NNPC Remits Profits Following Tinubu’s Full Revenue Directive

NNPC Remits Profits Following Tinubu’s Full Revenue Directive

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The Nigerian National Petroleum Company (NNPC) has remitted ₦121.3 billion in Profit Sharing Contract (PSC) profits to the Federal Government for February 2026, in compliance with President Bola Tinubu’s directive mandating the full transfer of oil revenues to the treasury.

LIST OF APPLICATIONS FOR REGULARISATION OF AREA COUNCIL LAND DOCUMENTS NULLIFIED/CANCELLED BY THE HONOURABLE MINISTER OF FCT

The move is part of the administration’s broader efforts to improve transparency and maximize revenue inflows from the country’s oil sector.

LIST OF APPLICATIONS FOR REGULARISATION OF AREA COUNCIL LAND DOCUMENTS NULLIFIED/CANCELLED BY THE HONOURABLE MINISTER OF FCT

Under the new order, all oil revenues, including PSC profits previously retained by NNPC for operational purposes, are now fully transferred to the Federation Account, ensuring that funds are available for national development priorities.

Officials from the Ministry of Finance noted that the February remittance reflects a growing commitment by the NNPC to comply with government directives and bolster federal finances amid ongoing economic reforms.

The PSC profit transfer is expected to enhance funding for key infrastructure projects, social services, and other government initiatives aimed at improving living standards across Nigeria.