The document said: “from the $21.686 billion revenue that accrued into the NLNG dividend account from 1999 to 2020, the NNPC expended $20,300,772,850 from the account leaving a credit balance of $1,384,875,073.39 as at June 30, 2020.”

The report added that “$100 billion was generated by NLNG in sales revenue since inception. The company also paid over $18 billion as dividends through NNPC and $6.1 billion as Company Income Tax (CIT) through the Federal Inland Revenue Service (FIRS).

In addition, the company also said that over $15 billion has been expended by NLNG for the purchase of feedstock gas for its operations.

Furthermore, between April, 2002 and March 2007, the company paid a sum of $450,000 as Licence Fees and as sum of N28,696,259.30 as NLNG Licence Renewal between the period 1999 and 2017 to the Department of Petroleum Resources (DPR).

With respect to the payment of dividend, the NLNG reported that it has fully paid all dividends due to the Federation Account to NNPC”.

The report also gave a breakdown of the NLNG income tax payment from 1999 to 2020; sum of $1,301,544,000 was paid in 2014; $1,491,992,000 paid in 2015; $625,331,000 paid in 2016; $304,669,000 [aid in 2017;

$704,182,000 paid in 2018; $907,754,000 paid in 2019 and $764,143,387 paid in 2020.

“It may be important to state that the Commission in the discharge of its monitoring mandate visited the NLNG in August, 2008, March 2013 and has consistently requested NNPC to remit all dividends received from NLNG to the Federation Account.

Information available to the Commission indicates that a sum of $21,685,647,923.39 accrued into the NLNG Dividend Account from inception to 30th June, 2020.

Giving details of how NNPC disbursed the $20.3 billion, the report said the NLNG secretariat got $1,854,041.47; NLNG scheme 4 top up got $159.250 million; Brass LNG Scheme funding got $574,420,529.92; West African Gas Pipeline got $259,900,409; N-Gas (Takoradi, CEB

Account, Gas Monitoring Station got $9,433,400; Trans-Sahara Gas Pipeline got $1,278,810.50; Olokola LNG got 216,928,550.55 while security project got $1.520 billion.

The report also stated that: the sum of $4,372,371,348.19 was transferred to Federal Government of Nigeria; Product Importation Loan to NNPC worth $5 billion; $3,335,335,760 spent on Paris Club Refund;

Sovereign Wealth Fund got $1.050 billion; $1.200 billion for 2016 JV Cash Call Balance and $2.6 billion spent on National Fuel Support Fund.

n its recommendation, the RMFAC said it  “does not support any diversion of revenue that should accrue to the Federation Account for whatever reason, as the practice is illegal and conflict with section 162(1) of the 1999 Constitution (as amended).

That the NNPC or any other agency does not have the powers under the law to withdraw money from the NLNG Dividend Account for any other purpose outside remitting it into the Federation Account”.

For the first time in Kano history,two hearing impaired kids regain their hearing ability after Aminu Kano Teaching Hospital performs its first ear [cochlear implant] surgery like in Pic4. It was led by Al-Zoubi Firas who also went to Abuja National Hospital for more operations.

The Federal High Court in Lagos in a landmark judgment today ordered the Revenue Mobilization, Allocation and Fiscal Commission (RMAFC) to fix the salaries and allowances of the 469 members of the National Assembly– 109 in the Senate and 360 in the House of Representatives

to reflect the economic realities in the country, and ruled that the National Assembly Service Commission has no power to determine the remunerations and allowances of the lawmakers