The World Bank has revealed that the Nigerian National Petroleum Company Limited has only been remitting 50 per cent of revenue gains from the removal of the Premium Motor Spirit subsidy to the Federation Account. This disclosure is contained in the latest World Bank Nigeria Development Update, which highlights concerns over fiscal transparency and revenue management following the deregulation of the downstream petroleum sector. It said out of the N1.1 tn revenue from crude sales and other income in 2024, the NNPCL only remitted N600 bn, leaving a deficit of N500 bn unaccounted for. ............  READ MORE