch block in the name of starting a constituency project. “Someone should start the recall process of this man before the real occupant of that seat goes to get his seat! And after the rec...
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THE PLACE OF ETCHE NATION/ MARGINALISATION IN RIVERS STATE POLITICS BY OTHER BLOCS.

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THE PLACE OF ETCHE NATION/ MARGINALISATION IN RIVERS STATE POLITICS BY OTHER BLOCS. By com. Noble C Nwugha It is over 50 years since the creation of our dear Rivers State. Precisely, the 27th day of May 1967 marked a watershed in the birth of the treasure base of our dear country. And then followed by the creation of the LGAs of Etche and Omuma which left no dent nor severance in the filiation and consangunity of the Etche bloc ( both LGAs) as a nation. Irrefutably, the carving out of Etche LGA from Ikwerre LGA and siting of the headquarters in Okehi, and later Eberi as the headquarters of Omuma just for political and administrative convenience, is what could be described as the only government structure or institution in the whole of Etche ethnic nationality, despite her huge economic and political contributions to the country's treasury vis-a-vis her ever abundant human resources. A nation (Etche) that is undisputedly the third largest ethnic group in Rivers S...
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