NNPC Remits N16 Trillion to Federation, Expands CNG Stations in 2024

The Nigerian National Petroleum Corporation (NNPC) disclosed remitting close to N16 trillion to the Federation in taxes, royalties, and dividends in 2024. The NNPC emphasized sustainable procurement, spending N4.463 trillion to support its operations.

The company also entered the commercial compressed natural gas (CNG) market, operationalizing 12 CNG stations in Abuja and Lagos. NNPC's Chief Executive, Bayo Ojulari, highlighted revenue generation and corporate social responsibility initiatives, including training 430,000 NYSC members in financial literacy.

The corporation's commitment to transparency and value creation was underscored by its contributions to national development.