Abuja — The Nigerian National Petroleum Corporation (NNPC) yesterday told the National Assembly that it remitted N1.26tr as against the N1.22tr projected in the 2018 budget to the Federation Account in 2018.It said the corporation also recorded N41b surplus in meeting its financial obligations to the Federation Account.
Managing Director of NNPC Capital, Godwin Okonkwo, who represented the corporation's Group Managing Director, Dr. Maikanti Baru, disclosed this when he appeared before House of Representatives Ad-Hoc Committee on Investigation of Non-Remittances of Funds to the Federation Account by the NNPC between July 2017 and December 2018.
He said although government proposed 2.3m barrels per day (mbpd) in the 2018 budget, national daily production for the period under review was between 1.9mbpd and 1.89mbpd.Baru explained that the two sources of inflows into the Federation Account from the NNPC were equity crude oil sales less cost of recovery from Joint Venture (JV) cash call arrears and domestic crude less recovery costs.
He added that JV cash call arrears were being efficiently managed to ensure steady inflows into the Federation Account.He noted that the corporation on a regular and sustained basis balanced up with the Federation Account Allocation Committee (FAAC) and JV cash calls to ensure that future generations do not suffer from legacy debts.
Baru dismissed allegations of under remittances by states commissioners of finance, adding that investments in the oil and gas industry took time to mature, and that if the NNPC failed in its obligation to invest in the sector, the various tiers of government would have nothing to share.
Meanwhile, persons with disabilities (PWDs) yesterday besieged NNPC headquarters in Abuja demanding five per cent slot in the corporation's current recruitment exercise.
President of the Association of Physically Challenged Applicants (APCA), Ofey Godstime, said the group, which comprises all states of the federation had used every means to reach out to the corporation, but had not received any response.He said unlike other countries or organisations, the NNPC also failed to give reference to physically challenged applicants in its online application for the openings.
Considering that the President Muhammadu Buhari recently passed the Disability Bill into law, Godstime said the corporation was under obligation to consider physically challenged persons for employment.As at the time of filing this report, NNPC's Group General Manager, Group Public Affairs Division, Ndu Ughamadu, did not respond to request seeking explanation on the matter.