Nigerian lawmakers to investigate state oil firm over remittances
ABUJA, July 10 (Reuters) - Nigerian lawmakers voted on
Tuesday to investigate the state oil firm over a shortfall in
revenue remittances to government coffers, in a motion passed by
the lower house of parliament.
Last month, Nigeria's finance minister called the Nigerian
National Petroleum Corporation's (NNPC's) payments to the
government account "unacceptable", as they were less than
expected in light of higher crude oil prices.
Those publicly-raised concerns triggered Tuesday's vote by
the House of Representatives to probe NNPC, which noted an
"under remittance of about 100 billion naira ($327.65 million)."
The house resolved to establish an ad-hoc committee to
investigate crude oil sales and other sources of funds to NNPC
for May and June and is due to report back in two weeks.
An NNPC spokesman told Reuters the company had not yet seen
the house's resolution to investigate so could not comment
After Finance Minister Kemi Adeosun raised her concerns in
June, the NNPC said in an emailed statement that its remittance
to the government account was in line with terms agreed with
Government revenues are collected centrally each month and
distributed to the various levels of state including the federal
government, state governments and local government councils.
Nigeria, an OPEC member, is Africa's biggest crude producer
and oil sales account for two-thirds of government revenue.
($1 = 305.2000 naira)
(Reporting by Camillus Eboh
Additional reporting by Alexis Akwagyiram
Writing by Paul Carsten; Editing by Adrian Croft)
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