A Review of the Nigerian Energy Industry

NNPC dismisses alleged $10.8bn missing oil revenue

NNPC Towers05 January 20`4, Abuja – Nigerian National Petroleum Corporation, NNPC, yesterday cleared the air over allegation of missing $10.8 billion of the controversial un-remitted $49.8 billion oil revenue.
The General Manager, Media Relations Department, Group Public Affairs Division of the corporation, Dr. Omar Farouk Ibrahim, who stated this in a statement issued in Abuja, said no money was missing.

Ibrahim explained that “the yet-to-be reconciled $10.8 billion could be located in the expenses on some of the responsibilities which the corporation carried out on behalf of the Federal Government, with respect to domestic crude oil utilisation.
He said: “The issues surrounding the allegation of unremitted $49.8 billion against the Nigerian National Petroleum Corporation, NNPC, have since been explained but it appears the initial dust raised in the process is yet to settle.”

– Vanguard

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