MDGIF Denies Under-remittance of Gas Flare Penalties

• Explains discrepancies flagged by AuGF report

Emmanuel Addeh in Abuja

The Midstream and Downstream Gas Infrastructure Fund (MDGIF) has refuted allegations of under-remittance of gas flare penalties, saying the discrepancies identified in the Office of the Auditor-General of the Federation’s 2023/2024 annual report were neither unaccounted revenue nor funds collected directly by the Fund.

The MDGIF, a directorate of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), explained that the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) was solely responsible for collecting gas flare penalties under the existing statutory framework.

In a statement issued yesterday by the Director of Public Affairs at the NMDPRA, Mr. George Ene-Ita, the Fund stated that the monies collected by the NUPRC were subsequently remitted into the Federation Account before allocations were made to its dedicated account with the Central Bank of Nigeria (CBN) through the Federation Account Allocation Committee (FAAC).