The Nigerian National Petroleum Company Limited (NNPCL) has disclosed that it remitted N10 trillion to the Federation Account as of September 2024.
The announcement was made by NNPCL Group Chief Executive Officer, Mele Kyari, during a budget defense session before the Joint Committee of the Senate and House of Representatives in Abuja on Wednesday.
Kyari noted that the remittance was in addition to N3.5 trillion generated in dividends after taxes and revenue for the 2024 fiscal year. He further clarified that payments into the Consolidated Revenue Fund were no longer mandatory under the laws governing NNPCL’s operations.
