Monday, 07 March 2016 13:17

See The Amount Paid By NNPC Into The Federation Account In January 2016

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Ibe Kachikwu, Minister of State for Petroleum Ibe Kachikwu, Minister of State for Petroleum

The Nigerian National Petroleum Corporation (NNPC) says it has paid N85.96 billion into the Federation Account for January 2016. This was contained in its Monthly Operations and Financial Report for January, released on Sunday in Abuja. The corporation said it made the payment in spite of recording a loss of N3.55 billion in the same month.

It also said it paid N1.05 trillion into the Federation Account within a 12-month period, from February 2015 to January 2016. Giving a breakdown of the amounts transferred in January, NNPC said N85.077 billion was from the sale of crude oil while N880.3 million was receipts from gas sales. It noted that the corporation posted a loss of N3.55billion, compared to a loss of N11.86 billion recorded in December 2015.

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