Human rights activist, Femi Falana (SAN), has filed a suit at the Federal High Court in Abuja in which he is seeking to compel the Muhammadu Buhari administration to recover the sum of $40 billion and N481 billion based on the audit of the extractive industry carried out by the Nigeria Extractive Industry Transparency Initiative (NEITI), an agency of the Federal Government.

This was disclosed in a statement issued by Tayo Soyemi for Falana and Falana Chambers.

According to the statement, in the originating summons, Mr Falana is asking the Federal High Court to grant the following reliefs:

1. A DECLARATION that by the express provisions of Sections 2 (a), (b) and 3 (f) of the Nigeria Extractive Industry Transparency Initiative Act, the 1st defendant is under a legal obligation to recover the unremitted sums of $22.06 Billion and N481.75 Billion Naira owed the Federal Government of Nigeria by the Nigerian National Petroleum Corporation (‘NNPC”); the Nigeria Petroleum Development Company (“NPDC”) and other oil and gas companies operating in Nigeria.

2. A DECLARATION that by the express provisions of Sections 2 (a), (b) and 3 (f) of the Nigeria Extractive Industry Transparency Initiative Act, the 1st defendant is under a legal obligation to recover the sum of $28Billion lost in revenues that are due to the Federal Government of Nigeria due to failure to review the terms of the 1993 Production Sharing Contracts “PSCs” with International Oil Companies, in line with Section 16 (2) of the Deep Offshore and Inland Basin Production Sharing Contract Act, Cap D3, Laws of the Federation, 2004.”

3. A MANDATORY ORDER of the court directing the 1st defendant to recover the unremitted sums of $22.06 Billion and N481.75 Billion Naira owed the Federal Government of Nigeria by the Nigerian National Petroleum Corporation (“NNPC”); the Nigeria Petroleum Development Company (“NPDC”) and other oil and gas companies operating in Nigeria.

4. A MANDATORY ORDER of the Court directing the 1st defendant to recover the sum of $28Billion lost in revenues that are due to the Federal Government of Nigeria due to failure to review the terms of the 1993 Production Sharing Contracts “PSCs” with International Oil Companies, in line with Section 16 (2) of the Deep Offshore and Inland Basin Production Sharing Contract Act, Cap D3, Laws of the Federation, 2004.

In the affidavit in support of the originating summons, Mr Falana stated that he had confirmed from NEITI that the Federal Government had failed to recover the outstanding sums of $22.06 Billion and N481.75 Billion owed by the Nigerian National Petroleum Corporation (‘NNPC”) and the Nigeria Petroleum Development Company (“NPDC”) and other unremitted payments by some International Oil Companies.

In addition to the unremitted fund, the senior advocate wants the government to recover the sum of $28 Billion oil revenues which according to him, were lost due to the failure to review the terms of the 1993 Production Sharing Contracts “PSCs” in line with Section 16 (2) of the Deep Offshore and Inland Basin Production Sharing Contract Act, Cap D3, Laws of the Federation, 2004.

Mr. Falana who attached the audited reports of the NEITI to the supporting affidavit further stated that “Nigeria is presently losing much needed revenue due to the failure of the Federal Government to ensure that all payments due to the Federal Government of Nigeria from all extractive industry companies involved in the Production Sharing Contracts, including taxes, royalties, dividends, bonuses, penalties, levies and such like are duly paid to the Federal Government of Nigeria.”

The suit is based on the provisions of the Nigeria Extractive Industry Transparency Initiative Act which have imposed a duty on the Federal Government to implement the audit reports of NEITI.

The Attorney-General of the Federation and NEITI are the defendants in the suit. Although the Federal High Court has not fixed a date for the hearing of the suit, the defendants have not filed their defence. (Channels TV)

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