Fear Of Federation Account Depletion Raises As Crude Nears $70       The international oil benchmark, Brent Crude, was less than 30 cents from hitting $70 amid market optimism on the United States and Europe reopening. The benchmark had gained $0.83, to trade at $69.71 as of 2:44...

Rising Oil Price Puts More Pressure on NNPC’s Finances       Crude oil extended its gains at the weekend after closing at a six-week high with signs of strengthening demand in key markets, thereby piling more pressure on the ability of the Nigerian National Petroleum Corporation (NNPC)...

'How 10 MDAs Yielded Only N400m To Federation Account In 2019'       Ten of at least 11  (MDAs) that remitted revenues to the federation account in 2019, yielded a paltry N400 million to the N2.6 billion independent revenue realised during the period, a report has revealed. According...

Eight Oil-producing States Received N6trn In 11 Years — Report       Eight oil-producing states received N6.589 trillion from the Federation Account under the 13 per cent derivation principle, between 2009 and 2019, with little or no impact on the lives of citizens of the states, according...

Remittance From NLNG Surpasses FG’s Target By N63.6bn           The share of dividend remitted to the Federal Government by the Nigeria Liquefied Natural Gas company between January and December 2020 exceeded the projected target in the 2020 revised budget of the government by N63.62bn. Nigeria LNG Limited...

CAC Generates N19bn, Remits N2.7bn To FG’s Account         The Corporate Affairs Commission on Monday announced a revenue generation of N19bn for its 2020 fiscal year. It also announced a total remittance of N2.7bn to the consolidated revenue account of the Federal Government. The Registrar-General, CAC, Garba Abubakar,...