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Posted: 2025-05-13 14:23:24 UTC
This article contains some claims that remain unverified. While much of the content may be accurate, exercise care when relying on this information.
This article contains some claims that remain unverified. While much of the content may be accurate, exercise care when relying on this information.
Status
Last Updated
2025-05-13 14:24:19 UTC
Verified By
Rollup News
NNPC began remitting subsidy removal proceeds to the Federation Account in January 2025, initially paying only 50% monthly to clear subsidy arrears. This move is part of NNPC's preparation for listing on the stock exchange and is expected to strengthen the economy as 100% of oil sales are declared and invested in projects like AKK.
Subsidy removal proceeds remitted to Federation Account
NNPC preparing for stock exchange listing
Strengthening of the economy through full oil sales declaration
Delay in refineries affecting initial expectations
Clearing of accrued subsidy payment arrears