According to the latest report of the Nigeria Extractive Industries Transparency Initiative, The Nigerian National Petroleum Corporation and its subsidiary, the Nigerian Petroleum Development Company, did not remit a total of $4.7bn and N318.2bn to the Federation Account in 2014.
“The NEITI 2014 audit reports show that a
total of $4.7bn and N318.2bn that should have gone to the Federation
Account were not remitted by NPDC and its parent company, NNPC,” the
firm said in its report released in Abuja on Friday.
It stated that losses from crude-for-product swap and Offshore Processing Arrangements were put at $198.7m in 2014.
Also, at the close of the 2014 audits, NPDC
had not paid the outstanding $1.7bn for the eight oil mining licences
under the Shell joint venture divested to it by NNPC.
0 comments:
Post a Comment