NNPC

Nigeria Economic Update (Issue 29)

In line with the provisions of the Petroleum Industry Act (PIA), the Nigerian National Petroleum Corporation (NNPC) on July 16 was transformed into a new entity and regulated under the provision of the Companies and Allied Matters Act (CAMA).2 As a result, NNPC was transited to Nigerian National Petroleum Company Limited (NNPC Limited) as a […]

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Nigeria Economic Update (Issue 1)

The Nigerian National Petroleum Company (NNPC) Limited remitted N511.7 billion to the federation account between January and October 2021, against the projected sum of N2.09 trillion, resulting in a shortfall of N1.58 trillion.3 This is according to data obtained from the NNPC. The shortfall can be attributed to two main factors: low revenue generation by […]

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Nigeria Economic Update (Issue 50)

The Nigerian National Petroleum Company (NNPC) Limited remitted N511.7 billion to the federation account between January and October 2021, against the projected sum of N2.09 trillion, resulting in a shortfall of N1.58 trillion.3 This is according to data obtained from the NNPC. The shortfall can be attributed to two main factors: low revenue generation by […]

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Nigeria Economic Update (Issue 1)

Discussions are underway between the Nigerian National Petroleum Corporation (NNPC) and a range of foreign and Nigerian trading houses with the NNPC aiming to raise $1 billion oil prepayment towards the revamping of the Port Harcourt refinery.¹ The funds acquired are expected to be repaid through the delivery of refined products over a span of […]

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Nigeria Economic Update (Issue 32)

The importation of petroleum products into Nigeria continues to expand. In 2019Q2, imports totaled 5.61 billion litres of Premium Motor Spirit (PMS) or petrol, 1.38 billion litres of Automotive Gas Oil (AGO) or diesel, and 12.22 million litres of Household kerosene (HHK)1. Although, there were moderations in the importation of kerosene, petrol and diesel imports […]

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State-owned enterprises

The Nigeria Natural Resource Charter (NNRC) Benchmarking Exercise Report (BER) 2017[1] assessed the operational activities in the nation’s oil and gas sector between 2015 and 2017 against the Natural Resource Charter[2]. The exercise sought to unveil the true state of oil resource extraction, governance, and transparency among others based on a set of underlying economic […]

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Nigeria Economic Update (Issue 2)

The amount of financial subsidy that Nigeria absorbs to maintain pump price at the official N145/litre has remained high. According to reports, the NNPC now pays N48.68 subsidy for a litre of petrol1, as against the N26 recorded as payments in May 20182. In total, at the daily average consumption rate of 50 million litres […]

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