Corruption in high places: NNPC stinks… Sold $20.9bn crude, remitted only $7bn

Allison Madueke, Petroleum Minister.                                       Andy Yakubu, NNPC MD                                

Following a recent alarm raised by one of its members, Mr. Haruna Manu, that about $13.9bn crude oil revenue could not be accounted for by the NNPC. 

The House of Representatives has ordered another round of investigation into crude oil sales and remittances by the Nigerian National Petroleum Corporation.

Manu, who quoted from statistics allegedly generated by the NNPC, told the House that the value for crude oil sales from January to August stood at $20.9bn.

He, however, said only $7bn was remitted to the Federation Account by the corporation.

Manu added that “this shows that $13.9bn was not accounted for and it raises questions about how it was spent.”

He claimed that from September to date, the corporation had not given an account of crude oil sales.

The Acting Group General Manager, Group Public Affairs Division, NNPC, Ms. Tumini Green, could not be reached to comment on the allegations made in the report.

Several calls made to her mobile telephone line did not go through.