Nigeria, April 30 -- The Nigerian National Petroleum Corporation (NNPC) has said that the zero revenue projection contained in its letter to the Accountant General of the Federation pertains only to the revenue stream it manages for the country.

The NNPC said this in a statement by its Group General Manager, Group Public Affairs Division, Kennie Obateru, on Friday via its verified Twitter handle.

The statement came after a letter the NNPC sent to the Accountant General, where it said fuel subsidy had wiped off oil revenue, was widely reported.

In the letter, the NNPC said it would deduct N112 billion from oil and gas proceeds for April to ensure continuous supply of petroleum products to the country and guarantee energy security.

That...