News
The World Bank’s Criticism of NNPCL: A Call for Transparency and Accountability

The World Bank has raised serious concerns regarding the Nigerian National Petroleum Company Limited (NNPCL) in its recent **Accelerating Resource Mobilisation Reforms (ARMOR)** report. According to the report, dated May 17, 2024, the NNPCL has been accused of inconsistency and a lack of transparency in its financial disclosures to the Federal Account Allocation Committee (FAAC). This opacity is seen as a significant barrier to optimizing oil revenue flows to the federal government.
The World Bank’s critique emphasizes that NNPCL’s reports are often inconsistent and deficient in critical information. Specific gaps outlined include the absence of details on pledged revenues, the tradeable value of crude oil, and discrepancies in actual payments and global trade receipts. This lack of clarity undermines the ability of the Federal Ministry of Finance and FAAC to effectively assess NNPCL’s performance and its contribution to national revenue.
Furthermore, the report underscores the impact of reduced production and revenue on Nigeria’s fiscal stability. Despite a significant rise in global oil prices, net fiscal revenues from the oil sector have declined due to falling production rates and a burgeoning gasoline subsidy that has further strained the national budget. The NNPCL’s operations are governed by the Petroleum Industry Act (PIA) of 2021, which aims to impose more stringent regulatory frameworks; however, the execution of such regulations appears to be lacking.
A noteworthy example cited in the report is NNPCL’s commitment to supply 35,000 barrels of crude oil daily to the Dangote Refinery in exchange for a substantial equity stake. Although the projected contractual investments linked to these pledged oil revenues were estimated at $5.8 billion by the end of 2022, the actual revenues reported fell considerably short.
The World Bank’s findings indicate that Nigeria’s dependency on oil and gas revenues remains a significant source of fiscal vulnerability. The report calls for improved transparency and accountability from the NNPCL to enhance revenue generation and foster sustainable economic growth.
In summary, the World Bank’s criticism shines a spotlight on the urgent need for reform within NNPCL to ensure clarity in financial reporting. Without these changes, the future of Nigeria’s oil revenues, and by extension, the nation’s economic health, remains precarious.
Foreign
“Take It Down Act” Signed Into Law: Federal Protection Against Non-Consensual Image Sharing.

President Donald Trump has signed the “Take It Down Act” into law, criminalizing the non-consensual sharing of intimate images, including those generated by artificial intelligence. The legislation mandates the prompt removal of such content by digital platforms and carries a penalty of up to three years imprisonment for offenders.
The law garnered bipartisan support and addresses growing concerns surrounding the proliferation of deepfakes and non-consensual pornography. Platforms failing to remove flagged content within 48 hours face civil penalties. First Lady Melania Trump, a vocal supporter of the bill, attended the signing ceremony.
While praised as a significant step in protecting individuals from online exploitation, the law has also drawn criticism. The Electronic Frontier Foundation, for example, warns of potential for misuse, suggesting the legislation may grant excessive censorship powers and stifle lawful speech. Digital platforms are now mandated to implement rapid response systems for content removal upon receiving complaints.
News
2025 UTME: JAMB to Release Resit UTME Results Amidst Performance Concerns.

The Joint Admissions and Matriculation Board (JAMB) has announced the impending release of the results for the 379,000 candidates who participated in the rescheduled Unified Tertiary Matriculation Examination (UTME). This resit examination, conducted between Friday and Monday, followed widespread reports of technical and logistical challenges during the initial UTME administration, primarily impacting candidates in Lagos and the South-East.
JAMB acknowledged systemic lapses necessitating the resit, and Registrar Prof. Ishaq Oloyede publicly accepted responsibility for the disruptions. The release of these results comes amidst broader concerns regarding overall UTME performance, with a significant proportion of the 1.95 million candidates scoring below 200 out of 400. The Board’s spokesman, Fabian Benjamin, confirmed the results will be accessible on Wednesday. The public awaits these results with keen interest, anticipating insights into whether the resit effectively addressed the initial issues and improved candidate outcomes.
News
Mohammed Accuses Tinubu Administration of Regional Bias.

Controversial northern politician Hajiya Nàja’atu Mohammed has publicly accused President Bola Tinubu’s administration of prioritizing the development of the South-West region at the expense of national unity. Speaking on the Political Advantage Platform (PAP) podcast, Mohammed alleged that the government’s policies disproportionately favor the Yoruba ethnic group, asserting that the administration is “about Yorubas for Yorubas and by Yorubas.”
While claiming no personal animosity towards the President, Mohammed criticized Tinubu for allegedly focusing on regional development using national resources. She further attributed the current economic hardship to the government’s perceived disregard for the concerns of ordinary Nigerians, coupled with its reliance on external bodies for guidance.
Mohammed, a former member of Tinubu’s presidential campaign team, expressed disappointment with the administration’s performance, particularly in addressing insecurity and fulfilling the initial expectations surrounding Tinubu’s perceived experience as Governor of Lagos. Her statements raise significant questions regarding the perceived regional balance and national unity under the current administration.
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