NNPC Remits N7.9tn To Federation As Revenue Surges

By Niger Delta Reporters

The Nigerian National Petroleum Company Limited has reportedly remitted N7.9 trillion to the Federation as government revenue reached N3.087 trillion in one month.

The figures underline the continuing importance of the petroleum sector to Nigeria's public finances.

The development comes as the Federal Government seeks to strengthen revenue generation and reduce dependence on borrowing.

Increased petroleum revenue could provide additional fiscal space for government, although questions remain over how such revenue will translate into infrastructure and improved living conditions.

Niger Delta Reporters will continue monitoring Nigeria's petroleum revenue and fiscal situation.