Ike Amos
27 November 2018, Sweetcrude, Lagos — The Nigerian National Petroleum Corporation, NNPC, has remitted $935.81 million and N983.42 billion to the Federation Account between January and August 2018.
According to data obtained from the NNPC’s August 2018 Monthly Financial and Operations Report, the amount was from the domestic and export sales of crude oil and gas in the period under review.
Giving a breakdown of the remittances, the report noted that the NNPC remitted to the federation account $106.68 million, $127.69 million, $128.79 million, $124.77 million, $105.17 million, $112.45 million, $87.95 million and 4142.31 million, being proceeds from the export of crude oil and gas in January, February, March, April, May, June, July and August 2018 respectively.
On the other hand, from proceeds from the domestic sales of crude oil, the NNPC remitted N111.74 billion, N52.58 billion, N161.93 billion, N94.23 billion, N189.15 billion, N205.11 billion, N84.41 billion and N84.28 billion to the federation account for January, February, March, April, May, June, July and August 2018 respectively.
In addition, the report disclosed that the NNPC recorded N161.65 billion, N112.41 billion, N194.34 billion, N179.56 billion and N275.32 billion from the domestic crude oil sales in January, February, March, April and May 2018 respectively, while in June, July and August 2018, the NNPC earned N278.85 billion, N135.4 billion, and N144.98 billion respectively.
Also, the report added that NNPC earnings from domestics sales of gas and other receipts from January to August 2018 stood at N2.75 billion, N13.48 billion, N11.44 billion, N7.24 billion, N15.44 billion, N8.85 billion, N7.95 billion and N9.19 billion respectively.
On the export side, the report declared that NNPC earned N308.61 million, $535.51 million, $175.6 million, $277.24 million, $244.72 million, $274.95 million, $283.43 million and $337.62 million from the export of crude oil from January to August 2018, respectively.
The report further stated that the NNPC recorded gas sales proceeds of $130.9 million, $101.05 million, $153.81 million, $161.18 million, $61.71 million, N141.12 million, $108.48 million and N132.38 million and other export receipts of $15.22 million, $22.31 million, $30.12 million, $18.67 million, $22.72 million, $14.38 million, $2.89 million and $12.48 million from January to August 2018 respectively.
To this end, the report stated that total earnings from domestic crude sales, domestic gas sales and other receipts, crude oil export sales proceeds, gas sales proceed and other export receipts stood at N1.482 trillion, N76.34 billion, $2.438 billion, $990.62 million and $138.79 million respectively.
