The Nigerian National Petroleum Cooperation has commenced the process of recovering over $7bn (N1.4tn) in over-deducted tax benefits from joint venture partners on major capital projects.
It was learnt on Sunday that the corporation had also engaged an international accounting firm to ascertain the exact amount due to government on the Strategic Alliance Contracts entered by Nigerian Petroleum Development Company, where up to $2.46bn (N484.6bn) of government money would be recovered.
In a report submitted to President Muhammadu Buhari by its new management, detailing the corporation’s successes so far, the Group Managing Director of the NNPC, Dr. Ibe Kachikwu, stated that the firm had commenced its performance measurement and benchmarking.

















