Pres. Tinubu reportedly approves use of NNPC dividends for fuel subsidy

President Bola Tinubu has reportedly given approval to the Nigerian National Petroleum Company (NNPC) Limited to use the 2023 final dividends owed to the federation to cover the cost of petrol subsidies. BusinessDay reports that the president approved a halt on the payment of 2024 interim dividends to the federation to help boost NNPC’s cash flow. According to the report, […]

  Updates   Aug 20, 2024   0   38  Add to Reading List
Pres. Tinubu reportedly approves use of NNPC dividends for fuel subsidy


Click the link to join the registration on WhatsApp: https://chat.whatsapp.com/KThkuZlWaTcCu3iJHGBmLM


Click the link to join the registration on WhatsApp: https://chat.whatsapp.com/KThkuZlWaTcCu3iJHGBmLM


Click the link to join the registration on WhatsApp: https://chat.whatsapp.com/KThkuZlWaTcCu3iJHGBmLM

President Bola Tinubu has reportedly given approval to the Nigerian National Petroleum Company (NNPC) Limited to use the 2023 final dividends owed to the federation to cover the cost of petrol subsidies.

BusinessDay reports that the president approved a halt on the payment of 2024 interim dividends to the federation to help boost NNPC’s cash flow.

According to the report, the NNPC informed the president that due to the subsidy payments, it is currently unable to pay taxes and royalties into the federation account, referring to this as a “subsidy shortfall/FX differential”.

The report which is based on a forecast from NNPC, obtained by the newspaper, indicated that the total petrol subsidy expenses from August 2023 to December 2024 will amount to N6.884 trillion, leaving the company unable to remit N3.987 trillion in taxes and royalties to the federation account.

Read Original   

What's Your Reaction?

like

dislike

love

funny

angry

sad

wow

Keep advertising to get more people

You could reach thousands of more people for every ₦1,000 you spend. https://doacweb.com/advertising

Adverts on doacWeb can be informative, educative or persuasive in nature.

doacWeb Ads is always directed at a broad audience (reaching thousands of people day by day), not few individuals — it deliver your advert to the target audience at the same time. Putting your offer in front of the right people — who have the money and interest in what you sell.

doacWeb Advertising gives you advantage as adverts passes through https://doacweb.com to the internet, reaching millions of people over the internet, and to grow your audience.

Grow your business, Be known, Boost your visibility, Drive engagements, Get new customers and Increase sales.

doacWeb acts as a global advertising media, to let people — individuals — and businesses, to promote and reach more interested people.

Get Started.

WhatsApp: 09031633831

Email: info@doacweb.com
Keep advertising to get more people

You could reach thousands of more people for every ₦1,000 you spend. https://doacweb.com/advertising

Adverts on doacWeb can be informative, educative or persuasive in nature.

doacWeb Ads is always directed at a broad audience (reaching thousands of people day by day), not few individuals — it deliver your advert to the target audience at the same time. Putting your offer in front of the right people — who have the money and interest in what you sell.

doacWeb Advertising gives you advantage as adverts passes through https://doacweb.com to the internet, reaching millions of people over the internet, and to grow your audience.

Grow your business, Be known, Boost your visibility, Drive engagements, Get new customers and Increase sales.

doacWeb acts as a global advertising media, to let people — individuals — and businesses, to promote and reach more interested people.

Get Started.

WhatsApp: 09031633831

Email: info@doacweb.com
Keep advertising to get more people

You could reach thousands of more people for every ₦1,000 you spend. https://doacweb.com/advertising

Adverts on doacWeb can be informative, educative or persuasive in nature.

doacWeb Ads is always directed at a broad audience (reaching thousands of people day by day), not few individuals — it deliver your advert to the target audience at the same time. Putting your offer in front of the right people — who have the money and interest in what you sell.

doacWeb Advertising gives you advantage as adverts passes through https://doacweb.com to the internet, reaching millions of people over the internet, and to grow your audience.

Grow your business, Be known, Boost your visibility, Drive engagements, Get new customers and Increase sales.

doacWeb acts as a global advertising media, to let people — individuals — and businesses, to promote and reach more interested people.

Get Started.

WhatsApp: 09031633831

Email: info@doacweb.com