Nigeria’s net revenue lowest among OPEC members

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No plans to sell NLNG – Kachikwu
No plans to sell NLNG – Kachikwu

Nigeria’s net revenue are currently the lowest among members of the Organisation of Petroleum Exporting Countries (OPEC) with capita net put at $132 per citizen.

According to the August 2018 data of the United States Energy Information Administration’s Short-Term Energy Outlook, Qatar ranked tops with a net of $8,320. The EIA’s calculation covered January to July this year with 15 member-countries under assessment.

The oil cartel’s net revenues for the period under review stood at $26 billion for Nigeria while Qatar’s was $22 billion.

Kuwait and the United Arab Emirates clinched second and third positions with $8,223 and $4,182.

However, the World Bank has projected OPEC’s population to rise by another 129 million by 2030. Nigeria’s per-capita income last year was just $179, the lowest in the group and a mere 1.5 per cent of Qatar’s, which led with almost $12,000 per person.

In absolute terms, Nigeria will account for more than half the expected increase in the projected population, according to the report.

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