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What has become of Nigeria’s recovered loots? Lawmakers investigate

Members of Nigeria’s lower legislative house may have began an inquest into how huge sums of money stolen from Nigeria but recovered and returned to the country is being managed

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Members of Nigeria’s lower legislative house may have began an inquest into how huge sums of money stolen from Nigeria but recovered and returned to the country is being managed. Speaker of the House of Representatives, Hon. Yakubu Dogara, gave an indication in this development recently.

Speaking at a public hearing by the House Joint Committee on Public Accounts and Finance on the need to ascertain the status of recovered Public funds and assets from 1999 to date, Dogara informed that lawmakers were bent on investigating the confusion that has trailed the exercise.

“It is common knowledge that there are a lot of conflicting reports and claims from various agencies of government concerning the status of the funds and assets recovered from some citizens and corporate entities by law enforcement agencies. As a Parliament, we cannot fold our arms and allow the confusion trailing the whereabouts of the recovered funds and assets to continue.

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This is why the House of Representatives resolved to mandate this Joint Committee to investigate the issue in the interest of accountability and transparency.”

He added, “We believe that as a Parliament, we owe the people of Nigeria the duty to ascertain the resources available to government and how they are being appropriated in their interest. This is in line with the exercise of our Constitutional powers in Sections 88 and 89 of the Nigerian Constitution, 1999 as amended.”

The total value of recovered funds and assets is estimated at $2trillion and the House has also mandated its Committee on Financial Crimes to investigate whether any crimes have been committed in the course of the management and disbursement of funds recovered by the Federal Government in the last 12 years.

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São Tomé and Principe to demand reparations from Portugal

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The education and cultural minister of Sao Tome and Principe, an African island nation, announced on Thursday that the government would like Portugal to make up for the moral harm done by colonization.

The Sao Tome and Principe administration will draft and open a new tab for a plan to discuss compensation with Portugal, Minister Isabel Abreu said in a statement to Portugal’s Lusa news agency, adding that the process would take time.

According to Abreu, the topic will be covered at Thursday’s cabinet meeting. The request follows Portugal’s President Marcelo Rebelo de Sousa’s assertion last week, when questioned by Reuters, that his nation was accountable for atrocities done during the colonial era and transatlantic slavery and that reparations were necessary.

His remarks provoked harsh criticism from right-wing parties and a national conversation. The centre-right Portuguese government, which holds administrative authority, declared that it will not start the process of making reparations payments, in contrast to Rebelo de Sousa’s remarks, which were conservative in the first place. Rather, it demanded reconciliation.

For more than 400 years, Portuguese ships abducted around 6 million Africans, forced them across the Atlantic, and sold them into slavery, mostly in Brazil.

Two weeks ago, United Nations High Commissioner for Human Rights Volker Turk said in an address at the closing of the four-day U.N. Permanent Forum on People of African Descent (PFPAD), called on countries to take real steps toward reparations for people of African descent. He appealed while adding his voice to calls for justice for the horrible crimes committed during slavery.

During the Portuguese colonial era, Portugal ruled over nations including Angola, Mozambique, Brazil, Cape Verde, Sao Tome and Principe, East Timor, and certain Asian provinces.

Also reacting to Rebelo de Sousa’s comments, Mozambique’s ambassador to the United Nations welcomed the remarks and said that confronting the past was “already reparatory” but that it “would be even better if we could go beyond that”.

Cape Verde’s President Jose Maria Neves said on Monday there was a need for discussions to “reach an understanding and consensus on these matters”.

Anielle Franco, Brazil’s Minister of Racial Equality, informed news outlet G1 that her staff was speaking with the Portuguese authorities about the matter.

Among other reasons, reparations opponents contend that modern states and organizations shouldn’t be held accountable for slavery in the past. Advocates argue that states today continue to profit from the wealth created by hundreds of years of labor without compensation, and that action is necessary to redress the legacy of slavery on underprivileged populations.

Although it is still hotly debated, the idea of making additional amends or paying reparations for transatlantic slavery has been gaining traction globally. Reparations were required, according to UN Secretary-General Antonio Guterres, last month to end “generations of discrimination”.

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Nigeria’s Dangote refinery set to get valid operating licence

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The Nigerian government has revealed that the 650,000 barrels per day Dangote Petroleum Refinery will soon receive a full operating licence.

This was declared during the Nigerian Midstream and Downstream Petroleum Regulatory Authority’s Stakeholders’ Consultation Forum on Midstream and Petroleum Host Community Development Trust Regulations in Abuja.

However, the federal government’s NMDPRA clarified that although it had given the $20 billion refinery a pre-commissioning license, the Dangote refinery would shortly receive a fully operational license.

Former President Muhammadu Buhari opened the Dangote refinery in May 2023. In April of this year, the plant began supplying automotive gas oil, sometimes known as diesel, to the domestic market. Premium Motor Spirit, or petrol, has not yet been released.

NMDPRA Chief Executive Farouk Ahmed assured industry participants and other stakeholders during his speech at the summit in Abuja on Tuesday that the refinery would receive a fully operational license from the authority very soon.

Ahmed noted that just three refineries now have legal licenses. Ogbugo Ukoha, Executive Director of distribution Systems, Storage and Retailing Infrastructure, NMDPRA, represented him.

“We have issued three refineries with three valid licences. We awarded to Dangote refinery even in their pre-commissioning and sooner than later they will have full commission and a valid licence also to operate,” he stated.

He added that more licenses are being processed for approximately 15 gas facilities nationwide, out of the total number. As per the NMDPRA chief, 1,199 downstream facilities have valid licenses, and over 176 operators are authorized to import gas.

According to the head of NMDPRA, over 176 operators have gas import permits, while 1,199 downstream facilities have valid licenses. As of 10 a.m. on April 30, 2024, NMDPRA had licensed 9,464 retail shops. He also stated that 130 depots and 69 coastal vessel licenses were in effect.

“In the gas processing facility within the midstream, there are about 15 of them with valid licences. And much is under processing.  If you go to the downstream sector, in the gas state of the downstream, more than 1,199 facilities have NMDPRA valid licences.

“More than 176 operators hold gas import permits. In the liquid licensing side of the downstream, there are 130 depots with valid licences and coastal vessels of more than 69 valid licences as of today. And in the retail outlets, we have 9,464 licensed retail outlets as of 10 am today, April 30,” Ahmed stated.

Nigeria is the largest oil producer in Africa, yet it frequently faces fuel shortages. It imports roughly 33 million litres of petroleum products per day and spent $23.3 billion last year. None of Nigeria’s publicly owned refineries has worked to capacity for years, despite several investments to revive them. The failure of both the previous and current governments has contributed to the high level of national anticipation surrounding the Dangote refinery.

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