Report: NNPC Spent Over 5bn USD On Fuel Importation Outside DSDP Contract In 28 Months
Up until March 2020, when it announced an end to under recovery, the corporation had been withholding revenue from the federation account in the guise of subsidy losses.
by Kelechukwu Ogu
May 20, 2021
Within a 28-month window spanning July 2018 to October 2020, the Nigeria National Petroleum Corporation (NNPC) lifted crude worth $5.40bn beyond the Direct Sale Direct Purchase contract it has for refining its daily petroleum allocation of 445,000 barrels.
The state-owned firm executed this extra order, despite failure to lift up to 300,000 of the 445,000 daily allocation it ought to have been refining in its inactive refineries.
SPECIAL REPORT: How Nigerian National Petroleum Commission Frustrated Revenue Generation By Oversupplying PMS Market saharareporters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from saharareporters.com Daily Mail and Mail on Sunday newspapers.