The latest review from the Nigerian National Petroleum Corporation for 2015, 2016 and 2017 fiscal years, has revealed that they lost a total of 547 billion naira.
However, the Nigeria Extractive Industries Transparency Initiative (NEITI) report which was released on Sunday in Abuja, showed that the NNPC had a capacity utilization of 12.26 percent on refineries and domestic crude utilization in a three-year period.
This also revealed that the Kaduna refinery recorded the lowest capacity utilisation of 9 percent.
NEITI on seeing the financial operations report for the NNPC said that NNPC headquarters had a total revenue loss of 336.268 billion naira which accounted for the highest revenue loss of the 547-billion-naira loss.
Following the report by NNPC, NEITI said it has not verified the data by the NNPC except for the year 2015.
However, their independent validation will be done in both ongoing and future reconciliation reports as what they have done is a parliamentary analysis of what NNPC made available to them.
