ADVERTISEMENT
  • The Membership Club
  • PT Hausa
  • About Us
  • Advert Rates
  • Careers
  • Contact Us
Wednesday, January 20, 2021
Premium Times Nigeria
  • Home
  • COVID-19
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Opinion
  • Health
    • News Reports
    • Investigations
    • Data and Infographics
    • Health Specials
    • Features
    • Events
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Research & Innovation
    • Data & Infographics
    • Special Reports/Features
    • Investigations
    • Interviews
    • Markets
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • Projects
    • Parliament Watch
    • Panama Papers
    • Paradise Papers
    • AGAHRIN
  • Home
  • COVID-19
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Opinion
  • Health
    • News Reports
    • Investigations
    • Data and Infographics
    • Health Specials
    • Features
    • Events
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Research & Innovation
    • Data & Infographics
    • Special Reports/Features
    • Investigations
    • Interviews
    • Markets
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • Projects
    • Parliament Watch
    • Panama Papers
    • Paradise Papers
    • AGAHRIN
Premium Times Nigeria
BUA Group Ad BUA Group Ad BUA Group Ad
ADVERTISEMENT
Nigeria's Former Minister of Petroleum Diezani Allison-Madueke

Nigeria's Former Minister of Petroleum Diezani Allison-Madueke

Missing $20 billion: Rep lambasts Okonjo-Iweala, Alison-Madueke for withholding report

byTaiwo-Hassan Adebayo
March 13, 2015
3 min read

A member of the House of Representatives, Moshood Mustapha, has criticised the Minister of Finance, Ngozi Okonjo-Iweala, and her Petroleum Resources counterpart, Diezani Madueke, for refusing to release the forensic audit report on the operations of the Nigeria National Petroleum Corporation, NNPC.

Mr. Mustapha, a member of All Progressives Congress from Kwara State, is the Vice-Chairman, House Committee on Petroleum Resources.

The audit, undertaken by international firm PriceWaterHouseCoopers, indicted the NNPC and recommended that the national oil company refund about $1.48billion to the Federation Account for various unreconciled transactions.

The investigation was carried out over claim that $20 billion oil money had not been accounted for the government-owned company.

The Nigerian government has refused to make the report public despite public outcry. President Goodluck Jonathan only ordered the release of a “highlight” of the report early February, several months after the completion of work by PwC.

Analysts believe the report contains far more serious indictment than reflected in the “highlight”, hence the government’s decision to keep the document under wraps as a crucial election approaches.

In February, Ms. Alison-Madueke said the report will not be published ahead of the elections because Nigeria’s “rabid opposition” will find “all sorts of minute detail (in the full report) to create concern.”

Mrs. Okonjo-Iweala and Alison-Madueke have refused to release the report despite a one-week ultimatum by the House of Representatives.

Speaking to PREMIUM TIMES, Mr. Mustapha condemned the refusal to publish the audit report, describing it as “part of characteristic impunity that defines this government”.

RelatedNews

Court adjourns suit challenging freezing of #EndSARS campaigners’ account

Assembly denies impeachment plot against Bayelsa Gov

VIDEO: How communal crisis set back my farming business – Susan Godwin

APC wins Kano LG election

“A minister will feel she can do anything since she has a president that tolerates corruption or when she can go to the judiciary for injunctions to prevent the legislature from doing their constitutional work,” he said.

“Even if she does not honour the ultimatum issued to her to submit the audit report, we could have asked the police to arrest her but is the police independent under this administration to act rightly? But then, we allow Nigerians to see and judge them. And that’s why change is imminent come March 28. It’s not about Sarakis, Buharis, Ameachis but Nigerians’ determination to stop impunity and misgovernance,” he said.

He added that, “it seems to me as insanity when a government sees constructive criticism of the opposition as frustration. For me criticism from APC should make the PDP government more hardworking and do better in terms of governance, having had the consciousness some people are there to check them. Democracy as well as good governance is not possible without viable opposition,”

Dangote adbanner 728x90_2 (1)

Mr. Mustapha said the current setting of Nigeria’s petroleum industry is characterised by a lack of transparency and accountability. This, he said, denies the government and citizens “huge funds that should have been freed up for developmental purposes.”

“The way it is nobody knows the quantity of oil we produce. Nobody knows what we earn daily, monthly or yearly. Nobody knows what we pay as part of our obligations in the exploration of crude oil. Nobody knows the account into which proceeds paid and in certain and transparent terms, what goes into the federation account daily.

“Let me give you an example which many find inconsequential but which in reality affects our development drive in this country. The funds meant for operation of Petroleum Trust Development Fund (PTDF) are not being remitted. With that, many of our citizens on scholarship abroad have been abandoned and not been funded adequately. Similarly, PTDF has been stifled and finds it difficult to perform its even domestic obligations in different areas including education which is the bedrock of any development,” he said.

Responding to the question of solution to the absence of accountability and transparency in the petroleum industry, the lawmaker said, “The way out is to have the Petroleum Industry Bill in place. “

“It is to regulate the oil and gas industry and promote transparency, accountability and best practices. It will also reform the regulatory, structural, commercial, as well as the fiscal framework of Nigeria’s petroleum industry in order to stop the mismanagement, inefficiency and lack of transparency that characterise the sector.”

He said the National Assembly was careful in passing the law to ensure Nigerians are given the best provisions.

ADVERTISEMENT
  • WhatsApp
  • Tweet
  • Email
  • Print
  • Telegram
  • More
  • Share on Tumblr
  • Pocket

Support PREMIUM TIMES' journalism of integrity and credibility

Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.

For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.

By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.

Donate


TEXT AD: To advertise here . Call Willie +2347088095401...


JOIN THE CONVERSATION

  • Disqus (137)
premiumtimes



PT Mag Campaign AD

Previous Post

Oba of Benin assures Jonathan of election victory

Next Post

Keeping It Real With Adeola – (Stone Those Talking About Change – Patience Jonathan)

Taiwo-Hassan Adebayo

Taiwo-Hassan Adebayo

More News

Anchor University

Anchor University Deputy VC kidnapped

January 20, 2021
Slain security man, Odion Omoera

Gunmen kill private security guard in Benin

January 20, 2021
British High Commission

UK-Nigeria Tech Hub launches virtual capacity building programmes

January 20, 2021
Access-Bank

Access Bank seeks presence in eight African countries to tap AfCFTA opportunities

January 20, 2021
Tiffany Trump announced her engagement to her Nigerian-Lebanese lover, Michael Boulus, on her father's last day in office (Photo Credit: Tiffany Trump Instagram)

Trump’s daughter announces engagement to Nigerian-Lebanese

January 20, 2021
Nigeria’s economy suffers from floods

Border Closure: Nigeria spent N1.85 trn on food importation — Salami

January 20, 2021
Next Post
Keeping It Real With Adeola – (Stone Those Talking About Change – Patience Jonathan)

Keeping It Real With Adeola - (Stone Those Talking About Change - Patience Jonathan)

CHANGE OF NAME: Mrs. Victoria Vihimga Terseer Gundu

Discussion about this post

Search

#EndSARS: Latest Updates




Polaris Bank


JAIZ Ad


NITDA Ad




Advertisement






netherland biz school Advert

Zenith Advert

Heritage Advert
ADVERTISEMENT

Our Digital Network

  • PT Hausa
  • Election Centre
  • Human Trafficking Investigation
  • Centre for Investigative Journalism
  • National Conference
  • Press Attack Tracker
  • PT Academy
  • Dubawa
  • LeaksNG
  • Campus Reporter

Resources

  • Oil & Gas Facts
  • List of Universities in Nigeria
  • LIST: Federal Unity Colleges in Nigeria
  • NYSC Orientation Camps Address Nationwide
  • Nigeria’s Federal/States’ Budgets since 2005
  • Malabu Scandal Thread
  • World Cup 2018
  • Panama Papers Game
  • Our Digital Network
  • About Us
  • Resources
  • Projects
  • Data & Infographics
  • DONATE

All content is Copyrighted © 2020 The Premium Times, Nigeria

No Result
View All Result
  • Home
  • COVID-19
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Health
    • News Reports
    • Investigations
    • Data and Infographics
    • Health Specials
    • Features
    • Events
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Research & Innovation
    • Data & Infographics
    • Special Reports/Features
    • Investigations
    • Interviews
    • Markets
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • Projects
    • Panama Papers
    • Paradise Papers
    • Parliament Watch
    • AGAHRIN
  • Opinion
  • PT Hausa
  • The Membership Club
  • Dubawa
    • Dubawa NG
  • About Us
  • Advert Rates
  • Careers
  • Contact Us
  • Digital Store
  • DONATE

All content is Copyrighted © 2020 The Premium Times, Nigeria

Our website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
loading Cancel
Post was not sent - check your email addresses!
Email check failed, please try again
Sorry, your blog cannot share posts by email.