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Nairaland Forum / Nairaland / General / Politics / NNPC Remits N1.118 Trillion Into Federation Account In One Year (9550 Views)
What Is The Contribution Of South East Region To The Federation Account? / NCC Remits N70 Billion Into Federation Account / NNPC Remits 1.118 Trillion Into Federation's Account In 1 Year. -TODAY. NG (2) (3) (4)
NNPC Remits N1.118 Trillion Into Federation Account In One Year by Caseless: 5:04pm On May 08, 2016 |
The Nigerian National Petroleum Corporation, NNPC, said it paid N1.118 trillion into the Federation Account between April 2015 and March 2016. In its monthly financial report for March, the agency said as part of the total, it paid N69.544 billion into the Federation Account in March. The money was from domestic crude oil and gas sold as well as other income. It added that NNPC also recorded N107.826 billion revenue in March against N104.804 in February. It said that the revenue rose marginally by 2.88 per cent, adding that the expenses of the corporation dipped by 12.92 per cent to N112.368 billion from N129, 034 billion recorded in previous month. According to the report, the corporation also made a loss of N18.89 billion in the month under review. It said the loss was an improvement from a deficit of N24.23 billion recorded in February. A breakdown of the financial performance of its subsidiaries showed that the Nigerian Petroleum Development Company, NPDC, Integrated Data Services Limited, IDSL, and National Engineering and Technical Company Limited posted losses of N9.874 billion, N469 million and N69 million, respectively. It reported that the Nigerian Gas Company recorded a profit of N5.155 billion. “Kaduna, Port Harcourt and Warri refining companies recorded losses of N1.824 billion, N1.971 billion and N845 million, respectively, while the PPMC recorded a deficit of N923 million,” it added. The report said that the deficit recorded by NPDC in February and March 2016 were due to production shut–in occasioned by vandalism of Forcados Export Line. This, it said resulted in the loss of its entire revenue from crude oil sales of about ₦20 billion. The report also put the combined value of output by the three refineries at import parity price in March 2016 at N22.93 billion, while the associated crude plus freight cost was N20.02 billion. It said that this gave negative margin of N3.95 billion after considering overhead of N6.87 billion. The report also said that a total of N85.66 billion was collected as sales revenue from white products sold by PPMC in the month of March 2016 compared with N85.23 billion collected in the previous month. “Total revenues generated from the sales of white products for the period April 2015 to March 2016 stands at N775.90 billion where PMS contributed about 88.85 per cent of the revenues collected with a value of N689.41 billion.” The NNPC recorded total export proceeds of $170.12 million in the month under review with crude oil export accounting for $98.31 million, while gas export accounted for $71.81 million. On dollar payments to Joint Venture Cash Call, it said total export proceeds of $141.87 million were recorded in March, 2016 consisting of crude oil receipt of 88.36 million dollars. It added that Liquefied Petroleum Gas, LPG, and Escravos Gas to Liquid, EGTL, recorded proceed of 1.52 million dollars and Miscellaneous receipts amounting to 51.99 million dollars. “The drastic slump in total export receipt is largely due to shut in of about 300,000 barrel of oil per day (bopd) at Forcados Terminal following the force majeure declared by Shell Petroleum Development Company (SPDC) on 15th February, 2016. “Hence, all un-lifted February and March cargoes were deferred until the repair is completed.” https://www.today.ng/business/118768/nnpc-remits-118-trillion-federation-account-year 1 Like
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Re: NNPC Remits N1.118 Trillion Into Federation Account In One Year by Aremu01(m): 5:10pm On May 08, 2016 |
Sai Buhari 12 Likes 1 Share |
Re: NNPC Remits N1.118 Trillion Into Federation Account In One Year by Frank3n2(m): 5:15pm On May 08, 2016 |
Buhari is working!! Hope they utilize the money for the poor masses... Let it not end up in the pocket of few men.. 11 Likes |
Re: NNPC Remits N1.118 Trillion Into Federation Account In One Year by Frank3n2(m): 5:15pm On May 08, 2016 |
Buhari is working!! Hope they utilize the money for the poor masses... Let it not end up in the pocket of few men.. 3 Likes |
Re: NNPC Remits N1.118 Trillion Into Federation Account In One Year by Caseless: 5:16pm On May 08, 2016 |
Frank3n2: 11 Likes
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Re: NNPC Remits N1.118 Trillion Into Federation Account In One Year by patrickmuf(m): 5:18pm On May 08, 2016 |
Nice one...Things will definitely get better... 1 Like |
Re: NNPC Remits N1.118 Trillion Into Federation Account In One Year by Caseless: 5:19pm On May 08, 2016 |
Aremu01:the 'masquerade-dressers' won't like this. 12 Likes |
Re: NNPC Remits N1.118 Trillion Into Federation Account In One Year by Taeewo(m): 5:29pm On May 08, 2016 |
Good one |
Re: NNPC Remits N1.118 Trillion Into Federation Account In One Year by rottennaija(m): 5:30pm On May 08, 2016 |
And this isn't change? 5 Likes |
Re: NNPC Remits N1.118 Trillion Into Federation Account In One Year by LadyExcellency: 5:31pm On May 08, 2016 |
Who do we believe? NNPC Made No Dollar Remittance To Federation Account For 8 Months http://www.dailytrust.com.ng/news/business/nnpc-made-no-dollar-remittance-to-federation-account-for-8-months/126896.html 1 Like 1 Share |
Re: NNPC Remits N1.118 Trillion Into Federation Account In One Year by Caseless: 5:43pm On May 08, 2016 |
LadyExcellency: You can choose what to believe as usual. 13 Likes |
Re: NNPC Remits N1.118 Trillion Into Federation Account In One Year by Bassee(m): 5:44pm On May 08, 2016 |
Lol. LadyExcellency:Lol. I believe this anyway. 1.1 trillion and the President is still junketing begging for alms? 6 Likes |
Re: NNPC Remits N1.118 Trillion Into Federation Account In One Year by wowmenow: 5:46pm On May 08, 2016 |
Another lies and propaganda Buhari receive such money and the economy is in mess 6 Likes 1 Share |
Re: NNPC Remits N1.118 Trillion Into Federation Account In One Year by wordbank(m): 5:53pm On May 08, 2016 |
Trash! NLNG, Shell, NNPC and other companies remits huge amount of money into the federation's account yet Mr. President borrow. How can you explain this to the common man 6 Likes |
Re: NNPC Remits N1.118 Trillion Into Federation Account In One Year by Nobody: 5:56pm On May 08, 2016 |
wowmenow:One of the pained Nnamdi kanu abi kalu followers,if you are not happy,go report to Nnamdi kanu. 16 Likes |
Re: NNPC Remits N1.118 Trillion Into Federation Account In One Year by yaki84: 6:04pm On May 08, 2016 |
they forget to tell u that the money had long been shared amongst state, federal n local govt. from april 2015 till march, faac hv shared trillions ofnaira among states. so this oneno be news. if at all na news, why is foreign reserve not increasing instead its decreasing every month? caseless stop trying hard to paint buhari whitewhen he is certified dark n dirty dullard. 7 Likes 1 Share |
Re: NNPC Remits N1.118 Trillion Into Federation Account In One Year by LouisVanGaal(m): 6:10pm On May 08, 2016 |
LadyExcellency:In your calendar, does 8months equate a year?? 6 Likes |
Re: NNPC Remits N1.118 Trillion Into Federation Account In One Year by tomakint: 6:50pm On May 08, 2016 |
LouisVanGaal:. . so the N1.18 trillion was raised within 4 months right? I just like your warped logic D 7 Likes |
Re: NNPC Remits N1.118 Trillion Into Federation Account In One Year by LouisVanGaal(m): 8:29pm On May 08, 2016 |
tomakint:what if they had decided to pay it @ the end. Of the year? Since it's an annual stuff... 5 Likes |
Re: NNPC Remits N1.118 Trillion Into Federation Account In One Year by BushidoBlue(m): 10:09pm On May 08, 2016 |
Caseless: By masquerade-dressers do you mean yourself and Lai Mohammed? Because we heard it from your APC "bottom pot" Besides if in 1 year NNPC remitted more than #1trn, what is the President doing going to beg for the equivalent of #1trn from China?? 3 Likes |
Re: NNPC Remits N1.118 Trillion Into Federation Account In One Year by Caseless: 10:09pm On May 08, 2016 |
Mynd44, lalasticlala |
Re: NNPC Remits N1.118 Trillion Into Federation Account In One Year by cuteraeh(m): 8:01am On May 09, 2016 |
What the past administration failed to do 2 Likes |
Re: NNPC Remits N1.118 Trillion Into Federation Account In One Year by epospiky(m): 8:03am On May 09, 2016 |
reading...done. Hope we feel the impact positively sha |
Re: NNPC Remits N1.118 Trillion Into Federation Account In One Year by Nobody: 8:03am On May 09, 2016 |
Yinmu |
Re: NNPC Remits N1.118 Trillion Into Federation Account In One Year by fumisexy: 8:04am On May 09, 2016 |
this a whole lot of money entering one account in a year |
Re: NNPC Remits N1.118 Trillion Into Federation Account In One Year by DropShot: 8:04am On May 09, 2016 |
Great |
Re: NNPC Remits N1.118 Trillion Into Federation Account In One Year by Kingspin(m): 8:05am On May 09, 2016 |
Coming from NNPC, alone. No wonder some people love one Nigeria pass. Oil is declining yet is feeding the entire country and beyond. The next is to share the money across lazy states. If agric can give us 2 trillion then is change. I see no change, 2pac 1 Like |
Re: NNPC Remits N1.118 Trillion Into Federation Account In One Year by daddychelsea(m): 8:06am On May 09, 2016 |
Stories 2 d gods so we av dis kind of money yet we went 2 China begging 4 money. Abg make una no d kind news wey una go give us here no b small children dey here. |
Re: NNPC Remits N1.118 Trillion Into Federation Account In One Year by Nobody: 8:07am On May 09, 2016 |
daddychelsea: The money we have at hand it still not enough. Yes...it is good NNPC is remitting N1.18 trillion. But our budget is just N8 trillion. We need far more money than that. That is why we have to stop relying on oil....and start relying on scientific innovation and development. And that is why corruption is wrong. Because...we cannot afford people stealing our money. |
Re: NNPC Remits N1.118 Trillion Into Federation Account In One Year by davodyguy: 8:07am On May 09, 2016 |
rottennaija:To the haters and the bittered yoot over the loss of GEJ last year, it isnt change but one chance |
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