Nigeria: Senate - NNPC Reported Deficit of N3.1 Trillion Between 2012 and 2016

24 October 2017

Abuja — Despite generating N15.5 trillion between 2012 and 2016, the Nigerian National Petroleum Corporation (NNPC) recorded a deficit of N3.1 trillion, with its expenditure put at N18.6 trillion in the period under review.

This was revealed in the interim report of the Senate Ad hoc Committee on alleged misuse and under-remittances of Internally Generated Revenue (IGR), by revenue generating agencies of the federal government. The report, which was laid before the Senate last week, would be considered this week.

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