Senate commences inquest into DPR’s remittance of N44.5bn instead of generated N2.4trn

Senate commences inquest into DPR’s remittance of N44.5bn instead of generated N2.4trn
The Senate, on Friday, August 21, questioned the Department of Petroleum Resources (DPR) for remitting a paltry N44 5billion into the Consolidated Revenue Fund of the Federal Government in 2019 out of N2.4trillion it generated.

Chairman, Senate joint committee on Finance and National Planning, Senator Solomon Adeola (Lagos West) had demanded records of the agency’s internally generated revenue in 2019 and projections for 2021.

1st News gathered that the DPR appeared before the Senate joint committee at its ongoing stakeholders’ interactive session on the 2021-2023 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP), in Abuja.

The Head of Planning of the DPR, Johnson Ajewole, who first spoke in the absence of the Director, Engr Sarki Auwalu, said a total of N2.4trillion was generated by DPR in 2019 but N44 5billion was remitted into the CRF.

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However, the committee members described his submission as unacceptable; due to the disparity between what was generated and the amount remitted.

Efforts made by the Head of Finance and Accounts of the agency, Mrs Lilian Ufondu; to explain the wide disparity in revenues and remittances, further angered the Senate committee members.

According to her, out of the N2.4trillion generated by DPR in 2019, N88billion was removed as a 4% collection fee; out of which N5.72billion was also remitted; while the balance was used for overhead.
Persistent questions fired at her by the Senate Committee Chairman and members on what happened to the over N2trillion balance were not satisfactorily answered as she was only able to mention overhead and operational costs without specific figures tied to them.

She added as at July, DPR had generated N1.13trillion and projected N3.4trillion as revenue generation for 2021; out of which N139billion will be taken out as a 4% collection fee.

Unsatisfied, the Senate committee ordered the agency must reappear before it unfailingly next Tuesday; led by its Director, Sarki Auwalu, said to have traveled abroad.

Adeola said: “Information and records presented to us by Directors or heads of departments; that have spoken are not clear and insufficient; as regards the budget performance of the DPR within the last three years and revenue projection for 2021.

“For this committee to do a proper and thorough job; comprehensive records of such budget performances must be made available latest by Monday next week; upon which your Director and other top management staff, will appear before us again on Tuesday next week.”


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