The PUNCH has for long asserted that the company is so steeped in its wayward ways that it is unreformable.
The Nigerian National Petroleum Company Limited is once again at the centre of a storm. In the space of a week, a parliamentary probe unearthed more details on its blurry operations; a state governor stunningly alleged that the last administration wasted $19 billion on the moribund refineries, and a public revenue agency accused it of withholding trillions from the national treasury.
The NNPC’s “killer” mode was again highlighted by a House of Representatives’ committee that accused it of failing to transfer N2 trillion to the FA after the PIA came into effect in 2021. Former President Muhammadu Buhari unveiled a company worth $64 billion , but only $58.8 billion, or N26 trillion was allegedly transferred.
The NNPC claims to have withheld the sum as “under-recovery” . As the sole importer of petrol for years, the NNPC determined the quantity consumed daily and the “under-recovery” it paid itself. Thankfully, Tinubu is ending that travesty.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
We're no longer sole supplier of petrol, says NNPC | TheCableThe Nigerian National Petroleum Company (NNPC) Limited says it is no longer the sole supplier of petrol across the country.
Read more »
NMDPRA issues oil export terminal licences to NNPC, Belema Oil | TheCableThe Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has issued and signed licences for the establishment of two crude oil export terminals.
Read more »
Agbakoba Urges President Tinubu To ‘Dismantle’ Nigeria’s Electoral Body, INEC | Sahara ReportersA former President of the Nigerian Bar Association (NBA), Olisa Agbakoba (SAN), has called on President Bola Tinubu to dismantle the country’s electoral body, Independent National Electoral Commission (INEC). The senior lawyer stated this in a Twitter post on Thursday. Agbakoba, however, commended Tinubu’s administration over the recent suspension of the governor of the Central Bank of Nigeria, Mr Godwin Emefiele and the Chairman of the Economic Financial Crime Commission (EFCC).
Read more »
We're no longer sole supplier of petrol, says NNPC | TheCableThe Nigerian National Petroleum Company (NNPC) Limited says it is no longer the sole supplier of petrol across the country.
Read more »
NMDPRA issues oil export terminal licences to NNPC, Belema Oil | TheCableThe Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has issued and signed licences for the establishment of two crude oil export terminals.
Read more »
Air Peace boss Allen Onyema says Nigeria Air is 'charade'The Chief Executive Officer (CEO) and Chairman of Air Peace, Allen Onyema has called on President Bola Tinubu to immediately dissolve the highly controversial Nigeria Air.
Read more »