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NNPC obtains circa $1bn to fund upstream operations of NPDC

The Nigerian National Petroleum Corporation (NNPC) says it has obtained a prepayment funding of circa US$1bn to support the upstream operations of its subsidiary, Nigerian Petroleum Development Company (NPDC). Kennie Obatetu, spokesperson of the corporation, said late Thursday that the crude oil prepayment has enabled NNPC to pay NPDC’s tax obligations to the Federal Government…

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