Socio-economic Rights and Accountability Project (SERAP) has urged President Bola Tinubu to set up a presidential panel of enquiry to promptly probe the grim allegations that over $15 billion of oil revenues, and N200 billion budgeted to repair the refineries are missing and unaccounted for between 2020 and 2021, as documented by the Nigeria Extractive Industries Transparency Initiative (NEITI). THE GUARDIAN reports.informationguidenigeria
The organisation noted that failure to do these would cause serious resource allocation problems, worsening the country’s debt burden.
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Live, Study and Work in Canada. No Payment is Required! Hurry Now click here to Apply >> Immigrate to CanadaThe group added: “It would also create cynicism, suspicion, and eventually citizens’ distrust about the ability of your government to combat high-level official corruption, as well as deter foreign investment, limiting growth and development.”JAMB Result
The findings, SERAP said, suggest a grave violation of public trust and the provisions of the Nigerian Constitution 1999 [as amended], national anticorruption laws and the country’s obligations under the United Nations (UN) convention against corruption.JAMB Portal
SERAP said: “The allegations of corruption documented by NEITI undermine economic development of the country, trap the majority of Nigerians in poverty, depriving them of opportunities.”
“According to the 2021 report by NEITI, the government agencies, including the Nigerian Petroleum Development Company Limited (NNPCL) and the Nigerian Upstream Petroleum Regulatory Commission (NPDC) failed to remit $13.591 million and $8.251 billion to the public treasury.NYSC Portal
“The NNPCL and NPDC failed to remit over 70 per cent of these public funds. NEITI wants both NNPC and NPDC to be investigated, and for the missing public funds to be fully recovered.”
Quoting Section 16(1) of the Constitution, the organisation said the government has a responsibility to ‘secure the maximum welfare, freedom and happiness of every citizen on the basis of social justice, equality of status and opportunity.
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