According to a report, the Nigerian National Petroleum Company Limited (NNPCL ) was awarded N318.05 billion for frontier oil exploration between January and August 2025. Documents from the September 2025 Federation Account Allocation Committee meeting was able to collect support this claim. 30% of the income from Production Sharing Contracts, which are automatically set aside each month for inland basin exploration, are represented by the deductions. The Frontier Exploration Fund was established by the Petroleum Industry Act of 2021, and it requires that 30% of the earnings from NNPC’s Production…
NNPCL Rakes In N318bn to Kickstart New Oil Exploration
