Help recover excess revenues… NNPC urges RMAFC

The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), has been called upon to ensure recovery of revenues borne by the corporation on behalf of the Federal Government as an independent arbiter.

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru made the call during a courtesy visit by the Acting Chairman of RMAFC, Shettima Abba-Gana, to the corporation.

Baru said the NNPC, apart from being a Federal Government agency that supervises government investment in the oil and gas industry, was also a business enterprise and petroleum products supplier of last resort.

The GMD, also in a statement, said since September 2017 when most of the major marketers stopped importation of petroleum products, NNPC, as the supplier of last resort, had been importing petroleum products to guarantee energy security.

He, therefore, urged the RMAFC, as an independent arbiter, to use its position to ensure recovery of revenues borne by NNPC on behalf of the Federal Government.

Abba-Gana, commended the corporation for its efforts at improving accountability and transparency.

He however added that, RMAFC, as a revenue monitor and auditor, was satisfied with the steps taken so far by the Baru-led management to improve accountability and transparency.

He said the commission would continue to regularly interface with NNPC to ensure that the Federation Account was properly funded.