Fuel subsidy: Investigate  Buhari’s government or face consequences – SERAP tells Tinubu (thenewsguru.com)

Fuel subsidy: Investigate  Buhari’s government or face consequences – SERAP tells Tinubu

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The AuditorGeneral fears that the money may have been diverted.

The NNPC also failed to account for N4,572,844,962.25 of domestic gas receipts, thereby reducing the distributable revenue in the Federation account. The AuditorGeneral wants the money remitted.Advertisement

The NNPC also in 2019 failed to account for 22,929.84 litres of PMS pumped from refineries and valued at N7,056,137,180.00.

The AuditorGeneral fears that the crude valued at N55,891,009,960.63 may have been diverted.Advertisement

The NNPC in 2019 also failed to remit N1,955,354,671,268.66 and N55,157,702,848.74 of generated revenues into the Federation Account, contrary to Section 162(1) of the Nigerian Constitution 1999 as amended.

The money was deducted by the NNPC from the Oil and Gas Royalty assessed by the DPR.

The DPR in 2019 also deducted N19,840,081.29 as stamp duty payments from contractors and consultants but the DPR instantly paid back the money to the contractors and consultants instead of remitting it to the treasury.

The DPR in 2019 also paid N137,225,973.35 to contractors and consultants for various contracts and consultancies but failed to deduct stamp duty.

Keypoints

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