NIGERIA’S FINANCE MINISTER QUERIES NNPC’S REMITTANCE TO FEDERAL GOVERNMENT

Nigeria’s finance minister said on Thursday proposed revenue payments by state oil company NNPC to the government account were unacceptable because they were less than expected in view of raised crude oil prices.

Kemi Adeosun, told the National Economic Council advisory body the company’s accounts had not been approved because some costs could not be justified. In a separate statement, NNPC said its 147 billion-naira ($482 million @ $1 = 305.2500 naira) June remittance to the government account was in line with terms agreed with state governors.

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