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Acronym Meaning
1 Bbl Barrels
2 CIT Company Income Tax
3 NCDMB payment Nigerian Content Development Board payment is the mandatory collection of 1% statutory deduction from any contract awarded to any operator, contractors, sub-contractors, alliance partners or any other entity in any project operation activity in any transactions in the upstream sector of the Industry.
4 NDDC Levy Niger Delta Development Commission levy is collection of 3% of annual budget of upstream companies and the tackling of ecological problems which arise from exploration of oil
5 Rentals License Fees and Concession Rentals.
6 Total revenue from Crude Oil & Gas Sales This comprises of the sale of Federation Equity & Profit oil, Domestic crude sales, Gas sales & Feedstock sales
7 Total flows to Federation This represents the total revenue flow to the federation
8 Total financial flows from the Oil & Gas sector This represents the total revenue from all sources in the Oil & Gas sector and other sub-national entities.
9 Federation Export This represents the crude that is sold internationally
10 Domestic Crude/Refining/Sales This represents Crude that is allocated for domestic use
11 Total Federation Entitlement This represents the total entitlement to the federation based on the respective contractual agreement.