President Muhammadu Buhari yesterday constituted a four-man
committee to probe NNPC over N3.8 trillion unaccounted for by the corporation
in the last three years. According to the Edo state governor, who is part of
the 4-man probe committee, investigations by the federal government show that
NNPC made N8.1 trillion from 2012-2015, paid N4.3 trillion to the federal
government and withheld N3.8 trillion which the management of the corporation
have not accounted for.
The probe panel was constituted by the National Economic
Council which was inaugurated by President Buhari yesterday June 29th
"We are talking about transparency, we are talking
about change and what we saw from those numbers I believe that Nigerians are
entitled to know, is that whereas NNPC claimed to have earned N8.1trn, what was
paid into the Federation Account from 2012 to May 2015 was N4.3trn. What it
means is that NNPC withheld and spent N3.8trn. The major revelation here is
that the amount NNPC paid into the federation account for distribution to the
three tiers of government came to N4.3trn and the corporation alone took and
spent N3.8trn. This means the cost of running NNPC is much more than the cost
of running the Federal Government. That tells you how much is missing; what is
mismanaged; what is stolen. These are huge figures. There is no enterprise
manager who goes to the market and sells and just begin to spend, otherwise
nobody needs to budget,” he said.
He added that if the Federal Government cannot spend without
appropriation, agencies of government cannot not also spend money without
appropriation
"This is what the constitution provided for. And this is
what President Buhari has promised to do that henceforth all monies must go to
the Federation Account. What do you need budget for; Nigeria cannot continue
with you earn the money and spend it. Where is transparency? Where is the role
of the National Assembly? So if you were doing that you won’t have a situation
where the NNPC alone will spend N3.8trn and remit to the federal, states and
local governments N4.3trn which means NNPC is taking about 47 per cent and that
explains all the leakages you are talking about. We looked at the numbers for
the Excess Crude Account.
"The last time the Minister of Finance and Coordinating
Minister of the Economy, reported to the Council and it is in the minute, she
reported that by November 2014, we had $4.1bn but today the Accountant General
Office reported we have $2bn, which means the Honourable Minister spent $2.1bn
without authority of the NEC." he said
Other members of the probe panel includes governors of
Kaduna, Zamfara and AkwaIbom states.
9 Comments
Jonathan's probe has started
ReplyDeleteGood to be done
ReplyDeleteWell if corruption will stop in government, nigeria will go a long way
ReplyDeleteImagine the huge amount considered missing
ReplyDeleteNice1
ReplyDeleteKudos to PMB
ReplyDeleteFG is working!
ReplyDeleteHmmmm! This money is too much oo!
ReplyDeleteThat's very good
ReplyDelete