The Nigeria Extractive Industries Transparency Initiative (NEITI) has said that the Nigerian National Petroleum Corporation (NNPC) is yet to remit $15.8 billion collected from Nigeria Liquefied Natural Gas (LNG) to the Federation Account, in spite of a report submitted to the Presidency.
NEITI’s Legal Director, Peter Ogbobine, told the News Agency of Nigeria (NAN), in Abuja, yesterday, that the figure was accumulation from 2000 to 2014. He said although NEITI had presented a report to that effect to the Federal Government, no action had been taken against NNPC.
“When LNG started operating, it paid dividends to NNPC but the corporation claimed it was supposed to be the owner of the shares in LNG and not the government.When the LNG paid the money to the NNPC, it used some of it to run its operations. But, we are saying no; this money, should go straight to the Federation Account…”
and it has been accumulating over the years.
“ We always bring it to the burner anywhere we go, that this money has to be remitted to the federation account,’’ Ogbobine said.