By YANGE IKYAA
The Nigerian National Petroleum Company (NNPC) has used about N1.027 trillion from monies accruing to it from the federation’s account in a space of nine months, spanning between February and October 2021 as payment for the controversial petrol under-recovery, or subsidy, as it is publicly known.
This is according to an analysis of a document detailing the presentation of the national oil company to the Federation Account Allocation Committee (FAAC) in November.
Based on the average monthly figure previously taken by NNPC for this purpose, it is indicative that about N200 billion will be deducted by the state-owned company from the joint federal, state, and local government account when the FAAC meeting holds later in December to share the statutory monthly allocation.
This amount will be the highest figure deducted by the NNPC since it resumed payment of petroleum subsidies in February this year.