Founding father of IBTC Stanbic Financial institution, Atedo Peterside, has challenged the Nigerian Nationwide Petroleum Company to make clear allegations that it dipped its fingers within the federation account so as to announce a revenue of N287bn.
The PUNCH on Friday reported that the President, Main Common Muhammadu Buhari (retd.), had introduced a web revenue by the NNPC for the primary time in its 44-year historical past.
The president had stated, “I’m happy to announce the declaration of revenue after tax of N287bn in yr 2020 by the Nigerian Nationwide Petroleum Company. That is sequel to the completion of the statutory annual audit train for yr 2020.
“The NNPC losses had been lowered from N803bn in yr 2018 to N1.7bn in yr 2019 and the eventual declaration of web revenue in yr 2020 for the primary time in its 44-year historical past.”
In a tweet on Sunday, Peterside stated, “There may be an allegation that NNPC dipped their fingers within the Federation Cookie Jar so as to announce bumper 2020 income; they need to come clear and publish particulars of all dividends obtained by them and inform us which of them they just lately diverted from the Federation to themselves.”
In a 19 April 2021, it was reported that the overall income generated by the NNPC from crude oil and fuel exports plunged by 45.98 per cent in 2020 amid the COVID-19-induced collapse in value and demand.
The report stated Nigeria’s income from the exports of crude oil and fuel fell to $2.62bn in 2020 from $4.85bn in 2019.
It added that proceeds from the sale of home crude oil and fuel additionally dropped to N1.54tn in 2020 from N1.57tn in 2019.
Reacting to Peterside’s tweet, @DrJoshObi stated, “I learn some time in the past that the FG just lately permitted some billions for turnaround upkeep, perhaps they recorded it as ‘influx’.”
@ayotula stated, “I knew one thing was unsuitable, NNPC for the primary time declared revenue and subsequent says it desires to promote shares.
“I knew it was stage managed due to the provisions of the PIA. It’s anticipated that NNPC would have made income for some years earlier than pondering of shares.”
@FAGalileo stated, “PIA signed into regulation and the following massive announcement is NNPC declaring income for the primary time in 44 years. Who’s fooling who?
“The @NNPCgroup ought to publish the subsidiary and its actions that produced this big revenue margin. Or was this finished for the 30 per cent frontier basin?”
The Group Managing Director, NNPC, Mele Kyari, had on Thursday night time stated the company was capable of reduce down its procurement prices by 30 per cent final yr which helped it to put up the N287bn revenue.
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