Thursday, August 18, 2022

2019 Audit Report: 107 Million Barrels Of Crude Oil Missing – AUGF

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The Office of the Auditor-General for the Federation (AUGF) has said the defunct Nigerian National Petroleum Corporation, now Nigerian National Petroleum Company Limited, has failed to account for about 107,239,436 barrels of crude oil lifted for domestic consumption in 2019, ThisDay is reporting.

The disclosure formed part of six audit queries from the Auditor General for the Federation as contained in the Federal Government of Nigeria consolidated financial statements for the year ended December 31, 2019, submitted to the Clerk of the National Assembly via a letter dated August 18th, 2021, and signed by the Auditor General, Adolphus Aghughu.
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The report stated that records from the performance report of two depots revealed that about 22,929.84 litres of premium motor spirit (PMS) valued at N7.06 billion pumped to the two depots (Ibadan-Ilorin and Aba-Enugu) between June and July 2019 were not received by the depots.

AuGF 2019 Audit ReportThe report identified discrepancies between the amount reported by the NNPC as transfer to the federations account and what was reported by the Accountant General of the Federation.
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It also stated that while the NNPC’s records showed that N1,272,606,864,000.00 was transferred by then corporation, the amount recorded by the Accountant General of the federation was N608,710,292,773.44, showing a discrepancy of N663,896,567,227.58.

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Photo Credit: Getty

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