NNPCL Demands ₦4.7 Trillion Petrol Imports Refund
NNPCL Demands ₦4.7 Trillion Petrol Imports Refund
The Nigerian National Petroleum Company Limited has demanded a refund of N4.71tn from the Federal Government to settle outstanding debts used to import Premium Motor Spirit, popularly called petrol, into the country.
The claim was listed as “Exchange rate differential on PMS and other joint venture taxes” on petrol products imported by the company between August 2023 to June 2024.
This was disclosed by the Minister of Finance and the Coordinating Minister of the Economy, Wale Edun, at the June meeting of the Federation Accounts Allocation Committee. Our correspondent obtained the minutes of the meeting on Thursday.
Exchange rate differentials refer to the income accrued to banks or government agencies from the difference in value between two currencies at different times through foreign exchange’s sale and purchase prices.
Source:- Punchng
Related posts:
- BREAKING: Manchester City Become The First Team To Win Premier League Title 4 Times In A Row
- Before you go into marriage with any man, please taste the male organ to know if it’s standing up – Nigerian lawyer advises women
- Don’t be afraid to approach her even if she has a boyfriend – Nigerian pastor advises men as he narrates how he “snatched” his wife from her boyfriend
- CBN withdraws Cybersecurity Levy circular after FG suspension
- Super Eagles captain Troost-Ekong Wins Greek League with PAOK
- Iran’s Cabinet Holds Emergency Session After President Raisi’s Death
- Iran’s President Death: I Won’t Rule Anything Out – Fani-Kayode
- Peter Obi’s Only Chance To Presidency Is 2039 – Bwala
- Suspect in possession of over $81,000 fake currency arrested by EFCC personnel
- UK Authorities Report Air Peace Over Alleged Violations Of Airport Safety Rules
Categories: News
