15 March 2025
18:22

TOSCAD NEWS NIGERIA

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Rising price pushes Q1’22 gas revenue up 64.3% to N119.4bn

Toscad News

Propelled by rising prices, Nigeria’s revenue from gas
sales rose by 64.32 percent in the first quarter of 2022 (Q1’22) to N119.4 billion compared to N72.64 billion recorded in the corresponding period last year.

Latest data from Nigerian National Petroleum Corporation, NNPC, also showed that gas revenue in the first quarter of this year was 17.6 percent higher than N101.5 billion recorded in the fourth quarter of 2021.

The revenues came from gas export, feedstock to Nigeria LNG Limited The NNPC boss added: “There is a problem of gas flares. We are flaring gas in very many locations that we shouldn’t because we don’t know what to do with it. Today we are pooling resources and partners together to take out those flares.

Vanguardngr.com

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