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NNPC records $378.42million crude oil proceeds in June, posts $4.60billion export sale in one year
Modupe ASUDO
ABUJA-THE Nigerian National Petroleum Corporation (NNPC) has announced a total crude oil and gas export receipt of $378.42million in June 2020 as against $133.16million it posted in May 2020, signally a marked improvement in revenue earnings apparently following the ease of the COVID-19 pandemic global lockdown and the subsequent increased demand and firmer prices for the black gold in the international market.
The NNPC in a release by its Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, stated that petroleum receipts for the month reflected crude oil earnings of $230.65million, with gas and miscellaneous proceeds standing at $75.97million and $71.80million, respectively. The release explained that details of the earnings were contained in the June 2020 Monthly Financial and Operations Report (MFOR) of NNPC, which it noted, is the 59th edition in the series.The report, which was released in Abuja today, put total crude oil & gas export receipts for the period: June 2019 to June 2020 at $4.60billion. In the Downstream Sector, the NNPC monthly report said in order to ensure continuous supply and effective distribution of petroleum products across the country in June, 2020, 1.34billion litres of white products were distributed and sold by NNPC’s Downstream subsidiary, the Petroleum Products Marketing Company (PPMC), saying the figure was significantly higher than the 950.67million litres of white products sold and distributed in May 2020, again an apparent reflection of the gradual ease of the lockdown in the Country and the picking up of business activities. A breakdown of the June 2020 figures indicated that over 1.3billion litres of Premium Motor Spirit (PMS), 5.10million litres of Automotive Gas Oil (AGO) and 1.65million litres of Dual Purpose Kerosene (DPK) were sold and distributed during the period. White products sale for the period June 2019 to June 2020, the report disclosed, stood at over 19.104billion litres, with PMS accounting for over 18.9billion litres or 99.36 per cent In monetary value terms, the above volumes translated to a total sale of ₦134.22billion of white products by PPMC in June 2020, compared to ₦92.58billion sales in May, 2020. Total revenues recorded from the sales of white products for the period June 2019 to June 2020 stood at over ₦2.267trillion, where PMS contributed about 99.12 per cent of the total sales with a value of over ₦2.247trillion. During the month under review, 33 pipeline points were vandalized representing about 11 per cent decrease from the 37 points recorded in May 2020. Mosimi-Ibadan accounted for 33 per cent, while Atlas Cove-Mosimi and Warri-River Niger recorded 27 per cent of the breaks each; other locations made up for the remaining 13 per cent. The NNPC monthly Financial and Operations Report for June, 2020 explained that in collaboration with the local communities and other stakeholders, the corporation would continuously strive to rein in on the incidences of pipeline breaches across the Country. In the Gas sector, out of the 232.03billion Cubic Feet of gas (BCF) supplied in June 2020, 148.66BCF of gas was commercialized; consisting of 34.64BCF and 114.01BCF for the domestic and export market, respectively. This, the report explains, translates to a total supply of 1,154.78million Standard Cubic Feet of gas per day (mmscfd) to the domestic market and 3,800.45mmscfd of gas supplied to the export market for the month, implying 64.07 per cent of the average daily gas produced was commercialized, while the balance of 35.93 per cent was re-injected, used as Upstream fuel gas or flared. The NNPC report stated that gas flare rate for June 2020 stood at 6.11 per cent, that is: 472.94mmscfd, compared with average Gas flare rate of 7.84 per cent, equivalent of 611.73mmscfd for the period June 2019 to June 2020.
The Transmission Company of Nigeria (TCN) has announced the successful relocation of eight 132kV and 33kV transmission towers along the Kukwaba/Apo 132kV transmission line, bringing relief to residents of the Federal Capital Territory (FCT).
This development, completed three days past the scheduled deadline, has also restored full bulk power to the 132/33kV Apo Transmission Substation, enabling the resumption of normal power distribution in the area.
In a statement signed by Ndidi Mbah, TCN’s General Manager of Public Affairs, the company explained that the relocation became necessary due to the Federal Capital Development Authority’s (FCDA) road dualization project along the Southern Expressway.
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The relocation work began on January 6, 2025, and involved dismantling and reconstructing the affected towers, as well as restringing power cables to ensure uninterrupted power flow.
To facilitate this, a planned power outage was implemented from January 6 to January 20, 2025, between 9 a.m. and 4 p.m. daily.
“The Transmission Company of Nigeria is pleased to announce the restoration of full bulk power to its 132/33kV Apo Transmission Substation, effective Thursday, January 23, 2025,” the statement read.
“This restoration follows the successful relocation of eight 132kV and 33kV towers along the Kukwaba/Apo 132kV line (Southern Expressway route), necessitated by the Federal Capital Development Agency’s road dualization project along the Apo axis.”
TCN thanked residents and electricity consumers for their patience during the period of power rationing, noting that Abuja Electricity Distribution Company (AEDC) can now resume normal electricity supply to customers in the affected areas.
Renowned Nollywood actor, Ibrahim Chatta, has sparked conversation by claiming that award-winning singer Davido is richer and more influential than his billionaire father, Dr. Adedeji Adeleke.
Chatta made this statement while addressing the importance of respecting individuals in positions of authority, regardless of their age. He argued that accomplishments, not age, determine who an elder is. Using historical references, Chatta cited Alexander the Great, who achieved incredible feats before his death at 33, as an example of youthful greatness.
“God purposely placed some certain people in some positions, but you guys are looking at their age. It’s not about the age; any younger person that possesses things that belong to elders, is an elder,” Chatta said.
The actor emphasized that Davido’s wealth and influence surpass those of his father, despite Dr. Adeleke’s established status as a billionaire. Chatta highlighted the global recognition and adoration Davido commands, describing the singer as someone who garners immense loyalty and admiration.
“I was just looking at the numbers of people surrounding Davido the day I sat with him, I was just seeing how people were ready to be killed just to get to him. He is an elder. Davido’s father is a billionaire that has been doing big things before the singer’s arrival. His father is rich but not as Davido. If his dad is passing by, you might not recognise him, but if Davido passes here, a stampede will happen.”
Chatta’s remarks have stirred reactions across social media, with many debating whether fame and influence should outweigh wealth in defining success.
Veteran Nollywood actress, Rita Edochie, has expressed her admiration for Donald Trump, claiming that the entire world wishes for a leader like him.
The actress made this statement while celebrating Trump’s inauguration as the 47th President of the United States on January 20, 2025.
In a lengthy Instagram post, Edochie shared her unwavering support for Trump, despite facing criticism for her stance. She revealed that she is often referred to as “Mama Trump” by detractors but remains unfazed by their remarks.
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“January 20, 2025, marks a historic milestone as Trump takes oath of office as the 47th President of the United States. As you begin your new term, I wish you immense wisdom to tackle the challenges facing our nation,” Edochie wrote.
Describing Trump as an angel, she added, “After all, the entire universe wishes they had an Angel like Donald Trump to be their president.”
The actress also expressed her desire to see a leader in Nigeria who embodies Trump’s qualities, stating, “I do wish a man in the likeness of Trump be sworn into the Nigerian Executive Offices one day.”
Edochie’s comments have sparked discussions online, with many applauding her loyalty while others remain critical of her views.
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