{"id":95300,"date":"2022-05-25T14:36:00","date_gmt":"2022-05-25T13:36:00","guid":{"rendered":"http:\/\/pointblanknews.com\/pbn\/?p=95300"},"modified":"2022-05-25T14:36:00","modified_gmt":"2022-05-25T13:36:00","slug":"nnpc-again-fails-to-remit-revenue-to-federation-account-as-it-deducts-n271bn-for-fuel-subsidy","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/exclusive\/nnpc-again-fails-to-remit-revenue-to-federation-account-as-it-deducts-n271bn-for-fuel-subsidy\/","title":{"rendered":"NNPC again fails to remit revenue to federation account as it deducts N271bn for fuel subsidy"},"content":{"rendered":"<p>The Nigerian National Petroleum Company (NNPC) Limited said it has deducted another N271.13 billion from its revenue to offset subsidy on petroleum products importation into the country in April 2022.<\/p>\n<div dir=\"auto\">\n<div dir=\"auto\">\n<div dir=\"auto\">\nSubsidy or under-recovery is the difference between the landing cost of petrol imports and the pump price of premium motor spirit (PMS), otherwise known as petrol.<\/p>\n<p>The state-run oil firm, NNPC has spent N947.53 billion on petrol subsidy this year \u2014 more than half of the 2021 subsidy estimate.<\/p>\n<p>In its monthly presentation to the Federation Account Allocation Committee (FAAC) meeting on Tuesday, the NNPC said it would deduct N371 billion for the shortfall in May 2022 during next month\u2019s FAAC meeting.<\/p><\/div>\n<div dir=\"auto\">\n\u201cThe Value Shortfall on the importation of PMS recovered from April 2022 proceeds is N271,125,127, 487,58 while the outstanding balance carried forward is N371 billion,\u201d the document reads.<\/p>\n<p>\u201cThe estimated Value Shortfall of N 874 503 649 663 98 bn (consisting of arrears of N 371 billion, plus estimated April 2022 Value Short Fall of N 503 313 767 828 14 is to be recovered from May 2022 proceed due for sharing at June 2022 FAAC Meeting,\u201d the oil firm stated in the document present to FAAC.<\/p>\n<p>In January, February and March 2022, petrol subsidy gulped 210.38 billion, N219.78 billion, and N245.77 billion, respectively.<\/p>\n<p>Nigeria budgeted a total of N4 trillion to fund the cost of petrol subsidies \u2014 as a result of high global oil prices due to the Russia-Ukraine war.<\/p>\n<p>In the month under review, the report said NNPC lifted overall crude oil of 8.80 million barrels (export domestic crude) in March 2022, representing a 10 per cent decrease relative to the 9.77 million barrels lifted in February 2022<\/p>\n<div class=\"yj6qo\"><\/div>\n<div class=\"adL\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>The Nigerian National Petroleum Company (NNPC) Limited said it has deducted another N271.13 billion from its revenue to offset subsidy on petroleum products importation into the country in April 2022.&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":91002,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[17],"tags":[],"class_list":["post-95300","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-exclusive"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>NNPC again fails to remit revenue to federation account as it deducts N271bn for fuel subsidy - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/exclusive\/nnpc-again-fails-to-remit-revenue-to-federation-account-as-it-deducts-n271bn-for-fuel-subsidy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NNPC again fails to remit revenue to federation account as it deducts N271bn for fuel subsidy - Pointblank News\" \/>\n<meta property=\"og:description\" content=\"The Nigerian National Petroleum Company (NNPC) Limited said it has deducted another N271.13 billion from its revenue to offset subsidy on petroleum products importation into the country in April 2022.&hellip;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/pointblanknews.com\/pbn\/exclusive\/nnpc-again-fails-to-remit-revenue-to-federation-account-as-it-deducts-n271bn-for-fuel-subsidy\/\" \/>\n<meta property=\"og:site_name\" content=\"Pointblank News\" \/>\n<meta property=\"article:published_time\" content=\"2022-05-25T13:36:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2022\/01\/NNPC.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"799\" \/>\n\t<meta property=\"og:image:height\" content=\"448\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Our Reporter\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Our Reporter\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/exclusive\/nnpc-again-fails-to-remit-revenue-to-federation-account-as-it-deducts-n271bn-for-fuel-subsidy\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/exclusive\/nnpc-again-fails-to-remit-revenue-to-federation-account-as-it-deducts-n271bn-for-fuel-subsidy\/\"},\"author\":{\"name\":\"Our Reporter\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/#\/schema\/person\/ba61acbe7e8967bcf3f3ba603d9db23c\"},\"headline\":\"NNPC again fails to remit revenue to federation account as it deducts N271bn for fuel subsidy\",\"datePublished\":\"2022-05-25T13:36:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/exclusive\/nnpc-again-fails-to-remit-revenue-to-federation-account-as-it-deducts-n271bn-for-fuel-subsidy\/\"},\"wordCount\":273,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/exclusive\/nnpc-again-fails-to-remit-revenue-to-federation-account-as-it-deducts-n271bn-for-fuel-subsidy\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2022\/01\/NNPC.jpg\",\"articleSection\":[\"Exclusive\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/pointblanknews.com\/pbn\/exclusive\/nnpc-again-fails-to-remit-revenue-to-federation-account-as-it-deducts-n271bn-for-fuel-subsidy\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/exclusive\/nnpc-again-fails-to-remit-revenue-to-federation-account-as-it-deducts-n271bn-for-fuel-subsidy\/\",\"url\":\"https:\/\/pointblanknews.com\/pbn\/exclusive\/nnpc-again-fails-to-remit-revenue-to-federation-account-as-it-deducts-n271bn-for-fuel-subsidy\/\",\"name\":\"NNPC again fails to remit revenue to federation account as it deducts N271bn for fuel subsidy - Pointblank News\",\"isPartOf\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/exclusive\/nnpc-again-fails-to-remit-revenue-to-federation-account-as-it-deducts-n271bn-for-fuel-subsidy\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/exclusive\/nnpc-again-fails-to-remit-revenue-to-federation-account-as-it-deducts-n271bn-for-fuel-subsidy\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2022\/01\/NNPC.jpg\",\"datePublished\":\"2022-05-25T13:36:00+00:00\",\"author\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/#\/schema\/person\/ba61acbe7e8967bcf3f3ba603d9db23c\"},\"breadcrumb\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/exclusive\/nnpc-again-fails-to-remit-revenue-to-federation-account-as-it-deducts-n271bn-for-fuel-subsidy\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/pointblanknews.com\/pbn\/exclusive\/nnpc-again-fails-to-remit-revenue-to-federation-account-as-it-deducts-n271bn-for-fuel-subsidy\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/exclusive\/nnpc-again-fails-to-remit-revenue-to-federation-account-as-it-deducts-n271bn-for-fuel-subsidy\/#primaryimage\",\"url\":\"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2022\/01\/NNPC.jpg\",\"contentUrl\":\"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2022\/01\/NNPC.jpg\",\"width\":799,\"height\":448},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/exclusive\/nnpc-again-fails-to-remit-revenue-to-federation-account-as-it-deducts-n271bn-for-fuel-subsidy\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/pointblanknews.com\/pbn\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"NNPC again fails to remit revenue to federation account as it deducts N271bn for fuel subsidy\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/#website\",\"url\":\"https:\/\/pointblanknews.com\/pbn\/\",\"name\":\"Pointblank News\",\"description\":\"Just the news\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/pointblanknews.com\/pbn\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/#\/schema\/person\/ba61acbe7e8967bcf3f3ba603d9db23c\",\"name\":\"Our Reporter\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/83b3820ef93d502ae3a617b2c881ca42?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/83b3820ef93d502ae3a617b2c881ca42?s=96&d=mm&r=g\",\"caption\":\"Our Reporter\"},\"url\":\"https:\/\/pointblanknews.com\/pbn\/author\/admin\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"NNPC again fails to remit revenue to federation account as it deducts N271bn for fuel subsidy - Pointblank News","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/pointblanknews.com\/pbn\/exclusive\/nnpc-again-fails-to-remit-revenue-to-federation-account-as-it-deducts-n271bn-for-fuel-subsidy\/","og_locale":"en_US","og_type":"article","og_title":"NNPC again fails to remit revenue to federation account as it deducts N271bn for fuel subsidy - Pointblank News","og_description":"The Nigerian National Petroleum Company (NNPC) Limited said it has deducted another N271.13 billion from its revenue to offset subsidy on petroleum products importation into the country in April 2022.&hellip;","og_url":"https:\/\/pointblanknews.com\/pbn\/exclusive\/nnpc-again-fails-to-remit-revenue-to-federation-account-as-it-deducts-n271bn-for-fuel-subsidy\/","og_site_name":"Pointblank News","article_published_time":"2022-05-25T13:36:00+00:00","og_image":[{"width":799,"height":448,"url":"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2022\/01\/NNPC.jpg","type":"image\/jpeg"}],"author":"Our Reporter","twitter_misc":{"Written by":"Our Reporter","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/pointblanknews.com\/pbn\/exclusive\/nnpc-again-fails-to-remit-revenue-to-federation-account-as-it-deducts-n271bn-for-fuel-subsidy\/#article","isPartOf":{"@id":"https:\/\/pointblanknews.com\/pbn\/exclusive\/nnpc-again-fails-to-remit-revenue-to-federation-account-as-it-deducts-n271bn-for-fuel-subsidy\/"},"author":{"name":"Our Reporter","@id":"https:\/\/pointblanknews.com\/pbn\/#\/schema\/person\/ba61acbe7e8967bcf3f3ba603d9db23c"},"headline":"NNPC again fails to remit revenue to federation account as it deducts N271bn for fuel subsidy","datePublished":"2022-05-25T13:36:00+00:00","mainEntityOfPage":{"@id":"https:\/\/pointblanknews.com\/pbn\/exclusive\/nnpc-again-fails-to-remit-revenue-to-federation-account-as-it-deducts-n271bn-for-fuel-subsidy\/"},"wordCount":273,"commentCount":0,"image":{"@id":"https:\/\/pointblanknews.com\/pbn\/exclusive\/nnpc-again-fails-to-remit-revenue-to-federation-account-as-it-deducts-n271bn-for-fuel-subsidy\/#primaryimage"},"thumbnailUrl":"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2022\/01\/NNPC.jpg","articleSection":["Exclusive"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/pointblanknews.com\/pbn\/exclusive\/nnpc-again-fails-to-remit-revenue-to-federation-account-as-it-deducts-n271bn-for-fuel-subsidy\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/pointblanknews.com\/pbn\/exclusive\/nnpc-again-fails-to-remit-revenue-to-federation-account-as-it-deducts-n271bn-for-fuel-subsidy\/","url":"https:\/\/pointblanknews.com\/pbn\/exclusive\/nnpc-again-fails-to-remit-revenue-to-federation-account-as-it-deducts-n271bn-for-fuel-subsidy\/","name":"NNPC again fails to remit revenue to federation account as it deducts N271bn for fuel subsidy - Pointblank News","isPartOf":{"@id":"https:\/\/pointblanknews.com\/pbn\/#website"},"primaryImageOfPage":{"@id":"https:\/\/pointblanknews.com\/pbn\/exclusive\/nnpc-again-fails-to-remit-revenue-to-federation-account-as-it-deducts-n271bn-for-fuel-subsidy\/#primaryimage"},"image":{"@id":"https:\/\/pointblanknews.com\/pbn\/exclusive\/nnpc-again-fails-to-remit-revenue-to-federation-account-as-it-deducts-n271bn-for-fuel-subsidy\/#primaryimage"},"thumbnailUrl":"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2022\/01\/NNPC.jpg","datePublished":"2022-05-25T13:36:00+00:00","author":{"@id":"https:\/\/pointblanknews.com\/pbn\/#\/schema\/person\/ba61acbe7e8967bcf3f3ba603d9db23c"},"breadcrumb":{"@id":"https:\/\/pointblanknews.com\/pbn\/exclusive\/nnpc-again-fails-to-remit-revenue-to-federation-account-as-it-deducts-n271bn-for-fuel-subsidy\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/pointblanknews.com\/pbn\/exclusive\/nnpc-again-fails-to-remit-revenue-to-federation-account-as-it-deducts-n271bn-for-fuel-subsidy\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/pointblanknews.com\/pbn\/exclusive\/nnpc-again-fails-to-remit-revenue-to-federation-account-as-it-deducts-n271bn-for-fuel-subsidy\/#primaryimage","url":"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2022\/01\/NNPC.jpg","contentUrl":"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2022\/01\/NNPC.jpg","width":799,"height":448},{"@type":"BreadcrumbList","@id":"https:\/\/pointblanknews.com\/pbn\/exclusive\/nnpc-again-fails-to-remit-revenue-to-federation-account-as-it-deducts-n271bn-for-fuel-subsidy\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/pointblanknews.com\/pbn\/"},{"@type":"ListItem","position":2,"name":"NNPC again fails to remit revenue to federation account as it deducts N271bn for fuel subsidy"}]},{"@type":"WebSite","@id":"https:\/\/pointblanknews.com\/pbn\/#website","url":"https:\/\/pointblanknews.com\/pbn\/","name":"Pointblank News","description":"Just the news","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/pointblanknews.com\/pbn\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/pointblanknews.com\/pbn\/#\/schema\/person\/ba61acbe7e8967bcf3f3ba603d9db23c","name":"Our Reporter","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/pointblanknews.com\/pbn\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/83b3820ef93d502ae3a617b2c881ca42?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/83b3820ef93d502ae3a617b2c881ca42?s=96&d=mm&r=g","caption":"Our Reporter"},"url":"https:\/\/pointblanknews.com\/pbn\/author\/admin\/"}]}},"_links":{"self":[{"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/posts\/95300","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/comments?post=95300"}],"version-history":[{"count":0,"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/posts\/95300\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/media\/91002"}],"wp:attachment":[{"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/media?parent=95300"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/categories?post=95300"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/tags?post=95300"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}