The Nigerian National Petroleum Corporation (NNPC) has revealed that it remitted 1.26 trillion to the Federation Account in 2018. It noted that the monies were against the N1.22 trillion projected in the 2018 budget, recording a surplus of N41billion.
Managing Director of NNPC Capital, Mr. Godwin Okonkwo, made this submission when he represented the Group Managing Director, Dr. 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 corporation between July 2017 and December 2018, at the National Assembly Complex in Abuja.
A statement by NNPC spokesman Mr. Ndu Ughamadu, on Tuesday, quoted the GMD as saying that though 2.3 million barrels per day (mbpd) was proposed in the 2018 budget, national daily production for the period under review oscillates between 1.9 mbpd to 1.89 mbpd.
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