"Extra N41 Billion Was Paid Into Federation Account By NNPC" - Baru

The Managing Director of Nigerian National Petroleum Corporation, NNPC Capital, Godwin Okonkwo, representing the Group Managing Director, Maikanti Baru, during a presentation to the House of Representatives Ad Hoc Committee on the Investigation of the Non-Remittances of Funds to the Federation Account by the Nation’s Oil firm between July 2017 and December 2018 on Tuesday announced that its annual payments into the Federation Account in 2018 surpassed its projections in the 2018 budget with over N41 billion.

He stated, that the corporation remitted N1.26 trillion as against the estimated N1.22 trillion in the 2018 budget.

In a statement, Ndu Ughamadu, NNPC spokesperson quoting the GMD hinted that against the 2.3 million barrels per day, mbpd, proposed in the 2018 budget, the national daily production for the period under review averaged between 1.9mbpd and 1.89mbpd