Wednesday august 9 edition

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The

The Oracle SEPTEMBER 2, 2016

VOX POPULI SACRUM

racle www.oraclenews.ng

WEDNESDAY AUGUST 9, 2017

NNPC’s N3.85tn debt drains JVs’ output

ISSN: 2545-5869

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Today Today

VOL.2 No. 33. N200

From SOPURUCHI ONWUKA, Lagos

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UGE funding gaps in the nation’s oil and gas exploration and production joint ventures between government and a multiplicity of private companies form the primary cause of production decline in onshore petroleum assets. The funding deficits evolve from the inability of Nigerian National Petroleum Corporation (NNPC) to defray backlog of government’s equity financial contributions for its overriding 60 percent interest in the JV operations. Group Managing Director of the corporation, Dr. Maikanti Baru, admitted in a presentation delivered for him at the 2017 Nigerian Annual International Conference and Exhibition (NAICE) hosted by the Nigerian Council of Society of Petroleum Engineers (SPE) in Lagos that

NASS Darkens Nigeria Cont’d on Page 2

From TONY ALIEMEN (Abuja), CHUKS EZE (Enugu), COLLINS UGHALAA (Owerri), NATH OMAME (Port Harcourt), CHRIS EZE (Yenagoa), EMMA OGOIGBE (Warri) and JONATHAN AWANYI (Asaba)

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AST week’s repudiation, by the National Assembly, of structuring as a lifeline for Nigeria currently wracked by separatist forces threatening its sovereignty, has been described as the greatest setback to the country’s quest for nationhood since the end of the Civil War. In near unanimous but separate decisions, the Senate and the House of Representatives last week threw out a bill seeking devolution of more powers to the States as federating units. Essentially, the bill sought to increase items on the concurrent list to enable States deal with matters that were hitherto on the federal exclusive list, thereby reducing what has been described as “the overarching power of the Nigerian federal government.” But, taking a rather dim view of the increasing strife and agitations for self-determination in the polity, fuelled largely by belief that Nigeria’s political structure as presently constituted lacks the progressive features that should become of a modern State, the National Assembly shot down the bill, insisting that Nigeria as

it is at the moment is good enough. But, Chief Nathan Egba, former Commissioner for Information in Bayelsa State while commenting on the development said: “It is just unfortunate that they (Members of NASS) could not take this window of opportunity, especially against the backdrop of strident calls all over the country for restructuring and use this opportunity of constitution amendment to also work for the restructuring of the country, to do the right thing. “Most of all these clamours and agitations going on in the country would have perhaps been taken care of, you know in the process of restructuring.” As if to take it out on the State Chief Executives, NASS also shot down the provision on state police and voted in favour of local council autonomy. The State Governors voted for State Police but opposed local council autonomy. Indeed, in the midst of the shattered expectations of the times, Nigerians had hinged their future on a restructuring of the country to dismantle the strictures that hamper its growth and kindle the hopes of its peoples that a generation of Nigerians could take the country to great heights, if they cannot make it great. Incidentally, restructuring is a plat-

‘Biafra for Kanu, Oduduwa for us’ Page 2

form on which the ruling All Peoples Congress, APC, rode to power, selling the people on a future that would make Nigerians free to pursue their dreams with the active backing

of government policies that would, through economic, political, and social measures, offer them the facilities for the realisation of personal ambitions, for the good of Nigeria.

Igbos in Nigeria before Fulanis –Chekwas

All through last week, as the National Assembly commenced the amendment of the Constitution, the document majorly mentioned as the obstacle to the change Nigerians crave, most of the amendments have

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