The Nigerian National Petroleum Corporation (NNPC) says it has paid N85.96 billion into the Federation Account for January 2016.
This was contained in its Monthly Operations and Financial Report for January, released on Sunday in Abuja.
The corporation said it made the payment in spite of recording a loss of N3.55 billion in the same month.
It also said it paid N1.05 trillion into the Federation Account within a 12-month period, from February 2015 to January 2016.
Giving a breakdown of the amounts transferred in January, NNPC said N85.077 billion was from the sale of crude oil while N880.3 million was receipts from gas sales.
It noted that the corporation posted a loss of N3.55billion, compared to a loss of N11.86 billion recorded in December 2015.
According to the report, NNPC’s loss-making performance was triggered by a drop in its revenue from N184.4 billion recorded in December 2015 to N130.86 billion in January 2016.
The corporation said it recorded expenditure of N134.41 billion in the month under review compared to N196.26 billion in December 2015.
It also revealed that the Nigerian Petroleum Development Company, (NPDC), recorded a profit of N3.958 billion.
The Nigerian Gas Company, NNPC Retail and the Pipeline Products Marketing Company, PPMC, recorded profits of N3.94 billion, N477 million and N2.25 billion respectively.
It listed Integrated Data Services Limited, IDSL, National Engineering Technical Company, NETCO in loss category with losses of N557 million and N215 million respectively.
“The Kaduna, Port Harcourt and Warri Refineries posted losses of N2.87 billion, N1.95 billion and N900 million respectively.
“The NNPC Group’s Corporate Headquarter and Corporate Services Unit recorded a deficit of N6.37 billion and N1.32 billion respectively,” the corporation was quoted as saying.


http://www.pmnewsnigeria.com/2016/03/06/nnpc-pays-n85bn-into-federation-account/

The patient dog eats the fattest bone. Patience is a virtue wailer. Less I forget FTC.

Nice moves...wow i was second to comment..i thank jah

Cool

Money for budget don complete

Now we can laud the balussmatuc egoistic bamboo and sensible sense possed by the president. I wish him more goody-goodies and more crying-cries to the wailers. This is definitely a great news.




Anyways...




DrabeeyWasHere

Sai Baba!
Nigerians are you still looking for change?

Nice one

Same NNPC that is the seat of corruption in this country! Na dem know oh

This is a nice move by FG

With all this monies accruing into the federation account with the money recovered from corrupt politicians and the 50 Naira being deducted from our various accounts,I see no reason this government should therefore delay the payments of salaries.

Imagine NNPC that was forming untouchable before, just a matter of time the money will surface, except for some enemies of Nigeria that doesn't want to listen or hear a good news about this country.

our oil money!

Wailers make # 88 billion in January. for wailing. IPODs how far now.

Give us more

Drabeey:

before buhari with his northern and western brothers declared 85b,that means de have shared 200billion!buhari mad man is using de money he recovering 4rm other pple with his allies to purchase amunation he will use to fight de ibos again as de did b4!but de unexpected will fall upon them!jst watch

NIGERIA'S MOST CORRUPT PUBLIC COMPANY.

PHCN AND NPF STILL DEY LEARN WERE NNPC DEY

I know of a certain 5% that would hate this news of increase in government revenue as a result of NNPC doing the right. It's not too late for you all to change.

Good one

Person just dey read money..God help ooo,
Pick up

kai! just pay that money into my account

We are on course for profitability at the behemoth

Sweetlemon:
Sai Baba!
Nigerians are you still looking for change?

First, should you not find out how much was paid into the same Federation Account by NNPC in January 2015?

We need to see effect of all ds money saving since last year on our economy... #saiBaba

is this the very first time NNPC is paying into the federation's account?

i sense another propaganda!

How is the LOSS measured?

Okijajuju1:
That is CHNAGE right Thurrrrr..

Right thurrrr...!
Chingy!! Lol. That name's been a while.

Kudos to the government.

Hmmm

Some people will soon die of heart attack