NNPC recorded N1trn profit in eight months but remitted zero dividend to federation account
[NigerianEye - Nigeria] - 20/09/2025
The Nigerian National Petroleum Company (NNPC) Limited got N1.06 trillion from production sharing contract (PSC) profit oil between January and August 2025, according to the firm’s Federation Account Allocation Committee (FAAC) report. The FAAC report showed that the NNPC did not remit any dividend to the federation account during the period — despite a projected N2.16 trillion remittance for the eight-month period. The PSC is an agreement between the NNPC (on behalf of the government) and oil companies that sets out how extracted resources are shared. Under the arrangement, “profit oil” (…)
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