NNPC PAYS N1.118TR INTO FEDERATION ACCOUNT IN ONE YEAR

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The Nigerian National Petroleum Corporation (NNPC) paid N69.544 billion into the Federation Account in March, according to the oil giant’s monthly financial report for March released at the weekend in Abuja. It added that the total amount paid into the Federation Account for domestic crude oil and gas and other receipts from April 2015 to March 2016 is N1.118 trillion.

The NNPC recorded N107.826 billion revenue in March, slightly higher than the N104.804 in February. The report said the revenue rose marginally by 2.88 per cent and the expenses dipped by 12.92 per cent to N112.368 billion from N129, 034 billion recorded in February. But the corporation also made a loss of N18.89 billion in the month.

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