Nigeria lost out on tens of billions of dollars in oil and gas revenues over the last decade from cut price deals struck between some multinational oil companies and government officials, a confidential report says.

Nigeria is losing about $43million or N6.75billion daily to production cut back on account of recent flooding that hit many parts of the country, particularly, the oil-rich Niger Delta.

It was alleged, yesterday, that Southern Electricity Distribution Company, the consortium floated by four governors, to bid for the Benin Electricity Distribution Company, DISCO, cheated by submitting two bids during the commercial bid opening ceremony.

Basking in the euphoria of a historic re-election, Governor Segun Mimiko vowed, yesterday, to bequeath a legacy of good works across Ondo State after he was declared winner of last Saturday’s gubernatorial election.

Governor Segun Mimiko was on course for a historic re-election as governor of Ondo State after first results showed him dusting his two major opponents in polling results at the end of voting in the gubernatorial election conducted yesterday.

Ahead of the governorship elections holding in Ondo State today, and following allegations of planned violence, rigging and other electoral malpractices by contestants, Inspector General of police, Mohammed Abubakar has warned trouble makers, ballot box snatchers or riggers that they would have themselves to blame if the prevalent peace is not allowed to reign as his men are fully prepared for any eventuality.

THE Senate, yesterday, said that the Ministries, Departments and Agencies, MDAs of the Executive arm, have only implemented 30 per cent of the 2012 budget as against claims of slightly above 40 per cent implementation by the Presidency.

No fewer than 30 persons were feared dead in a fresh clash between Fulani herdsmen and native Tiv farmers in Yogbo, Guma Local Government Area of Benue State. This came as the Joint Task Force, JTF, confirmed, yesterday, that 24 sect members were killed in Monday’s spate of explosions and shootings in Maiduguri.

Another round of tension is building in the Bakassi Peninsula and Cross River State, following the decision by the Joint Technical Team on Bakassi Demarcation in conjunction with the National Boundary Commission, to undertake the final physical demarcation of the boundary between Nigeria and Cameroon.

The Coordinating Minister of the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, plans to spend N1,098,296,979 on sitting allowances and honorarium and another N43,515,655 on refreshment and meals next year.