Nigeria: NNPC Fails to Remit N726 BIllion in Three Years As Nigeria Loses N100 Billion to Inefficiency

31 January 2013

A government report has indicted the Nigerian National Petroleum Corporation, NNPC, of failing to remit $4.84 billion (726 billion) to the Federation Account between 2009 and 2011.

The money was part of payments the national oil company should have made to the federation account in respect of dividends and repayment of loans by the Nigeria Liquefied Natural Gas, NLNG, between 2009 and 2011.

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