NNPC remits N2.7bn from January to June 2022

The Nigerian National Petroleum Company Limited has remitted a total of N2.7bn into its accounts with the Central Bank of Nigeria from January to June this year, a document on NNPC remittances to CBN has showed.

The document stated that out of the $2.7bn the oil firm remitted into its CBN accounts, $645m was for dividend paid by the Nigerian Liquefied Natural Gas company Limited.

It added that $1.786bn was from the operational activities of the national oil company, which recently transited into a limited liability company.

Earlier, the CBN said the non-remittance of dollars by NNPC formed part of the reasons for forex crisis in the country and the weakening of the Naira in a report titled, “The forex question in Nigeria: Fact sheet.”

Further details showed that the NNPC Limited remitted $18.77 million in January 2022; $194. 56 million in February 2022; and $373. 233 million in March 2022.

Other NNPC remittances were $247.884 million in April 2022; $591.565 million in May 2022; and $880.906 million (June 2022).

NP/Hauwa Abu