NNPC Remits $607.8m to Federation Account

by on October 12, 2015

The Nigerian National Petroleum Corporation (NNPC) is said to have paid a total of 607.8 million Dollars into the Federation Account this year.

Further breakdown 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.

The released financial report is in line with earlier promise made by the NNPC Group Managing Director, Ibe Kachikwu, to make all spending and revenue public .

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