..as activist says NNPCL has lot of explaining to do,.
After 18 months of non remittance of revenue to the Federal Government, the Nigerian National Petroleum Company Limited NNPCL remits N123 billion into the Federation account
Reports say the money was paid into the Federation account on Thursday, July 20,2023.
According to the Accountant General of the Federation,Dr Oluwatoyin Madein, the money remitted was part of the N907billion shared by the Federation Account Allocation Committee ( FAAC).
The NNPCL under the Mele Kyari leadership had for 18 months failed to remit revenue to the Federated account citing challenges in fuel subsidy payments and being owed by the Federal Government.
Kyari had lamented that the NNPCL was paying up to N400billon monthly in fuel subsidy payments.
Kyari,in an interview on Channels Television in February said that the NNPCL,instead of remitting money supposed to receive monthly allowances from the Federal Ministry of Finance to sort out fuel subsidies.
However,in a quick move during his inauguration, President Tinubu noting the hardship the fuel subsidy regime would continue to have on innocent citizens and the treachery of the agents of subsidy on the Nigerian state, announced the end of the subsidy regime.
The president went further to set up an inter – agency committee to investigate the company’s failure to remit monies into the federation account.
Barely six weeks after ,the NNPCL has paid in N123 bn to the Federation account making the Federal Government,states and local government to have a bumper harvest of allocation in the month of July.
The NNPCL claimed that the money it remitted was part of savings it made since the end of the subsidy regime in May.
So where is the balance of N277billion from the N400 billion used monthly to offset subsidy payment, Inembo,a Niger Delta activist queried.
Speaking with current matters late Saturday, the activist who claimed to be from one of the crude oil producing states in the South South geopolitical zone said ” there’s a lot that meets the eye”
He said” Kyari and his team have a lot of explaining to do”
” if the NNPCL committed N400 billion to pay for subsidies on a monthly basis in the past 18 months and they just began to pay N123billion as revenue, where is the balance of N277 billion?
According to him, a lot of people entrusted with the responsibility of overseeing our key national revenue sources have jettisoned the fundamentals of trust which includes credibility, reliability and protection of National assets and called on the president to appoint persons with untainted character in his drive to reposition the country.
