$13.7bn Worth Of Oil Stolen Under NNPC’s Watch In 3 Years – NEITI

The Executive Secretary of the Nigeria Extractive Industries Transparency Initiative, NEITI, Hajiya Zainab Shamsuna-Ahmed, on Wednesday alleged that between 2009 and 2012, about 160 million barrels of oil valued at $13.7bn was diverted under the watch of the Nigerian National Petroleum Corporation.
She also said that subsidy payment from 2005 to 2012 indicated that $11.63bn had been paid to the NNPC but that “there is no evidence of the money being remitted to the federation account”.
Mrs. Shamsuna-Ahmed, who called on the Federal Government to privatize the refineries, stated this during a courtesy call on Governor Nasir el-Rufai, at the Sir Kashim Ibrahim Government House, Kaduna.
According to the NEITI boss, “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”.
Meanwhile, Governor el-Rufai disclosed that since he called for the scrap of the NNPC, the corporation has being sponsoring articles in the media to attack him.
He, however, said he would not be deterred as the corporation would be made to pay all monies it owes before its final death.
El-Rufai said, “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”.

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