June 23, 2024
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OIL & GAS

17.877 Million Barrels: NNPC Ltd Says Proceeds is Accounted for.

The Nigerian National Petroleum Company Limited, NNPCL,  said the crude oil lifted between 2016-2020 were adequately accounted for where the proceed were paid into the Federation Account. 

This was stated in a statement by the company Chief Communication Officer Dr. Garba Deen Muhammad. He said the online publication in which it alleged that the exported crude by NNPC Limited to the tune of 17.877 million barrels between 2016-2020 without proper documentation was a story full of palacies.

Dr. Deen added that the Auditor General’s report highlighted that 32 oil marketing companies were involved in the non-completion of the NXP forms. The report further noted that the non-completion of the forms does not mean the proceeds from the sale were not remitted to the Federation Account.

The Chief Communication Officer further clarified that NNPC Limited does not appoint Inspection Agent as alleged, instead it is the sole responsibility of the Ministry of Finance.

He therefore called on the general public to disregard the malicious publication which aimed at misguiding the general public.

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