After Subsidy Removal, NNPCL Remits N123bn Into Federation Account
After Subsidy Removal, NNPCL Remits N123bn Into Federation Account
In line with the provisions of the Petroleum Industry Act 2021, the Nigerian National Petroleum Company Limited has commenced the payment of dividend into the federation account.
The NNPC Limited on Thursday begun the payment of interim dividend and PSC profit oil as part of the N907bn shared by the Federation Account Allocation Committee to the three tiers of government.
The remittance is coming barely two months after the NNPC exited the fuel subsidy shackle following the removal by President Bola Tinubu.
During the FAAC distribution, which was chaired by the Accountant General of the Federation, Dr. Oluwatoyin Madein, the NNPCL remitted N123bn into the coffers of government.
A breakdown of the N123bn showed that the National Oil Company paid N81bn as a monthly interim dividend and N42bn as 40 per cent PSC profit oil.
This is in addition to compliance on payment of royalties and taxes.
TRENDING SONGS
Shock in Anambra: Bride Disappears Moments Before Wedding
Nigerian Woman Returns ₦330 Million Accidentally Credited to Her Account
APC Don Reach Morocco?’ VeryDarkMan Reacts to Seyi Tinubu Poster
Bride Breaks Down in Tears as Wedding Meals Were Kept Secretly While Guests Go Home Hungry
Odogwu by Day, Robber by Night: How Marriage Joy Turned Into Tragedy
Nigerian Officials Allegedly Pocket N4–6B Weekly Through Smuggling Cartels at Seme–Badagry Border
Ahmad Yerima: Naval Officer to Face No Sanctions After Clash with Wike – Matawalle
Trending Video: Muslim Man Joins Wife in Hallelujah Challenge ‘Dress Like Your Miracle’ Night
Woman Seeks Advice as Late Brother’s Wife Refuses to Mourn Him Following His Death With Alleged Mistress
Nobody Cares About Fine Girls In The UK, I Miss Nigeria — Nigerian Lady Laments
Share this post with your friends on 
