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In a series of tweets from its official handle, the Nigerian National Petroleum Corporation (NNPC) has denied being in possession of a $3.5 billion subsidy fund. This is contrary to media reports, even as the National Assembly launches a fresh investigation into the subsidy funding.

The corporation may have unwittingly given an estimate of how much the government through the CBN may have budgeted for the subsidy of petroleum products ( what the NNPC prefers to call an under-recovery).





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Onome Ohwovoriole has a degree in Economics and Statistics from the University of Benin and prior to joining Nairametrics in December 2016 as Lead Analyst had stints in Publishing, Automobile Services, Entertainment and Leadership Training. He covers companies in the Nigerian corporate space, especially those listed on the Nigerian Stock Exchange (NSE). He also has a keen interest in new frontiers like Cryptocurrencies and Fintech. In his spare time, he loves to read books on finance, fiction as well as keep up with happenings in the world of international diplomacy. You can contact him via onome.ohwovoriole@nairametrics.com


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