NNPC's Federation Account Remittance Hits N11.41tn
The Nigerian National Petroleum Company Limited (NNPC) has remitted a total of N11.14tn ($26.6 million) to the Federation Account between January and September 2026, representing a 3.6% decrease compared to the same period in 2025.
Background Information
- NNPC is a state-owned oil and gas company in Nigeria responsible for managing the country's petroleum resources.
- The Federation Account is a shared account between the federal government, state governments, and local governments in Nigeria.
Factual Details
- Between January and September 2025, NNPC remitted N11.4tn to the Federation Account.
- In the same period in 2026, NNPC remitted N11.14tn to the account.
Comment from NNPC
</body> </html>"The NNPC Group Managing Director, Dr. Maikanti Baru, attributed the slight decrease in remittances to the company's efforts in optimizing its operations and improving efficiency,"
"He added that the company is committed to ensuring that its contributions to the Federation Account remain substantial to meet the developmental needs of the country."
<small>Source: Punch Nigeria — read the original story there.</small>