Wednesday, January 27, 2021

NNPC projects N11tn revenue for 2021, $14bn industry spending

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The Nigerian National Petroleum Corporation plans to generate N11.39 tn revenue in 2021 while projecting an increase in oil and gas output and sales between 2021 and 2023 .

According to a written presentation to the National Assembly by the NNPC, the estimated revenue for 2021- 2023 was underpinned by a total base production of 1.864 million barrels of oil per day in 2021, 2.091 in 2022 and 2.382 in 2023.

The corporation also said gas sales was expected to increase by 19 per cent from 6,531 million standard cubic feet per day in 2021 to 7,751 in 2023 .