The Nigerian National Petroleum Company (NNPC) Limited Failed to remit $1.9billion to the government’s account at the end of 2021.
This is according to the audit report of the Nigeria Extractive Industries Transparency Initiative (NEITI).
NEITI publishes a yearly audit of the oil, gas, and solid minerals sector.
Speaking at the unveiling of the report in Abuja on Monday, Ogbonnaya Orji, NEITI executive secretary said the organisation “discovered this information and felt it was important that the public knows about it.”
The report said Crude oil losses due to theft and sabotage decreased by 3.86 percent in 202.
Orji said crude oil production dropped from 39.08 million barrels in 2020 to 37.57 million in 2021, adding; “This decline is attributed to reduced crude oil production in that period, affecting 29 companies.”
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