News

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

Published

4 years ago

June 18, 2021

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.

News

HYPREP Tightens Security At Project Sites

Published

3 hours ago

November 30, 2025

The Tide

Following the rupture of the ground tank of its water facility in Ebubu Community in Eleme Local Government Area of Rivers State, the Hydrocarbon Pollution Remediation Project (HYPREP) has tightened security across all its project sites in Ogoniland.

HYPREP, which dropped this hint in a statement signed by its Head of Communications, Dr Enuolare Mba-Nwigoh, said the Project Coordinator, Prof Nenibarini Zabbey had given the directive for security to be tightened across all its project sites in Ogoniland.

Mba-Nwigoh noted that the tightening of security across the project sites has become necessary to forestall interference with the facilities.

He further disclosed that following the rupture of the ground tank of the Ebubu water facility, a team led by HYPREP’s Director of Technical Services, Prof Damian-Paul Aguiyi has visited the scene of the incident to assess the situation, stressing that the water facility has been cordoned off for public safety.

The statement indicated that following the incident, HYPREP has henceforth barred non-project personnel and non-facility staff from gaining access into any of its active project sites in Ogoniland without authorisation.

While appealing to residents of Ebubu Community and the public to remain calm, the Head of Communications assured them that the Project is taking prompt steps to restore water to the community, saying, the cause of the unfortunate incident is being investigated.

He equally noted that the Chief Security Officer of HYPREP has been directed to immediately tighten security across all its project sites in Ogoniland.

The statement said HYPREP is deeply concerned about the incident, stressing that despite the setback, the Project reiterates its commitment to delivering sustainable cleanup in Ogoniland.

News

198 UNIBEN Students Bag First Class

Published

7 days ago

November 24, 2025

The Tide

A total of 198 students of the University of Benin (UNIBEN ) Edo State, bagged a First Class degree out of 14,083 students to be awarded first degree at the institution’s 51st Convocation and Founder’s Day ceremony.

Vice Chancellor of UNIBEN, Prof. Edoba Omoregie, disclosed this on Monday in Benin at a pre-convocation press briefing.

He said 4,217 students bagged a Second Class Upper, 7, 928 got a Second Class Lower, while 578 bagged a Third Class degree.

He said 15 new approved programmes by the National Universities Commission (NUC) would commence in the 2025/2026 academic session.

According to him, “The wheel of progress is on course and moving steadily in the University of Benin. This administration is poised to deliver on its mandate of effective, practical teaching, sound learning, result-oriented research and impactful community service.

“We must applaud the President Bola Ahmed Tinubu, for establishing NELFUND, and by so doing significantly reducing the financial stress of students in the process of acquiring tertiary education. We enjoin students and their parents to take full advantage of the federal government’s benevolence in instituting the fund.”

Prof. Omoregie disclosed that Nigeria’s Minister of Regional Development, Engr. Abubakar Momoh, would deliver the Founders’ Day lecture with the topic, “Reforms for a Shared Prosperity”.

The UNIBEN VC said Director General of the Nigerian Institute of International Affairs and Former Vice Chancellor of Igbinedion University, Okada, Edo State, Professor Eghosa Osaghae, would deliver the Convocation Lecture on the theme, “Making Our Universities Great”.

News

Bayelsa Education Fund, British Council trains tra 1,000 teachers

Published

7 days ago

November 24, 2025

The Tide

The last batch of 400 public school teachers in Bayelsa State on Monday commenced training under the sponsorship of Bayelsa Education Development Trust Fund (EDTF) and the British Council.

This batch will bring to 1000 the number of public school teachers in the state who have benefited in the partnership arrangement.School supplies

The EDTF, British Council and Teachers Training, Registration and Certification Board collaborated in the capacity development programme.

Speaking at the opening ceremony of the five day capacity building program, Commissioner for Education Dr Gentle Emelah reiterated the commitment of the Bayelsa government to training and capacity of teachers in the state.

He noted that the improved teaching methodology in the state was responsible for the state producing the best student in the 2025 West African School Certificate Examinations.

Prof Ebimiowei, Executive Secretary at EDTF, noted that the collaboration is aimed at improving learning outcomes for pupils and students of public primary and secondary schools in Bayelsa.

“You will agree with me that until the cutlass is sharpened, it will have no impact on the hands of the farmer and so it is with our teachers., you need to be sharpened very well to give good delivery in your various classes and schools.

“Let me at this juncture appreciate the British Council for accepting to train 1,000 teachers, 50 education managers and 60 trainers for Bayelsa,” he said.

On his part, Chairman of the EDTF board, High Chief Fidelis Agbiki expressed appreciation to the Commissioner for Education Dr Gentle Emelah for his supportive role to the fund.

Agbiki urged the beneficiaries to justify the enormous resources invested by the government of Bayelsa by being dedicated within the five days the exercise would last.

He said; “This board will not operate on business as usual but on business unusual as we will push the frontiers outside the box to ensure that we get value for money,” Agbiki said.

Chairman of Development Partners Committee of the EDTF applauded the commitment of the partners for the successful completion of the programme, urging them to sustain the tempo

Speaking on the programme, Mr Fwanshishak Daniel, Head, English and Schools, British Council noted that the Bayelsa government had shown exemplary commitment to educational development.

He explained that the commitment has enabled the British Council and Bayelsa government to achieve within one year greater milestones that took other states three years to achieve.

He explained that the resources of the British Council have been made available to Bayelsa with the training of 60 resource persons from the state who will in turn train other teachers to improve education.

According to Daniel, the training will lay emphasis on new teaching methods, use of digital tools for self development and access to school amongst others.

Dr Peremoboere Ogola, Acting Chairman of TTRC, which facilitated training, thanked the EDTF for supporting training of teachers in Bayelsa with world class resources of the British Council.

She noted that another batch of newly recruited teachers are currently undergoing training at State government owned University of Africa, Toru Orua, Sagbama LGA in Bayelsa