PPMC recorded N687.1bn revenue deficit in 2012

The N3.04tn operational expenditure of the Pipelines and Products Marketing Company in 2012 was N687.1bn in excess of its total revenue for the year.

The company, which is a subsidiary of the Nigerian National Petroleum Corporation, entered a total full year revenue performance of N2.35tn, despite projecting the sum of N3.04tn at the beginning of the year.

These details were contained in the budget document of the NNPC deposited with the National Assembly Joint Committee on Petroleum (Downstream). Read more

About Author: Integrity Org

Integrity Organization is committed is an anti-corruption, research and advocacy organization. Its activities are centered on the aim to reduce the tolerance for corruption in Nigeria.

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