Nigeria loses 138,400 barrels of crude per day (about 7% of its total production) to theft, oil spills or shortage in production, according to a report from the Nigerian Extractive Industries Transparency Initiative (NEITI). The NEITI report further said that Nigeria has lost more than 505 million barrels of crude,[Read More…]
Tag: Oil
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FG Revenue Rises 76% to N12.5tn, Fueled by Tax and Oil Gains — Budget Office
The Federal Government’s earnings have increased by 76 percent, rising from N7.1 trillion in 2022 to N12.5 trillion in 2023, due to higher taxes and oil revenues. This information was revealed in the recently released 2025-2027 Medium Term Expenditure Framework and Fiscal Strategy Paper from the Ministry of Budget and[Read More…]