FG earns N14trn from crude export – NNPC

other arrangements and deductions, BarringNigeria earned $74.512 billion, about N14.902 trillion, from crude oil export in 2014, according to data released by the Nigerian National Petroleum Corporation, NNPC. The NNPC, in its 2014 Annual Statistical Bulletin, revealed that the amount was earned by NNPC and other oil and gas companies in the country, which exported about 773.833 million barrels of crude to different regions of the world.
The amount is more than three times the N4.425 trillion budgeted by the Federal Government for 2015. It is also more than the combined budget of the Federal Government from 2013 to 2015, comprising N4.92 trillion for 2013; N4.6 trillion in 2014 and N4.425 trillion in 2015 respectively.
Using the OPEC’s Reference Basket which puts the average yearly basket price of crude oil for 2014 at $96.29 per barrel, the export of 773.833 million barrels of crude translated to $74.512 billion, an equivalent of N14.902 trillion.
Of the total amount, the report noted that the NNPC earned $26.077 billion, an equivalent of N5.215 trillion from the export of 270.819 million barrels of crude oil in 2014.
Top buyers
The NNPC report further revealed that the highest buyers India, Netherlands and Brazil, spent $30.672 billion, about N6.134 trillion on importing Nigeria’s crude oil in 2014.


For the full story, check the Vanguard Newspaper.






























Comments

Post a Comment

Popular posts from this blog

10 World Most Eloquent People

Image
Only the eloquent can adequately describe eloquence. It includes articulation, a mellifluous tone of voice and poise under pressure. To be eloquent is to speak well in a persuasive and deeply thoughtful way. Though it appears to come easily, eloquence does not often come naturally. The most talented speakers often have training in rhetoric and behavioral psychology. Here are 10 great examples of eloquent speakers who have made their mark on the world. 1. Martin Luther King, Jr “I Have a Dream” is perhaps the most powerful speech in American history. In poetic, unequivocal language, he explains how people can live up to their ideals for the sake of their children. 2. Abraham Lincoln In a speech only two minutes long, Lincoln explained the moral justification for the Civil War in his Gettysburg Address. 3. Winston Churchill In a few short years Churchill transformed himself from a burly, unemployed, failed novelist to a leader of the free world with ...
Read more

St. Finbaar’s College, Akoka wins the annual Helmbridge Science Challenge for secondary schools in Lagos State.

St. Finbarr’s College Akoka, Lagos at the weekend won the annual Helmbridge Science Challenge for secondary schools in Lagos State. The school in a six-week-long competition defeated May Day College and Topgrade Secondary School, Surulere in the preliminaries to qualify for the final. The Akoka boys who walked-over Penny International College Coker, the defending champions, for late coming, went into sporadic jubilation on their victory. The News Agency of Nigeria, NAN reports that 16 schools participated in the competition, including Yaba College of Technology Secondary School, St. Finbaar’s College, Penny Internatinal College, Shining Lord’s Secondary and Technical School. Others are St. Michael’s Anglican College, Jubilee Model Grammar school, Fountain Heights Secondary School, St. Gregory’s College and St. Jude’s Private Secondary School. Also in the competition are Methodist Boys’ High School, Birch Freeman High School, Community Senior Grammar School and ABS College. ...
Read more

BIAFRA: IPOB, MASSOB shut down markets, Uwazuruike expelled

Image
  Visit Late Odumegwu Ojukwu’s house to seek his blessing Uwazuruike expelled, Madu takes over as MASSOB leader Forget Biafra, secession —Nwabueze Over seven thousands members of the Indigenous People of Biafra, IPOB, yesterday,   shut   down markets and all commercial activities in Nnewi, Anambra State in solidarity protest for the release of the Director of Radio Biafra, Mr. Nnamdi Kanu, who has been incarcerated by  the Directorate of State Services, DSS, for over one month. Members of the IPOB mobilized from Onitsha, Asaba, Awka, Ekwulobia, Awka-Etiti, Enugu, Imo, Ebonyi and Abia states, converged at  Nnewi from where they marched to the house of the late Ikemba Nnewi, Dim Chukwuemeka Odumegwu Ojukwu to ask for his blessing even in death. This came as constitutional lawyer and leader of eminent group of Nigerians, The Patriots , Professor Ben Nwabueze (SAN),  admonished  the  groups to have a re-think over th...
Read more