The auditors of Nigerian Oil industry, Nigerian Extractive Industry Transparency Initiative (NEITI), yesterday was gathered by sources to have summoned oil companies operating in Nigeria for submission of documents relating to oil production and taxes paid to the government between 2009 - 2011.
By September 19, foreign oil companies such as Shell, Total, Addax, Eni, Chevron and ConocoPhilips as well as indigenous Nigerian producers such as Nigeria LNG Ltd, Conoil, state-owned Nigerian Petroleum Development Company will start submission of documents, as the audit of the oil industry for the period has reached an advance stage, NEITI said.
This documents are required to validate the payments made by companies against receipts by relevant government agencies during the period, while reconciling payments made by companies with data collected by NEITI's auditors.
Large scale of discrepancies have shown in oil production, exports and taxes recorded by the companies and government agencies, previous audits conducted have shown, said NEITI, also they have been cases of missing oil volumes as declared by the state owned Nigerian National Petroleum Corporation (NNPC), an instance is the audit which covered between 2006 - 2008 where there was discrepancy to a tune of $52.5 million in payments by oil companies for licenses during during the said period and that taxes were underpaid to Nigeria to a tune of $2.33 billion which rose from different in records on production.
It was further revealed that there was no record of dividends paid to NNPC to a tune of $3.789 billion within that period by Nigeria LNG as it was not remitted to the federal account.
(Edited by: Blueblock)
Subscribe to:
Post Comments
(Atom)
0 comments:
Post a Comment