The Chairman of NEITI, Kayode Fayemi, disclosed this on Monday while presenting the 2013 audit reports of the agency in Abuja.
Citing the audit, Fayemi said some revenues that should have gone to the Federation in 2013 were not made or lost due to a number of reasons.
He said, “These revenues were broken down as follows: Sum of $3.8bn and N358.3bn as outstanding revenues from NNPC and its sub-units in 2013. These outstanding payments were due from unpaid consideration from the divested OMLs (Oil Mining Liseases), cash call refunds from NAPIMS (National Petroleum Investment Management Services), and NPDC (Nigerian Petroleum Development Company) liftings from NAOC JV (Nigerian Agip Oil Company Joint Venture), etc.
“Sum of $5.966bn and N20.4bn as revenue losses to the Federation. These losses were due to offshore processing agreement, crude swap, crude theft, etc. Sum of $599.8m as under-assessments/under-payments of petroleum profit taxes and royalties by oil and gas companies as a result of the use of different pricing methodology by the government and the companies because of the absence of a new fiscal regime.” Click to signup for FREE news updates, latest information and hottest gists everyday
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in eko atlantic city ,Victora Island Lagos
ReplyDeletea plot goes for N750,000 per sq mtrs and the plots are being bought up like groundnuts,
wonda were this niggas gets this kind of dough which they have spending to spend like water..
Baba God help me too ooh! God is great
This is big time owo, $3.8Billion ,na im dey lost soo. this people get mind sha oo.
ReplyDeleteBut anytime you see em they kinda look soft with no gra gra at all, but how come they can swing this kinda mega deals with them biro only, no be gun ooo. this is genius.
This is serious levels o, no be beans o
Jonathan should bury his face in shame. We're paying for your sins
ReplyDelete