…Oil, gas revenues drop to $24.8bn
By Michael Eboh
The Nigeria Extractive Industries Transparency Initiative, NEITI, yesterday accused the Nigerian National Petroleum, its downstream subsidiary, the Nigerian Petroleum Development Company, NPDC and other oil companies of failing to remit $3.78 billion and N80.64 billion to the Federation Account.
NEITI, in its 2015 Oil and Gas Industry Audit, released Friday, stated that the amount was for unpaid taxes, unremitted dividends of the Nigerian Liquefied Natural Gas Company, NLNG, unpaid liabilities from the controversial Offshore Processing Arrangement, OPA, outstanding liabilities with respect to oil and gas royalties and unremitted pipeline transportation fees, among others in 2015.
Specifically, the report disclosed that the NNPC failed to remit $1.07 billion, being NLNG 2015…
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