The Nigerian National Petroleum Corporation, NNPC, has clarified that the revenue projection contained in a letter to the Accountant-General of the Federation in the media pertains only to the federation revenue stream managed by the corporation and not a reflection of the overall financial performance of the corporation.
The Group General Manager, Group Public Affairs Division of NNPC, Kennie Obateru in a press release on Friday said the clarification became necessary in the light of reports insinuating that the corporation was in financial crisis.
NNPC maintains it is conscious of its role and was doing everything possible to shore up revenues and support the federation at all times.
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The corporation pledged to continue to pursue and observe its cost optimization process with a view to maximizing remittances to the federation account.
The corporation recently in a letter to the Accountant General Of The Federation On Wednesday April 28 projected remittance to the federation account for April to June 2021, which was inappropriately shared by unscrupulous persons and projected that it would deduct the sum of N112bn from oil and gas proceeds for the Month of April 2021 to ensure continuous supply of petroleum products to the country and guarantee energy security.
(Editor, Omor Bazuaye)
