NAIJA NEWS
The spokesperson of the Nigerian National Petroleum Company Limited (NNPC Ltd), Olufemi Soneye, has revealed that the Federation owes the Company a substantial N4.207 trillion.
In a statement issued in Abuja, Soneye, NNPC’s Chief Corporate Communications Officer, also revealed that the national oil company, in turn, owed the Federation an amount of N2.852 trillion in unremitted revenue, resulting in a net balance of N1.355 trillion in favour of NNPC.
Soneye further affirmed NNPC’s commitment to collaborate with the Nigeria Extractive Industries Transparency Initiative (NEITI) and other relevant stakeholders within the Reconciliation Committee, established by President Bola Ahmed Tinubu.
This committee aims to investigate, review, and reconcile the financial records related to the alleged indebtedness of both NNPC Ltd. and the Federation Accounts Allocation Committee (FAAC) to the Federation…
