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Nigeria Earned $418.5bn In 10Yrs From Petroleum, NEITI Reveals

Nigeria earned $418.544billion in oil and gas revenue from 2010 to 2019, an audit report by the Nigeria Extractive Industries Transparency Initiative (NEITI), has revealed.
The 2019 Oil and Gas Industry report, which was released, yesterday, showed that Nigeria earned a total sum of $34.22billion from the oil and gas sector in 2019, representing a rise of 4.88 percent compared to the $32.63billion revenue netted from the sector in 2018.
A breakdown of the 2019 earnings showed that payments by companies accounted for $18.90billion, while flows from Federation sales of crude oil and gas accounted for $15.32billion.
The report also showed that N518.074billion was spent by the Federal Government through the Nigerian National Petroleum Corporation (NNPC), in 2019.
A statement by NEITI’s Head, Communication and Advocacy, Obiageli Onuorah, explained that the report also showed that ten years (2010-2019) aggregate financial flows from the oil and gas sector to government amounted to $418.544billion, with the highest revenue flow of $68.442 recorded in 2011, while the lowest revenue flow of $17.055 was recorded in 2016.
The report disclosed that total crude oil production in 2019 was 735.244million barrels, representing an increase of 4.87 percent over the 701.101mmbbls recorded in 2018.
“Production sharing contracts, PSCs, contributed the highest volumes of 312.042mmbbls followed by Joint Venture (JV), and Sole Risk (SR), which recorded 310,284mmbbls and 89.824mmbbls respectively. Others are Marginal Fields (MFs), and Service Contracts (SCs), which accounted for 21,762mmbbls and 1,330mmbbls, respectively”, the report added.
The report also showed that total crude oil lifted in 2019 was 735.661mmbbls, indicating a 4.93 percent increase to the 701.090mmbbls recorded in 2018, with companies lifting 469.010mmbbls, while 266.650mmbbls was lifted by the Nigeria National Petroleum Corporation (NNPC) on behalf of the federation.
A breakdown of the crude oil lifted by NNPC showed that 159.411mmbbls was for export, while 107.239mmbbls was for domestic refining.
Also, 97 percent of the volumes for domestic refining (104.475mmbbls) was utilised for the Direct Sale Direct Purchase (DSDP) programme while the remaining 3 percent (2.764mmbbls) was delivered to the refineries.
NEITI reported that the value of the 2019 domestic crude oil earnings was N2.722trillion. Of this figure, N518.074billion was deducted for Petroleum Motor Spirit (PMS) under-recovery by the NNPC.
“This figure was N213.074billon above the approved sum of N305billion for under recovery in 2019. Similarly, the sum of N126.664billion was incurred by the corporation as costs for pipeline repairs and maintenances which showed a difference of N96.378billion from the approved sum of N30.287billion for that purpose”.
The report also pointed out that N31.844billion was also deducted for crude and product losses due to theft and sabotage in 2019.
NEITI further reported that “Total Premium Motor Spirit (PMS), imported in 2019 was 20.603billion litres. 330,362,020 litres of the PMS valued at N44.03billion ($143.694million using N306.42/USD) was lost to vandalism and leaks of the product pipelines across the country”.
On gas production, the NEITI report showed that 3,047,507.32mmscf was produced in 2019.
This represents an increase of 4.8% when compared to the 2,909,143.56mmscf reported in 2018.
In addition, $247.794million was realized from gas sales for the year under review.
The 2019 oil and gas report also explained that the total cash call for 2019 was $5.512billion ($2.898 billion and N797.324billion).
There was an outstanding Cash-call legacy liability of $1.900billion as at 31st December, 2019.
NEITI also reported that the sum of $896.891million was recorded as social expenditure in 2019 made up of non-mandatory contributions of $81.297million (9.06%) and mandatory contributions of $815.594million (90.94%).
“The mandatory contributions consisted of the 3% levy to the Niger Delta Development Commission amounting to $721.275million and 1% levy to the Nigeria Content Development Monitoring Board totaling $94.319million. The non-mandatory contributions are various payments voluntarily made by the companies to their host communities for the provision of social amenities, scholarships etc”.
NEITI further disclosed that the total number of employees in the oil and gas sector in 2019 were 18,856 with 82 percent of these numbers male while 18 percent were female.
“The top management accounted for 10 percent, middle management, 47 percent and lower-level staffs, 43 percent”, the report added.
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I’m Committed To Community Dev – Ajinwo
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RSG Tasks Rural Dwellers On RAAMP …As Sensitization Team Visits Akulga, Degema, Three Others

Rivers State Head of Service, Dr (Mrs) Inyingi Brown, has called on rural communities in the State to embrace the Rural Access and Agricultural marketing project (RAAMP) with a view to improving their living conditions.
This follows the ongoing sensitization campaign by the State Project Implementation Unit (SPIU) visits to Degema, Abonnema, Afam headquarters of Degema, Akuku Toru and Oyigbo Etche and Omuma local government areas respectively.
Dr Brown who was represented by the Deputy Director, Special Duties in her office, Mrs Dein Akpanah, said RAAMP was initiated by the Federal Government and World Bank to economically empower rural dwellers.s
She said the World Bank understands the plights of rural farmers and traders in the State, and therefore came up with the programme to address them.
According to her, RAAMP will improve the conditions of farmers, traders and fishermen, and therefore, behoves on every rural communities in the State to embrace the programme.
The Head of Service also said the programme would support the youths to be gainfully employed while bridges and roads will be built to link farms and fishing settlements.
Also speaking, the State project coordinator, Mr Joshua Kpakol, said the programme has the potential of creating millionaires among farmers and fishermen in the State.
Kpakol who was represented by Engr. Sam Tombari, said RAAMP would help farmers and fishermen to preserve their produce.
According to him, the project will build cold rooms and Silos for preservation of crops and fishes while access roads will also be created to link farmers and fishermen to the market.
He, however, warned them against any act that will lead to the suspension of the projects by the World Bank.
Kpakol particularly warned against acts such as kidnapping, marching ground, gender based violence and child labour, adding that such acts if they occur may lead to the cancellation of the project by the World Bank.
During the visit to Oyigbo local government area, Mr Joshua Kpakol, said the team was there to let them know how they will benefit from the Raamp.
The coordinator who was personally at Oyigbo said the World Bank introduced the project to check food insecurity in the State.
He said already 19 states in Nigeria are already benefitting from the project and called on them to embrace the project.
Meanwhile, stakeholders in the three local government areas have commended the World Bank for including their areas in the project.
They, however, complained over the incessant attacks by pirates on their waterways.
At Degema, King Agolia of Ke kingdom said land was a major problem in the kingdom.
King Agolia represented by High Chief Alpheus Damiebi said many indigenes of the kingdom are willing to go into farming but are handicapped by lack of land.
Also at Degema, the representative of the Omu Onyam Ekeim of Usokun Degema kingdom, Osoabo Isaac, said Degema has embraced the programme but needed more information on the implementation of the programme.
Similarly, while High Chief Precious Abadi advised that the project should not be narrowed to only crop farming, a community women leader, Mrs Orikinge Eremabo Otto, called for the construction of cold rooms in all fishing settlements in the area.
At Abonnema, Mr Diamond Kio linked the problem of the area to incessant piracy along waterways.
He also expressed fears over the possibility of the project being hijacked by politicians.
Also at Abonnema, a stakeholder, Ikiriko Kelvin, called on the World Bank to design an agricultural project that will suit the riverine environment, while at Oyigbo, HRH Eze Boniface Akawo expressed satisfaction with the project.
John Bibor
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Senate Replaces Natasha As Committee Chairman

The political mudslinging between the Senate leadership and Senator Natasha Akpoti-Uduaghan continued yesterday as the Senate named Senator Aniekan Bassey as the new Chairman of the Committee on Diaspora and Non-Governmental Organisations.
Senate President, Godswill Akpabio, announced the appointment during yesterday’s plenary, confirming Bassey’s replacement of Senator Natasha Akpoti-Uduaghan, who is currently on suspension.
Akpoti-Uduaghan was reassigned to the Diaspora and NGOs Committee in February after she was removed as Chair of the Senate Committee on Local Content during a minor reshuffle.
Bassey is the senator representing Akwa Ibom North-East Senatorial District.
Although no reason was given for her removal yesterday, the change is believed to be connected to her unresolved suspension.
In May, Justice Binta Nyako of the Federal High Court ordered her reinstatement and directed her to tender an apology to the Senate.
However, the Senate has insisted it has not received a certified true copy of the court judgment.
Akpoti-Uduaghan who represents Kogi Central, has yet to resume her legislative duties despite a recent court ruling that voided her suspension.
In a televised interview on Tuesday, Akpoti-Uduaghan said she was awaiting the Certified True Copy of the judgment before officially returning to plenary, citing legal advice and respect for institutional process.
Although the Federal High Court described her suspension as “excessive and unconstitutional”, a legal opinion dated July 5 and attributed to the Senate’s counsel, Paul Daudu (SAN), argued that the ruling lacked any binding directive to enforce her reinstatement.
Akpoti-Uduaghan, one of only three female senators in the current assembly, said the continued delay in allowing her return was not only a denial of her mandate but also a blow to democratic representation.
“By keeping me out of the chambers, the Senate is not just silencing Kogi Central, it’s denying Nigerian women and children representation. We are only three female senators now, down from eight,” she said.
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