In the last three years, the Nigerian National Petroleum Corporation (NNPC) withheld and spent N3.7 trillion oil revenue with out budgetary provision and approval.
Adams Oshiomhole, the governor of Edo state Adams Oshiomhole, the governor of Edo state, disclosed this after the National Economic Council meeting, which was held at the presidential villa in Abuja.
The governor said that out of N8.1 trillion generated from the oil sales during the period only N4.3 trillion was remitted to the federation account.
Oshiomhole also disclosed that Ngozi Okonjo- Iweala, the former minister of finance, spent $2 billion from the Excess Crude Account between November 2014 and May 2015 with out approval.
READ ALSO: President Buhari’s Full Speech At The NEC Inauguration
“This is the first time we had a National Economic Council meeting in which under the instructions of the president, NNPC and the office of the accountant general of the federation was compelled to provide information in black and white on issues as it relates to the total sales of Nigeria crude from 2012 to May 2015.
This never happened before.
“What we saw from those numbers, which I believe Nigerians are entitled to know, is that where as the NNPC claimed to have earned about N8.1 trillion, what NNPC paid into the federation account between 2012 and May 2015 was N4.3 trillion and NNPC with held and spent N3.7 trillion.
“The cost of running NNPC is much more than running the federal government.
That tells you how much is missing, what is mismanaged and what is stolen.
There are huge figures,” he stressed.
The NEC chaired by Vice President Yemi Osinbajo set up a four-member committee to probe the accounts of the NNPC and the Excess Crude Account managed by the last administration.
READ ALSO: North Strategises To Take Over NNPC Governor Abdulazeez Yari of Zamfara state, who was also present at the meeting, told journalists:
“On that line, a four-man committee consisting of the governors of Edo, Gombe, Kaduna and Akwa Ibom state was constituted to go through the books of NNPC and Excess Crude as well as the federation account.
”The four-man committee will check the books of NNPC, most especially the issue of excess crude and what is not remitted into the federation account.
“The FG, in conjunction with the CBN, will look in wards to see how to support, how much they will give to states especially on the issue of out standing salaries owed by the states and even the federal government.”
It would be recalled last week Buhari sacked NNPC board of directors.
Commenting on the president’s decision, Femi Adesina, presidential aide said:
“You can’t make changes without having new leadership”.
He also added that Buhari remains “committed to cleaning up the system, and wants account ability and transparency in the oil industry.”
Adams Oshiomhole, the governor of Edo state Adams Oshiomhole, the governor of Edo state, disclosed this after the National Economic Council meeting, which was held at the presidential villa in Abuja.
The governor said that out of N8.1 trillion generated from the oil sales during the period only N4.3 trillion was remitted to the federation account.
Oshiomhole also disclosed that Ngozi Okonjo- Iweala, the former minister of finance, spent $2 billion from the Excess Crude Account between November 2014 and May 2015 with out approval.
READ ALSO: President Buhari’s Full Speech At The NEC Inauguration
“This is the first time we had a National Economic Council meeting in which under the instructions of the president, NNPC and the office of the accountant general of the federation was compelled to provide information in black and white on issues as it relates to the total sales of Nigeria crude from 2012 to May 2015.
This never happened before.
“What we saw from those numbers, which I believe Nigerians are entitled to know, is that where as the NNPC claimed to have earned about N8.1 trillion, what NNPC paid into the federation account between 2012 and May 2015 was N4.3 trillion and NNPC with held and spent N3.7 trillion.
“The cost of running NNPC is much more than running the federal government.
That tells you how much is missing, what is mismanaged and what is stolen.
There are huge figures,” he stressed.
The NEC chaired by Vice President Yemi Osinbajo set up a four-member committee to probe the accounts of the NNPC and the Excess Crude Account managed by the last administration.
READ ALSO: North Strategises To Take Over NNPC Governor Abdulazeez Yari of Zamfara state, who was also present at the meeting, told journalists:
“On that line, a four-man committee consisting of the governors of Edo, Gombe, Kaduna and Akwa Ibom state was constituted to go through the books of NNPC and Excess Crude as well as the federation account.
”The four-man committee will check the books of NNPC, most especially the issue of excess crude and what is not remitted into the federation account.
“The FG, in conjunction with the CBN, will look in wards to see how to support, how much they will give to states especially on the issue of out standing salaries owed by the states and even the federal government.”
It would be recalled last week Buhari sacked NNPC board of directors.
Commenting on the president’s decision, Femi Adesina, presidential aide said:
“You can’t make changes without having new leadership”.
He also added that Buhari remains “committed to cleaning up the system, and wants account ability and transparency in the oil industry.”
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