We’ll increase remittances to FAAC, NNPC tells govs

The Nigerian National Petroleum Corporation on Wednesday told state governors that it would increase its remittances to the Federation Account Allocation Committee, a development that would lead to an increase in the monthly allocations to states.

NNPC’s Group Managing, Mele Kyari, made this commitment when the Chairman of the Nigerian Governors Forum, Kayode Fayemi, led the Governor of Sokoto State and the forum’s Deputy Chairman, Aminu Tambuwal, on a business visit to the NNPC Towers in Abuja.

Kyari said, “It is our job to deliver value for the teeming population of this country. The NNPC has no excuse but to deliver on its mandate by touching the lives of Nigerians in many positive ways.

“We will ensure steady and unimpeded supply and distribution of petroleum products and we will also ensure that the NNPC remittances to the Federation Account Allocation Committee are enhanced,”

He also expressed the corporation’s readiness to continuously work with the NGF in order to grow crude oil production, renewable energy and generate more revenue for the country.

“We would promote partnership with the states in the area of renewable energy in line with our plan to transform into a competitive global integrated energy company,” Kyari stated.

Fayemi assured the new NNPC boss of the support of the 36 state governors, noting that they would continue to partner the NNPC and its leadership to deliver value to the Nigerian people.

“As governors at the sub-national level, we would continue to safeguard the NNPC’s pipelines as they run through our various states. We would partner and support the security agencies to mitigate the frequent infractions on the facilities of the corporation across the states,” Fayemi stated.

In another development, the oil firm called for the support of the Senate for the quick passage of the Deep Offshore Amendment Bill which has the potential of boosting the Federal Government’s revenue by about $5bn per annum.

NNPC’s immediate past GMD, Maikanti Baru, disclosed this during a visit to the Senate President, Senator Ahmed Lawan, alongside the new NNPC boss, at the National Assembly in Abuja.

Baru, according to a statement issued on Wednesday by the corporation’s Group General Manager, Group Public Affairs Division, Ndu Ughamadu, emphasised on the significance of the bill, as he explained that the nation had been virtually losing revenue running into billions of dollars due to the delay in the review of the extant Deep Offshore Act.

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