General
SERAP Tells Governors, Wike to Account For Trillions of FAAC Allocations
By Adedapo Adesanya
Socio-Economic Rights and Accountability Project (SERAP) has threatened legal action against the 36 state governors alongside the Minister of the Federal Capital Territory (FCT), Mr Nyesom Wike, if they fail to make public documents on the spending of trillions of the Federation Account Allocation Committee (FAAC) allocations received by their respective states and the FCT since 1999.
The group made the request via a statement issued by its Deputy Director, Mr Kolawole Oluwadare, who equally urged the governors and the FCT Minister “to invite the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and the Economic and Financial Crimes Commission (EFCC) to jointly track and monitor the spending of FAAC allocations by your state and the FCT and to probe any allegations of corruption linked to the allocations.”
The group’s request came sequel to reports that FAAC disbursed N1.123 trillion to the federal, state, and local governments for March 2024 alone and that states collected N398.689 billion.
SERAP, through its Freedom of Information (FoI) requests dated April 20, 2024, stated that, “Nigerians ought to know in what manner public funds including FAAC allocations, are spent.
“Without this information, Nigerians cannot follow the actions of their states and the FCT, and they cannot properly fulfil their responsibilities as citizens.
“Trillions of FAAC allocations received by Nigeria’s 36 states and the FCT have allegedly gone down the drain. The resulting human costs directly threaten the human rights of socially and economically vulnerable Nigerians.”
The FoI requests, read in part: “Ensuring that the FAAC allocations received by your state and the FCT are spent to achieve the security and welfare of Nigerians are serious and legitimate public interests.
“Secrecy in the spending of FAAC allocations received by your state and the FCT is entirely inconsistent and incompatible with the Nigerian Constitution 1999 (as amended) and the country’s international anti-corruption obligations.
“Secrecy in the spending of FAAC allocations received by your state and the FCT also denies Nigerians the right to know how public funds are spent. Transparen
cy in the spending would allow them to retain control over their government.”
“The documents should include the evidence and list of specific projects completed with the FAAC allocations collected, the locations of any such projects and completion reports of the projects.
“The documents should also include details of the salaries and pensions paid from the FAAC allocations collected, as well as the details of projects executed on hospitals and schools with the FAAC allocations.
“Despite the increased FAAC allocations to states and FCT, millions of residents in your state and the FCT continue to face extreme poverty and lack access to basic public goods and services.
“The reported removal of petrol subsidy and the floating of the exchange rate by the Federal Government has translated into increased FAAC allocations to states and the FCT. However, there is no corresponding improvement in the security and welfare of millions of Nigerians.”
SERAP added that “FAAC allocations received by your state and the FCT are reportedly characterized by mismanagement, diversion of funds, and abandoned projects. FAAC allocations have also been allegedly spent for other purposes such as election campaigns and political patronage.
“Publishing the documents on the spending of FAAC allocations by your state and the FCT would promote transparency, accountability, and reduce the risks of corruption in the spending of the funds.
“We would be grateful if the recommended measures are taken within 7 days of the receipt and/or publication of this letter.
“If we have not heard from you by then, SERAP shall consider appropriate legal actions to compel you and your state and the FCT to comply with our requests in the public interest.”
By Adedapo Adesanya
The Nigeria–China Strategic Partnership (NCSP) recently hosted a high-level delegation from Newryton International Industrial Development Company Limited, a leading Chinese investment and industrial development consortium, to advance discussions on deepening bilateral trade, industrial cooperation, and development financing between both countries.
The Newryton delegation, led by Mr David Chen, Assistant Secretary-General of the China Hainan Investment Council, had earlier engaged with the Nigerian Association of Commerce, Industry, Mines and Agriculture (NACCIMA). They were accompanied to the NCSP by Mr Joe Onyuike, Vice-Chairman of NACCIMA’s Agriculture and Livestock Trade Group, who conveyed NACCIMA’s support for the delegation’s engagements.
Discussions centered on the establishment of a Nigeria–China Trade and Investment Platform, including a proposed Promotion Centre in China to support Nigerian products, investors, and state governments.
The consortium also presented opportunities within Hainan Province’s Free Trade Port (FTP), which offers preferential policies that Nigerian businesses can leverage to expand exports and attract new investments.
In his address on behalf of Newryton, Mr Pong outlined plans to collaborate with NCSP in accessing FOCAC-supported financing for strategic investments in agriculture, energy, mining, solid minerals processing, and related sectors. The delegation identified aquaculture as a key area of interest and referenced the forthcoming Global Aquaculture Conference in Hainan Province, encouraging Nigerian stakeholders to participate.
They also expressed readiness to strengthen cooperation in vocational training and employment under the Belt and Road Initiative (BRI).
Welcoming the delegation on behalf of the Director-General, Martins Olajide, NCSP’s Head of Internal Operations, reaffirmed the organisation’s commitment to fostering mutually beneficial partnerships.
He highlighted NCSP’s strong interest in the proposed Nigeria–China Trade and Investment Platform and the development of the Nigerian Oil Palm Industrial Park as a flagship demonstration project.
Also speaking at the meeting, Ms Judy Melifonwu, NCSP’s Head of International Relations, underscored the opportunities presented by China’s zero-tariff policy and the forthcoming NAQS–GACC protocol on the export of Nigerian aquaculture products. She noted that these frameworks would significantly enhance Nigeria’s competitiveness in emerging global markets.
Both parties expressed commitment to advancing discussions toward a structured cooperation framework covering all priority areas.
By Adedapo Adesanya
The United Kingdom–Nigeria Infrastructure Advisory Facility (UKNIAF), established in 2019 as part of a 16-year legacy of UK-funded infrastructure support to Nigeria, convened over 100 senior stakeholders on Tuesday, December 2, to review its progress and formally close out its current phase of operations.
The event brought together representatives from federal and state governments, development partners, development finance institutions, and the private sector to reflect on UKNIAF’s work across the power, infrastructure finance, and roads sectors. Discussions focused on institutional reforms, capacity development, and the sustainability of tools and processes introduced over the past six years.
Since inception, UKNIAF has delivered targeted technical assistance designed to embed evidence-based reforms, data-driven decision-making, and improved institutional performance. Its interventions have mobilised significant financing, strengthened regulatory and planning systems, and enhanced investor readiness across multiple infrastructure markets.
In the power sector, participants highlighted landmark achievements including the development of Nigeria’s first Integrated Resource Plan, which outlines a least-cost and low-carbon pathway for expanding electricity supply. UKNIAF also supported the Nigerian Electricity Regulatory Commission (NERC) in building advanced real-time data capabilities for tariff monitoring, grid management, and outage tracking. The programme enabled pioneering states to establish their own electricity markets following constitutional reforms.
In infrastructure finance, UKNIAF was recognised for strengthening project preparation systems and enabling access to capital. Notable accomplishments include supporting the mobilisation of $75 million from the African Development Bank to the Special Agro-Industrial Processing Zone (SAPZ) programme in two states, and accelerating mini-grid and solar deployment through improved technical standards at the Rural Electrification Agency (REA).
UKNIAF also designed a national project preparation facility, for which N21 billion was allocated in both the 2024 and 2025 budgets to build a pipeline of bankable projects.
Speaking on this, Mr Frank Edozie, UKNIAF Team Lead, described the programme’s close-out as a “handover for sustained delivery,” emphasising that strengthened institutions now hold tools that make Nigeria’s infrastructure landscape more transparent, climate-smart, and investor-ready.
On his part, the Minister of Power, Mr Adebayo Adelabu, commended the programme, noting that its technical assistance and advisory services had helped lay the foundation for a sustainable and inclusive electricity supply industry.
Mrs Cynthia Rowe, Head of Development Corporation at the UK Foreign, Commonwealth and Development Office (FCDO) in Nigeria, praised the partnership, highlighting achievements ranging from state-level electricity market reforms to unlocking major financing and designing Nigeria’s Climate Change Fund.
Enugu State Secretary to the State Government, Professor Chidiebere Onyia, underscored the lasting influence of the programme, stating that UKNIAF’s impact continues through the expertise and leadership transferred to national and sub-national institutions.
The close-out event reaffirmed stakeholders’ commitment to sustaining tools, reforms, and knowledge products developed under UKNIAF, while strengthening collaboration among public, private, and development actors in the infrastructure ecosystem.
Participants included federal and state agencies such as the Nigeria Governors’ Forum, Federal Ministry of Power, Ministry of Finance, NERC, REA, and the Transmission Company of Nigeria, alongside development partners including the African Development Bank, World Bank, and IFC, as well as private sector and civil society stakeholders.
By Aduragbemi Omiyale
The gantry price of Premium Motor Spirit (PMS), otherwise known as petrol, has been slashed by the Dangote Petroleum Refinery.
The Lagos-based oil facility brought down the ex-depot price of the petroleum product by 15.58 per cent or N129 per litre to N828 per litre.
Though the company had yet to release an official statement on this development, real-time market data on Petroleumprice.ng on Friday showed the new price.
Punch reports that data from the platform also showed fresh reductions across several private depots following the refinery’s latest review.
Sigmund Depot cut its ex-depot price by N4 to N824 per litre, Bulk Strategic dropped its price by N3, and TechnoOil slashed its by N15.
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