NNPC Reconciles NLNG Dividends with Inter-Ministerial Team

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Joseph Dawha

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THE Nigerian National Petroleum Corporation, NNPC, has clarified the circumstances surrounding the reported non-remittance of the $11.6bn LNG dividends as alleged by the Nigerian Extractive Industries Transparency Initiative, NEITI.

A statement by the Corporation disclosed that contrary to the impression created by NEITI that nothing was being done to get the money remitted, the matter has since been referred to the Inter-Ministerial Task Team, IMTT, for reconciliation and resolution.

“At the last meeting of the IMTT, it was resolved that the minister of petroleum, chairman of NEITI, executive secretary of NEITI, and the group managing director of NNPC should meet on the issue of NLNG dividends and report back to the IMTT.

“Unfortunately, that meeting has not held. However, another meeting of the IMTT is coming up next week and the issue will be taken up from there.

“NEITI as a member of the IMTT is aware of the ongoing efforts to reconcile and resolve the issue of NLNG dividend remittance,” a statement issued by Ohi Alegbe, group general manager, Public Affairs Department of NNPC said on June 10.

— Jun 11, 2015 @ 11:45 GMT

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