The Federal Government, yesterday, accused International Oil Companies, IOCs, operating in Nigeria of falsifying
gas flare data to cut down on payment of penalties, as a result of which the country is losing between $500 million and $1 billion in revenues that would have accrued from the penalties.
This was even as Minister of Power, Works and Housing, Mr. Babatunde Fashola, disclosed that Nigeria’s perennial power problems are man-made and not as a result of technical challenges. Meanwhile, the Senate is probing non remittance of $3.48 billion by NNPC and NPDC from 2013 to date just as the House of Representatives is probing Oando, Mobil oil, Total oil and others over N500bn debt to the PPMC.
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