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$37.5bn crude, gas proceeds not remitted to FG –NEITI

The Nigeria Extractive Industries Transparency Initiative told the House of Representatives on Wednesday that the Nigerian National Petroleum Corporation had yet to remit crude oil proceeds totalling $21.7bn to the Federation Account.

It also said the Federal Government’s $15.8bn share of dividend from investment in the Nigeria Liquefied Natural Gas Limited had yet to be remitted to the Federation Account.

The government owns 49 per cent equity in the NLNG.

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