NNPC Spent N1.1tr On Subsidy, Oil Exploration, FAAC Remittance In 7 Months - Newstrends
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NNPC Spent N1.1tr On Subsidy, Oil Exploration, FAAC Remittance In 7 Months

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The Nigerian National Petroleum Corporation (NNPC) spent N1.165 trillion to subsidize petrol, for oil exploration and remittance to the Federation Account Allocation Committee (FAAC) in seven months of this year.

According to NNPC monthly FAAC report for September, the three expenditure items gulped 57 per cent of the total revenue distribution of N2.043 trillion done by the national oil company in the first eight months of 2021. The balance of N878bn was distributed for other expenditures including crude oil lifting inspection expenses.

On subsidy which NNPC describes as under-recovery of Premium Motor Spirit (PMS) value shortfall, the corporation spent N714.791bn within seven months, from February to August.

 

While there was no subsidy spent in January, NNPC spent N25.37bn in February and that figure rose by nearly three times in March to N60.396bn. The corporation then spent N61.966bn in April which more than doubled to N126.298bn in May, following a reported higher rise in the landing cost of imported petrol.

 

The national oil company further incurred a higher cost in petrol subsidy of N164.337bn in June but declined to N103.286bn by July; however, by August, the gain was reversed when subsidy cost rose to N173.132bn, the highest figure published so far.

 

The Minister of State, Petroleum Resources, Timipre Sylva, has continually reiterated that the government was committed to ensuring the total removal of subsidy from next year especially with the implementation of the Petroleum Industry Act (PIA) as Nigerians await the impact of the decision.

 

Frontier exploration gulps N20bn

 

NNPC also spent N20.681bn on frontier oil exploration in seven months with the highest expenditure done in August. While it spent N1.964bn on exploration activities in January, the bill slightly dropped to N1.920 in February but rose to N2.250bn in March. There was no expenditure on oil exploration in April but the figure rose to N3.216bn in May, and dropping to N2.715bn in June. While oil exploration expenses dropped to N2.443bn in July, it rose by three times in August to N6.167bn.

 

This expenditure on oil exploration is being made at a time when global leaders are shifting from the use of fossil fuel to renewable and clean energy. However, Sylva recently said Nigeria will gradually lead its energy transition by focusing on gas exploration towards reaching a cleaner energy goal.

 

More so, in the recently signed PIA, 30 per cent of oil proceeds has been pegged for oil exploration activities at the frontier basins with concerns that these activities are concentrated in the north.

 

However, the Governor of Nasarawa State, Engr. Abdullahi Sule, at an oil and gas union gathering last week in Abuja, clarified this misconception saying what refers to as frontier encompasses all new exploration areas including the Niger Delta, with the Benue Trough exploration reaching Calabar, the Cross River State capital. He also said it includes the Benin Basin and some undeveloped offshore areas in the South-South.

 

FAAC gets N429bn in 7 months

 

The corporation also remitted N429.284bn oil proceeds to the FAAC for seven months during the period as it skipped remittance in April.

 

The breakdown of the remittance shows that NNPC remitted N90.860bn in January, but that dropped to N64.161bn in February, and further depleted to N41.184bn in March 2021.

 

There was no remittance in April which was said to have gone for subsidizing petrol pump price per litre to keep it at the 162 to N165 price band.

 

By May, the remittance to FAAC dropped to N38.608bn but rose significantly to N47.162bn in June and higher to N67.280bn in July before climaxing at N80.030bn in August.

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Google Expands AI Search to Include Yorùbá, Hausa Languages in Nigeria

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Google Expands AI Search to Include Yorùbá, Hausa Languages in Nigeria

Google Expands AI Search to Include Yorùbá, Hausa Languages in Nigeria

Google has expanded its AI‑powered Search features to support Nigeria’s Yorùbá and Hausa languages, enabling millions of users to interact with AI Search in their mother tongues. The update allows Nigerians to ask complex questions, either by typing or using voice input, and receive AI-generated summaries, insights, and conversational responses in their preferred language.

Taiwo Kola-Ogunlade, Communications and Public Affairs Manager for West Africa at Google, said the rollout is part of the company’s broader effort to make AI more inclusive across Africa. He explained that the system goes beyond simple translation, using advanced language understanding to provide contextually relevant and culturally grounded answers.

“This development ensures Nigerians can converse with search in their local languages, making information more useful and accessible to everyone,” Kola-Ogunlade said. He highlighted that a student in Kano can ask questions in Hausa, while a trader in Ibadan can seek business insights in Yorùbá, demonstrating the practical impact of the update.

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The expansion brings the total number of African languages supported by Google’s AI Search features to 13, including Kiswahili, Wolof, Amharic, isiZulu, and Afrikaans, among others. Users can access the feature via the Google app on Android or iOS or through the web version of Search by selecting AI Mode and entering queries in Yorùbá or Hausa.

Experts say the update addresses the digital language divide in Nigeria and across Africa, helping users who are more comfortable in their native languages access AI tools for learning, research, business, and daily problem-solving. It also supports digital inclusion, empowering more people to participate in the AI-driven online economy.

The initiative aligns with Google’s global mission to make information universally accessible and useful, reflecting a growing emphasis on local language AI technologies in Africa.

Google Expands AI Search to Include Yorùbá, Hausa Languages in Nigeria

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FG Approves Medical Fellowships as PhD Equivalent in Nigerian Universities

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Federal Executive Council (FEC)
Federal Executive Council (FEC)

FG Approves Medical Fellowships as PhD Equivalent in Nigerian Universities

The Federal Government of Nigeria has approved a landmark policy recognising medical fellowship qualifications as equivalent to a Doctor of Philosophy (PhD) degree for medical professionals pursuing academic careers in universities. The decision, taken by the Federal Executive Council (FEC) under President Bola Ahmed Tinubu, was announced by the Minister of Education, Dr Tunji Alausa, following a Council meeting at the Presidential Villa, Abuja.

This policy means that medical doctors with recognised fellowships from accredited institutions such as the National Postgraduate Medical College of Nigeria (NPMCN) and the West African College of Physicians (WACP) can now advance in academia without needing a separate PhD. The move aims to align Nigeria’s academic system with global standards, recognising the rigorous clinical practice, research, and academic work involved in fellowship training.

For years, Nigerian universities and professional bodies debated whether fellowship qualifications should substitute for a PhD in attaining senior academic ranks such as senior lecturer, associate professor, or professor. Many institutions, guided by National Universities Commission (NUC) regulations, required a PhD for promotion, even for experienced clinicians. The new policy resolves this long-standing issue, allowing medical specialists to focus on teaching, research, and clinical service without additional academic barriers.

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Benefits for Medical Education and Career Progression

Experts believe the policy will significantly improve the career prospects of clinician-lecturers, many of whom previously struggled to pursue PhD programmes due to the demanding nature of residency and fellowship training. Recognising fellowships as equivalent to a PhD will encourage more specialists to engage in academic research, enhance medical education quality, and ensure experienced clinicians can occupy senior academic positions while contributing to healthcare delivery.

The policy also forms part of broader federal education reforms, including a six-year moratorium on new tertiary institutions and revitalisation of the National Commission for Mass Literacy, Adult and Non-Formal Education (NMEC). These measures aim to improve academic standards, address workforce gaps in universities, and ensure professional training systems in Nigeria meet international best practices.

Education stakeholders have welcomed the development, describing it as a major step toward resolving structural challenges in medical education and supporting the growth of a performance-driven, quality-focused university system.

FG Approves Medical Fellowships as PhD Equivalent in Nigerian Universities

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FEC Approves 100% Gratuity for Retiring Federal Civil Servants

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pensioners

FEC Approves 100% Gratuity for Retiring Federal Civil Servants

The Federal Executive Council (FEC) has approved a groundbreaking Exit Benefit Scheme that will grant retiring federal civil servants a gratuity equivalent to 100% of their total annual salary and allowances. The initiative aims to strengthen welfare and retirement security within the Nigerian civil service.

The policy, which takes effect from January 1, 2026, will benefit federal employees who have served the government for at least ten years before retirement. The scheme was announced in a statement released on Thursday by the Office of the Head of the Civil Service of the Federation in Abuja.

The new scheme marks a significant policy shift designed to enhance retirement benefits for civil servants operating under the Contributory Pension Scheme, which was introduced in 2004.

Eligible federal civil servants will receive a one-time gratuity payment equivalent to their full annual salary and allowances upon retirement, in addition to their pension benefits. Officials say the measure is intended to provide a stronger financial safety net for retirees, ensuring that civil servants who dedicate their careers to public service can retire with dignity and financial stability.

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The scheme will apply to workers in Treasury-funded Ministries, Departments, and Agencies (MDAs) across the federal government. The policy was developed after extensive deliberations and technical work by an inter-ministerial committee established by the Office of the Head of the Civil Service of the Federation. The committee collaborated with key institutions, including the National Pension Commission, the Budget Office of the Federation, and the Office of the Accountant-General of the Federation, to create a sustainable framework for implementation.

Historic Milestone for Civil Service Reform

Reacting to the approval, the Head of the Civil Service of the Federation, Didi Esther Walson-Jack, described the decision as a historic milestone in the ongoing reform of the federal civil service. She noted that the new scheme demonstrates the commitment of the administration of President Bola Ahmed Tinubu to recognizing the dedication and sacrifices of public servants.

“This approval is a profound acknowledgment of the invaluable contributions of our civil servants who have devoted their productive years to public service and national development,” Walson-Jack said. She added that the initiative will significantly enhance the retirement package available to federal civil servants and strengthen confidence in government policies designed to improve workers’ welfare. Detailed guidelines for the scheme’s implementation will soon be issued to guide ministries, departments, and agencies.

Reform After More Than Two Decades

The introduction of the Exit Benefit Scheme represents the first major gratuity provision for federal civil servants since the launch of the contributory pension system over twenty years ago. Analysts believe the new policy will address long-standing concerns about retirement security among government workers and boost morale within the federal civil service.

Officials highlight that the scheme aligns with broader civil service reforms aimed at creating a more motivated, performance-driven, and people-centered public service, capable of supporting Nigeria’s national development goals. The initiative underscores the government’s commitment to ensuring that civil servants who dedicate their careers to public service are adequately rewarded upon retirement.

FEC Approves 100% Gratuity for Retiring Federal Civil Servants

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