Latest audit report by the Nigeria
Extractive Industries and Transparency Initiative has accused the
Nigerian National Petroleum Corporation of not remitting $3.8bn and
N358.3bn to the Federation in 2013.
The Chairman of NEITI, Kayode Fayemi, disclosed this on Monday while presenting the 2013 audit reports of the agency in Abuja.
Citing the audit, Fayemi said some
revenues that should have gone to the Federation in 2013 were not made
or lost due to a number of reasons.
He said, “These revenues were broken
down as follows: Sum of $3.8bn and N358.3bn as outstanding revenues from
NNPC and its sub-units in 2013. These outstanding payments were due
from unpaid consideration from the divested OMLs (Oil Mining Liseases),
cash call refunds from NAPIMS (National Petroleum Investment Management
Services), and NPDC (Nigerian Petroleum Development Company) liftings
from NAOC JV (Nigerian Agip Oil Company Joint Venture), etc.
“Sum of $5.966bn and N20.4bn as revenue
losses to the Federation. These losses were due to offshore processing
agreement, crude swap, crude theft, etc. Sum of $599.8m as
under-assessments/under-payments of petroleum profit taxes and royalties
by oil and gas companies as a result of the use of different pricing
methodology by the government and the companies because of the absence
of a new fiscal regime.”
source: punch
Post a Comment