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NNPC Can’t Account For 107m Barrels Of Crude – Auditor-General

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4 years ago

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The Office of the Auditor-General for the Federation says the defunct Nigerian National Petroleum Corporation, now Nigerian National Petroleum Company (NNPC) Limited, has failed to account for about 107,239,436 barrels of crude oil lifted for domestic consumption in 2019.
Making the allegation in its 2019 audit report presently being considered by the Committees on Public Accounts at the Senate and House of Representatives, NNPC said about 22,929.84 litres of Premium Motor Spirit, also known as petrol, valued at N7.06billion and pumped to the two depots (Ibadan-Ilorin and Aba-Enugu) between June and July 2019 were not received by the depots.
These are part of the issues raised by the office in the six audit queries issued against the NNPC.
The report noted discrepancies between the amount reported by the NNPC as transfer to the Federations Account and what was reported by the Office of the Accountant-General of the Federation.
While the NNPC records showed that N1,272,606,864,000 was transferred by the corporation, the Accountant-General of the Federation said it was N608,710,292,773.44, leaving a gap of N663,896,567,227.58.
Consequently, the auditor-general said the Group Managing Director of the NNPC should be asked to explain the discrepancy between the two figures and remit the balanceof N663,896,567,227.58 to the Federations Account or face sanction.
According to the report, NNPC transferred the sum of N519,922,433,918.46 to the Federation Account based on transfer mandates.
The Auditor-General, therefore, demanded that the NNPC provides “reconciliation statement for the difference of N88,787,862,853.96 between AGF’s figure of N608,710,296,772.42 and NNPC’s figure per transfer mandate of N519,922,433,918.46.”
The office alleged possible diversion of domestic crude, diversion of sale of un-utilised crude as well as loss of Federation Account revenue, saying the management of the NNPC failed to respond to the audit query.
The report said, “The Group Managing Director of NNPC is requested to provide the complete schedule of allocation of Crude Oil to Refineries from 1st January to 31st December, 2019, furnish details of the sale of un-utilized crude oil and reconcile it with total domestic crude oil of 107,239,436.00 bbls lifted in 2019 and remit amount realised from sale of un-utilized crude oil to the Federation Account.”
Citing Section 162(1) of the 1999 Constitution, the Auditor-General said the NNPC spent $6.410m (N1.955tn at N305/$1) to fund Joint Venture Cash Calls and other federally-funded upstream projects such as gas infrastructure development, Brass LNG, crude oil pre-export inspection agency expenses, frontier exploration services, EGTL operating expenses and NESS fee; and another N55.157bn on pipeline security and maintenance without first paying the money into the Federations Account.
The OAuGF said the GMD of NNPC should justify non-adherence to the transfer of all federation revenue to the Federation Account as provided by the Constitution and ensure that all revenue is paid into the federation account, going forward.
The report further read, “The audit examination on ‘Schedule of Inflow of Revenue’ by NNPC to Federation Account obtained from the Office of the Accountant-General of the Federation revealed that the Domestic Gas Receipts of N4.572 billion was transferred to Federal Inland Revenue Service (FIRS) Petroleum Profit Tax (PPT)-Gas in the month of January 2019, and was not made in the subsequent months of the year.
“This transfer reduced the amount due to Federation Account for the month of January, 2019 to the tune of N4.572 billion leading to possible reduction of distributable revenue in the Federation account, misapplication of funds and diversion of revenue.”
The office alleged that about 22,929.84 litres of PMS valued N7,056,137,180.00 pumped to two depots in the country in 2019 were not received by the depots, while no reason was advanced by the NNPC for the non-receipt of the product, demanding that the value of the products be remitted to the Federation Account.
239,800 bbls of crude oil valued at N5.498bn was received in Warri and Kaduna refineries, respectively, between January and December 2019, with the source of the crude not validated due to the absence of source documents, while money was allegedly classified as crude oil losses without duly completed form 146 to be processed for further investigation.

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KALCCIMA PROMISES KALABARI ECONOMIC GROWTH, INAUGURATES NEW EXECUTIVES

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5 days ago

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January 2, 2026

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The Kalabari Chamber of Commerce, Industry, Mines and Agriculture (KALCCIMA) has formally inaugurated its new executive council at a ceremony marked by optimism, strong institutional backing, and renewed commitment to economic development in Kalabari land.
The inauguration was performed by the National Deputy President of the National Association of Chambers of Commerce,Industry, Mines and Agriculture (NACCIMA), Dr. Emi Membere-Otaji, who charged the new leadership to position KALCCIMA as a catalyst for inclusive growth, enterprise development, and strategic engagement with government and the private sector.
The newly inaugurated officers of KALCCIMA are:
Elder Monima Daminabo (President); Amb. Clement Akanibo (First Deputy President); Boma Kaladokubo (Second Deputy President); Harry Awolayeofori Macmorrison (Executive Secretary/Director-General); Faaye Franklin (Treasurer); Engr. Robinson Success (Financial Secretary); Ibiba Don-Pedro (Public Relations Officer); Princess Nancy Boma Princewill (Organising Secretary); Barr. Idaoyibo Fortune Igbikikuno (Legal Adviser); Abiye George (Welfare Officer).
In his keynote address, Dr. Membere-Otaji congratulated the Exco and emphasized the strategic importance of a vibrant local chamber to regional and national economic growth.
He urged the leadership to align KALCCIMA’s programmes with NACCIMA’s national vision, stressing professionalism, transparency, and innovation in advancing commerce, mining, agriculture, and small and medium-scale enterprises in Kalabari.
“The Chamber must become a rallying point for entrepreneurs, investors, and policymakers. Kalabari has immense economic potential, and KALCCIMA must provide the structure and leadership to unlock it,” he said.
Also speaking, the Chairman of the Board of Trustees, Prince Billy Harry, charged the Exco to lead with integrity, unity, and purpose.
He encouraged them to move beyond ceremonial roles and focus on tangible outcomes that would uplift Kalabari communities, empower youth and women, and attract sustainable investments.
In his acceptance remarks, Elder Daminabo expressed gratitude to NACCIMA, the Board of Trustees, and stakeholders for their confidence in the new leadership.
He assured members that the Exco would prioritize stakeholder engagement, capacity building, and partnerships aimed at stimulating trade, supporting local industries, and promoting agricultural and maritime opportunities unique to the Kalabari axis.
Goodwill messages poured in from notable professionals and stakeholders, including Arc. Eniye Braide, Arc. Danny Sokari George and Ebianga Bestmann, all of whom commended the inauguration and expressed confidence in the capacity of the new Exco to reposition KALCCIMA as a strong voice for economic advocacy and development.
They urged the Chamber to leverage Kalabari’s strategic location, cultural heritage, and human capital to foster entrepreneurship, attract investments, and contribute meaningfully to the economic prosperity of Rivers State and Nigeria at large.
The inauguration ceremony ended on a note of collective resolve, with stakeholders expressing hope that the new leadership would usher in a new era of relevance, impact, and sustainable development for KALCCIMA and the entire Kalabari nation.
By: Opaka Dokubo
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NCDMB Begins Nigerian Content Research, Innovation and Technology Challenge

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5 days ago

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January 2, 2026

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The Nigerian Content Development and Monitoring Board (NCDMB), in December 2025 commenced the Nigerian Content Research, Innovation and Technology Challenge 2025/2026 edition.
The Board called on interested individuals, research institutions, academia, oil and gas industry suppliers, and members of the public with research innovations, to submit proposals for evaluation and admission into the NCDMB Technology Innovation and Incubation Centre (TIIC), Yenagoa, Bayelsa State.
The Tide learnt that the competition, which seeks to identify and develop new technologies to address specific challenges in the oil and gas industry and its linkage sectors, requires that proposals be in line with approved thematic areas and priority industry challenge, namely, Geological and Geophysical Studies, Local Materials Substitution Studies, Technology Development Studies, Health, Safety and Environmental Studies, Engineering Studies, and Renewable Energy.
For Geological and Geophysical Studies, proposals have to focus on developing solutions related to exploration, big data, and real time logging data processing, while those for Local Materials Substitution Studies have to concentrate on sustainable materials for environmental remediation, materials for development of cryogenic technology for liquefied natural gas (LNG), refinery, and other applications, as well as local materials for ultra-high temperature pressure cementing.
For Technology Development Studies, the NCDMB requires innovation on denationalization technology, application of Internet of Things to exploration and production, and condensate refining technology, while proposals for HSE Studies are expected to deal with carbon capture utilisation and storage technology to reduce greenhouse emission, depollution and produced water management system, and hydrogen production techniques to enhance carbon dioxide capture.
In respect of Engineering Studies, proposals are expected for developing technology solutions for enhanced oil recovery, refinery units technology to improve efficiency, laboratory analytical equipment for experiment and materials testing, and drilling technology, instrumentation, and control systems.
For Renewable Energy, the Board said proposals are expected from solar energy technologies, wind energy solutions, and energy storage systems, such as battery technologies, hydrogen storage, thermal storage, and molten salts.
The NCDMB noted that the proposals, which should not be more than 1,500 words were to be submitted via email address (info@tiic.com.ng) not later than a month from the date of publication were also required to be in the following format: Company/institution name, Thematic area, Title of innovation, Description of innovation, and Objective, vision and mission.
Others are, Team structure, Funding model and budget estimate, Marketing plan, and Risk analysis.
In a statement from the Directorate of Corporate Communications of the NCDMB quoted the management of the Board as saying that at the first stage of the competition, the top 30 proposals will be selected and the teams assigned mentors to guide them towards developing a compelling demo and presentation, while proposals will be reduced to 10 at the second stage, and further reduced to five on the final day of the competition where the winners will be determined.
“The innovators will present their business pitches/demos to corporate venture capitalists to invest, drive innovation, and expand market reach, while helping emerging businesses to grow.
“Prizes will be awarded to the top five winners of the competition in the form of cash, mentorship opportunities, and media coverage, while the top 10 participants will be onboarded into the TIIC at the Nigerian Content Tower for guidance and further development of their innovation to commercialisation”, the NCDMB said.
By Ariwera Ibibo-Howells, Yenagoa
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Ikuru Town Issues Start-Up Grants, Packs To Skill Acquisition Graduands 

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5 days ago

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January 2, 2026

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As parts of efforts to enhance the livelihood of the people in the season of celebration, the Ikuru Town Host Community Development Trust (HCDT), has distributed christmas packages worth about N50m to the people of the trust.
The condiments, including 10kg of rice, vegetable oil, tin tomato, and maggi cubes were distributed to over 2,500 households in Ikuru Town community.
The HCDT also issued start-up grants of N200,000 alongside starter-packs to each of the 13 graduands of its Skill Acquisition Programme.
Speaking to journalists at the Ikuru Town HCDT Community Town Hall meeting and Sharing of Livelihood Support Items programme, in Ikuru Town, Andoni, Rivers State, Monday, the Chairman, Ikuru Town HCDT, Prof. Lysias D Gilbert, said the gesture was the birth of the 3% derivative of the Petroleum Industry Act (PIA) of Its settlors, the  Green Energy International Limited and Lekoil (GEIL/LEKOIL JV).
Gilbert who noted with dismay the high rate of poverty in the country opined that some households may be unable to afford the condiments of the season, insisting that the gesture was to fill the gap for such households and individuals.
According to him, the Ikuru Town HCDT is aimed at developing the community and boosting the livelihood of its people.
“Remember, the rate of poverty in Nigeria is high. A lot of people cannot even afford a cup of rice in December like this. We have come to share these condiments to well about 2,500 households. To those who are living on their own in the community including single mothers and widows. This is to put smiles on their faces, giving them hope that the community has not forgotten them”.
Gilbert said that the HCDT, as part of its empowerment programme for the youths of the community, trained 13 youths comprising of males and females in different skills of pipefitting, hairstyling, photography/video editing, fashion designing, mobile phone repair, welding and fabrication and hair cutting.
In his words “we empowered 13 persons. We picked 15 of our youths, took them to PortHarcourt for a period of 12 months.
We rented an apartment for them, one for the boys and another for the ladies, paid them stipends to enable them feed and transport themselves, and trained them in these different skills”.
Out of the 15, 13 of them successfully graduated and some of them have secured jobs with reputable companies based on their acquired skills. We took them from the community, so, today, we have brought them back to the community, to present them as parts of our achievements in 2025″.
While noting that the HCDT had been consistent in the gestures for the past three years, Gilbert urged the beneficiaries to maximise the opportunity for their individual growth and community development.
He further outlined the HCDT’s achievements to include the community legacy water project which he said would be commissioned before the end of the first quarter, renovation and refurbishment of the community’s secondary school and public toilets, employment of six auxiliary teachers to support the teaching staff in the primary and secondary schools, award of bursary to 801 beneficiaries across all educational levels amongst others.
Beneficiaries of the livelihood support and skill acquisition programme lauded the Ikuru Town HCDT for the gestures and called for continuity.
A graduand in fashion designing, Julia Raymond, said “on behalf of the trainees, I say a very big thank you to the Ikuru Town HCDT. They were there for us at every level of our training. We have acquired a lifetime skill that can sustain us with our parents and siblings and it has been beneficial to us especially in this festive period. I can assure the HCDT that we will make good use of the opportunity “.
Earlier, the Okan-Ama of Ikuru Town, HRM King Miller Aaron Ikuru, expressed gratitude for the peace that has prevailed in the community insisting that it has paved the way for the event of the day.
Represented by the Deputy Okan-Ama, Ikuru Town, Sir Chief Micheal Williams Omayi, King Ikuru said “for today, to God be the glory because peace has finally returned to Ikuru Town. I call on everyone for cooperation and understanding so that we can forge ahead to achieve the developmental process in Ikuru Town.
“The HCDT has done very well to boost the skills of the youths. I encourage the graduands to take the skills seriously for their betterment “.
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A Por Harcourt based businessman, Chinonye Okoha Esq has said that businesses in Nigeria are likely to prosper in 2026 following the Federal Government’s policy reforms.
Mr. Okoha who stated that while speaking with journalist in Port Harcourt on New Year day, remarked that despite initial hiccups at the beginning of the present administration, the economy had gradually bounced back.
He said he was optimistic that the Renewed Hope Agenda would fix the economy in a short time.
He said that the spiral inflation had ebbed drastically giving way for a economic growth.
Mr. Okoha noted the prices of commodities that soared as a result of fuel subsidy had become more stable in recent times.
He encouraged Nigerians to support the present administration so it could deliver the necessary dividends of democracy.
According to him, it is likely that if President Ahmed Bola Tinunu’s administration is encouraged to achieve its vision for the country, the Nigerian economy will bounce back and the country will be a desired business destination.
He condemned the restiveness in the North and noted that such things were setting the country back.
He pointed out that Nigeria would be a better business destination if the activities of the bandits were halted.
He lauded the present administration for its plan to fix the Nigerian economy.
By: Lady Godknows Ogbulu
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