The Federal Government received N347.5 billion in dividends from its portfolio companies in 2023, marking a 567 percent growth from the N52.1 billion received from these companies in 2022.
The disclosure is according to the 2023 Annual Asset Report of the Ministry of Finance Incorporated (MOFI).
NNPC Limited contributed the bulk of the dividends, with about N243.5 billion in dividends paid to the Federal Government in 2023. According to the report, NNPCL paid out about N487 billion to the Federation during the year.