Finance Ministry, Not Us Responsible For Appointment Of Pre-shipment Inspection, Monitoring Agents—-NNPC

… Faults Media Reports Claiming It Lifted 17.877 Million Barrels Worth $1.02bn

…Confirms Lifting Only 7.053 Million Barrels, Reporting Same To Federation Account

The Nigerian National Petroleum Company Ltd has faulted reports published in some media platforms that it lifted 17.877 million barrels of crude oil worth $1.02bn without documentation.

Some online publication, (Not THE WHISTLER) had claimed in a news report that the NNPC exported 17.877 million barrels of crude oil without proper documentation within a four-year period covering 2016 to 2020).

It was claimed in the Report that the product valued at $1,020,969,281.12 was exported by NNPC between 2016 and 2020.

The publication had claimed that the NNPC was indicted based on an Audit Report from the Office of the Auditor-General for the Federation.

But reacting to the development, the National Oil Company stated that the Office of the Auditor General for the Federation had undertaken a Performance Audit on Pre-shipment Inspection and Monitoring of Crude Oil and Gas Exports with the Federal Ministry of Finance, Budget and National Planning (FMFBNP) as the agency of government being audited and not NNPC Limited.

It stated that the National Oil Company could not possibly be indicted in absentia by the Auditor General.

The NNPC said in it’s reaction that it was neither a party to the audit of the Federal Ministry of Finance, Budget and National Planning (FMFBNP) nor given any privilege of fair hearing before the audit report was forwarded to the National Assembly.

Setting the records straight, the NNPC Ltd further said it never lifted 17.877 million barrels valued at $1,020,969,281.15 as erroneously reported.

It stated further that the NNPC Limited only lifted 7.053 million barrels which is just 39.45 per cent valued at $437.71m.

The NNPC added that the balance of 10.82 million barrels (60.55%) valued at $583.26m (57.13%) represent liftings by International Oil Companies, Indigenous and Marginal Field Producers.

It stated further, “That available records with NNPC Limited confirm that all liftings by NNPC Limited were documented, and the export proceeds fully reported to the Federation Account.

“NNPC Limited is neither responsible nor have oversight role over liftings by international Oil Companies, Indigenous and Marginal Field Producers.

“Federal Ministry of Finance, Budget and National Planning (FMFBNP) is responsible for appointment of Pre-shipment Inspection Agents and Monitoring Agents and not NNPC Limited as claimed.

“The public is therefore advised to disregard the said mischievous and unsubstantiated allegation intended to rubbish the reputation and goodwill of NNPC Limited.”