The Nigeria Extractive Industries Transparency Initiative (NEITI) says about 160 million barrels of crude oil, valued at $13.7bn were stolen between 2009 and 2012 under the watch of the Nigerian National Petroleum Corporation (NNPC).

NEITI Executive Secretary, Hajiya Zainab Shamsuna-Ahmed, who made the startling revelation on Wednesday during a courtesy call on Governor Nasir el-Rufai of Kaduna State also appealed to President Muhammadu Buhari to privatize the nation’s four refineries.

The NEITI boss, who called on the Federal Government to privatise the refineries, stated this during a courtesy call on Governor Nasir el-Rufai of Kaduna State at Sir Kashim Ibrahim Government House, Kaduna, on Wednesday.

“Crude product swap of $866m was lost from 2009 to 2011 and $82.43m in 2012. Total amount expended on subsidy payment from 2005 to 2012 as captured, $11.631m have been paid to the NNPC. However, there is no evidence this amount was remitted to the federation account,” Shamsuna-Ahmed said.

Meanwhile, Governor el-Rufai has restated his resolves to ensure that NNPC pays all the money it owed before its final death. “NNPC has become a monster and too powerful. I will continue to fight NNPC till it dies for Nigeria to survive. Its either Nigerians kill NNPC or NNPC will kill Nigeria,” El-Rufai declared.

El-Rufai who is among the four governors, appointed by the National Economic Council to scrutinise the accounts of the NNPC and the Excess Crude Account managed by the administration of former President Goodluck Jonathan, alleged that since he called for the scrapping of NNPC, the corporation has being sponsoring articles in the media to attack him.

“Since I called for the death of NNPC, the corporation sponsored articles attacking me, but I am telling them my skin is thicker than that of an elephant. The NNPC can’t bribe us, the four governors,” he boasts.

Part of the terms of reference given to the Four Governors’ panel was to unravel the N3.8trillion allegedly not remitted to the Federation Account by the national oil giant between 2012 and May, 2015 as well as $2.1billion allegedly deducted from the Excess Crude Account without the knowledge of the governors.

By Olisemeka Obeche


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