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2021 budget: Reps approve N74.7bn for Nigeria Police Trust Fund

2021 budget: Reps approve N74.7bn for Nigeria Police Trust Fund
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How NNPC, under Kyari, outmaneuvered low prices during pandemic without cutting jobs

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For Mele Kyari, it will be two years in the saddle as the Group Managing Director (GMD) of the NNPC, a period that has tried his guts and gusto.
The geologist was appointed in 2019 to manage the state-run oil Corp and average oil price when he was given the responsibility to run NNPC was $56.99 per barrel.
His jobs were immediately cut out: manage the corporation’s fiduciary responsibilities to Nigeria in the midst of the volatile and keep it afloat regardless.
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Indeed, Kyari’s selection to head the NNPC was roundly applauded by his colleagues in and out of the corporation. ....

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How NNPC, Under Kyari, Outmaneuvered Low Prices During Pandemic Without Cutting Jobs

How NNPC, Under Kyari, Outmaneuvered Low Prices During Pandemic Without Cutting Jobs
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Excess Crude Account balance as at May 18 stood at $72.4 million - NEC

Excess Crude Account balance as at May 18 stood at $72.4 million - NEC
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Pipeline vandalism: How NNPC spent N33bn on repairs in 13 months

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Despite dwindling revenue and increasing debt profile, the Nigerian National Petroleum Corporation (NNPC) spent about N33 billion on repairs and maintenance of pipelines within a space of 13 months.
The rate of pipeline vandalism has proven to be a recurrence, and as a result, part of the monthly remittances to the Federation Accounts is used for repairs and maintenance.
Between January 2020 and January 2021, data from the Federal Account and Allocation Committee (FAAC) showed that in the first quarter of 2020, a total of N10.2 billion was expended on repairs, with a crude and product loss valued at N21.6 billion.
In the second quarter of same year, the FAAC report also showed that despite the COVID-19 lock down which crippled economic activities across the country, N13.2 billion still went for repairs. ....

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