The House of
Representatives on
Thursday ordered another
round of investigation into
the sale of crude oil and
its remittances by the
Nigerian National
Petroleum Corporation to
the nation's account. The
focus of the fresh
investigation is “volume
and value of crude oil
sales and remittances” by
NNPC from January to
date.
“One of the areas of
concern is the
NNPC’s Joint
Venture
operations. There are
several billions of
dollars that are
unaccounted
for . Some JV
partners will come
before the committee
and give you
information that the
NNPC cannot
contradict.
“Now, when you
confront NNPC with
this information, they
don’t address the
issues at stake .
Reports from the
Auditor-General’s
Office have many
cases against the
NNPC. When this
investigation is being
conducted, I urge the
ad-hoc committee to
liaise with the Public
Accounts
Committee. We have
information we can
give to the
committee to assist
the investigation.”
These are the words of
the Chairman, House
Committee on Public
Affairs, Mr. Adeola
Olamilekan, said that the
issue of accounting for
crude oil sales by the
NNPC had been on for the
last seven years without a
solution.
The investigation, which
will last four weeks, is to
be conducted by an ad-
hoc committee of the
House.
The resolution of the
House followed a motion
moved by Haruna Manu,
who raised alarm that
about $13.9bn crude oil
revenue could not be
accounted for by the
NNPC.
Manu, who quoted from
statistics generated by the
NNPC, told the House that
the value for crude oil
sales from January to
August stood at $20.9bn.
He, however, said only
$7bn was remitted to the
Federation Account by the
corporation.
Manu added: “this shows
that $13.9bn is not
accounted for and it
raises questions about
how it was spent.”
He claimed that from
September to date, the
corporation had not given
any account of crude oil
sales.
Over the years, NNPC is
emerging as the easiest
corporate to steal
Nigeria's money on a
large scale.
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