Fund Clarifies Gas Penalty Discrepancies | Nigeria News

The Midstream and Downstream Gas Infrastructure Fund is defending itself against an Auditor-General’s report claiming a massive N94.4 billion shortfall in gas flare penalties — insisting the money isn’t missing, just delayed in transit. The Fund clarifies it doesn’t collect the penalties at all — that’s the Nigerian Upstream Petroleum Regulatory Commission’s job. Once collected, funds flow to the Federation Account before reaching the Fund, making timing and inter-agency reconciliation critical. They’ve already submitted records for review and stress their role is purely receipt, not collection — shifting responsibility for any gaps to the agencies tasked with gathering the funds. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/bcc88dd0efeaadda