Oil & Gas Report: NNPCL Under-Remitted $1,951,115bn In 2021 – NEITI

Oil & Gas Report: NNPCL Under-Remitted $1,951,115bn In 2021 – NEITI

September 18, (THEWILL) – The Nigerian National Petroleum Company Limited (NNPCL) under-remitted a total of $1,951,115bn in 2021, the Nigeria Extractive Industries Transparency Initiative (NEITI), said on Monday, in its 2021 Oil & Gas Industry Report.

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“All the companies, including the NNPCL, provided us with the data and we also looked at their audited financial statements. These revenues were not remitted. NNPCL has its explanation. NEITI feels strongly that this should be brought to public knowledge and we have made our statement. It is a very balanced report and we then allow the public to judge”, he said.

Executive Secretary and National Coordinator of Nigeria Extractive Industries Transparency Initiative (NEITI), Dr Orji Ogbonnaya Orji, who presented the report in Abuja, also said a total of 69 companies and Nigerian Liquified Natural Gas (NLNG), were covered, out of which 22 fell within the criteria for reconciliation.

Orji, however, disclosed that the Nigerian National Petroleum Company Limited (NNPCL), under-remitted $1,951,115 billon during the period under review.

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