NNPC loses N255.28bn in 11 months – Report

The total loss of the Nigerian National Petroleum Corporation (NNPC) from January to November 2015 has been put at N255.28bn, as against N240.98bn which it recorded from January to October in the same year, The Punch reports.

An analysis of the corporation’s financial report for October and November 2015 showed a difference of N14.3bn between the two months. The oil firm’s latest financial report also showed that the NNPC had made dollar payments totalling $607.8m to the Federal Accounts and Allocation Committee from January to November 2015.

On the naira payments to the Federal Government, the corporation said, “The sum of N933.1bn for domestic crude oil and gas and other receipts was paid to the Federation Account from January to November 2015.”