KPMG’s report on GRA and SML deal, government white paper on report and matters arising

Similarly, some Civil Society Organisations (CSOs) including the African Center for Energy Policy (ACEP) and IMANI also performed some analysis using petroleum volumes lifting data from the National Petroleum Authority (NPA) and GRA/ESLA and concluded that SML’s services only resulted in marginal changes.

Whether the services from SML have led to increase in tax revenues as a result ofincrease in declarations of petroleum volumes to GRA.This publication is not dealing with other matters in the President’s release.

ACEP and IMANI examined data from GRA and NPA to determine if SML’s services led to increased petroleum liftings and related taxes.

The GRA’s petroleum product data was extracted from its submissions to the Ministry of Finance for statutory reporting under the Energy Sector Recovery Act (ESLA) from 2018 to 2022.

ESLA (GRA II) – Reported petroleum liftings on which ESLA levies are paid to GRA.The table below summarises the annual total and monthly average of the data sourced from the aforementioned sources.

From the above analysis, it is evidentlyclear that whether you use revenue data from GRA or ESLA, petroleum volume liftings reported by GRAin the period before SML’s services were lower than NPA suggesting that there was a difference betweenpetroleum liftings reported for consumption (NPA) and those reported for tax purposes (GRA).

In order to isolate the other factors from the impact of SML’s services, I have determined the year-on-year growth using NPA as that is the most complete data