[Nigeria] NNPC Remits N790.75billon into FG Coffers in 9 Months
The Nigerian National Petroleum Corporation, NNPC, on Sunday, November 1, announced that it had paid N790.75 billion into the Federation Account between January and September.
This was contained in NNPC’s Monthly Financial and Operation Report for September.The report also showed that the state-run corporation realized N38.67 billion from the sale of petroleum products in September. The figure for August was N44.24 billion.
The corporation started issuing the report in August in line with its Group Managing Director (GMD) Emmanuel Ibe Kachikwu’s promise to throw its books open monthly for public scrutiny.
The report said the dollar payments to Joint Venture (JV) Cash Call and Federation Account from January to September was $3.69billion.
“Of the total receipts, $0.61billion was remitted to the Federation Account, the balance of $3.09 billion was used to fund the JV Cash Call for the period,” NNPC said.