The House of Representatives Committees on Finance, Petroleum Upstream, and Petroleum Downstream has been tasked to investigate Nigerian National Petroleum Corporation Limited.
PERISCOPE NIGERIA reports that the investigation is a sequel to alarm raised by the Revenue Mobilisation, Allocation, and Fiscal Responsibility Commission alleging that the NNPC withheld N8.48 trillion as claimed subsidies for petrol.
Additionally, the investigation will address the NEIT report stating that NNPC failed to remit $2 billion (N3.6 trillion) in taxes to the Federal Government.
The committees are further directed to verify the total cumulative amount of unremitted revenue (under-recovery) from the sale of Premium Motor Spirit (PMS) by the NNPC between 2020 and 2023.
