The house of Representatives has mandated its committee on finance when constituted, to investigate the non remittance of taxes to the Federal Government Account by the Nigeria National Petroleum Company Limited.
Adopting a motion moved by a member from Akwa Ibom state Mr Uduak Odudoh on the matter, the house also mandated the committee to investigate the accusation by the federation account allocation committee.
Leading the debate, the lawmaker stated that the non remittance of crude sales, royalties and taxes by the Nigerian National Petroleum Company Limited (NNPCL) into the Federation Account has been a reoccurring decimal and a sad narrative constituting a subject matter without opposing views.
According to him, the Federation Account Allocation Committee (FAAC) had severally accused the Nigerian National Petroleum Company Limited (NNPC) of short-changing it by refusing to pay over 2 trillion naira to the Federation Account from crude sales, royalties and taxes.
“Also aware that the fate of the National Development largely depends on how transparent and accountable relevant Government agencies and corporate entities are in the collation, remittance and distribution of revenues solely acquired.
“Convinced that section 6 of the Allocation of Revenue (Federation Account, e.t.c) Act, established the
“Federation Account Allocation Committee (FAAC)” to among other functions, report annually to the
National Assembly in respect of the function under the Act.
He added that the Nigerian National Petroleum Company Limited averred that the Federal Government owed it over four (4) trillion naira of subsidy payments, power debt and other sundry
charges and therefore would not remit until the debts are recovered.
Odudoh observed that the non-remittance accusation and counter accusation are tantamount to a
calculated attempt to disrespect and downplay the collective intelligence of Nigerians.