NewStats: 3,262,364 , 8,176,934 topics. Date: Monday, 02 June 2025 at 12:36 AM j4660

The Nigerian National Petroleum Corporation (NNPC) says it recorded a total crude oil and gas export sales of $219.75m (N90billion) in May 2021, representing 180.29% increase in sales from the previous month of April.

Similarly, the Petroleum Products Marketing Company (PPMC), a downstream subsidiary of the NNPC, posted a total sum of N295.72bn from the sales of petroleum products in the month of May 2021 compared with N220.13bn sales in April 2021.

This put the total amount realised from the sales at N366bn as contained in the May 2021 edition of the NNPC Monthly Financial and Operations Report (MFOR), made available by the Group General Manager, Group Public Affairs Division of the corporation, Mr. Garba Deen Muhammad.

According to the report, crude oil export sales contributed $181.19m (82.45%) of the dollar transactions compared with $4.22 million contribution in the previous month, while the export gas sales component stood at $38.56 million in May 2021.

The report also showed that between May 2020 and May 2021, the corporation exported crude oil and gas worth $1.64 billion.

In the gas sector, the report showed that natural gas production in the month under review increased by 6.19% at 222.23 billion cubic feet (bcf) compared with output in the previous month translating to an average production of 7,177.53 million standard cubic feet (mmscf) of gas per day.

For the period May 2020 to May 2021, a total of 2,898.34bcf of gas was produced, representing an average daily production of 7,322.94mmscf in the period.

Period-to-date production from t Ventures (JVs), Production Sharing Contracts (PSCs) and Nigerian Petroleum Development Company (NPDC) contributed about 60.94%, 20.04% and 18.99% respectively.

Out of the 216.29bcf of gas produced in May 2021, a total of 133.56bcf was commercialised, consisting of 44.02bcf and 89.54bcf for the domestic and export markets respectively.

This translates to a total supply of 1,419.83mmscfd of gas to the domestic market and 2,893.66mmscfd to the export market for the month.

This implies that 61.75% of the average daily gas produced was commercialized while the balance of 38.25% was either re-injected, used as upstream fuel or flared.

Furthermore, total revenues generated from the sales of petroleum products for the period of May 2020 to May 2021 stood at N2.345 trillion where Motor Spirit (PMS) contributed about 99.61% of the total sales with a value of N2.336 trillion.

In of volume, the figure translates to a total of 2.241 billion litres of white products sold and distributed by PPMC in the month of May 2021 compared with 1.673bn litres in the previous month.

Total sales of petroleum products for the period May 2020 to May 2021 stood at 18.651bn litres and PMS ed for 99.69% of total volume.

In May 2021, 64 pipeline points were vandalized representing a 39.13% increase from the 46 points recorded in April. The Port Harcourt area ed for 65% and Mosimi and Kaduna Areas ed for 30% and 5%, respectively of the vandalised points.

https://dailytrust.com/nnpc-earns-n366bn-from-crude-oil-products-sales-in-may

All these things na story
Nigeria died before I was born, so sad there's nothing we can do.....
If you talk police and dss will chase you to the moon...

Issorite...we can do better...

My oil money

I swear human beings are evil in the sense that God blessed us with natural resources and some people called Government will extract it with the help of oil companies and they would share the money and they don't even pay workers what they deserve and upon that they'll still owe them money for many months, unfair ;

And again a particular region produces these crude oil but another region will take the revenues generated na that one come worst .

That is what we keep hearing . Billions and billions of Naira and nothing to show for it.

How the earnings wan take reach my pocket??
Wahala

This is just a lie. I can feel it

Is this a developments to Nigerians or what?

And it was looted. Nansense

But for buhari to construct 1km of road in kastina or borno, he must borrow.
Who is deceiving who.

Good development, though you made this amount of money, and Nigeria Government still want to borrow.

This is crazy.

Kindly check my signature for your business ideas and updates

And bubu still dey borrow

Wia the money dey now? Una go chop am clean mouth

What's going to happen to the funds?

Nobody knows

The US gov drop $6trillion covid relief grants for it's cititzen to share monthly...just to sustain them

Ordinary 5k.. Nigerian gov decides to bone face...you hide palliatives from your own cititzens now you forcing them to take vaccine on empty stomach....


We are going to heaven to accept our judgement....
Thank God the jury over there don't send nobody

Lies for the gullible

With all these earnings, Buhari will still go and borrow money

According to the report, crude oil export sales contributed $181.19m (82.45%) of the dollar transactions compared with $4.22 million contribution in the previous month, while the export gas sales component stood at $38.56 million in May 2021.

What else do I need to know that Mr. Buhari is totally clueless about diversifying the economy? This is the same man who has been singing about diversification since 2015.

Some six years later, petrodollars still control nearly 83% of our total FX earnings. Oh, I forgot that he failed Economics in his O'level exam.

To which government pocket? Them go deh fight now. See money.All na scam.

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And oga still dey borrow

Poor sales

IdJack:
Good development, though you made this amount of money, and Nigeria Government still want to borrow.

This is crazy.

Kindly check my signature for your business ideas and updates

That's not enough to sustain the whole country is it?

These Northerners are really milking this nation. How do d poor benefit from all of these is still a mystery..

Ok.

Will that stop Mr. President from borrowing the future out of Nigeria

Are you sure NNPC declare the whole money?

It goes to some certain individual's pocket

SmartPolician:
According to the report, crude oil export sales contributed $181.19m (82.45%) of the dollar transactions compared with $4.22 million contribution in the previous month, while the export gas sales component stood at $38.56 million in May 2021.

What else do I need to know that Mr. Buhari is totally clueless about diversifying the economy? This is the same man who has been singing about diversification since 2015.

Some six years later, petrodollars still control nearly 83% of our total FX earnings. Oh, I forgot that he failed Economics in his O'level exam.

He didn't write ssce