The civil society and media stakeholders have urged the Federal Government to sanction defaulting agencies for failure to implement remedial issues contained in the audit reports conducted by theNigeria Extractive Industries Transparency Initiative (NEITI).
This was part of the consensus among participants at a civil society/media workshop on remedial issues in the reports, held recently in Abuja.
Speaking at the event, Executive Secretary of NEITI, Waziri Adio lamented the slow pace of implementing several pending remedial issues in the NEITI reports by relevant agencies of government.
Mr. Adio identified the pending issues of NNPC non-remittance of $16.8billion dividend between 2000 and 2015 as the elephant in the room.
“From our reports, this money did not go to the Federation Account; Nigerian National Petroleum Corporation (NNPC) confirmed that the outstanding payment was $16.8billion”, said Adio.
Responding to the questions on whether it was the Federal Government or the Federation that made the investment in the NLNG, Mr. Adio said; “If that money belongs to the Federal Government, that money cannot be spent without appropriation. If it belongs to the Federation that money should be in the Federation Accounts Allocation Committee (FAAC). On the alternative, the money at the very minimum belongs to the Nigerian public. The corporation has a responsibility to ……account to Nigerians, he explained.
“We know how much oil we sell but we cannot scientifically say that this is how much oil we produce, we cannot independently say this is how much oil we produce, resulting in huge revenue loss to the Federation”, Adio noted.
NEITI also raised questions about the propriety of NNPC retention of the 450,000 barrel per day allocation to domestic refineries when their actual refining capacity is just about 21% of this figure.
Other pending remedial issues in the NEITI reports include cash calls wrongly paid to Nigerian Petroleum Development Company (NPDC) by NAPIMS in respect of the Nigeria Agip Oil Company Joint Venture.
NEITI reports revealed that part of the money was refunded to NAPIMS who could not show evidence of remittance of same to the federation account. NAPIMS also failed to produce an appropriate authority to expend the refunds.
The event was organized with the support of Trust Africa.