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Metering Crude Production in Nigeria as Sales Move from NNPC to CBN
#1 · January 29, 2024, 11:31 AM
This is a big and consequential playbook in the broad oil and gas sector in Nigeria. Going forward, NNPC produces crude oil while the Central Bank of Nigeria (CBN) handles the sales. Yet, the biggest moment will happen at the metering phase, not just at the payment level. Nigeria needs a technology which will make it possible for the Presidency, CBN, Auditor General, Senate, etc to have a real-time number on crude oil exported, across all terminals and ports in Nigeria.
We can even put a big LCD monitor in Abuja Stadium for Nigerians to see the crude oil metered number in real-time. Lol. Indeed, the metering phase is the real deal. The payment collection phase is downstream to this whole transparency and accountability.