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‘APC Will Release Full PwC Audit On NNPC’


The All Progressives Congress, the party of incoming President Muhammadu Buhari, will publish the full audit of the state oil company and expects it will need to repay the government more than previously recommended.
The APC believes that the Nigerian National Petroleum Corp. may need to refund more than the $1.48 billion stated in the highlights of a PricewaterhouseCoopers LLP report released by the auditor-general in February, Kayode Fayemi, the party’s policy director, said in an interview on Tuesday evening at his residence in Lagos, the commercial capital.
“I have a figure that’s more than $1.5 billion that’s been talked about,” said Fayemi, a former governor of Ekiti state. “We’ve seen credible information that what PwC says is more than that. We will release the report. We’ll make it available to Nigerians as soon as we have full information on this.”
Former central bank Governor Lamido Sanusi was suspended by President Goodluck Jonathan last year after he alleged the NNPC hadn’t remitted about $20 billion in oil revenue to the government. Sanusi, now the West African nation’s second-highest Muslim leader as the royal Emir of Kano, said last month that the issue hasn’t been addressed sufficiently.
Highlights of a PwC audit into the NNPC said it should refund a minimum of $1.48 billion, with the oil company saying the report absolved it of Sanusi’s allegations.
Ohi Alegbe, a spokesman for the NNPC in the capital, Abuja, didn’t answer two calls or immediately reply to a text message to his mobile phone seeking comment.
During March elections, former military ruler Buhari became the first opposition leader to oust a sitting president since the country’s independence from the U.K. in 1960.

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