House Clears NUPRC of Revenue Leak Claims

|By Adejumo Adekunle –

The Public Accounts Committee of the House of Representatives clarified on Monday that it has not accused the Nigeria Upstream Petroleum Regulatory Commission (NUPRC) of any involvement in a N32 billion revenue leakage or breach of Treasury Single Account (TSA) protocols, as some media outlets reported.

Committee Chair Bamidele Salam explained that the committee’s role is to protect public interests, particularly regarding revenue, and emphasized, “We have not said or accused NUPRC of revenue leakage as reported by the media.”

NUPRC Chief Executive Gbenga Komolafe assured the committee of the agency’s commitment to compliance with the Petroleum Industry Act (PIA) of 2021 and provided detailed records to counter the allegations, explaining that any unremitted funds were due to specific funding arrangements involving the Nigerian National Petroleum Corporation Limited (NNPCL).