• Friday, December 01, 2023
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Reps blame NNPC for Nigeria’s huge budget deficit


  The House of Representatives has blamed the Nigerian National Petroleum Corporation (NNPC) for the huge budget deficit Nigeria has continued to suffer in recent times.

Speaking during the weekly briefing of the House, the chairman of the House Committee on Finance, Jibrin Abdulmumini, hinted that Nigeria’s deficit stands at over N1 trillion.

Abdulmumini, who reckoned that Nigeria could do better with internally generated revenue (IGR), disclosed that the chunk of money the country needs is lying with the ministries, departments and agencies (MDAs).

He lamented that while some agencies of the Federal Government have been complying with the relevant authorities by remitting a good percentage of their earnings to government’s account, the NNPC has never remitted a kobo to the Federal Government.

“NNPC has never, I repeat never remitted a kobo to the Federal Government. We calculated from 2009, and realised that NNPC generates over N6 trillion.”