Again, Senate summons NNPC over N4.07trn non-remittance - Uju Ayalogu's Blog for News, Reviews, Articles and More

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Monday 29 March 2021

Again, Senate summons NNPC over N4.07trn non-remittance

Again, Senate summons NNPC over N4.07trn non-remittance

The Senate Committee on Public Account has summoned the Nigerian National Petroleum Coporation (NNPC) for the second time, over non-remittance of N4.07 trillion to the Federation account between 2010 and 2016.

The committee also summoned Petroleum Products Pricing Regulatory (PPPRA) and Department of Petroleum Resources (DPR) in respect of the query of the Office of Auditor- General of the Federation against the agencies.

It further sustained the query of the Office of Auditor-General of the Federation against NNPC, DPR and Federal Inland Revenue Services (FIRS) over unauthorised deduc tion of N1.5 trillion from the Federation Account.

Only the Nigeria Customs Service remitted the fund generated to the Federation Account before deduction.

The NNPC had appeared before the Committee chaired by Senator Mathew Urhoghide last two weeks, during which it explained that the N4.07 trillion in question was spent on oil pipelines repairs, domestic fuel supplies which were heavily  subsidized, security and management matters.

The committee, however, asked the nation’s oil Corporation to furnish it with the required details within a week, upon which the query would either be vacated or sustained.

However, the Chairman of the Committee, Senator Matthew Urhoghide, reacting to the development, said that although the NNPC had submitted the required documents to  the Committee, the NNPC must still appear before the Panel to give oral evidence and defend some of the things in the document.

He insisted that the corporation should appear before the Committee this week Wednesday or latest Thursday, to make further clarification on the matter.

The Office of Auditor-General had said in its query: “it was observed from the examination of NNPC report to Technical Sub- Committee of  the Federation Account Allocation Committee meeting held in December 2016 that a cumulative total of N4,076,548,336,749.75 as summarized below and detailed in remained unremitted to the Federation Account by NNPC as at 31st December 2016.

“The total revenue unremitted as at 1st January 2016 (see the table above) from amounts payable into the Federation Account by NNPC was ₦3,878,955,039,855.73 was.”

 READ ALSO:    Audit shows N521 billion, $21 billion missing under Buhari: House of Reps


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