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NNPC made a total of $15.46BN from the sale of 361.77 million barrels of crude oil in 6 months.

N883.71BN was remitted to FAAC from Naira payments.

N41.97bn was spent on pipeline repairs while a deficit of N29.7BN was recorded.

@NNPCgroup performance in H1 2020?

Thread!
NNPC sold 361.77 million barrels of crude oil in H1 2020. The highest sales came from IOCs and Independent Sources with 63.08% of total sales.

#FixOurOil
A total of $15.46 billion was made from the sale of crude oil in H1 2020. The highest sales came from IOCs and Independent Sources, NNPC domestic and NNPC export at $10.07BN, $2.41BN, and $1.29BN respectively.

#FixOurOil
The Nigeria Petroleum Development Company (NPDC), a subsidiary of @NNPCgroup contributed 31.49 million barrels of crude oil to the total crude oil sold in H1 2020.

#FixOurOil
80.57 million barrels of crude oil lifted for domestic use by NNPC in H1 2020 were utilized for Direct Sales Direct Purchase as all the refineries were out of operation.

#FixOurOil
The total volume of gas produced in the same period amounted to 41,951.54 mmscfd, 8.41% of this was flared.

#FixOurOil
All four refineries did not process any crude oil in H1 2020.

In the same period, the operating deficit recorded by the refineries was N58.73bn.

#FixOurOil
A total of 8.79 billion litres of petroleum products was supplied by NNPC through Direct Sales Direct Purchase (DSDP) in H1 2020 while 7.87 billion litres of white products were sold.

#FixOurOil
The total revenue generated by Pipeline and Products Marketing Company (PPMC) in H1 2020 amounted to N890.19 billion.

Petrol generated the highest sale at 98.88%.

The subsidiaries of NNPC made a total surplus of N29.72 billion in H1 2020.

#FixOurOil
56.64%% of the total crude oil sales receipt from the dollar payment was remitted into the JV Cost Recovery Account while 43.36%% was remitted to FAAC in H1 2020.

#FixOurOil
N883.71bn was remitted to FAAC from the naira payments from the crude oil sales while N41.97bn was spent on pipeline repairs and management.

A total of 246 pipeline breaks were reported in H1 2020

#FixOurOil
NNPC had a financial deficit of N29.72BN in 6 months.

The fluctuations in the operations of @NNPCgroup's subsidiaries is worrisome.

Also, how does @NNPCgroup plan to curb gas flaring in Nigeria?

What are the measures being put in place?

#FixOurOil #AskQuestions
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BudgIT Nigeria
@BudgITng
Hello Nigerians,

@NigeriaGov plans to spend N9.25BN on NASS renovation

N2.9BN on State Villa and N346M on cars for EFCC.

Meanwhile,

N8.7M goes to 104 colleges, N10M to infant feeding and N51M to maternal health.

Is the budget designed for the masses or the elite?

Thread!
In the #RevisedBudget, N1.5bn was allocated for ambassadors' entitlement while

N176M will be spent on the purchase of JEEPS for the secretary's office.

ICT devt had an allocation of JUST N4.5M and only N8.74M will be spent on book acquisition for 104 colleges.

#MASSESvsELITE
Why was N500M allocated for African First Ladies Peace Mission and a meagre sum of N270M was voted for the provision of food items for IDPs in 9 constituencies.

Also, N346M was allocated for the purchase of additional operational vehicles for @officialEFCC

#MASSESvsELITE
Read 5 tweets
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BudgIT Nigeria
@BudgITng
@NigeriaGov loses about $8.3bn to illegal movements of funds between countries annually - an amount that could potentially create over 200,000 new jobs.

Did you know?

Most of these looting are done via anonymous shell companies & #BeneficialOwnership loopholes.

THREAD!
A beneficial owner is an individual or group of individuals who ultimately benefits from a company directly or indirectly; but whose identities are often hidden from the public & govt authorities through a complex web of ownership arrangements.

#FixOurOil

Explainer👇
The likes of Gen. Sani Abacha, Diezani Madueke and other former public officials have looted funds through the complex network of companies in which they had hidden beneficial ownership.
Read 5 tweets
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BudgIT Nigeria
@BudgITng
@NigeriaGov has received a total of $24.94bn from @Shell in 5 years.

The highest payment of $6.4bn was received in 2018

Are you aware? The EU regulations require oil companies to publish royalty payments made to governments of oil-producing countries

Thread!
In 2019, the Nigerian government received a total of $5.63bn from @Shell. This represents a 12.03% decrease compared to the amount received in 2018.
The highest payment from Shell was from Production Entitlement which amounted to 70.76% of the total payment

#FixOurOil
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