The Nigerian National Petroleum Company Limited (NNPC), has said a total of N249.3bn for October 2021 domestic crude oil sales by six multinational oil companies operating in the upstream sector will be paid in January 2022.
The NNPC made this known in its latest report on Nigeria’s crude oil export and domestic crude oil sales in the month of October 2021. The report was obtained in Abuja, the nation’s capital.
This came as the oil firm revealed that it would also deduct N270.83bn from what would be shared by the three tiers of government during the Federal Accounts Allocation Committee meeting in January next year.
The company further noted that the October 2021 domestic crude oil payable in January 2022 by the NNPC was in line with the 90 days payment terms, adding that the six firms were its Joint Venture partners.
