• Ministry blames NNPCL, NUPRC for withholding records as Senate orders fresh reconciliation
Sunday Aborisade in Abuja
Federal Ministry of Finance and Nigerian National Petroleum Company Limited (NNPCL) were on Thursday locked in a dispute before the Senate Public Accounts Committee over unresolved financial queries arising from the Nigeria Extractive Industries Transparency Initiative (NEITI) 2021–2023 Oil and Gas Sector Audit Report.
The ministry accused NNPCL and other agencies of failing to provide critical financial records needed to respond to queries bordering on a $3 billion pre-export financing loan, $722.6 million in Nigeria Liquefied Natural Gas (NLNG) dividends and interest, refinery rehabilitation expenditure, and other transactions.
Permanent Secretary of the ministry, Mr Raymond Omachi, made the accusation when he appeared before the committee, chaired by Senator Ibrahim Dankwambo (Gombe North), to answer questions on the financial infractions identified by NEITI.
