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The Nation Newspaper States, councils worried over FIRS, Customs, others collection cost

    The Nigerian National Petroleum Corporation (NNPC) has debunked reports of being broke, saying it remains in a positive financial trajectory. The Corporation’s spokesman, Dr. Kennie Obateru made the clarifications in a statement on Friday. He stated that the clarification became necessary in the light of media reports insinuating that the Corporation was in financial straits. “NNPC maintains that it is conscious of its role and was doing everything possible to shore up revenues and support the Federation at all times. “The shortfall will be remedied by the Corporation as it relate...

•Corporation loses 1.88 million barrels to shut-ins By Emmanuel Addeh The Nigerian National Petroleum Corporation (NNPC) recorded a gross revenue of N222.3 billion, excluding statutory and obligatory deductions in November 2020, latest figures from the national oil company have indicated. Documents presented by the corporation, detailing its activities to the Federation Account Allocation Committee (FAAC) meeting of 15-16 December, 2020, showed that after months of falling crude oil exports and prices occasioned by the COVID-19 pandemic, November revenues recorded about 500 per cent increas...

The Nigerian National Petroleum Corporation (NNPC) recorded gross revenue of N222.3 billion from Crude oil and gas sales in October, remitted in November 2020. This represents a 37.3% increase relative to N161.9 billion recorded in October 2020, from the sales in September. This is contained in the document presented to the Federation Account Allocation Committee (FAAC) meeting for December 2020, which details the company’s activities for the month of October 2020. Checks indicate that in terms of the summary of receipts and remittances due for November 2020, gross revenue for JV crude oil...