Sunday , July 25 2021
Home / Energy / The Senate clarifies that $1.05bn NLNG Dividend not missing

The Senate clarifies that $1.05bn NLNG Dividend not missing

  

GLADYS JOHNSON

Senator Bassey Albert, Chairman of the Senate Committee on Gas, recently clarified that the ongoing investigation of the application of $1.05billion Nigeria Liquefied Natural Gas (NLNG) dividend to support the importation of petroleum products into the country has nothing to do with any missing funds since no such money was missing in the first place.

He said the mandate of the Committee was to determine the instrument under which NNPC relied upon to affect the said withdrawal and subsequent application of the NLNG dividend to meet pressing national demand for fuel supply, noting that the Committee relies on NNPC to provide informed perspective on the issues.

The Senate Committee Chairman emphasized that the engagement with NNPC was to understand the rudiments of the account flow and also to discover how the Committee, working in harmony with NNPC, could make the NLNG dividend more effective and beneficial to the nation.

Responding, Mr. Isiaka Abdulrazaq, Chief Financial Officer (CFO) of NNPC, who represented the corporation’s Group Managing Director, Dr. Maikanti Baru, pledged the willingness of the corporation to support the Committee in its assignment, saying that relevant documents have been supplied to the panel to enable it determine the veracity or otherwise of NNPC’s perspective.

About Gladys Johnson

Gladys Johnson The Publisher/Editor-In-Chief Global Business Drive Phone: +13465619347, +19796619107 Email: gladysjohnsonmedia@gmail.com, globalbusinessdrive@gmail.com

Check Also

New digital EnergyHub to drive Nigerian oil, gas industry operations – Expert 

Stakeholder in the oil and gas industry has stressed that a new digital platform, EnergyHub …

Leave a Reply

Your email address will not be published. Required fields are marked *