NNPC dismisses report on missing 48m barrels of crude oil

The Nigerian National Petroleum Corporation (NNPC) on Thursday dismissed as unfounded and total falsehood, a report on missing 48 million barrels of crude oil.

The Group Managing Director of NNPC, Melee Kyari, who stated this at the interactive session organised by the Senate Joint Committee on Finance and National Planning on 2021 – 2023 Medium Term Expenditure Framework and Fiscal Strategy Paper (FSP), urged the National Assembly to carry out a forensic audit on the claim.

The chairman of the joint committee, Solomon Adeola, raised the issues of the alleged missing barrels of crude oil and unapproved yearly budget of the corporation at the interactive session.

Kyari, who was represented at the forum by the NNPC Chief Finance Officer, Umar Ajiya, said there were no records of ships that sailed out of the Nigerian waters with crude oil and clearance from the Nigerian Navy and Department of Petroleum Resources (DPR).

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He said: “No ship leaves the country without clearance from the appropriate unit of the Nigerian Navy and there is no way any ship with such alleged stolen crude can escape from the Nigerian shore.

“As far as the NNPC is concerned, no barrel of crude oil is missing as falsely alleged and we very ready to be investigated on the matter.”

Kyari told the lawmakers that the yearly budget of the corporation was cross-checked and approved by the National Assembly through consideration and passage of MTEF and FSP.

The NNPC GMD added: “Proposals such as our revenue projections, cost of operations are well stated in all MTEF/FSP documents made available to the National Assembly for consideration and approval. The basis upon which the nation’s budget is passed and signed into law, meaning that it is you (National Assembly) that approves our yearly budget.”

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