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NNPCL, 12 others failed to remit $9.85bn in 1yr – NEITI

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The Nigerian National Petroleum Company Limited (NNPCL) and 13 other agencies allegedly failed to remit $9.85 billion in revenue to the federation account in one year, the Nigeria Extractive Industries Transparency Initiative (NEITI) said yesterday. 

NEITI, in a 2021 Oil and Gas Industry Report, which audited the activities of 69 companies and the Nigeria Liquefied Natural Gas (NLNG), 13 government entities and one state-owned enterprise, NNPC, said the unremitted funds accounted for 8.47 per cent of the $23bn total revenue generated by the federal government during the year under…

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