Nigeria’s gross oil revenue in July increased by 42.7 percent to ₦362.42 billion against ₦254.02 billion recorded in June this year, the National Bureau of Statistics, NBS, said. The report which is titled, “Fiscal Statistics on Government Revenue and Expenditure” for July 2017, stated that gross revenue generated for July was ₦701.85 billion, while the […]
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The Federal Government is targeting an increase of N800bn in oil revenue in the next three years, according to the and Growth Plan. The projection is based on an increase in the crude oil production volume from 2.2 million barrels per day to about 2.5 million barrels per day. This is expected to be achieved as […]
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Nigeria is said to have lost an estimated $30 billion in oil revenue between 2014 and 2015, the Executive Director, Nigerian Export Promotion Council (NEPC), Olusegun Awolowo, has said. He spoke in Abuja on Friday at the batch three graduation ceremony of 38 Zero to Export Capacity Building Programme beneficiaries. He said: “The essence of […]
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REUTERS: AN end to sanctions on Iran has driven global crude futures to 12-year lows and brought sub-$20-a-barrel oil in sight, although for some producers that is already a painful reality. This unfortunate group sells some physical crude cargoes at prices that are closer to $10 a barrel, thanks to an abundance of the “sour” […]
Read More The proposed oil revenue in the 2016 budget presented by President Muhammadu Buhari to the National Assembly about three weeks ago is facing a setback as the nation’s crude exports begin to fall amid further slide in global oil prices. Industry analysts also say crude oil production in the country will continue its decline this […]
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