Zero Remittance: NNPC not broke, management insists
Spokesman of the Nigerian National Petroleum Corporation (NNPC), Kennie Obateru, on Friday, said the corporation is not in any financial straits as insinuated in the media.
Mr Obatetu, in a statement, said that the revenue projection contained in the letter to the Accountant General of the Federation (AGF) being cited in the media was only to the federation revenue stream being managed by the corporation.
He Obateru said the projection was not a reflection of the overall financial performance of the corporation.
“NNPC maintains that it is conscious of its role and is doing everything possible to shore up revenue and support the federation at all times.
“The shortfall will be remedied by the corporation as it relates only to the federation revenue stream being managed by the NNPC and does not reflect the overall financial performance of the corporation.
“The NNPC remains in positive financial trajectory for the period in question,” the statement said.
He further said that the corporation pledged to continue to pursue and observe its cost optimisation process with a view to maximizing remittances to the federation account.
Mr Obateru promised that the NNPC would continue to meet its financial obligations to the federation.
(NAN)
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
States
UNICEF targets four Kaduna LGAs with climate-resilient schools, health facilities
Mr Dada said the project was designed to make health and education infrastructure more resilient to climate-related challenges.
Anti-Corruption
Security guard remanded over alleged theft of mosque generator
The magistrate adjourned the case until June 29 for ruling.
NationWide
Mark faults ruling ordering INEC to deregister ADC, Accord, three other parties
Mr Mark said, “The ADC is not on trial. Rather, it is the judiciary that is on trial and the nation is waiting to see how the National Judicial Council will handle this situation.”
States
NYSC begs Kebbi to relocate orientation camp to Birnin Kebbi for corps members’ safety
Mr Dabo-Kagarko urged the Kebbi State government to increase the N2000 monthly stipend per corps members.
World
Tongues wag as South African woman arrested at Thailand airport with 16kg heroin hidden in pet food bags
“It’s their best job. That’s the end of her journey in life.
They blame immigrants, while they are the main source of the illicit drugs,” @sinzumee said.
Agriculture
BOA, ministry partner on financing of women farmers
Ms Sulaiman-Ibrahim emphasised the need to expand women’s access to finance, land ownership opportunities and agricultural inputs.
