The Nigerian National Petroleum Corporation (NNPC) has said it transferred one hundred and fifty-three billion naira into the federation account in January.
The corporation disclosed this in its Financial and Operations Report for the month of January released in Abuja on Sunday.
The corporation also said that it made a trade surplus of N15.04billion for January 2019, an increase of 24 per cent over the N12.13 billion surplus posted by the corporation in December 2019.
It attributed the positive financial position to the improved performance of NNPC’s upstream subsidiary, Nigerian Petroleum Development Company (NPDC) which recorded surplus numbers in spite of reduced operational activities in the month.
The report submitted that NPDC’s sustained revenue drive, evident from recent average weekly production of 332,000 barrels of Crude oil per day.
The report noted that this has made achieving 500,000 barrel per day production by 2020 plausible.
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