DPR generates N673b in six months

The Department of Petroleum Resources (DPR) generated N673,715,299, 941.42 in the first half of the year (January to June), its chief executive, Sarki Auwalu, has disclosed.

He made the disclosure when he received the Kabir Mashi-led Federation Allocation Accounts Committee (FAAC) post-mortem sub-committee in his office yesterday in Abuja.

Auwalu, in a release signed by the agency’s Head, Public Affairs, Paul Osu, submitted that DPR would surpass its revenue target for the year.

According to him, the organisation is a collection agency for revenues accruable to the government from oil and gas operations.

He also disclosed that the department operates a cashless system that enables all remittances to be channeled directly to the Federation Account in total compliance with the Treasury Single Account (TSA) policy of the government.

The DPR Director said his establishment conducts the comprehensive quarterly and annual reconciliations of revenue payments for accuracy and timely remittances.