The World Bank says revenue remitted by the Nigerian National Petroleum Company (NNPC) Limited dropped by N500 billion in 2024 despite a surge in gross revenues collected by Nigeria’s main revenue agencies in the year. In the latest World Bank Nigeria Development Update (NDU), published on May 12, the Bretton Woods organisation said NNPC’s remittance to the federation account dropped from N1.1 trillion in 2023 to N600 billion in 2024. On May 29, President Bola Tinubu said the petrol subsidy regime was over. Three months later, TheCable reported that Tinubu…
Read MoreNNPC’s FAAC Remittance Dropped By N500bn In 2024 – World Bank
