Home Nigerian Senate Demands investigation Of $18bn NLNG Dividend To NNPC

Nigerian Senate Demands investigation Of $18bn NLNG Dividend To NNPC

The Senate on Wednesday directed the Accountant General of the Federation, Mr Ahmed Idris, to investigate the $18.32bn which the Nigerian Liquefied Natural Gas Limited claimed to have paid as dividend to the Nigerian National Petroleum Corporation between 2004 and 2020.

Chairman, Senate Joint Committee on Finance and National Planning, Solomon Adeola, gave the directive at the ongoing stakeholders public hearing on the 2021-2023 Medium Term Expenditure Framework and Fiscal Strategy Paper.

The General Manager (External Relations and Sustainable Development) of NLNG, Mrs Eyono Fatai-Williams, had appeared before the panel, to present the financial activities of the company from 1999-2019.

Read more: Senate Probes FIIRO Over N60m Ebonyi Cassava Plant

Fatai-Williams told the panel that the company paid a dividend of over $18bn to NNPC from 2004 to 2019,  while  emphasissing that the NLNG was committed to a culture of transparency and integrity.

She  also disclosed that the NLNG remitted $9bn as tax to the Nigerian Government from 2011 to date, adding that additional $15bn had also been remitted for field gas to the NNPC since inception of the company

Meanwhile, the Senate has urged the Federal Government to, from September this year, ensure remittance of one per cent from the federation account into the coffers of the National Agency for Science and Engineering Infrastructure in line with the extant laws.

The joint panel stated this when the Executive Vice Chairman of NASENI, Prof. Mohammed Haruna, made submission before the panel on Wednesday.

Haruna lamented that the agency had never received one per cent remittance from the federation account as provided for by the 2004 National Assembly Act.



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