JV Oil Assets Suffer As NNPC Slashes Funding       The nation’s oil and gas assets being developed through joint ventures between the Nigerian National Petroleum Corporation and private firms are suffering funding shortfall as cash call payment by the NNPC has hit a record low. Amid the...

NNPC Petrol Sales Revenue Drops Despite Price Hike       The volume of petrol sold by the Petroleum Products Marketing Company, a subsidiary of the Nigerian National Petroleum Corporation, dropped in the first two consecutive months of price hike, latest data from the NNPC have shown. The PPMC...

FRC Boosts FG’s Revenue With N1.7trn Since 2007         Since 2007 to date, the Fiscal Responsibility Commission (FRC) caused over N1.7 trillion to be remitted to the Consolidated Revenue Fund (CRF) of the Federal Government To harvest more revenue into the CFR, the FRC is proposing amendments...

NNPC Denies Non-remittance of N21bn Revenue To Federal Account         The Nigerian National Petroleum Corporation (NNPC) has denied allegations it did not remit N21bn revenue from Nigeria Liquefied Natural Gas (NLNG) to the Federation Account. Its Group Managing Director (GMD) Mele Kyari dismissed the allegation as pedestrian...

Aviation Fuel Revenue Drops By N14.9bn In Nine Months         The total revenue generated by two of the major oil marketing companies in the country from the sale of aviation fuel plunged by 58.2 per cent in the first nine months of the year, compared with...

AfDB Develops 3-year Project For Revenue Generation In Extractive Industry           The African Development Bank (AfDB) has developed a three-year project in response to demands by member countries for technical assistance to monitor revenues generated from their extractive industries. The AfDB made this known during a virtual...