Nigerian National Petroleum Corporation, NNPC, earned $180.93 million, about N55.2 billion, from the export of crude oil and gas in the month of August 2016.
This, according to the NNPC Monthly Financial and Operations Report for August 2016, represented a decline of 14.76 per cent when compared with crude oil and gas export revenue of $212.25 million recorded in July 2016.
Giving a breakdown of the figures, the report noted that the NNPC earned $120.84 million from crude oil exports; $60.09 million from gas exports, while $935 million was earned from other petroleum product exports. Of the total receipt, NNPC explained that the sum of $157.05 million and $23.88 million were remitted to fund Joint Venture, JV, Cash Call and Federation Account respectively. Read more