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Delta Police Recovers POS Machines, Stolen Car From Armed Robbery Suspect

Delta Police Recovers POS Machines, Stolen Car From Armed Robbery Suspect
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Petrol Subsidy Bites Harder, NNPC Proposes N114.3bn Deduction in June


Emmanuel Addeh in Abuja
Nigeria’s three tiers of government may have to look elsewhere to augment revenues accruing monthly from the Federation Account Allocation Committee (FAAC) as the Nigerian National Petroleum Corporation (NNPC) is set to make another N114.2 billion deduction from oil revenues in June to pay for petrol subsidy.
A document obtained by THISDAY from the Ministry of Finance, Budget and National Planning, detailing the NNPC’s presentation to the committee, which took place between June 22 and 23, indicated that as earlier reported, the corporation, which has continued to shoulder the payment of what it calls under-recovery, deducted N126.2 billion from FAAC for May. ....

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