Nigeria: Governor Accuses NNPC of Failing to Remit Oil Revenues to Nigerian Govt for Over Five Months

11 September 2024

The accusation is coming days after NNPC Ltd admitted that it was owing an undisclosed amount of money to suppliers of the Premium Motor Spirit otherwise known as petrol.

Governor Charles Soludo of Anambra State has accused the Nigerian National Petroleum Company Limited (NNPC Ltd) of failing to remit oil revenues to the Nigerian government for over five months.

Mr Soludo spoke during an event at the Dora Akunyili Women Development Centre, Awka, Anambra State capital.

A video clip which showed the governor making the comments has been circulating on social media.

It is unclear when the event took place although there are indications it occurred in July.

'NNPC hasn't remitted any oil revenue since February'

Mr Soludo claimed the Nigerian government had been relying on remittances from the Nigerian Customs Service and taxes to pay monthly allocations to state governments.

"Nigeria's oil money has finished. Are you people hearing me?

"Since February, March, April, May and this June that just ended, NNPC has not paid any money into the Federation Account from oil revenue," he told attendees at the event in Igbo language.

"What we (federal, state and local governments) have been sharing (as monthly allocations) are revenues generated by customs service, taxes etc. It is good for everyone to know this today," the governor added.

NNPC silent

Olufemi Soneye, the spokesperson of the NNPC Ltd, did not respond to calls on Wednesday afternoon seeking his comments.

Mr Soneye was also yet to respond to a text message seeking his comments as of the time of filing this report.

Debt headache

Mr Soludo's accusation came days after NNPC Ltd admitted that it owed an undisclosed amount of money to suppliers of Premium Motor Spirit, otherwise known as petrol.

"NNPC Ltd has acknowledged recent reports in national newspapers regarding the company's significant debt to petrol suppliers. This financial strain has placed considerable pressure on the company and poses a threat to the sustainability of petrol supply," Mr Soneye said in a statement on 1 September 2024.

The spokesperson was reacting to an earlier news report that the company was owing $6.8 billion to international oil suppliers.

He, however, did not mention the exact amount the company was owing the petrol suppliers.

AllAfrica publishes around 500 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.