JUST IN: FAAC receives 100% profit oil as Tinubu’s executive order takes effect

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By Alagbe Shenayon
162

The federation account allocation committee (FAAC) received a 100 percent of profit oil from production sharing contracts (PSCs) from the Nigerian National Petroleum Company (NNPC) Limited in February.

This is according to the February oil and gas revenue distribution figures from FAAC seen by TheCable on Saturday.

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The development indicates that the implementation of Executive Order 9 (EO9), recently signed by President Bola Tinubu, has begun.

More to follow…

Alagbe Shenayon 17401 posts 0 comments

Alagbe Shenayon is an emerging multimedia journalist with a Bachelor’s Honours in Communication Studies and over two years of newsroom experience. He is known for accuracy, integrity, and an unrelenting drive to uncover the truth through clear, engaging, and reliable reporting.

His core interests include sports and political journalism and he is expanding into cryptocurrency and digital trends, positioning himself as a versatile modern journalist with a keen eye on emerging global conversations.

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