• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Business News

Video: NEITI Executive Secretary On How NNPC Withheld FG’s $20 billion

Nairametrics by Nairametrics
April 5, 2017
in Business News
Share on FacebookShare on TwitterShare on Linkedin

Nairametrics| On Tuesday, the Nigeria Extractive Industries Initiative released a report that claimed that Nigeria’s State oil firm NNPC owes billions to the Nigerian Government. In light of this CNBC Africa’s Wole Famurewa spoke to the Executive Secretary of the agency, Waziri Adio for an exclusive full breakdown of the watchdog’s allegations.

Here is the leading quote:

“We calculated that NPDC and NNPC are owing the federation or withholding from the federation the total sum of $21 billion and N316 billion naira. This is money that was supposed to be remitted to the federation account but was not remitted.”

He also broke down the figure to its components:

RelatedStories

University Staff Union slams FG over delayed salaries, demands harmonised payment structure 

University Staff Union slams FG over delayed salaries, demands harmonised payment structure 

June 30, 2025
Weekly Stock Update: Nigerian Exchange Group record growth w-o-w, up by 0.48%

CWG and CAVERTON lead gainers as All-Share Index dips slightly; OANDO prints N19.8 billion trading value 

June 30, 2025
  • NLNG dividends amounts to $15.8 billion from 2000- 2014.
  • NPDC has liabilities due to the federation that amount to $1.4 billion and N70 billion
  • And then he gave some details around the agency’s findings.

“Some assets were divested to NPDC by NNPC. There were 8 assets under the Shell JV. These were OML 4,26,30,34,38, 40, 41, and 42. The country owns 55 percent in these assets and they were divested to NPDC by NNPC between 2010 and 2011, and they were valued at $1.8 bn by DPR. This is something significant that we need to note. PWC did a study that Shell got $2.7 bn for its own 45% stake. Where as our own 55% stake was valued at $1.8 billion. But that’s not the end of the story. Out of that sum NPDC paid only $100 million leaving an outstanding of $1.7 billion, and they continued to enjoy all the benefits that should accrue from full ownership of those assets.”

Here is the link to the full interview:https://www.cnbcafrica.com/videos/2017/04/04/nigeria-state-oil-firm-owes-billions-to-government/

 

Nairametrics

Nairametrics

Nairametrics is Nigeria's top business news and financial analysis website. We focus on providing resources that help small businesses and retail investors make better investing decisions. Nairametrics is updated daily by a team of professionals. Post updated as "Nairametrics" are published by our Editorial Board.

Related Posts

University Staff Union slams FG over delayed salaries, demands harmonised payment structure 
Education

University Staff Union slams FG over delayed salaries, demands harmonised payment structure 

June 30, 2025
Weekly Stock Update: Nigerian Exchange Group record growth w-o-w, up by 0.48%
Equities

CWG and CAVERTON lead gainers as All-Share Index dips slightly; OANDO prints N19.8 billion trading value 

June 30, 2025
NRC generates N1.42 billion moving 675,293 passengers in Q1 2024
Education

NRC partners five tertiary institutions to boost railway tech skills, reduce foreign training 

June 30, 2025
Boosting Nigeria’s Non-Oil Export – Neveah’s World-Class 44,000 MT recycling plant begins production 
Companies

Boosting Nigeria’s Non-Oil Export – Neveah’s World-Class 44,000 MT recycling plant begins production 

June 30, 2025
Without urgent action, Africa risks 40% surge in drug use – NDLEA chairman 
Health

Without urgent action, Africa risks 40% surge in drug use – NDLEA chairman 

June 30, 2025
BIG READ: Amidst drought in funding for Nigerian tech startups, stakeholders proffer 5 solutions
Metrics

Egypt dominates the top African startups funding in May 2025, none from Nigeria 

June 30, 2025
Next Post
Dangote Flour Reports N10.6 billion Profit (2016 FY)

Dangote Flour Reports N10.6 billion Profit (2016 FY)

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng

first bank
Zenth Bank








DUNS

Recent News

  • University Staff Union slams FG over delayed salaries, demands harmonised payment structure 
  • CWG and CAVERTON lead gainers as All-Share Index dips slightly; OANDO prints N19.8 billion trading value 
  • NRC partners five tertiary institutions to boost railway tech skills, reduce foreign training 

Follow us on social media:

Recent News

University Staff Union slams FG over delayed salaries, demands harmonised payment structure 

University Staff Union slams FG over delayed salaries, demands harmonised payment structure 

June 30, 2025
Weekly Stock Update: Nigerian Exchange Group record growth w-o-w, up by 0.48%

CWG and CAVERTON lead gainers as All-Share Index dips slightly; OANDO prints N19.8 billion trading value 

June 30, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics