FAAC: NNPC Remits N123bn After 18 Months Of Non-remittance
The Nigerian National Petroleum Company (NNPC) Limited said it has remitted N123 billion to the federation account for the month of June 2023.
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The Nigerian National Petroleum Company (NNPC) Limited said it has remitted N123 billion to the federation account for the month of June 2023.
This, is in deliberate move to consolidate the oil giant Corporation post Petroleum Industry Act (PIA) 2021 status as an income generating company.
The News Agency of Nigeria reports that FAAC had on Thursday shared N907 billion among the three tiers of government.
The Federation Account Allocation Committee (FAAC) has shared a total sum of N907.054 billion June 2023 Federation Account Revenue to the Federal Government, States and Local Government Councils. This was contained in a communiqué issued at the end of the Federation Account Allocation Committee (FAAC) meeting for July 2023. The meeting was chaired by
The PUNCH observed, however, that the increase recorded for May was higher than that of June despite the fuel subsidy removal.