Feature/OPED
Towards the Depoliticising of Forensic Audit on NDDC
By Obiaruko Christie Ndukwe
The Niger Delta people will, for a long time, remain wholeheartedly grateful to President Muhammadu Buhari for the immense goodwill he has shown to the good people of the oil-rich but a beleaguered region, through the various projects and programmes aimed at the total development and emancipation of the Niger Delta region.
We must acknowledge the concerted effort towards the completion of the East-West highway, the reintroduction of the Petroleum Industry Bill (P.I.B) to the National Assembly, the construction of the national headquarters of the Nigerian Content Development Monitoring Board (NCDMB) in the heart of the Niger Delta region, the monumental Bonny-Bodo road project, as well as the move to reposition the Niger Delta Development Commission (NDDC) through the institution of a forensic audit of the commission, just to mention but a few of the projects and programmes which has definitely put the region on the spotlight and assures that the region is on a steady path of growth and development as well as liberation from the clutches of entrenched stagnation and backwardness which has kept the region utterly underdeveloped and abandoned, over the decades.
While we are grateful for this effort, we emphasise that there is still a vacuum and a yearning, to do more for further development of the Niger Delta region.
Certainly, when the recap of events that made news in 2020 is done, one of the stories that will easily come to mind is the much-publicised probe of the NDDC by the National Assembly and for sure, a lot of people will love it, not just because it is a sordid and seamy commentary on the Niger Delta struggle, but mainly because recent events have exposed, albeit inadvertently, that whole exercise for what people have always termed it; a terrible, terrible entertainment.
The very sight of the Acting Managing Director of NDDC, Prof. Kemebradikumo Daniel Pondei losing his breath before the glaring cameras of national and international television should, ordinarily evoke solemnity and somewhat of sadness at the near loss of life, in the course of dedication to national service but this will be reduced further down the slope of horrific spectacles when the cardinal issues that gave rise to that probe, which includes the forensic audit ordered by President Buhari on NDDC, is discovered to have been highly politicized, and designed to be poorly executed, by high calibre politicians, seeking with a highway exit ramp out of the impending expository series which the forensic audit is sure to kickstart.
Needless to say, even party chieftains from both sides of the frontline political divides in the country sought to nail the Minister for Niger Delta Affairs, Godswill Akpabio, rather than live to see the exercise succeed.
Many a group who stood in the gap, intent and determined to brave the odds to ensure that NDDC does not fail in the mandate given to it as a creation of law, to salvage the Niger Delta from environmental degradation and entrench a developmental ideology, will be at a loss and in utter consternation at the sudden twist of fate.
It is sad that the NDDC, which some civil society and advocacy groups of goodwill fought to defend and liberate from the jackals and hyenas, has become a prisoner of sorts, to what looms the selfish interest of a selected few.
It does appear that the collective heritage of the entire Niger Delta region, comprising nine states (Abia, Akwa-Ibom, Bayelsa, Cross-River, Delta, Edo, Imo, Ondo and Rivers) have become the estate of not just the National Assembly members (especially principal officers and members of National Assembly Joint Committee on NDDC), but also of the NDDC management and senior staff as well as the Ministry of Niger Affairs!
The sordid tales of the rape of the Niger Delta has dominated the National discourse, this year, 2020 and has sadly not taken even a casualty, because the dramatis personae of this tragicomedy have insisted on a political solution, rather than a humanitarian approach to the issues raised, whereby the people of Niger Delta will have a breath a fresh and for once in a long time, benefit from their Natural endowment, which is the oil at their backyard. It is so sad to note that in December 2020, the budget details for the 2020 budget of the NDDC has neither been approved by the National Assembly nor released to the commission. What this means is that the Commission is technically grounded and unable to function effectively or even meet up with its expectations to the Niger Deltans.
As though that is not enough setback, to a beleaguered people, reports have it that the much talked about the forensic audit on the account of NDDC, from inception till date, is gradually becoming a reality, that paucity of funds has been programmed to frustrate the development of the region under Buhari, through the non-release of the 2020 budget details of the NDDC by the National Assembly.
The target could be to ensure that the commission engages in extra-budgetary spending, or rather, unbudgeted expenditure, so as to have a reason to nail the forensic audit report and make it stillborn.
This is because the key perpetrators of these shenanigans have concocted allegations against the Minister of Niger Delta Affairs saying that he is clearly being browbeaten into shielding his friends and associates, as well as cronies and fellow party men from being exposed by the audit, through the careful removal of files containing their shady deals and bloated cum unexecuted but fully paid projects, from the records of the commission, thus making it impossible for the forensic auditors to unmask the pillagers and looters for who they truly are. On the other hand, they expect that he should kill, completely, the whole idea of a forensic audit.
It will be a profanity of the anti-corruption stance which Mr President professes if this onslaught by people obviously determined to thwart the goodwill of Africa’s celebrated anti-corruption crusader towards the oil-rich Niger Delta region.
Those bent on frustrating the efforts of the Minister for the sake of hijacking the treasury of the commission to feather their nests towards the 2023 elections had succeeded in crippling the activities of the last interim management committee, under Prof Daniel K. Pondei while plotting a careful takeover of the affairs of the commission through a list of surrogates as members of the substantive board of directors, albeit illegal and skewed.
It may not be common knowledge for those who are ignorant of the behind-the-scene happenings at the commission that for over four months, the NDDC has had its accounts frozen and a lien placed on the said accounts, deliberately forcing the oil and gas companies to pay their statutory 3% and 5% commission into a special account named EFCC/NDDC instead of the NDDC account domiciled with the Central Bank of Nigeria (CBN).
While the yearly federal allocation dropped from N80 billion to N45 billion and exhausted within five months on payment of contractors, foreign scholarships amongst others; the commission became cash-strapped as a highly placed principal officer of the Nigerian Senate in active connivance with the longest-serving member of staff of the commission, wrote petitions to the EFCC and ICPC, forcing the anti-corruption agencies to move against the IMC.
In a rather unfortunate twist, instead of commencing investigations while allowing the commission to function, the EFCC has simply halted payment of contractors
Thus, there is an urgent need to address this impasse before it snowballs into a national embarrassment as the ex-agitators in the region have begun threats to stall the flow of oil through the pipelines. The damage to the economy cannot be imagined if the situation is not nipped in the bud.
Obiaruko Christie Ndukwe is the President of Citizens Quest for Truth Initiative, Abuja
By Isah Kamisu Madachi
The news that the Nigerian businessman, Aliko Dangote, plans to expand his business interest into steel production, electricity generation, and port development as part of his broader ambition to accelerate industrialisation in Africa deserves a quick reflection on the promises it carries for Nigeria. It is coming from Dangote at a time when many African countries, including Nigeria, are still struggling with below-average industrial capacity. This move speaks to something important about how prosperity is actually built.
In their Influential book ‘The Prosperity Paradox: How Innovation Can Lift Nations Out of Poverty,’ Clayton Christensen, Efosa Ojomo, and Karen Dillon argue that countries rarely overcome poverty through aid, policy declarations or resource endowments alone. According to them, the effective engine of prosperity has always been market-creating innovations by private and public enterprises that build new industries, generate jobs, and expand economic opportunities for ordinary people.
Even though their theory focuses largely on creating something new or producing it exceptionally, Dangote’s new industrial ambition seems closer to the latter. It is about producing essential things at a scale and efficiency that the existing system has failed to achieve.
Take, for example, the electricity sector in Nigeria. Since the beginning of the current Fourth Republic, billions of dollars have been allocated to power sector reforms, yet electricity supply remains unstable, and many Nigerians still depend heavily on generators to power their homes and businesses. The situation has continued to deteriorate despite the enormous resources committed to the sector by the coming of every new administration.
This is not surprising. In The Prosperity Paradox, the authors explain how nations and even international organisations sometimes keep investing huge resources in certain activities only to realise much later that they were simply hitting the wrong target. The problem is not always the lack of funding; sometimes it is the absence of a functioning market system capable of producing and distributing essential services efficiently.
Seen from this perspective, Dangote’s move into electricity generation may mean more than just an investment. It could be an attempt to tackle one of the most critically lingering bottlenecks in Nigeria’s economic development. If I were to be asked to decide which sector Dangote should begin with in this new industrial plan, I would unhesitatingly choose electricity. It is the most embattled, deeply corrupted and seemingly jeopardised beyond repair, yet the most important sector for the everyday life of citizens.
Stable electricity has the power to transform productivity across every sector. When power supply becomes reliable, small businesses are created, productivity is boosted across all sectors, and households enjoy a better quality of life. Nigeria’s long-standing energy poverty has been strangulating the productive potential of millions of people for decades. Fixing that problem alone would unlock enormous economic possibilities more than expected.
Beyond the issue of productivity, Dangote’s entry into these sectors could also stimulate competition. Healthy competition is one of the most effective drivers of efficiency in any economy. The example of the refinery project already shows how a large-scale private investment can disrupt long-standing structural weaknesses within a sector. A similar dynamic in the proposed sectors could encourage other investors to participate and expand industrial capacity.
Nigeria, by 2030, is projected to need 30 to 40 million new jobs to absorb its rapidly growing population. The scale of this challenge means that the government alone, especially in the Nigerian context, cannot create the necessary opportunities to fill this gap. Private enterprises will have to play a major role in expanding productive sectors of the economy. If supported by the right policy environment, they could contribute significantly to narrowing Nigeria’s widening job gap.
Of course, no single business initiative can solve all structural challenges in the economy. But bold investments of this nature often serve as catalysts for broader economic transformation. With the right support and healthy competition from other investors, initiatives like these could help push Nigeria closer to the kind of industrial foundation that many developed economies built decades ago.
In the end, the lesson is simple: prosperity rarely emerges from policy debates alone. It often begins with large-scale productive ventures that reshape markets, unlock productivity at both small-scale and large-scale businesses, and create direct and indirect economic opportunities for millions of common men and women.
Isah Kamisu Madachi is a policy analyst and development practitioner. He writes via is***************@***il.com
Weddings have always held a special place in African culture. They are more than ceremonies; they are declarations of love, family, identity, and tradition. From the vibrant colours of aso-ebi to the rhythmic sounds of live bands and the emotional exchange of vows, weddings represent a moment of cultural heritage.
In recent years, weddings have gone beyond physical venues. What was once an exclusive gathering for family and friends has transformed into a shared experience for wider audiences. Social media first opened the door, allowing guests and admirers to witness love stories in real time through Instagram posts, TikTok highlights, and YouTube recaps.
And now, television platforms are taking this even further, giving weddings a new kind of permanence and reach.
High-profile weddings, like the widely celebrated union of Adeyemi Idowu, popularly known as Yhemolee (Olowo Eko) and his wife Oyindamola, fondly known as ThayourB, captured massive public attention. Moments from their wedding became a live shared experience on television (GOtv & DStv).
From the high fashion statements to the emotional highlights, viewers were able to feel part of something bigger, a reminder that weddings inspire not just both families but entire communities.
This shift reflects a broader reality: weddings today are content. They inspire conversations about fashion, relationships, lifestyle, and aspiration. They preserve memories in ways previous generations could only imagine. For Gen Z couples, their wedding is no longer just a day; it becomes a story that can be revisited, celebrated, and even inspire others planning their own journey to forever.
Broadcast platforms like GOtv are playing a meaningful role in this transformation. By bringing wedding-related content directly into homes, GOtv is helping audiences experience these moments not just through social media snippets but in real time.
One of the most notable offerings is Channel 105, The Wedding Channel, Africa’s first 24-hour wedding channel, available on GOtv. The channel is fully dedicated to African weddings, lifestyle, and bridal fashion, showcasing everything from dream ceremonies to the realities of married life. Programs like Wedding Police and Wedding on a Budget, and shows like 5 Years Later, offer a deeper look into marriage itself, reminding viewers that weddings are just the beginning of a lifelong journey.
GOtv is preserving culture, celebrating love, and inspiring future couples with this channel. It allows viewers to witness traditions from different regions, discover new ideas, and feel connected to moments that might otherwise remain private.
With platforms like GOtv, stories continue to live on screens across Africa, where love, culture, and celebration can be experienced by all.
To upgrade, subscribe, or reconnect, download the MyGOtv App or dial *288#. For catch-up and on-the-go viewing, download the GOtv Stream App and enjoy your favourite shows anytime, anywhere.
Nigeria is entering a timing-sensitive macro set-up as the oil complex reprices disruption risk and the US dollar firms. Brent moved violently this week, settling at $77.74 on 02 March, up 6.68% on the day, after trading as high as $82.37 before settling around $78.07 on 3 March. For Nigeria, the immediate hook is the overlap with domestic policy: the Central Bank of Nigeria (CBN) has just cut its Monetary Policy Rate (MPR) by 50 basis points to 26.50%, whilst headline inflation is still 15.10% year on year in January.
“Investors often talk about Nigeria as an oil story, but the market response is frequently a timing story,” said David Barrett, Chief Executive Officer, EBC Financial Group (UK) Ltd. “When the pass-through clock runs ahead of the policy clock, inflation risk, and United States Dollar (USD) demand can show up before any oil benefit is felt in day-to-day liquidity.”
Policy and Pricing Regime Shift: One Shock, Different Clocks
EBC Financial Group (“EBC”) frames Nigeria’s current set-up as “policy-lag arbitrage”: the same external energy shock can hit domestic costs, FX liquidity, and monetary transmission on different timelines. A risk premium that begins in crude can quickly show up in delivered costs through freight and insurance, and EBC notes that downstream pressure has been visible in refined markets, with jet fuel and diesel cash premiums hitting multi-year highs.
Market Impact: Oil Support is Conditional, Pass-through is Not
EBC points out that higher crude is not automatically supportive of the naira in the short run because “oil buffer” depends on how quickly external receipts translate into market-clearing USD liquidity. Recent price action illustrates the sensitivity: the naira was quoted at 1,344 per dollar on the official market on 19 February, compared with 1,357 a week earlier, whilst street trading was cited around 1,385.
At the same time, Nigeria’s inflation channel can move quickly even during disinflation: headline inflation eased to 15.10% in January from 15.15% in December, and food inflation slowed to 8.89% from 10.84%, but energy-led transport and logistics costs can reintroduce pressure if the risk premium persists. EBC also points to a broader Nigeria-specific reality: the economy grew 4.07% year on year in 4Q25, with the oil sector expanding 6.79% and non-oil 3.99%, whilst average daily oil production slipped to 1.58 million bpd from 1.64 million bpd in 3Q25. That mix supports external-balance potential, but it also underscores why the domestic liquidity benefit can arrive with a lag.
Nigeria’s Buffer Looks Stronger, but It Does Not Eliminate Sequencing Risk
EBC sees that near-term external resilience is improving. The CBN Governor said gross external reserves rose to USD 50.45 billion as of 16 February 2026, equivalent to 9.68 months of import cover for goods and services. Even so, EBC views the market’s focus as pragmatic: in a risk-off tape, investors tend to price the order of transmission, not the eventual balance-of-payments benefit.
In the near term, EBC expects attention to rotate to scheduled energy and policy signposts that can confirm whether the current repricing is a short, violent adjustment or a more durable regime shift, including the U.S. Energy Information Administration (EIA) Short-Term Energy Outlook (10 March 2026), OPEC’s Monthly Oil Market Report (11 March 2026), and the U.S. Federal Reserve meeting (17 to 18 March 2026). On the domestic calendar, the CBN’s published schedule points to the next Monetary Policy Committee meeting on 19 to 20 May 2026.
Risk Frame: The Market Prices the Lag, Not the Headline
EBC cautions that outcomes are asymmetric. A rapid de-escalation could compress the crude risk premium quickly, but once freight, insurance, and hedging behaviour adjust, second-round effects can linger through inflation uncertainty and a more persistent USD bid.
“Oil can act as a shock absorber for Nigeria, but only when the liquidity channel is working,” Barrett added. “If USD conditions tighten first and domestic pass-through accelerates, the market prices the lag, not the headline oil price.”
Brent remains an anchor instrument for tracking this timing risk because it links energy-led inflation expectations, USD liquidity, and emerging-market risk appetite in one market. EBC Commodities offering provides access to Brent Crude Spot (XBRUSD) via its trading platform for following energy-driven macro volatility through a single instrument.
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