The Corporation says it is utilising the fund to augment under-recoveries in the importation of Premium Motor Spirit popularly known as petrol.
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The former governor described the planned increment as a way of taking back of whatever that is added to workers salary as minimum wage increment.
The Corporation, in its Monthly Financial and Operations report for July, said the production averaged a daily output of 7,678.17 million Standard Cubic Feet.
The Corporation gave the assurance in a statement by its spokesman, Ndu Ughamadu, in Abuja on Sunday.
The Group Managing Director of the Nigeria National Petroleum Corporation, Maikanti Baru, on Thursday said the corporation has used $1.05 billion from the dividends of Liquified Natural Gas to augment daily shortages incurred in the pump price of Premium Motor Spirit, popularly known as petrol.
The Nigerian National Petroleum Corporation has signed a six-month Direct Sale-Direct Purchase agreement with the British BP for the supply of Premium Motor Spirit also known as petrol.
NEITI made the clarification in a statement signed by its Director of Communications and Advocacy, Dr Orji Ogbonnaya Orji, in Abuja, on Tuesday.
The Nigerian National Petroleum Corporation says it has made N7.15 billion as trading surplus in the month of June, lower than N18.12 billion made in May.
The Nigerian National Petroleum Corporation says it has no plan to review pump prices of petroleum products, especially Premium Motor Spirit popularly known as petrol.
NEITI made this known in its audit report released at the National Conference on Remedial Issues in Abuja on Monday.
Ndu Ughamadu, Group General Manager, Group Public Affairs Division, disclosed this in an interview with the News Agency of Nigeria on Friday in Abuja.
The Management of Nigerian National Petroleum Corporation has distanced its Group Managing Director, Dr Maikanti Baru, from alleged cash transfer to President Muhammadu Buhari’s Campaign Organisation to support publicity.
Dr Maikanti Baru, the Group Managing Director of NNPC, made the commendation when he visited NPDC, its upstream subsidiary on Wednesday, a statement released by the Corporation, on Thursday in Abuja said.
The Spokesperson for the President Muhammadu Buhari Campaign Organisation, Festus Keyamo (SAN), has denied collecting money from the NNPC to run the publicity department of the organisation.
Jackson disclosed this in an interview with the News Agency of Nigeria in Umuahia.
Speaking on Wednesday at the Strategic Dialogue on the Morocco-Nigeria Relations in Abuja, the DG said Nigeria would have been celebrating high oil prices but is not because of the subsidy.
The Nigerian National Petroleum Corporation has warned petroleum products consumers across the country against mishandling of products as dry season sets in.
The president’s condolence message was contained in a statement by his Senior Special Assistant on Media and Publicity, Malam Garba Shehu, in Abuja on Saturday.
The Senate on Tuesday began investigation into the alleged mismanagement of over $3.8 billion fuel subsidy fund by the Nigeria National Petroleum Corporation.
The Nigerian National Petroleum Corporation has denied claims that it has in its custody $3.5 billion subsidy fund.