Nigeria’s state oil firm, Nigerian National Petroleum Corporation (NNPC) Limited, failed to remit $1.9bn to the government’s account at the end of 2021.
This is according to the 2021 audit report of the Nigerian Extractive Industries Transparency Initiative (NEITI).
Head of NEITI, Ogbonnaya Orji, made this known at the unveiling of the report in Abuja, noting that the organisation discovered this information and felt it was important that the public knows about it.
NEITI publishes a yearly audit of the oil, gas, and solid minerals sector while the reports provide critical insights into the financial activities of the energy sector.
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