By Ife Osemedua
365Daily – The Nigerian National Petroleum Corporation (NNPC) has explained that the zero revenue remittance projection reported in its letter to the Accountant General of the Federation(AGF) was only in relation to the revenue stream it manages for the country.
The NNPC had, in a letter to the Accountant General of the Federation, projected that it would deduct N112 billion from Oil and Gas proceeds for the month of April 2021 to ensure continuous supply of petroleum products to the country and guarantee energy security.
In a clarification contained in a press statement issued by its Spokesman, Kennie Obateru, on Friday, April 30, 2021, the Corporation explained that the content of the letter was misinterpreted.
Obateru said the letter was inappropriately shared by unscrupulous persons, giving rise to reports of impending revenue shortfalls with dire consequences for the various tiers of government.
The statement explained that the letter was not a reflection of the overall financial performance of the Corporation and assured that the NNPC was doing everything possible to shore up revenues to support the Federation’s earnings.
It stated: “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”, Obateru stated.