FAAC receives full profit oil from NNPC as Tinubu’s executive order takes effect
The Federation Account Allocation Committee (FAAC) received 100 percent of profit oil from Production Sharing Contracts (PSCs) remitted by the Nigerian National Petroleum Company (NNPC) Limited in February.
This was revealed in the February oil and gas revenue distribution figures from FAAC obtained on Saturday.
The development indicates that the implementation of Executive Order 9, recently signed by President Bola Tinubu, has begun.
More details to follow.
