BUSINESS

Nigeria Produces 639.16BCF In Q1 2021

The latest industry data from the Nigerian National Petroleum Corporation (NNPC) has shown that the country produced 639.16 Billion Cubic Feet (bcf) in Quarter 1, 2021.

This figure represents a 0.3% improvement from Quarter 4 2020 and a 9.95% decrease for the year-on-year comparison with Quarter 1 2020.

Nigeria produced 637.24 bcf in Quarter 4 2020 and 709.82bcf of gas in Quarter 1 2020.

To develop the Nigerian gas sector, the Federal Government had declared ‘A decade of Gas’ earlier this year.

This initiative aims to drive development and investment in the gas sector to maximise gas resources for economic development.

” Our major objective for the gas sector is to transform Nigeria into an industrialized nation with gas playing a major role, and we demonstrated this through enhanced accelerated gas revolution,” President Muhammadu Buhari stated.

ALSO READ  Excise Duty Re-Introduction: MAN Projects N1.9trn Loss In Revenue Sales

Related Articles

Leave a Reply

Your email address will not be published.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

Back to top button