The GMD, however, said the arrangement allowed NNPC to lift the royalty oil from Production Sharing Contracts (PSCs) and remit the proceeds to the DPR, adding that confirmation and reconciliation of royalty payments to the sister agency were carried out at the monthly meeting between the Office of the Accountant General of the Federation and revenue generating agencies.
The lawmaker explained that the committee was mandated by the House of Representatives to investigate the award of all OPLs and OMLs granted to oil companies by the federal government, to, among other things, ascertain whether due process and guidelines for the acquisition of oil and gas assets were complied with.
18 August 2015, Benin—President of Nigeria Institute of Welding, Dr. Solomon Edebiri, has warned that the attainment of vision 20-2020…
