Nigerian lawmakers to probe NNPC over N3trn LNG profit

Nigeria Liquefied Natural Gas plant, Bonny

Nigeria Liquefied Natural Gas plant, Bonny

08 March 2015, Abuja — The House of Representatives is set to probe The Nigeria National Petroleum Corporation, NNPC, over $14.9 billion (about N3 trillion) profit from the Liquified Natural Gas, LNG paid to it since 2004 till date.

The said amount represents dividends realised from the sales of liquefied gas from 2004 to 2014 and which the multinational liquefied gas company allegedly claimed it has remitted to NNPC.

The arrowhead of the House of Representatives Committee on Public Accounts, Solomon Adeola made the disclosure, saying the committee will move a motion of urgent national importance at plenary on Tuesday to compel the NNPC to bring relevant documents.

NNPC has moved to stop the House from getting the documents as its lawyer, Mike Ozekhome & Co Chambers wrote the House Committee last Friday saying it has no right to request for the LNG accounts.

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