JV oil assets, projects gulped N219.4bn in two months – NNPC - Punch Newspapers

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The Nigerian National Petroleum Corporation spent a total of N219.4bn on oil and gas assets being developed through joint ventures with private firms as well as government priority projects in the first two months of this year.

The NNPC transferred $80.32m and $84.36m to the JV cash call account as first line charge in January and February respectively. The NNPC, which represents the Federal Government in the JVs, has an obligation to make cash call payment for the development of the assets.

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