State oil firm Nigerian National Petroleum Corp. failed to remit Naira 3.2 trillion ($16.2 billion) in proceeds from the sale of crude oil into the government account in 2014, local media reported Auditor-General Samuel Ukura as saying Tuesday.
A further $235.68 million from the proceeds of gas feedstock sales to Nigeria LNG Ltd., owners of the six train Bonny LNG plant, was not paid to the Federation Account and instead transferred to undisclosed Escrow accounts, Punch newspaper reported Ukura as saying in an audit.
A spokesman for the NNPC said the corporation was studying the report.
“It is an audit report and we are still studying before making our position known,” he said.
“It is an audit report and we are still studying before making our position known,” he said.
NLNG declined comment.
NNPC, which manages the Nigerian government’s average 57% interests in joint venture oil operations with foreign oil companies, exports Nigeria’s share of the crude oil produced, which totals around 1.6 million b/d.
The corporation also handles 450,000 b/d of crude for domestic consumption. It refines a small fraction locally and exports a larger share, either swapping it for oil products or offshore processing into petroleum products.
The Auditor General’s report covered the same time period that former central bank governor Lamido Sanusi said NNPC had failed to remit to government coffers $20 billion in oil exports proceeds.
Leading audit firm PricewaterhouseCoopers, contracted by the former administration of Goodluck Jonathan to investigate the claim, absolved NNPC of culpability over that allegation. Jonathan later fired Sanusi.
Jonathan’s successor Muhammadu Buhari has made the clean-up of Nigeria’s oil industry, and NNPC in particular, of corruption his top priority.
As part of the clean-up, he has ordered the termination of crude swap for oil products deals and offshore processing agreements and approved a major reorganization of the NNPC.
Junior petroleum minister Emmanuel Kachikwu last week announced the creation of five key business units in NNPC as part of the reorganization of the company.
Sunnewsonline
No be the same tin wey former CBN governor talk?
Omo c end time bleeding or na menstruation of nnpc
ReplyDeleteWe need fuel jare. Queue still plenty outside. we dont need much talk. My own they should make fuel available for people to buy
ReplyDeleteThis country needs cleansing.
ReplyDeleteHmmmmmm. That's how this refinery guy's will be using our Nigerian money to intimidate ladies. Mr N and Co, EFCC will soon come for u guys
ReplyDeleteGood to know
ReplyDeleteSanusi is vindicated, it's time the present administration invite Jonathan for questioning with all the looting and arrest happening daily. Atleast,he one way or the other know/approve 60% of the looted funds. We need to start holding our leaders accountable irrespective of tribe or religion.
ReplyDeleteShut up your dirty mouth. Trying to justify your low level of reasoning. Who is sanusi, that paedophile. Hold your buhari responsible for his own while he was petroleum minister and former president. You are trying to hard to give excuses and hope for this failed government. Shut up once again. Idiot.
Delete@anonymous are you done? Have you eaten for days? I see a hungry soul ranting without sense. May God heal your broken heart and provide you with meal today. Say Amen? Meanwhile revisit my case when you are healed. Aturuhausa.
DeleteI wonder how some Nigerians like yourself @ anon 11: 56 reason, this issue concerns all of us and our common wealth but because of sentiments we want issues of the Embezzlement of our common wealth swept under the rug, what a shame!
DeleteAnd the anonymous failed at trying to bully Jay. Lmaooo!!
DeleteStupid Jaymoore, GEJ will never be questioned, quote me any where. How has this vindicated Sanusi? Is GEJ GMD nnpc?
ReplyDeleteHear yourself dickhead @anonymous 10.35, who employed GMD? Without Jonathan's approval would GMD be approved? Was Deizani not part of Jona kitchen cabinet? Your dickhead could not tell you that most decision in the industry goes from the GMD to Deizani then finally to Jonathan. No decision taken in the industry without the minster or president's approval. Do you think Kachukwu will take any decision in NNPC without PMB knowledge? We are talking about billions stolen that will benefit our country you are displaying your stupidity due to sentiment. The problem is some of you rachet being that are quick to insult others are the ones suffering more in the country the most.
DeleteIf you disagree with people's comment make a robust response without dishing out abuses.
My motto is,if you come for me with your stupidity i push back your stupidity down to you. Cheers.
Chop knuckle @ jay moore.
DeleteNnpc and their Brouhaha...
ReplyDeleteWhatever
Am out.
Stupid young people today.The money for your roads,schools,hospitals,security.And you don't even have the sense to feel cheated?
ReplyDelete