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Nigerians React, Lambast Lagos Government As Flood Ravages Homes

Nigerians React, Lambast Lagos Government As Flood Ravages Homes
saharareporters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from saharareporters.com Daily Mail and Mail on Sunday newspapers.

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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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Subsidy payment: NNPC plans N114bn deduction from remittance to FAAC in July

Subsidy payment: NNPC plans N114bn deduction from remittance to FAAC in July
thecable.ng - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thecable.ng Daily Mail and Mail on Sunday newspapers.

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TIMELINE: How over 595 students have been kidnapped in the first half of 2021 already

TIMELINE: How over 595 students have been kidnapped in the first half of 2021 already
thecable.ng - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thecable.ng Daily Mail and Mail on Sunday newspapers.

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NNPC to deduct N126bn from remittance to FAAC in June

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TheCable understands that the report has been sent to the government through the ministry of finance which NNPC and others report remittances to.
In April, the NNPC had written Ahmed Idris, accountant-general of the federation, informing him that the c
In a copy of the letter seen by TheCable, the corporation said N111.96 billion would be deducted from April 2021 oil and gas proceeds due to the FAAC in May noting that the deduction was necessary to ensure the continuous supply of petroleum products to the nation and guarantee energy security.
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The NNPC, in reaction, said the
ThisDay reports that the petroleum corporation, in a document signed by Bello Abdullahi on behalf of Umar Isa Ajiya, chief financial officer of NNPC, said it was still bearing the burden of the differentials from the sale of premium motor spirit (PMS), better known as petrol. ....

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