Reps Set to Investigate NNPC LNG Over Alleged Non Remittance of Revenue to FG

The House of Representatives has mandated its Committee on Gas Resources to investigate the operations, financial reporting, and remittances of NNPC LNG Limited with respect to NLNG.

This followed the adoption of a motion moved by the member representing the Ndokwa/Ukwuani Federal Constituency, Rt. Hon Nnamdi Ezechi; urging the House to carry out the investigation.

In the motion entitled: “Need to Investigate the Non-Reporting and Non-Remittance of Equity Liquefied Natural Gas (LNG) to NNPC Limited”, Hon Ezechi noted that the Nigeria Liquefied Natural Gas (NLNG) was incorporated in 1989 as a joint venture between the Nigerian National Petroleum Company (NNPC) Limited, Shell, TotalEnergies, and Eni, with NNPC Limited holding the largest equity share of 49%. 

He further explained that NNPC LNG Limited was incorporated in 2012 in the Cayman Islands as a subsidiary of NNPC Limited to manage the sale of liquefied natural gas on behalf of the group.

The Lawmaker expressed concern that the financial operations, transactions, and statements of NNPC LNG Limited in the Cayman Islands had not been transparently reported to either NNPC Limited or NLNG, which had resulted in non-remittance of dividends, taxes, and other statutory payments due to the Federal Government of Nigeria.

“It is also worrisome that certain deductions are allegedly being made from NLNG proceeds—particularly from the sale of Equity LNG—without formal notification or approval of the Federal Government. Such actions raise serious concerns of financial impropriety, weak corporate accountability, and possible loss of national revenue”, Hon Ezechi stated 

He emphasized that these practices undermined public trust, compromised fiscal transparency, and could significantly affect government revenue at a time when the nation’s economy was in need of every legitimate earning to drive development.

The motion was seconded by Rt. Hon Bashir Zubairu Usman from Kaduna State and unanimously adopted, with a charge to the Committee to report back within four (4) weeks for further legislative action.