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Nigerian Finance Minister Questions State Oil Remittances

  • NNPC’s latest contribution to federal account was rejected
  • Nigeria is top African oil producer, but NNPC isn’t profitable
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Nigerian Finance Minister Kemi Adeosun said the state oil company’s contributions to the so-called Federation Account are less than expected and have been deemed “unacceptable.”

A dispute over the remittances led to a deadlock at the latest monthly meeting of the Federation Account Allocation Committee, headed by Adeosun, she said Thursday in an emailed statement. The government is in negotiations with the Nigerian National Petroleum Corp. to resolve the issue, she said.