NNPC Pays 219bn to FAAC in April, Boosts Gas Supply to Power Plants


By Emmanuel Addeh

The Nigerian National Petroleum Corporation (NNPC) Thursday in Abuja announced that it remitted about N219.16 billion to the Federation Account Allocation Committee (FAAC) for April 2020.

The national oil company also disclosed an increase of 19.14 per cent in the average daily natural gas supply to power plants which it said translates to 788 million standard cubic feet of gas per day (mmscfd), equivalent to power generation of 2,873MW.

In a statement by its Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, the NNPC explained that the figures were contained in the corporation’s Monthly Financial and Operations Report (MFOR) for April 2020.

“The 57th edition of the MFOR indicated that in April 2020, NNPC remitted the sum of N219.16 billion to the federation account, reflecting the naira proceeds from the sale of domestic crude oil and gas. In terms of dollar receipts, an export receipt of $193.05 million was recorded in April 2020,” the corporation said.

According to the report, which dwelt extensively on the corporation’s fresh attention to gas, a total of 226.51 billion cubic feet (BCF) of natural gas was produced in April 2020, translating to an average daily production of 7,786.17million standard cubic feet per day (mmscfd).

“The figure indicated an increase of 3.73 per cent at 226.51BCF, compared to output in March 2020. Out of this figure, a total of 136.44BCF of gas was commercialised, consisting of 36.99BCF and 99.45BCF for the domestic and export market respectively.

“Out of the 1,233.01mmscfd of gas supplied to the domestic market in April 2020, about 787.70mmscfd, representing 63.88 per cent, was supplied to gas-fired power plants, while the balance of 445.31mmscfd or 36.12 per cent was supplied to other industries.

“Similarly, for the period of April 2019 to April 2020, an average of 1,184.29mmscfd of gas was supplied to the domestic market, comprising an average of 677.87mmscfd or (57.24 per cent) as gas supply to the power plants and 506.42 mmscfd or (42.76 per cent) as gas supply to industries,” it added.

The NNPC statement noted that for the period of April 2019 to April 2020, a total of 3,082.91BCF of gas was produced, representing an average daily production of 7,857.18mmscfd during the period.

It said that period-to-date production from Joint Ventures (JVs), Production Sharing Contracts (PSCs) and NPDC contributed about 69.57 per cent, 21.46 per cent and 8.97 per cent respectively to the total national gas production.

The report also indicated that in the downstream sector, a total of 0.94 billion litres of petrol, translating to 31.37mn litres/day, was supplied for the month, adding that the corporation has continued to diligently monitor the daily stock of petrol to achieve smooth distribution of petroleum products and zero fuel queue across the nation.

In the period under review, the corporation disclosed that 65 vandalised pipeline points were reported, a marked increase from the 19 points recorded in March 2020.

It said that the Atlas Cove-Mosimi stretch accounted for 55 per cent, while Mosimi-Ore recorded 22 per cent and other locations made up for the remaining 23 per cent.

The NNPC said it remained committed to sustaining effective communication with stakeholders through publication of its monthly financial and operations reports on its website and in national dailies.

It maintained that this was in line with the concept of Transparency, Accountability and Performance Excellence (TAPE) agenda of the NNPC management.