NNPC Pays $607.8M To Federal Account
The Nigerian National Petroleum Corporation (NNPC), has opened its books for public scrutiny.
In the current report published by the management of the corporation, a total of 607.8 million Dollars is said to have been paid into the Federation Account this year.
A 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.This report is in line with the earlier promise made by the NNPC Group Managing Director, Ibe Kachikwu, to make all spending and revenue public .