NNPC Refuse To Remit $15.8bn To Federation Account – NEITI

Nigeria Extractive Industries Transparency Initiative (NEITI) says the Nigeria National Petroleum Corporation is withholding from the federal government, a sum of $15.8 billion belonging to the Nigeria Liquefied Natural Gas.

In an audit report for 2014, NEITI said NLNG paid $1.42 billion to NNPC as dividends, loan and interest repayments for 2014 but the amount could not be traced to the federation account.

According to the report, Nigeria earned $55.5 billion from the oil and gas sector and N55.82 billion from the solid minerals sector in 2014.

READ Statement below..

NEITI: Nigeria Earned $55.5 billion from Oil and Gas Sector in 2014