The Fiscal Responsibility Act, 2007 requires revenue generating agencies of the Federal Government to remit 80 per cent of their operating surplus to the Consolidated Revenue Fund of the government.
NABRO, in its 2013 report on the performance of federal agencies in respect of their remittances to the Federal Government, indicated that NAPIMS had a surplus of N2.07trn within the years under consideration.
It stated, “NAPIMS, a subsidiary of the Nigeria National Petroleum Corporation, earned N9.58trn (excluding proceeds from crude oil and gas) between 2009 and 2011 and accumulated a surplus of N2.07trn.
“Hence, the NNPC ought to have remitted the sum of N1.65trn to the Consolidated Revenue Fund of the Federal Government.
“However, the sums of N338.26bn N572.22bn and N746.17bn (due to the government) were retained and stated as having been transferred to revenue reserve in 2009, 2010 and 2011 respectively.”
According to NABRO, between 2007(when the Fiscal Responsibility Act was enacted) and 2011, the NNPC ought to have remitted N3.02trn to the federal treasury in respect of the operations of NAPIMS.
This excluded the crude oil sales that were expected to have been paid into the Federation Account.
It said, “Although NAPIMS recorded significant surpluses during the period, the NNPC claimed that as a ‘group,’ it has been recording deficits over the years.
“The Group Managing Director attributed these losses to the harsh operating environment. The corporation has yet to provide the group’s audited accounts for any of the three years. The question remains whether or not the NNPC has ever made profit since it was established.”
NABRO also named Nigerian Ports Authority, West African Examinations Council and the National Pension Commission as agencies also towing the line of the NNPC.
It said that the NPA was expected to remit N51.59bn to the Federal Government between 2009 and 2012, but only remitted N24.66bn, leaving an outstanding sum of N27.92bn.
“Thus, the authority neither complied with the FRA 2007 nor the 2011 Federal Ministry of Finance directive to remit 25 per cent of its gross collection to the treasury,” NABRO said.
On WAEC, it noted that the agency did not remit any amount between 2009 and 2012.
It noted that the N1.93bn that the council should have paid into the CRF of the Federal Government during the period was kept for future use.
“In effect, the council had neither regard for the provisions of the FRA 2007 on remittances nor the directive of the Federal Ministry of Finance to remit 25 per cent of its gross Internally Generated Revenue to the CRF of the Federal Government,” it said.
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