A total of $22.06 billion and N481.75 billion oil and gas revenues are yet to be remitted to the federation account by the Nigeria National Petroleum Corporation (NNPC), the Nigeria Petroleum Development Company (NPDC) and some companies in the oil and gas sector. This was contained in a report by the Nigeria Extractives Industries Transparency Initiative (NEITI) made available to our reporter on Monday at a conferemce on remedial issues in the oil sector held in Abuja. A summary of the report which analysed unremitted revenue, losses and reconciled differences from operations and transactions in the oil sector between 2010 and 2015 showed that the $22.06 billion comprise $19.04 billion yet to be remitted by NNPC and a N424.57 billion naira component unremitted by the corporation. The upstream subsidiary of the NNPC, the Nigeria Petroleum Development Company (NPDC), according to the report, is yet to remit $2.38bn and N51.95bn […]