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Nairaland Forum / Nairaland / General / Politics / NNPC Completes Payment Of N450 Billion Debt To FG (10150 Views)
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NNPC Completes Payment Of N450 Billion Debt To FG by stephanie11: 4:34am On Jun 22, 2017 |
The Nigerian National Petroleum Corporation, NNPC, has announced the complete payment of a N450 billion debt it owed the Nigerian government. The Corporation's April 2017 monthly financial and operations report was made public on Wednesday and it revealed that the last tranche of the debt sum was paid in March 2017. The document revealed that the corporation was paying the Nigerian government N6.33 billion on a monthly basis for several months. To this end, the NNPC said it transferred N95.56 billion into the Federation Account during the month under review from the net domestic crude oil and gas receipt, including gas receipts of N2.23 billion. The Federation Accounts Allocation Committee, FAAC, had in September 2011, resolved that the NNPC should refund over N450 billion in 32 installments after the NNPC said it withheld the money that should have been paid into the Federation Account as stipulated by law. Furthermore, the April 2017 financials noted that NNPC’s receipts from domestic crude oil and gas in the month of April stood at N142.09 billion, consisting of receipts of N2.23 billion from domestic gas sale and N139.86 billion from domestic crude oil. The NNPC noted that of its total naira receipt, N46.54 billion was transferred to Joint Venture Cash Call, JVCC, being a first line charge and to guarantee continuous flow of revenue stream to Federation Account. On the other hand, the report stated that the NNPC recorded total export proceeds of $142.12 million in April 2017 as receipt against $404.55 million in March 2017. According to the report, contribution from crude oil amounted to $71.81 million, while gas and miscellaneous receipt stood at $70.29 million and $0.013 million respectively. The report, however, stated that the NNPC remitted the total export proceeds receipt of $142.12 million to fund the JV cash call for the month of April 2017 to guarantee current and future production. It further stated that total export crude oil & gas receipt for the period of April, 2016 to April 2017 stood at $2.50 billion. http://politicsngr.com/2017/06/22/nnpc-completes-payment-n450-billion-debt-fg/ cc: lalasticlala 2 Likes 1 Share
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Re: NNPC Completes Payment Of N450 Billion Debt To FG by ademoladeji(m): 4:41am On Jun 22, 2017 |
Why pay the FG instead of sharing it for us ![]() Am I the FTC? If yes, I dedicate this massive plot of land to all the victims of Hon. Dr. Evans 7 Likes 2 Shares
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Re: NNPC Completes Payment Of N450 Billion Debt To FG by LionDeLeo: 5:37am On Jun 22, 2017 |
I don't understand. Which one be federal govt, which one be NNPC? 10 Likes |
Re: NNPC Completes Payment Of N450 Billion Debt To FG by baritereign24(m): 5:52am On Jun 22, 2017 |
They Wil stil borrow |
Re: NNPC Completes Payment Of N450 Billion Debt To FG by Iamwrath: 6:51am On Jun 22, 2017 |
I trust the former administration wouldn't have bothered NNPC and that amount would have been shared Jonathan was a disgrace 25 Likes 2 Shares |
Re: NNPC Completes Payment Of N450 Billion Debt To FG by helphelp: 11:30am On Jun 22, 2017 |
Oyel money 3 Likes |
Re: NNPC Completes Payment Of N450 Billion Debt To FG by Amirullaha(m): 11:30am On Jun 22, 2017 |
. |
Re: NNPC Completes Payment Of N450 Billion Debt To FG by brunofarad(m): 11:30am On Jun 22, 2017 |
Hmm
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Re: NNPC Completes Payment Of N450 Billion Debt To FG by aku626(m): 11:31am On Jun 22, 2017 |
Thanks for paying up. Now how do we put the money to use? |
Re: NNPC Completes Payment Of N450 Billion Debt To FG by AroOkigbo(m): 11:32am On Jun 22, 2017 |
paid to the federal government or to some cabal? 2 Likes |
Re: NNPC Completes Payment Of N450 Billion Debt To FG by Bills2307(m): 11:33am On Jun 22, 2017 |
450billion for d account o 6 Likes
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Re: NNPC Completes Payment Of N450 Billion Debt To FG by feelgoodInc: 11:33am On Jun 22, 2017 |
how about paying ifeanyi ubah's debt 1 Like |
Re: NNPC Completes Payment Of N450 Billion Debt To FG by SaulRazor: 11:33am On Jun 22, 2017 |
Iamwrath: Keep fooling yourself 16 Likes |
Re: NNPC Completes Payment Of N450 Billion Debt To FG by SaulRazor: 11:33am On Jun 22, 2017 |
Iamwrath: Keep fooling yourself , it is very allowed 6 Likes 1 Share |
Re: NNPC Completes Payment Of N450 Billion Debt To FG by Nobody: 11:34am On Jun 22, 2017 |
The money has already been looted 3 Likes |
Re: NNPC Completes Payment Of N450 Billion Debt To FG by feelgoodInc: 11:35am On Jun 22, 2017 |
Iamwrath:yes Jonathan was a disgrace and buhari is not, how much is in your account. how's the recession? 11 Likes |
Re: NNPC Completes Payment Of N450 Billion Debt To FG by CARBONY500: 11:35am On Jun 22, 2017 |
5billion X 8million is equals to what? ;D5.. A trilli.. Trilli.. . . . . . . . . . . Anyway, weda una like am or not, we go gather dey count this billions soon. Amen. 2 Likes |
Re: NNPC Completes Payment Of N450 Billion Debt To FG by Nobody: 11:36am On Jun 22, 2017 |
Iamwrath: APC and PDD are the same, stop trusting politicians, that money can build few roads, hospitals and schools (word class),what if they don't do any of these but rather share the money amongst themselves? 2 Likes |
Re: NNPC Completes Payment Of N450 Billion Debt To FG by kurt09(m): 11:36am On Jun 22, 2017 |
Sai baba 2 Likes
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Re: NNPC Completes Payment Of N450 Billion Debt To FG by vedaxcool(m): 11:37am On Jun 22, 2017 |
Iamwrath: Gbamest but defenders of thieves will come for you. 4 Likes |
Re: NNPC Completes Payment Of N450 Billion Debt To FG by temitope277(m): 11:46am On Jun 22, 2017 |
ademoladeji:God bless u sir for that comment |
Re: NNPC Completes Payment Of N450 Billion Debt To FG by temitope277(m): 11:47am On Jun 22, 2017 |
ademoladeji:God bless u sir |
Re: NNPC Completes Payment Of N450 Billion Debt To FG by slap1(m): 11:49am On Jun 22, 2017 |
Iamwrath: It makes more economic sense to share it - at least money circulates - than using it to treat Buhari without any positive result. 9 Likes 1 Share |
Re: NNPC Completes Payment Of N450 Billion Debt To FG by theadvocatus(m): 11:50am On Jun 22, 2017 |
I hope they're not using debt to repay debt?! lest we discover in no distant time that they failed to remit again but instead used monies to pay a certain debt. |
Re: NNPC Completes Payment Of N450 Billion Debt To FG by MsAfricaa: 11:58am On Jun 22, 2017 |
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Re: NNPC Completes Payment Of N450 Billion Debt To FG by Thisis2raw(m): 12:03pm On Jun 22, 2017 |
Niger Delta sorry... Cuz all this money will definitely go to the northern part |
Re: NNPC Completes Payment Of N450 Billion Debt To FG by Nobody: 12:11pm On Jun 22, 2017 |
Since nnpc has finished paying their debt, can they reduce the price of fuel so that the masses can benefit |
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