ABUJA – By Olusegun Lawrence Piqued by a revelation that a whopping N1 trillion is missing in the Nigerian National Petroleum Corporation’s coffers, the Senate on Thursday, resolved to summon the Executive Secretary of Nigerian Extractive Industries Transparency Initiative (NEITI), Waziri Adio.
NEITI had while presenting its audit report recently, alleged that the NNPC did not remit 12.9 billion dollars, about N1 trillion between 2005 and 2013.
Sponsoring a motion, sponsored by Senator Tijani Yahaya Kaura, said that the details from the 2013 audit and financial report of activities in Nigeria’s oil and gas industry shows that Nigeria made $58.07 billion from its hydrocarbons industry during the year under review.
The audit covered 41 oil and gas producing companies and sixteen government agencies.
According to the report, a total of N1.3 trillion was processed as petrol subsidy payments for NNPC and other oil marketers in 2013.
”The sum of $3.8 billion and N358.3 billion stands as outstanding revenues from the NNPC and its subsidiaries in 2013.
”These outstanding payments were dues from unpaid consideration from divested oil mining leases from NNPC to NPDC and cash call refunds by National Petroleum Investment and Management Services (NAPIMS).
”The Senate is disturbed that between 2005 and2013, the sum of $12.9 billion paid by the Nigerian Liquefied Natural Gas (NLNG) to NNPC was not remitted to the federation account.”
Senate President Bukola Saraki, remarked that the findings contained in the report could not be ignored.
