Connect with us

    Hi, what are you looking for?

    Business

    NNPC Not in Financial Straits – Says Obateru

    The Nigerian National Petroleum Corporation (NNPC) says that the Corporation is not in any financial straits as insinuated in certain sections of the media.

    Dr Kennie Obateru, General Manager, Group Public Affairs Division of the corporation, disclosed this in a statement in Abuja on Friday

    He said that the revenue projection contained in the letter to the Accountant General of the Federation (AGF) being cited in the media was only to the Federation revenue stream being managed by the Corporation

    Obateru said the projection was not a reflection of the overall financial performance of the Corporation.

    “NNPC maintains that it is conscious of its role and is doing everything possible to shore up revenues and support the Federation at all times.

    “The shortfall will be remedied by the corporation as it relates only to the Federation revenue stream being managed by the NNPC and does not reflect the overall financial performance of the corporation.

    “The NNPC remains in positive financial trajectory for the period in question,” it stated.

    He further said that the corporation pledged to continue to pursue and observe its cost optimisation process with a view to maximizing remittances to the Federation Account.

    Obateru promised that the NNPC would continue to meet its financial obligations to the Federation.

    Spread the love
    Click to comment

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    ad

    You May Also Like

    News

    The United States has reversed its visa restrictions on Ghana after the West African country agreed to accept west Africans deported by the United...

    E-Financial

    Shareholders of Unity Bank Plc have approved the proposed merger with Providus Bank Limited, marking a major milestone in the business combination of the...

    Oil and Gas

    The industrial dispute between the Dangote Petroleum Refinery and the Petroleum and Natural Gas Senior Staff Association of Nigeria took a dramatic turn on...

    World

    Late-night host Jimmy Kimmel didn’t hold back in mocking President Donald Trump after Trump claimed he was the target of “triple sabotage” during his...