From my limited understanding,the NNPC and the likes of shell,chevron explore and export the crude oil abroad to buyers and that's where we make our oil revenue, 2nd part of the oil is refined in Nigeria's refineries while the 3rd part is also taken abroad to be refined since the local refineries can't cope with the demand.
Now the refined fuel we then import will obviously be more expensive than the crude oil we export,so to make any sort of profit Nigeria has to export the crude oil in larger quantities as compared to the refined fuel it imports.
So since the price of crude oil has gone down,Nigeria would have to export at an even higher/faster rate to make for the oil price crash,else it's account will be on a -ve. Therefore the best way will be to increase the % of oil sent for outright export and reduce the % of oil sent to be refined and has to be rebought!!
I'm just looking at it from a layman's view oh. Pls how does this oil thing work?

Where is my seat? It's time to learn.