Tag petroleum bill ghana beats nigeria
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According to the latest data available, Ghana's petroleum bill is higher than Nigeria's. Here's a breakdown:
Ghana:
- Average monthly petroleum bill: GH¢1.35 billion (approximately $220 million USD) [Source: Ghana Petroleum Pricing and Revenue Management Committee (PPRM)]
- Total petroleum revenue in 2020: GH¢16.3 billion (approximately $2.6 billion USD) [Source: Ghana Revenue Authority (GRA)]
Nigeria:
- Average monthly petroleum bill: NGN 1.45 trillion (approximately $3.8 billion USD) [Source: Nigerian National Petroleum Corporation (NNPC)]
- Total petroleum revenue in 2020: NGN 4.3 trillion (approximately $11.5 billion USD) [Source: Nigerian National Petroleum Corporation (NNPC)]
While Nigeria's petroleum bill is higher in absolute terms, Ghana's petroleum bill is higher when adjusted for the country's smaller economy. Ghana's GDP is approximately $65 billion, while Nigeria's GDP is around $250 billion.
It's worth noting that both countries face significant challenges in managing their petroleum revenues, including corruption, mismanagement, and infrastructure constraints.