CONTRARY to the Ni<\/span>gerian National Pe<\/span>troleum Corporation\u2019s(NNPC) claim of non-indebtedness, the Nigeria Extractive Industry Transparency Initiative (NEITI) yesterday insisted that the corporation is owing the Federal Government N842billion.<\/span><\/p>\n The Executive Secretary, Mrs. Zainab Ahmed, yesterday explained that besides the N450billion that the National Assembly is investigating, the corporation is also owing another N588billion.<\/span><\/p>\n According to her, NNPC has already started paying the debt.<\/span><\/p>\n Her words: \u00a0\u201dNNPC did not deny the figures. The GMD was specifically saying that NEITI reports are 2008, their own report are more current up to 2010 and that since then, they have made some payments. He did not see any place he categorically said it is wrong.<\/span><\/p>\n \u201cThe GMD is a NEITI board member and in all things we do, he is involved. We consult with NNPC and all entities covered are made to make comments and sign off on the figures before they published.<\/span><\/p>\n \u201cThe figure we reported was N842 billion as at December 2008, included in this, is N389 million which is under the commercial credit period that the Federal Government normally pays to the NNPC, but as at the end December 2008 it was not paid because in it was still running.<\/span><\/p>\n \u201cSo the N450b that the Assembly was investigating is also included in that amount and beside the N450b there are sums that come up to N588b that NNPC is still owing to the federation. NNPC has confirmed that it has re-negotiated the N450b and it has started paying by instalment.\u201d<\/span><\/p>\n Mrs Ahmed spoke at the \u00a0She spoke at a workshop for media practitioners and professional associations at Akwangwa, Nasarawa State.<\/span>
The theme of the workshop is: Extractive sector revenue transparency in Nigeria: The Media and professional associations\u2019 engagement.<\/span>
She pointed out that report on the volume of crude oil exported from the country in previous audits is incorrect and unreliable because of the disparity between the information obtained from the Federal Government and the oil firms.<\/span><\/p>\n