The Nigerian National Petroleum Corporation (NNPC) has opened its accounts to public scrutiny for the first time in years — and the results make for grim reading.
The report for the eight months ending in August this year, said oil and gas revenues plunged by more than 67% compared to September 2014 “with dire consequences to the federation”.
Managing director Ibe Kachikwu kick-started the move towards transparency in NNPC’s operations by this week, publishing what will be the first of regular monthly publication of financial and operational reports.
This
