The Nigerian National Petroleum Corporation, NNPC, generated about N8.1trillion between 2012 and May 2015, but paid only N4.3trillion to the federation account. The balance of the oil money – about N3.8trillion – was withheld and spent by the Presidency and NNPC big boys unilaterally without approval or National Assembly appropriation. “This has never happened before and for us this is profound. We are talking about transparency, we are talking about change. And what we saw from those numbers I believe that Nigerians are entitled to know, is that whereas the NNPC claimed to have earned N8.1 trillion, what NNPC paid into the federation account from 2012 to May 2015 was N4.3trillion. “What it means is that NNPC withheld and spent N3.8 trillion.” Edo State governor, Adams Oshiomhole, said who citing details from the federal economic council. Also, the governor confirmed at the meeting that from November 2014, about $2.1billion was withdrawn from the excess crude a...
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