The Revenue Mobilisation Allocation and Fiscal Commission has commended the management of the Nigerian National Petroleum Corporation on its efforts at improving accountability and transparency in the corporation.
The Acting Chairman of RMAFC, Alhaji Shettima Gana, gave the commendation in a statement released by the NNPC Spokesman, Ndu Ughamadu, in Abuja on Wednesday.
He said RMAFC, as a revenue monitor and auditor, was satisfied with the steps taken so far by the Group Managing Director of the NNPC, Dr Maikanti Baru.
According to Gana, the Baru-led management had improved accountability and transparency such as the publication of the Corporation’s Monthly Financial and Operations Report, which he described as ”a radical departure” from the past.
He said: “The RMAFC would continue to regularly interface with NNPC to ensure that the Federation Account is properly funded.
“The commission stayed away from the recent controversy over remittances because it believed that such issues could be resolved amicably through proper dialogue.”
He called for the enhancement of NNPC businesses through the allocation of more oil assets to enable it operate like other national oil companies across the globe.
Gana said as an entity that generates about 80 per cent of the nation’s revenue, there was need for the Federal Government to empower the Corporation to generate more revenue to take care of the nation’s growing population.
Responding, Baru, explained that NNPC, apart from being a Federal Government agency that supervises government’s investment in the oil and gas industry, was also a business enterprise and petroleum products supplier of last resort.
He said since September 2017 when most of the major marketers stopped importation of petroleum products, NNPC had been importing petroleum products to guarantee energy security.
He called on RMAFC, as an independent arbiter, to use its privileged position to ensure recovery of cost borne by NNPC on behalf of the Federal Government.