According to a statement by the Ministry of Finance, Budget and National Planning, Nigeria’s excess crude account has declined by 89 per cent in the last eight years, moving from $4.1 billion in November 2014 to $472,513 in Read More
Tags :Oil revenue
In a report by the Nigerian Midstream and Downstream Petroleum Regulatory Authority, oil theft through pipeline sabotage caused 98 percent of oil spill in Nigeria’s oil and gas sector since June this year till date. Read More
Data from the Organisation of Petroleum Exporting Countries has showed Nigeria’s crude oil production plunged by 2.3 million barrels in July 2022 when compared to what the country produced in the preceding month of June 2021. In Read More
The Nigerian National Petroleum Corporation has said that it made N1.7 trillion as revenue from crude oil sales in one year. The corporation’s latest monthly and financial report for August said the sum was Read More
Figures from the Foreign Trade Report of the National Bureau of Statistics had said that Nigeria’s crude oil exports jumped to N5.6 trillion in the first quarter of 2022. This reflects nearly 200 percent increase when Read More
Figures by the National Bureau of Statistics have revealed that real growth of the oil sector was –26.04% (year-on-year) in the first quarter of 2022. This indicates a decrease of 23.83 percent points relative to the rate recorded Read More
Nigeria’s oil production declined in 2021 due to a lack of maintenance and the loss of infrastructure efficiency, the World Bank has said, adding that Nigeria was yet to benefit from increasing oil prices as Read More
The Nigerian National Petroleum Corporation has said it recorded a total of $219.75 million from crude oil and gas export sales in May 2021. This represents a 180.29 percent increase in sales from April 2021. This is contained Read More
The Nigerian National Petroleum Corporation said that its revenue for the 2020 financial year fell to N3.72 trillion from N4.63 trillion in 2019. This shows a difference of N916bn. This is coming after declaring its first Read More
President Muhammadu Buhari on Monday, August 16, 2021, signed into law the long-awaited Petroleum Industry Bill as confirmed in a statement signed by Femi Adesina, Special Adviser on Media and Publicity to the President. Before now, Read More
