The Nigerian National Petroleum Corporation’s (NNPC) financial and operations report released on Friday showed that between December 2015 and January 2016, the operating revenue of the Corporation fell by N53.54bn, The Punch reports.
According to the report, which was for the month of January 2016, the corporation’s group operating revenue for December 2015 was N184.4bn, while it made N130.86bn in the month of January this year. This represents 58.63 per cent and 41.6 per cent respectively of monthly budget.”
It also noted that the operating expenditure for the same periods were N196.26bn and N134.41bn respectively, which also represents 72.61 per cent and 49.73 per cent of the budget for the months respectively. The report stated that the corporation recorded N11.86bn and N3.55bn shortfalls for the months of December 2015 and January 2016 respectively as against monthly budgeted surplus of N44.23bn.