The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has debunked the allegations making news rounds of a 2022 Audit Report that had indicted the commission over its purported non-remittance of N151.121 billion into the Federation Account. The NUPRC in a statement issued yesterday, in Abuja, signed by its head of public affairs and corporate communications, Mrs. Olaide Shonola, stated that the media report clearly showed a lack of understanding of the composition and responsibility of the commission. The NUPRC argued that the audit report under reference was that of 2020, explaining that the commission was a creation of the Petroleum Industry Act (PIA) of 2021 and was inaugurated in October 2021. The upstream regulator added that it is a regulatory body and not directly involved in operational activities. The NUPRC maintained that it therefore smacked of professional sloppiness to link it by whatever definition to a report of 2020, adding that it was also mischievous to claim that the commission did not remit funds it never received.
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