Alleged missing crude oil: NNPC challenges NASS to commission forensic audit

The Nigerian National Petroleum Corporation (NNPC) has restated its position that the claim of missing 48 million barrels of crude oil was outlandish.

The oil corporation challenged the Senate to initiate a forensic audit of the alleged missing crude oil at the latter expenses.

The NNPC, Chief Finance Officer, Umar Ajiya, threw the challenge at the Joint Senate Committee on Finance and Planning on the occasion of the public hearing on 2021-2023 Medium Term Expenditure Framework and Fiscal Strategy Paper (FSP).

The event has commenced since Tuesday with heads of revenue-generating agencies making presentations before the joint Committee.

Alhaji Ajiya’s outburst was sequel to the remarks by the Chairman of the Joint Committee and Senator representing Lagos West, Solomon Olamilekan Adeola who asked the representative of the Group Managing Director of the NNPC, Mele Kyari, to shed light on the alleged missing crude oil as reported by an online medium.

Senator Adeola claimed Nigerians were not convinced by the refusal made by the oil giant through paid advertorial.

Ajiya told the gathering of lawmakers and newsmen that no ship could sail out of the country with crude oil without vetting by the Nigerian Navy and Directorate of Petroleum and Resources (DPR).

He said: “No ship leaves the country without clearance from the appropriate unit of the Nigerian Navy and there is no way any ship with such alleged stolen crude could escape from the Nigeria shore.”

“As far as the NNPC is concerned, no barrel of crude oil is missing as falsely alleged and very ready to be investigated over it in the form of commissioning of a forensic audit by the National Assembly at its own cost.”

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Responding to claim by the senator that the NNPC annual income and expenditure were shrouded in secrecy, the Chief Finance Officer of the corporation dismissed the claim as unfounded as he maintained that the budget of the corporation was subject to the scrutiny by the National Assembly which always carries out its statutory duty of consideration and passage of MTEF and FSP which contains revenue projections of the agency.

“Proposals such as our revenue projections, cost of operations are well stated in all MTEF/FSP documents made available to National Assembly for consideration and approval, the basis upon which the Nation’s budget is passed and signed into law, meaning that it is you (National Assembly), that approves our yearly budget.”

He equally defended the $21per barrel production cost the corporation is incurring on each barrel of crude oil, as against the $13 per barrel in most oil-producing countries.

Earlier, Chairman of the joint Senate Committee has asked the NNPC to ensure a reduction in the cost of crude oil production as he noted that Nigeria cost of production is one of the highest in the world.

“We can’t continue to be losing money. You have promised us that you are working round the clock. You have said you will bring it to $13 per barrel from the present $21 per barrel.”

 

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