• Tuesday, October 03, 2023
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NNPCL fails to remit $1.9billion to Federation Account in 2021

NNPC joins UN sustainability initiative

Nigeria’s state oil firm, Nigerian National Petroleum Corporation (NNPC) Limited, failed to remit $1.9bn to the government’s account at the end of 2021, NEITI says in its audit report for 2021.

Ogbonnaya Orji, head of NEITI at the unveiling of the report in Abuja on Monday, said the organisation discovered this information and felt it was “important that the public knows about it.”

Read also: GDP to get $3bn annual boost on NNPC gas deal

NEITI publishes a yearly audit of the oil, gas, and solid minerals sector. While the reports provide critical insights into the financial activities of the energy sector, they have been criticised for coming out too late for meaningful action to be taken against companies and government agencies, the report indicts.