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Agbami Parties Donate Model Block of Classrooms to Delta State Government

Agbami Parties Donate Model Block of Classrooms to Delta State Government
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NNPC subsidiaries received N1 45 trillion in credit sales in 2019 -- Report

The monies were given for oil and gas supply, Dataphyte found. Oil sales are Nigeria’s largest revenue source, and revenue shortages due to defrayed costs could cause a severe financial burden, including an increase in borrowings. This was evident in the corporation’s financial account, with the posting of a loss of ₦16.3 billion in 2019 while the overall Group reported a ₦20.2 billion loss. In 10 years, it reported a combined loss of ₦474 billion and ₦1.55 trillion, respectively. NAPIMS and Kaduna refinery owe the bulk of unpaid bills A breakdown of the credit sales showed that the loss-making Kaduna refinery and National Petroleum Investment Management Services (NAPIMS), a subsidiary managing the Nigerian government’s investments in the upstream sector, owed NNPC in unpaid bills to the tune of ₦470.08 billion and ₦534.8 billion, respectively.

NNPC subsidiaries get seven-day ultimatum to appear before Reps

NNPC subsidiaries get seven-day ultimatum to appear before Reps Leke Baiyewu, Abuja Leke Baiyewu, Abuja Published 15 March 2021  The House of Representatives’ Committee on Public Accounts Committee has issued a seven-day ultimatum to heads of the 17 subsidiaries of the Nigerian National Petroleum Corporation to appear before it or risk being arrested by warrant of the House. The Office of the Auditor General of the Federation had in its audit queries accused NNPC’s subsidiaries of failing to render their audited accounts over the years. Those with queries against them include the Nigerian Petroleum Development Company Limited, Petroleum Products Marketing Company Limited, Petroleum Products Pricing Regulatory Agency and NNPC Retail Limited, National Petroleum Investment & Management Services.

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