Monday, 12 October 2015 12:59

See the amount paid by NNPC into the Federation Account from January to August

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A total of $607.8 million is said to have been paid into the Federation Account this year, by the Nigerian National Petroleum Corporation (NNPC). This is has contained inthe current report published by the management of the corporation, which is in line with the earlier promise made by the NNPC Group Managing Director, Ibe Kachikwu, to make all spending and revenue public.

Further breakdown of the report indicated that the total export Crude Oil and Gas receipts for the period of January to August 2015 is 3.420 billion dollars. Of the total amount, the sum of $0.61bn was remitted to the Federation Account while the balance - $2.81bn - was said to have been used to fund the JV cash call for the period.

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