$13.7 Billon Worth of Oil Stolen Under NNPC - NEITI Boss Reveals

 

During a courtesy call on Governor Nasir el-Rufai, at Sir Kashim Ibrahim Government House, Kaduna, on Wednesday, Hajiya Zainab Shamsuna-Ahmed - the Executive Secretary of the Nigeria Extractive Industries Transparency Initiative, said between 2009-2012, about 160 million barrels of oil valued at $13.7 billion was stolen under the watch of the Nigerian National Petroleum Corporation (NNPC).

She also said that subsidy payment from 2005-2012 indicated that $11.63 billion had been paid to the NNPC but that there is no evidence of the money being remitted to the federation account. She called on the Federal Government to privatize the refineries.

Hajiya Ahmed said, “Crude product swap of $866m was lost from 2009 to 2011 and $8243m in 2012. Total amount expended in subsidy payment from 2005 to 2012 as captured $11.63bn have been paid to the NNPC. However, there is no evidence that these amounts were remitted to the Federation Account,” she stated.

Meanwhile, Governor El-Rufai disclosed that since he called for the scrap of the NNPC, the corporation has been sponsoring articles in the media to attack him. He added that the corporation would be made to pay all monies it owed before its final death.

“NNPC has become a monster that is too powerful. I will continue to fight NNPC till it dies for Nigeria to survive. It is either Nigerians kill NNPC or NNPC will kill Nigeria. Since, I called for the death of NNPC, the corporation has sponsored articles attacking me, but I am telling them my skin is thicker than an elephant”, El-Rufai said.