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HomeNewsEconomyNNPC gives NRGI 7 days to ‘correct’ unremitted revenue report

NNPC gives NRGI 7 days to ‘correct’ unremitted revenue report

The Nigerian National Petroleum Corporation (NNPC) has given the Natural Resource Governance Institute (NRGI) seven days to review its report the Corporation said was full of blunders.

NRGI had in a report last week said NNPC withheld around two third ($4.2bn) of the $6.3 billion of oil proceeds in the second half of 2015. NRGI said what NNPC withheld under the current administration increased by 12 percent from the proportion kept under the administration of Goodluck Jonathan in 2013 and 2014.

NNPC invited NRGI to a meeting on Tuesday to discuss the report after which a top official of the Corporation told our reporter that NRGI has seven days to ‘correct’ the ‘misinformation’.

The official who was privy to the meeting said on Wednesday that the Corporation will take necessary action to remedy its damaged reputation If NRGI fails to review the report.

“Their report was wrong, so we invited them and they now worked through their figures unknown to them they were wrong. The thing is they didn’t understand it all. We showed them and said based on what you know now, go back and do the necessary thing: either retract or amend and say the truth. If they don’t do that we will now respond to them,” the official said.

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Asked what will be NNPC’s response should no review be done, the official said, “We will follow them up so that other people will respect NNPC. They have to go and correct the errors and misinformation because of the impact that has on NNPC and the country. We have insisted that they go and amend their report accordingly and tell the public what the truth is. If they don’t do that then we will take the necessary action to remedy our reputation they have damaged.”

The international resource watchdog has not accepted that its findings were wrong, one of its official said discussions were still ongoing.

 

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