According to the agency, the CBN data, in January, February, March, April, May and June 2022, showed the country earned N328.984 billion, N199.082 billion, N260.919 billion, N441.979 billion, N448.456 billion and N368.616 billion, respectively.
A breakdown of the components of Nigeria’s crude oil earnings in the first six months of 2022, the CBN stated that crude oil sales fetched the country N292.828 billion, dropping by 51.7 per cent from N606.276 billion recorded in the same period in 2021.
The apex bank further stated that royalties on oil and gas appreciated by 31.27 per cent from N771.713 billion in the first half of 2021 to N1.013 trillion in the same period in 2022.
Revenue from rent in the petroleum industry stood at N2.751 billion, earnings from gas flare penalty stood at N37.743 billion in the period under review, compared with N2.508 billion and N44.717 billion, respectively, recorded in the first half of 2021.
The bank further disclosed that the country earned N8.072 billion from miscellaneous, pipeline fees and other oil revenue; while petroleum profit tax and gas tax fetched the country N694.312 billion in the first half of 2022.
The report showed that N252 billion was shared among oil-producing states in the country in the first six months of 2022 under the 13 per cent derivation principle, compared with N341 billion recorded in the first half of 2022.
The noted bank noted that ‘net oil revenue before 13 per cent derivation’ stood at N1.347 billion in the first six months of 2022, while net oil revenue after 13 per cent derivation stood at N1.095 trillion in the same period.
The CBN stated that gross non-oil revenue stood at N2.941 trillion in the period under review.