Punch Newspapers Sections Published 23 May 2021 About 40 per cent of the proceeds from oil and gas exports and domestic sales in January were spent on joint venture assets and priority projects, according to the Nigerian National Petroleum Corporation. The NNPC spent N83.29bn on JV assets being developed through joint ventures with private firms as well as priority projects in January. A total revenue of N209.54bn was generated from oil and gas exports and domestic sales in January, the NNPC data showed. The NNPC, which represents the Federal Government in the JVs has an obligation to make cash call payment for the development of the assets.