The Nigerian National Petroleum Company (NNPC) Limited has disclosed statutory payments totaling N10.07 trillion from January to August 2025, according to its Monthly Report Summary for September, released on Tuesday.
However, the report did not specify the purpose of these payments or identify the receiving organizations or regulators.
Despite the substantial figure, concerns have emerged over NNPC’s failure to meet its revenue remittance obligations to the Federation Account Allocation Committee (FAAC).
A report by Abuja-based policy think-tank Agora Policy highlighted that NNPC remitted only N534 billion as the federation’s share of profit oil from production sharing contracts (PSCs) between January and September 2025, indicating underperformance in its FAAC obligations.
The discrepancy between NNPC’s reported payments and its FAAC contributions has raised questions about transparency and accountability in the management of Nigeria’s oil revenues.
As the national oil company navigates its dual role as a commercial entity and a key contributor to federal coffers, stakeholders are calling for clearer disclosures to address the gap and ensure fiscal discipline.
SOURCE: nigerianeye.com