Chairman, House of Representatives Committee on Finance, Hon Abdulmumuin Jibrin, last weekend declared N320billion missing from the remittance by the Nigeria Nationl Petroleum Corporation (NNPC). He said that the sum of  N1.516 trillion was paid in by NNPC into the Federal Government treasury.

Jibrin noted that what Nigerians want is total remittance of revenue generated from oil sales and not crude oil sales figures declared recently by the Ministry of Petroleum Resources. He said:  “It should be noted that this is after taking into consideration, payments for Joint venture cash calls (i.e. cost of production) and petrol subsidy payments. However, only N1.516 trillion has been remitted to the Federal Government coffers by the NNPC showing a shortfall of N320.654 billion for the period”, the lawmaker noted.

“Again, it should be noted that this is actual revenue generated at the prevailing market rate of crude oil and gas. The budget for the Fiscal year 2013 was based on $79 per barrel, whereas the price had hardly fallen below $100 per barrel for the whole year. This implies that even though we are receiving way above the benchmark on our crude oil and gas sales, we are not meeting our targets because our crude oil production has fallen way below budgeted estimates as a result of massive crude oil theft and unabated corruption in the oil and gas sector,”Jibrin lamented

The Finance Committee chairman maintained that Nigerians are not as keen on crude oil sales figures as the actual remittances from in NNPC to the federation account, adding that the amount remitted was more important and NNPC should have been more honest to present the figures so that Nigerians could understand what actually accrued  to the Federal Government.

His words: “For January to September 2013, the federation was expected to earn N1.837 trillion (or N204.168 billion per month) from the sale of crude oil and gas marketed by the NNPC with the Petroleum Minister as its board chairperson”

http://sunnewsonline.com/new/cover/reps-declare-n320bn-missing-from-crude-oil-remittance/

MTCHEEEEEEW NA TODAY E START?

Despite obvious, widespread graft, Jonathan says Nigeria corruption exaggerated

On unsolved corruption cases

"I’m not saying there is no corruption in the petroleum sector"

On [Anti]Corruption efforts/successes

"We are interested in making sure that there is no free money for you to steal"

"As a president you cannot gag the judiciary… you must allow the judiciary to be independent"

On high Cost of government

“We are doing very well in terms of that (managing the cost of running government)"

“If you are a minister, you need people that are competent to help you,”

#Team Fresh Air - NOT#

This has stopped being 'news' to me. When such occurrences are curbed and offenders are brought to book, then i'd consider it 'news'. *hiss*

Will GEJ also say this is political?

Na them them they steal am. thieves thieves thieves. #Runs away 4rm thread

Just converted the figure to dollars..

God damn...

This country sha! Everything is falling apart. Happy Independence day.

missing to where? into my pocket or their? criminals?

Naija I dey hail o, even as our government the fail o

Am not surprised

Just follow d instructions & steps from 1

1. I need to tell u a secret look at 5.

2. D answer is at 11

3.dnt gt mad look at 15.

4. Calm down don't b mad look at 13.

5.first look at 2

6.dnt b dat angry look at 12.

7. I just wanted to let you know dat I DON'T CARE

8.what I have to tell is .....d answer is on 14.

9. B patient look at 4.

10. Dis is d last tym I'm goin 2 do dz,look at 7.

11. I hope u re nt mad wen i say dz look at 6.dnt

12. Sorry look at 8.

13. Dnt gt mad look at 10.

14. I dnt know Hw 2 say dz bt look at 3.

15. U must b really mad,look at number 10.

I have a prime suspect. I'm suspecting GOOGLE, make den search GOOGLE, i no trust am.

Infomizer: This has stopped being 'news' to me. When such occurrences are curbed and offenders are brought to book, then i'd consider it 'news'. *hiss*

see dis one oh

its obvious that Jonathan is aware of those stealing our money, but he serve as there intermediary after they will surely roja him. the president is the one aiding and abetting corruption in this country. One day i know God almighty will save us from Jonathan.

Because they cant get to share it now it is missing, Nigerian Selfish Representatives. Lets wait for Okonjo to reply them with Facts and they will close their mouths up just like the always do

Just as usual

Juz wen I tot ASUU dey strike pass THUNDER, dey calls off d strike......

Watch video live on CNN (cartoon network Naija).

Hon Endtime declare sexkillz missing!!

https://www.nairaland.com/1458977/sexkillz-must-go

ASUU needs N97b to call off strike while we're busy loosing N320b to Oil Remittance

President still believes that there is no corruption as you guys think, so they can still everything to make him believe that is a reality and not perception.

aManFromMars: Just converted the figure to dollars..

God damn...

Using Google abi? If to say na your head u use, e for burst

shachris01: Still wonder why Dizeani is still a Minister. She have performed worst than those ministers jona sacked.

Meawhile, don't miss the drama, as sexkillz packs and Go as an MOD. Here https://www.nairaland.com/1458977/sexkillz-must-go

#teamsexkillzmustgo

Who do you want her to be replaced with? You?

Some Nigerians can be so damn GULLIBLE... Can smone re-read this article and show me how or when #320bn was 'stolen' by d NNPC ie from d content of this story. Since when does d inability of Govt generating Agencies' to prompting remit monies to d Federation Account consistuent 'stealing' or even 'missing' funds, esp when an Audit has not been done (hence no use of FACTS) and whilst we are still in d 9th month of d year?? *smh*

Imagin,,a whole lot of #320bn missin,can dis happen if its a private firm,,jst cus it belongs 2 evrybody n few pipo tut best way of handlin it is by stealin it,,God is watchin us oo

N320BN missing,nd yet more stl dy o. Yet,1 ediot of a woman will say d N400BN dmanded by ASUU will cripple our economy.

taharqa: Some Nigerians can be so damn GULLIBLE... Can smone re-read this article and show me how or when #320bn was 'stolen' by d NNPC ie from d content of this story. Since when does d inability of Govt generating Agencies' to prompting remit monies to d Federation Account consistuent 'stealing' or even 'missing' funds, esp when an Audit has not been done (hence no use of FACTS) and whilst we are still in d 9th month of d year?? *smh*

So, Taharqa, can you tell us why the NNPC should brazenly refuse to remit funds due to the federation, and no one gets punished?

ITT

Why wont it be missing?

NIGERIA!!!