November 25th, 2019 Governance

The Welfare of 47 Million Nigerians Hangs in the Balance Due to NDDC’s Mismanagement of 1.53 Trillion Naira

At least 1.534 trillion naira has been received by the Niger Delta Development Commission (NDDC) since its inception in 2001. This amount was allocated to the NDDC for expenditures on projects to reverse the huge infrastructural deficit in the nine Niger Delta states as a result of decades of government’s neglect and environmental degradation by oil exploration companies. However, the development crises that impact the oil-rich region with an estimated population of 46.8 million people remain unresolved. Expectedly, concerns are growing about the utilisation of the funds accrued to the Commission over the years.

November 2nd, 2019 Governance

EXCLUSIVE: Inside China’s $6.5 billion loans to Nigeria since 2002

The EXIM Bank of China is Nigeria’s biggest bilateral creditor in nearly 2 decades, having lent the African largest economy $6.5 billion (or N1.9 trillion) since 2002, analysis of official disclosures exclusively obtained by PREMIUM TIMES has shown.

October 14th, 2019 Governance

Ministry of Justice Defaults in Financial Expenditure Up to N254.3 Million

The Ministry of Justice, saddled with the duty of interpreting the Nigeria Constitution and sanctioning defaulters, has been found wanting in its financial appropriation, a 2016 Auditor General report has revealed.

March 15th, 2019 Governance

Special Report: Nigeria’s four seasons of lavishness with N15.46 trillion Excess Crude Fund

In the last fifteen years, the Nigerian government has spent at least $107.4 billion (the equivalent of N15.46 trillion) from the Excess Crude Account (ECA) under the administrations of Olusegun Obasanjo, Umaru Musa Yar Adua, Goodluck Jonathan and incumbent President Muhammadu Buhari.

March 14th, 2019 Governance

N15.5 trillion of LGA allocation ‘pocketed’ by State Governments in the last 12 years

In the last 12 years, 15.5 trillion were duly transferred to states on behalf of the 774 local governments, yet there is no public information on what portion of that 15.5 trillion, each local government received

March 14th, 2019 Governance

ANALYSIS: N25 trillion FAAC distribution and lingering financial challenges of state governments

Take a second to imagine how much your state received from the monthly Federal Account Allocation Committee (FAAC) disbursement in December 2018. Consider your local government’s budget as well. What numbers did you come up with?