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SNH generates over 120 billion FCFA for the State

The revenue generated by the State-owned National Hydrocarbons Company represents the largest share of this income, ie CFAF 121.68 billion during the first four months of the current year. 

The Board of Directors of the National Hydrocarbons Company (SNH) met by videoconference between June 1 and 4, 2021, under the leadership of its president, Ferdinand Ngoh Ngoh, also Secretary General of the Presidency of the Republic. The administrators reveal that the structure has paid the State more than 142 billion FCFA as of April 30, 2021.

In detail, “the sales made by SNH have generated, after deduction of charges, CFAF 121.68 billion in revenue for the State. In addition, SNH paid the State 10 billion FCFA in dividends, 8.44 billion FCFA in corporation tax, as well as various other taxes and duties amounted to 2.16 billion FCFA ”, informs the Minister. press release signed by Ferdinand Ngoh Ngoh.

In comparison to data for 2019 at the same period, the revenue generated by SNH to the State is down by 15.28 billion FCFA. The funds transferred by SNH to the State as of April 30, 2019 amounted to CFAF 157.56 billion.

During the first four months of the current year, it also emerges that the national production of hydrocarbons amounted to 13.25 million barrels of oil equivalent as of April 30. The state’s share has contributed, at the local level, to meeting the needs for domestic gas as well as natural gas for the generation of energy. Exports were of crude oil and liquefied natural gas.