NewStats: 3,264,137 , 8,182,744 topics. Date: Monday, 09 June 2025 at 08:10 PM 4v95s

The Federal Government owes the Nigerian National Petroleum Company Limited almost half of what it plans to collect in revenues this year for the petrol subsidy it reintroduced in August last year, Bloomberg reported on Monday.

The report stated that NNPC is owed N7.8tn ($4.9bn) by the government in subsidy debts for the seven months to July, citing NNPC’s Chief Financial Officer Umar Ajiya. The government aims to collect N19.4tn in revenue this year.

The subsidy that was withdrawn in May last year by Nigeria’s President Bola Tinubu to help repair the state’s finances after debt-service costs jumped to 96 per cent of revenues was reinstated to allow measures to be introduced that could cushion Nigerians from spiraling inflation that’s at 33 per cent.

The government will allow NNPC to offset about N2.2tn it owes the state against the subsidy debt, Ajiya said in an interview after the company announced its results in Abuja, the capital, according to Bloomberg.



The government accumulated the debt to the NNPC because it is the sole importer of petrol, which it resells to marketers at below-market cost to keep prices low.

A litre of petrol sells for about N617 at the pump at NNPC retail stations in Abuja, compared with more than the N1,000 price in other locations, fueling cross-border smuggling of the product.

The state oil company recorded an annual profit of N3.3tn in 2023, compared with N2.55tn a year earlier. It plans to invest $6.6bn in its operations this year, which will be largely borrowed, Ajiya said.


It foresees crude and condensates production increasing to two million barrels a day by year-end from an average of 1.75 million barrels per day in August, helped by improved security to combat oil theft.

https://punchng.com/nigeria-owes-nnpc-4-9bn-fuel-debt-report/

C h a i..










The monies that have been stolen!





Nigeria in this case means the entire populace.

Nigeria is not owing NNPC,

Rather, it is NNPC that is owing us!

It should be "Nigeria own subsidy cabals 7.8tn"

Tinubu is one of many subsidy cabals thieves

E build lagos, e reach time to build Nigeria cement finish

Anyone who understands Nigeria is abnormal

Put measures in places first, then remove fuel subsidy. Not the other way round

.

Nigeria dey owe NNPC


It's too early to laugh abeg

Organized scam.

Before May 29 2023, fuel price was 185 naira to a liter. We had subsidy, dollar was about 700 naira.

May 29, 2023: President said “Subsidy is gone” in his inaugural speech. Fuel price rose to over 300 per liter.

A few weeks later “We have floated the naira” or “unified the exchange rate”. Dollar traded for about 1000 naira.

June 12: Mr. President said in his democracy day speech, there was no going back on fuel subsidy removal.

July: Dollar rate kept skyrocketing, prompting NNPC to readjust petrol price to “meet current realities”. Petrol sold for at least 568 Naira a liter.

August 2023: Subsidy was reintroduced through the back door even though the federal government kept denying it.

August 2024: The federal government has spent more than any government since 2005 in subsidy payment in 17 months.

President, Senate president, Vice president asked the people to bear with them that the reforms will take time, yet the president bought a new Cadillac, a new Presidential plane, there’s also rumors of a presidential yacht which could have been bought.
VP got a 21b naira residence, SP and his fellow senators got cars valued at over 160M naira each.

Minimum wage given to the people is 70,000 Naira.

Who is deceiving who?

Billions to import products to be sold at a loss.

Noted.

Sick people. Tinubu and Buhari are the cabals behind NNPC, the scam organization.

The more you try to understand this country, the more it gets complicated.

Nigeria borrow money from NNPC, borrow from China

Lies don't last forever.

Realtord43:
It should be "Nigeria own subsidy cabals 7.8tn"

Tinubu is one of many subsidy cabals thieves

Reason he gathered some uninformed Nigeria at Ojota to shout subsidy is fraud. First day, he announced SUBSIDY IS GONE! Yet Nigeria have paid more for subsidy directly or indirectly since he came onboard. Anyway, what do you expect from someone nobody can authenticate his credentials.

How LIES comes back to stare at you when all you've done with its name seem to have failed....

My friend...you realize you now have made us both look stupid and unproffesional!!

Problem too much for this country

The more things change in the country , the more it stays the same

Is this another avenue to embezzle us?

What a funny title

Na when I folo una go borrow this money from NNPC?

Make Una get sense ooo

Na helinues and his fellow fools na Dem dey owe NNPC abeg I no follow

Nigerians owe NNPC abii Na bulabaa owe NNPC .

Buhari =Fuel ₦168/L >>> subsidy @ ₦700m monthly


Tinubu = fuel ₦980/L >>> subsidy @ ₦980b monthly

Wahala

So the subsidy didn't go

What subsidy did tilumbu remove then

Why did they increase the pump price of fuel

The people in power sucking the jugular of Nigeria can never be satisfied

Tinubu should tell Nigerians the truth. The landing cost of petrol is currently about #1200 per litre.
The govt is subsidising so it can be sold at 650 at the fuel stations.
Nigerians are too poor. We cannot afford the real price without subsidy.

Laughable, who is nnpc and who is Nigeria? It means naija is owing naija

I thought Tinubu had great plans for Nigeria? I thought he had enough money and doesn't need to steal our common wealth? I thought he built Lagos? I thought he had people, boys he has raised? Is their goal to destroy Nigeria? So Subsidy gone is a scam!

Ok

Hellinus will not see this one to talk, nigeria is broken

WHO OWNS NNPC?

ZIMBABWE?

NIGERIA IS SICK MENTALY.

I owe my company money.
Both money and my company who own e be?

Let every citizen get four litter gallon of fuel one day and kukuma burn down the useless thing and run go Ghana.

Nonsense and Ingredients. Salt is not enough.

post=131596662:
What a funny title

Go and munch ur agbado