Audit-Report-on-NNPC
Audit-Report-on-NNPC
Audit-Report-on-NNPC
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Investigative Forensic audit of crude oil revenues and remittances by <strong>NNPC</strong> (January 2012 – July 2013)<br />
Term<br />
<strong>NNPC</strong><br />
NPA<br />
NPDC<br />
OML<br />
OPL<br />
OSP<br />
PIA<br />
OTPF<br />
PMS<br />
PPMC<br />
PPPRA<br />
PPT<br />
PRPC<br />
PSC<br />
PwC<br />
PSF<br />
RDP<br />
Rec<strong>on</strong>ciliati<strong>on</strong><br />
Committee<br />
SFDP<br />
Shore Outturn<br />
Senate Committee<br />
SPDC<br />
Definiti<strong>on</strong><br />
Nigerian Nati<strong>on</strong>al Petroleum Corporati<strong>on</strong><br />
Nigerian Ports Authority<br />
Nigerian Petroleum Development Company<br />
Oil Mining License<br />
Oil Prospecting License<br />
Official Selling Price<br />
Pre-Shipment Inspecti<strong>on</strong> Agents<br />
Other Third Party Financing<br />
Premium Motor Spirit<br />
Petroleum Products Marketing Company<br />
Petroleum Products Pricing Regulatory Agency<br />
Petroleum Profit Tax<br />
Port Harcourt Refinery and Petrochemicals Company<br />
Producti<strong>on</strong> Sharing C<strong>on</strong>tract<br />
PricewaterhouseCoopers<br />
Petroleum Support Fund<br />
Reserve Development Project<br />
Technical team set under the leadership of the Ministry of Finance to<br />
rec<strong>on</strong>cile the various revenue and remittance figures and allegati<strong>on</strong>s in<br />
December 2013. The Committee had representatives from:<br />
(i) CBN (ii) <strong>NNPC</strong> (iii) Department of Petroleum Resources (DPR)<br />
(iv) Federal Inland Revenue Service (FIRS)<br />
(v) Office of the Accountant General of the Federati<strong>on</strong> (OAGF)<br />
(vi) The Budget Office of the Federati<strong>on</strong><br />
(vii) Federal Ministry of Finance<br />
(viii) Federal Ministry of Petroleum Resources<br />
In the end, the Committee agreed the unremitted balance from <strong>NNPC</strong><br />
(due from proceeds of domestic crude sale) to be $10.8 billi<strong>on</strong><br />
Vanguardngr<br />
Satellite Field Development Project<br />
The volume of petroleum products verified by inspectors as discharged<br />
into the shore tanks<br />
Senate Committee <strong>on</strong> Finance headed by Senator Ahmed Makarfi to<br />
which the matter of alleged n<strong>on</strong>-remittance of $49.8 billi<strong>on</strong> to the<br />
Federati<strong>on</strong> Account by the <strong>NNPC</strong> was referred to by the Senate at its<br />
sitting <strong>on</strong> 11 December 2013.<br />
Shell Petroleum Development Company<br />
C<strong>on</strong>fidential informati<strong>on</strong> for the sole benefit and use of the <str<strong>on</strong>g>Audit</str<strong>on</strong>g>or-General for the Federati<strong>on</strong>.<br />
PwC 109
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