A Review of the Nigerian Energy Industry

NNPC to spend $13.7bn in 2013

29 November 2012, Sweetcrude, Abuja – Nigerian National Petroleum Corporation, NNPC, Group Executive Director (Exploration and Production), Mr. Abiye Membere, has told the Nigerian Senate that the corporation’s budget for 2013 is $13.7 billion.

He also told the lawmakers that the total budget allocated to Nigerian National Petroleum Corporation, NNPC, in 2012 stood at N1.572 trillion.

Disclosing this when he appeared before the Senator Emmanuel Paulker-led Senate Committee on Petroleum, Upstream, for the defence of the 2013 budget, Membere stated that the NNPC had initiated requested for initially requested for N1.917 trillion as its budget for 2012, but this was turned down.

When Membere tried to give an overview of the budget, Senators Heineken Lokpobiri, (PDP, Bayelsa West) and Hayatou Gwarzo, (Kano North) insisted that the figures he will give must be in naira and kobo.

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