May 19, 2021

NNPC Is Not Broke, Group Tackles Dino Melaye

2 min read

The Integrity Youth Alliance has cautioned a former Senator representing Kogi West, Senator Dino Melaye on his statement that the Nigerian National Petroleum Corporations is broke.

In a press release on Friday in Abuja, the Coordinator of the Alliance, Kelvin Adegbenga reminded Senator Dino Melaye that State don’t rely on NNPC revenue alone to survive.

“The insinuation that States won’t be able to pay salaries is not correct as the Federal Government has been sharing allocations from Federal to Local Government level even when NNPC was not remitting revenue, Adegbenga said.

It will be recalled that the former senator representing Kogi West, Senator Dino Melaye alerted Nigerians that the failure of the management of the Nigerian National Petroleum Corporation to remit to the federation account for some months this year will make it difficult for states to pay salaries for the affected months.

Melaye spoke about a recent letter written by the NNPC to the Accountant General of Federation, informing him about the economic challenges facing the petroleum corporation.

The Alliance reminded Senator Dino Melaye that with contribution from the Nigeria Customs Service (NCS), the Federal Inland Revenue Service (FIRS) and remittances from non-oil sources, especially other mineral proceeds, the Excess Crude Account (ECA) and the Nigeria Sovereign Investment Authority (NSIA), the Zero allocation from the NNPC should not be a major concern to the Federation Account Allocation Committee.

The statement from the Corporation’s spokesman, Dr. Kennie Obateru that the NNPC remains in positive financial trajectory for the period in question” is a welcome development, the Alliance said.

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