NIGERIAN GOVERNORS FORUM HAVE RAISED CONCERN OVER THE CONTINUED FAILURE OF THE NIGERIAN NATIONAL PETROLEUM COMPANY LIMITED (NNPC) TO REMIT OIL REVENUE INTO THE FEDERATION ACCOUNT
THE FORUM CANVASSES FOR THE STATES TO BE ALLOWED TO PARTICIPATE IN THE OIL SECTOR
THE GOVERNORS SAY THEY ARE WORRIED THAT NNPC WAS DECLARING PROFITS, WHILE FAILING TO FULFIL ITS BASIC OBLIGATION OF REMITTING REVENUE GENERATING FROM CRUDE OIL SALES INTO FEDERATION ACCOUNT
THE FORUM CHAIRMAN, KAYODE FAYEMI EXPRESSED THE CONCERN AT THE NATIONAL RESOURCES AND NIGERIA INTERNATIONAL ENERGY SUMMIT 2022 IN ABUJA
THE GOVERNORS SAY THAT SIMPLE KNOWLEDGE OF ECONOMICS SAYS THAT ONE MUST MEET ALL ITS OBLIGATIONS BEFORE DECLARING PROFITS
CALLING FOR TRANSPARENCY IN THE OIL REVENUE MANAGEMENT, THE GOVERNORS SAID THEY ALSO WORRIED THAT NIGERIA RANKED 40 OUT OF 58 NATURAL RESOURCES COUNTRIES ON THE TRANSPARENCY INDEX BECAUSE NIGERIA’S OIL SECTOR IS LARGELY OPAQUE.