5 October 2017

Nigeria Realises N118 Trillion in 53 Years From Crude

Photo: This Day
Barrels of oil.

The National Bureau of Statistics (NBS) says Nigeria has realised more than N118 trillion from crude production and refining from 1961.

The NBS report, which has additional data from the Nigerian National Petroleum Corporation (NNPC), collated its statistics from 1961 till 2014.

"The petroleum statistics on crude oil production and oil refining reflects that a total 32.70 billion barrels of crude oil valued at N118.49 trillion has been produced between 1961 and 2014," the report said.

"The highest barrels of crude production was recorded in the year 2005 with 918.66 million barrels valued at N6.14 billion.

"The lowest was, however, recorded in 1961 with 16.80 million barrels valued at N18.73 million.

"The yearly domestic crude oil refining data from 1997 to 2014 also reflected that 844.19 million of crude oil has been received and 835.58 million processed within the period under review."

NAN

More on This

Nigeria Earned, Squandered N77trn Oil Revenue in 17 Years

Nigeria, over the last seventeen years, has recorded huge earnings from the petroleum industry, but had been unable to… Read more »

Copyright © 2017 Premium Times. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 800 reports a day from more than 140 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.