RMAFC confirms NNPC’s non-remittance of N4.9trn to Federation Account

The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), yesterday In line with the position of the Auditor General of the Federation that the Nigerian National Petroleum Corporation (NNPC), was yet to remit the sum of N4.9 trillion to the Federation Account, confirmed that available records at its disposal indicate that between January 2011 and December, 2015, the total indebtedness of NNPC to the Federation Account was N4.9 trillion, The Sun reports.

This, therefore, confirms the Auditor General of the Federation’s claim on NNPC’S indebtedness to the government. According to RMAFC Chairman, Mohammed, the figure included NNPC’s claims for subsidy on petroleum products, crude and product losses, strategic reserves and the pipeline maintenance cost.

The statement added that while the said report claimed that NNPC owed the sum of N3.2 trillion to the Federation Account in 2014, from domestic crude sale, the Commission’s records revealed that the corporation owed the Federation Account the sum of N1.99 trillion only in 2014 from domestic crude sales. Therefore, the figure quoted by the Auditor-General of the Federation must have included revenues from other sources.

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