The Nigerian National Petro­leum Corporation, NNPC, disclosed that it had paid the sum of N933.1bn into the Federation Account and lost about $607million by end of November 2015.

The Corporation also recorded a loss of N14.3 billion in the month of November 2015, according to figures published in its latest monthly report on operational and financial dealings.

The NNPC’s operating revenue after subsidy for the months of October and November 2015 were N173.56 billion and N155.10 billion, respectively, ac­counting for the November loss.

This represents 56.72 percent and 50.68 percent, respectively, of the Cor­poration’s monthly budget.

The report also shows that the Cor­poration incurred operating deficits of N12.22 billion and N14.29 billion in the months of October and Novem­ber 2015, respectively, as against the monthly budgeted surplus of N38.91 billion.
http://naijaportal.com.ng/nnpc-lost-607m-paid-n933-1b-to-federal-government-account/