Senate probes NNPC revenue from 2010-2020

The upper chamber of the National Assembly has started probing the Nigerian National Petroleum Corporation (NNPC) revenue from 2010 till 2020.

The nation’s Oil Corporation, is however scheduled to appear before Senate Committee on Finance on Tuesday.

The probing is part of the Senate Committee on Finance investigations into the internally generated revenues of 700 MDAs and the payment of 1% Stamp Duty by contractors on all contracts awarded by MDAs between 2014-2020.

Speaking during the Investigative hearing, the Chairman of the Committee, Senator Solomon Adeola, accused the government-owned Oil Corporation of non-payment of 1% stamp duty, adding that “you have not been complying with payment of stamp duty.”

Senator Adeola requested for total Revenue accrued to NNPC since 2010 till 2020 and corresponding expenditure.

He also asked NNPC to present amount remitted prior to audit and evidence of payment from 2010 till 2020.

The lawmaker requested for audited financial status of NNPC from 2010 till 2019 and Management Account of 2020.

The Chairman also asked the NNPC to present all the documents requested to Fiscal Responsibility Commission.

(The Independent)