By David Agba
Abuja
Stakeholders in the extractive industry have called on the Economic and Financial Commission (EFCC) to investigate the non remittance of monies by various companies into the federation account.
These were the views of participants at the Stakeholders’ Dialogue on the 2013 NEITI Report yesterday in Abuja.
Some of the participants said the anti graft agencies should look into issues relating to non remittance as monies are being lost by the federal government.
The Executive Secretary of NEITI, Waziri Adio reeled out a list of some of the unremitted funds to include; $763 million and N351.8 billion for AGIP liftings and domestic crude sales respectively. Also, unremitted to the Federal Government by Nigeria National Petroleum Corporation (NNPC) was $13 billion paid to it by the Nigeria Liquified Natural Gas (NLNG) over a period of 8 years.
In addition, an outstanding $1.7 billion from divestment from 8 oil blocs by NNPC was yet to be paid into government’s coffers. Moreover, $414 million and N249.2 million further form outstanding cash call refunds on OML 26 in the NNPC/SPDC divested asset not remitted to government.
The Executive Secretary noted there was need for the government to review its tax reporting system and put in place a sector specific fiscal regime for the country. “This will improve controls over sector revenues, transparency and traceability of income.”
The NEITI helmsman wondered why despite been paid $358 million for 4 assets, it failed to remit the money to government coffers.
“We cannot continue to run our country like this,”he said.
In a chat, Rights activist, Jaye Gaskia, asserted that it was time the President begin to take personal responsibility for the implementation of the NEITI report knowing it is the mainstay of the economy.
According to him, “he should not just leave it to inter-ministerial committees.”
He therefore called on Nigerians to begin to take interest in the report as it outcome impacts on their livelihood.
