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House of Representative has ordered immediate payment N3trn tax owed by NNPC.

9Janewshub.com.ng report that the defunct Nigerian National Petroleum Corporation,  now NNPC limited and its subsidiaries is owing the federal government the sum of N3 trillion in crude oil sales and taxes since 2021 up to February this year.

This was disclosed by the House of Representatives Ad Hoc committee on the “Need to recover outstanding debts owed the federal government by oil and gas companies” chaired by Hon. Nkeiruka Onyejeocha at its inaugural meeting on Tuesday in Abuja.

Consequently, the committee summoned, NNPC, the Central Bank of Nigeria, CBN, Finance ministry and other agencies of government relevant to the probe to appear before it in two weeks and furnish it with information that would help recover the funds.

The lawmakers lamented that huge sums of money belonging to government has been stacked into individual accounts, making it difficult for the implementation of the budget, adding that the trend must be reversed for the country to survive.

Besides, the committee warned it would not tolerate government agencies undermining its efforts to recover public funds meant for the development of the nation.

The committee is yet to receive submissions from NNPC, CBN and the Ministry of Finance which the chairman insisted must oblige with the required documents for investigations.

She said the agencies must do so in two weeks within which it is expected that all outstanding payment would have been made to avoid the necessary legislative sanctions.

The lawmakers are worried that people have continued to do business without paying taxes to government, reason why Nigeria has remained indebted to foreign lenders.

Also, a subsidiary of the NNPC, Eroton exploration and production is said to be owing the federal government $58 million crude oil proceeds, as well as royalty and gas flare taxes

The head, project management office of the company, Dele Aikhionbare who appeared before the committee said the company was making efforts to offset the outstanding and pleaded for more time to fine-tune ways of payment.

He said the company has placed one of its cargo ships on sale so as to raise funds and offset the outstanding.

Not pleased with the submission, the lawmakers who insisted that the company begins immediate payment and as well present a written format to offset the debt on the next adjourned date.

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