Audit flags N39bn at MDGIF as NMDPRA denies under-remittance

The 2024 Auditor General has accused the Midstream and Downstream Gas Infrastructure Fund (MDGIF) of not remitting N39 billion it generated from the petroleum sector. According to the report, the unremitted funds are from the 0.5% statutory revenue accruable to the MDGIF from petroleum products sold and gas flare penalties in 2023. The report explained […]