Nigeria raked in about $868.5m (N361.43bn at the official exchange rate of N416.15/$) from gas export and N13.36bn from domestic gas sale in 2021, an analysis of the latest gas revenue data and other monthly reports obtained from the Nigerian National Petroleum Company Limited showed.
Data from the oil firm showed that the Federal Government through NNPC garnered the funds from the sale of Natural Gas Liquids/Liquefied Petroleum Gas, as well as Nigeria Liquefied Natural Gas feedstock.
It was learnt that the joint venture partners of NNPC in the gas business during the review period include Chevron Nigeria Limited, Mobil Producing Nigeria, Shell Petroleum Development Company and Total Exploration and Production Nigeria.
Findings showed that in January 2021, the country earned $50.19m from the export of NLNG feedstock and made N1.05bn on domestic NGL/LPG, while in February it made $26.6m and $90.38m from NGL/LPG and NLNG feedstock exports respectively.
The country earned N1.24bn from domestic NGL/LPG in February last year.
For the month of March, the NNPC stated that gas sale earnings from NGL/LPG and NLNG feedstock were $15.89m and $68.29m respectively, as the country raked in $34.32m and N1.25bn from NLNG feedstock and domestic NGL/LPG respectively in April.
Data from NNPC showed that $36.01m was earned from NLNG feedstock in May 2021, while NGL/LPG domestic was put at N1.25bn.