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States to take a hit as NNPC projects zero FAAC contribution in May

The Nigerian National Petroleum Corporation (NNPC) will be unable to make any contribution to Federal Accounts Allocation Committee (FAAC) in May due to fuel subsidy payment, a development that would hamper various government’s ability to meet their obligations. NNPC’s FAAC contributions have been declining on the back of rising crude oil revenues which translates to…

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