Wednesday, 29 April 2015

Some Highlights Of The 200 Page NNPC Audit Report

Just downloaded mine, like most Nigerians, i had no plans to read the 200 page document before but Funke Phillips has encouraged me with her highlights. Some people managed NNPC like vampires sucking dry its prey, i think they believed they are immortal and President Jonathan will be there forever.
  • NNPC spent $18.53bn as operational costs without an approved budgetary allocation.
  • There was a difference of $980m in the payment of subsidies for PMS and DPK between Jan 2012 and July 2013 due to duplicated payments.
  • NNPC generated $28.22bn from domestic crude sales but remitted $15.99bn. This was between Jan 2012- July 2013
  • NNPC under-reported revenue to the FAAC to the tune of $3.6m
  • NNPC paid $250m to NPA but there are no documents to back this up.
  • There is a deficit of $2.34bn in revenue generated from the FG crude oil lifting between Jan 2012-July 2013. This money was not accounted for.
I'll try to study the document now and every every Nigerian who is of age and sound mind should also study the document. It's our business and responsibility to know as Nigerians 

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