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Okechukwu Nnodim, Tony Okafor, Hindi Livinus and Ada Wodu
Published 29 April 2021
Published 29 April 2021
The Nigerian National Petroleum Corporation has alerted the federal and state governments to its dwindling contribution to the federation account as a result of the bloated fuel subsidy.
It said it would only be able to remit N12.966bn to the Federation Accounts Allocation Committee in June after removing fuel subsidy from its income.
The corporation, which stated this in a document titled, ‘January to March actual and April to June projected remittance to federation account,” indicated that it would not make any remittance for the April and May FAAC after paying fuel subsidy from its revenue.
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