The Nigerian National Petroleum Company (NNPC) Limited-remitted revenue dropped by N500 billion in 2024 in spite of a surge in gross revenues collected by Nigeria’s main revenue agencies in the year, the World Bank has revealed. In the latest World Bank Nigeria Development Update (NDU), published on May 12, the Bretton Woods organisation said NNPC’s remittance to the Federation Account dropped from N1.1 trillion in 2023 to N600 billion in 2024. President Bola Ahmed Tinubu, on May 29, said the petrol subsidy regime was over. Three months later, it was reported that Tinubu was…
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