Tag: Oil Revenue
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Nigeria Grants Massive Debt Write-Off: NNPC Debts to Federation Account Slashed
Overview: A Landmark Debt Cancellation President Bola Tinubu has approved a sweeping cancellation of a significant portion of debts owed by the Nigerian National Petroleum Company Limited (NNPC) to the Federation Account. The reconciliation process reportedly cleared about $1.42 billion and N5.57 trillion, marking one of the largest debt write-offs in recent Nigerian fiscal history.…
