NEC Meeting: Oshiomhole Discloses Facts That Nigerians Must Know

In the last three years, the Nigerian National Petroleum Corporation (NNPC) withheld and spent N3.7 trillion oil revenue without budgetary provision and approval.

Adams Oshiomhole, the governor of Edo state

Adams Oshiomhole, the governor of Edo state, disclosed this after the National Economic Council meeting, which was held at the presidential villa in Abuja.

The governor said that out of N8.1 trillion generated from the oil sales during the period only N4.3 trillion was remitted to the federation account.

Oshiomhole also disclosed that Ngozi Okonjo-Iweala, the former minister of finance, spent $2 billion from the Excess Crude Account between November 2014 and May 2015 without approval. Therefore, four state governors have been selected into a committee to probe the accounts.

READ ALSO: President Buhari’s Full Speech At The NEC Inauguration

“This is the first time we had a National Economic Council meeting in which under the instructions of the president, NNPC and the office of the accountant general of the federation was compelled to provide information in black and white on issues as it relates to the total sales of Nigeria crude from 2012 to May 2015. This never happened before.

“What we saw from those numbers, which I believe Nigerians are entitled to know, is that whereas the NNPC claimed to have earned about N8.1 trillion, what NNPC paid into the federation account between 2012 and May 2015 was N4.3 trillion and NNPC withheld and spent N3.7 trillion.

“The cost of running NNPC is much more than running the federal government,” he said.

It would be recalled last week Buhari sacked NNPC board of directors.

Commenting on the president’s decision, Femi Adesina, presidential aide said: “You can’t make changes without having new leadership”.  He also added that Buhari remains “committed to cleaning up the system, and wants accountability and transparency in the oil industry.”

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