Arewa Group Praises NNPCL's $15.33bn Remittance Under Tinubu

The Arewa Think Tank praised President Bola Ahmed Tinubu for a significant improvement in revenue remittances by the Nigerian National Petroleum Company Limited (NNPCL), reporting a remittance of $15.33 billion to the Federation Account. This figure, if validated, reflects enhanced capacity of NNPCL to contribute to national revenue, particularly following reforms such as the removal of petrol subsidies.

The group, led by convener Muhammad Alhaji Yakubu, noted that the previous administration's challenges in the petroleum sector were addressed by Tinubu's government. They highlighted that subsidy removal, improved monitoring of crude production, and enhanced transparency could reduce revenue leakages.

The group called for independent verification of the $15.33 billion remittance, acknowledging ongoing disputes regarding NNPCL's contributions to the Federation Account, including a notable dispute over outstanding remittances estimated at about N1.7 trillion in February 2025.