#Country Updates #Gas, LNG & Power #News #Nigeria

Nigeria’s gas export earnings decline by 2% in August

Nigeria’s gas export earnings decreased by 2 percent to US$0.30 billion in August this year, according to figures obtained from the Central Bank of Nigeria, CBN.

The amount is relative to $0.31 billion realised in the previous month of July. The CBN, in its Economic Report for August 2020, stated that Nigeria earned N401.98 billion from the petroleum industry in August as against N262.38 billion recorded in July.

According to the report, oil revenue accounted for 52.37 per cent of total federation revenue in August 2020, compared to 35.12 per cent of total revenue in July 2020 and 52.94 per cent in August 2019.

In general, the CBN stated that total federally-collected revenue in August 2020 rose by 2.7 per cent to N767.55 billion, compared with its level in July 2020, but was below the budget benchmark by 9.4 per cent.

Click on the link below for full report

Source: SweetCrudeReports

Leave a comment

Your email address will not be published. Required fields are marked *