The House of Representatives on Tuesday raised the alarm that the Nigerian National Petroleum Company Limited (NNPCL) had willfully withheld public revenue to the tune of two trillion naira.

Hon. Uduak Odudoh who raised the allegation in a motion accused the NNPCL of disrespecting and downplaying the collective intelligence of Nigerians.

He stated In the motion that Section 162(1) of the Constitution of the Federal Republic of Nigeria, 1999 (as amended) provides for “The Federation Account” in which all revenues collected by the Government of the Federation except such exempted therein are paid.

He noted that the said “Federation Account” belongs to the entire federation while the Federal Government keeps the same in trust on behalf of three tiers of Government in Particular and Nigerians at large.

He added that the Allocation of Revenue l Act prescribes the basis for the distribution of revenue accruing to the federation account between the Federal, State Governments and Local Government Areas in Nigeria.

The lawmaker argued that national development largely depends on how transparent and accountable relevant government agencies and corporate entities are in the collation, remittance and distribution of revenues solely acquired.

“Convinced that section 6 of the Allocation of Revenue (Federation Account, e.t.c) Act, established the “Federation Account Allocation Committee (FAAC)” to among other functions, report annually to the National Assembly in respect of the function under the Act;

“Also convinced that the non-remittance of crude sales, royalties and taxes by the Nigerian National Petroleum Company Limited (NNPCL) into the Federation Account has been a reoccurring decimal and a sad narrative constituting a subject matter without opposing views”, he added.

Odudoh recalled that the Federation Account Allocation Committee (FAAC) had severally accused the NNPCL of short-changing it by refusing to pay over two trillion naira to the Federation Account from crude sales, royalties and taxes.

He said Nigerians were also aware that the NNPCL had consistently averred that the Federal Government owed it over four trillion naira of subsidy payments, power debt and other sundry charges and therefore would not remit until the debts are recovered.

According to him, the non–remittance accusation and counter-accusation are tantamount to a calculated attempt to disrespect and downplay the collective intelligence of Nigerians.

The house, therefore, asked the committee of finance (when constituted) to investigate the matter. (The Guardian)

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