Barring other arrangements and deductions, Nigeria 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.

nnpcThe 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. Specifically, the three countries purchased 318.534 million barrels of crude oil from Nigeria, accounting for 41.16 per cent of Nigeria’s crude oil export as shown below:

India – $13.136 billion, about N2.627 trillion for 136.42 million barrels.
Netherlands – $9.817 billion or N1.963 trillion for 101.954 million barrels
Brazil – $7.719 billion, about N1.544 trillion for 80.16 million barrels

Export to other countries

In addition to the top buyers, Nigeria exported its crude to other countries including:

Spain – 79.648 million barrels
South Africa – 51.149 million barrels
France – 49.384 million barrels
Italy – 35.39 million barrels;
Indonesia – 35.137 million barrels;
United Kingdom – 31.488 million barrels

Contrary to claims that the United States had stopped importing Nigeria’s crude, the report showed that it imported about 24.048 million barrels in 2014.

Export to regions

Analysis of Nigeria’s crude oil export by regions showed as follows:

Europe – 354.545 million barrels, 45.82%
Asia and Far East – 193.267 million barrels, 24.98%
African – 97.874 million barrels, 12.65%
South America – 90.664 million barrels, 11.72%, and,
North America – 27.094 million barrels, 3.5%

In general, the NNPC stated that, “A total of 796.654 million barrels, representing 2.18 million barrels per day of crude oil and condensate was lifted fo

r domestic and export purposes, showing a slight decrease of 0.46 per cent against 2013 figures. “Of the total quantity, NNPC lifted 349.721 million barrels of crude oil, representing 42.86 per cent of the total, averaging 958,141 barrels per day for both domestic utilisation and export.”

Source :http://www.vanguardngr.com/2015/07/fg-earns-n14trn-from-crude-export-nnpc/#sthash.8zrWIzNh.dpuf

#14trn pere...

Nigeria keeps sucking the Niger Delta resources to feed her Ungrateful Northern elements

Great

1. How much quantity of crude oil was stolen in the year under review?

2. How much was given as PR to militants?

3. 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. Where is the excess? Considering the per barrel budget benchmark for Year 2014...

4. How much in Naira was remitted to the treasury?

Jonathan government sef

Make I occupy until Jesus come...

My discord with "FGN" is that the geese that lay the golden eggs are malnourished

its time for Aregbeshola to pay..

no more excuses

loool....




And how much does oga jonah and Allison earns from it?

It's very sad that the region producing this colossal figure has nothing to show for it in terms of employment, infrastructure and social amenities. .

Mogbe, I dont understand. Please where is the money?

My President is working. Proud of you baba Yusuf, Olowo ori oko Aisha, Opomulero Daura.

Middle finger for saTANist.

Too much money no be nigeria fault...

all is well




https://www.youtube.com/watch?v=cKhxUykOAv8&feature=youtu.be

Impossible.. And they all know it.. Who are they trying to deceive lol. In a year when oil prices fell by almost half and we did not export a single drop of oil to the USA for 6 months... I laff in Spanish

This obviously isn't true.. If it is, investors will know.. Marketers will know.. Even if the money is misappropriated.. The Nigerian market will never tank the way it did.

Not possible in a million years.. We absolutely did not earn that amount or anything close to it

I'm not for or against APC or PDP or anything.. But sometimes we have to apply common sense.. You can't make those sales and have an economy where investment is an issue. It's just not possible..

Adenugay:
Mogbe, I dont understand. Please where is the money?

f for fool

mrlaw93:
h

h for house

Ok

14Trillion, yet Nigerians are suffering!

Our leaders are wicked.

Keneking:
Great

1. How much quantity of crude oil was stolen in the year under review?

2. How much was given as PR to militants?

3. 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. Where is the excess? Considering the per barrel budget benchmark for Year 2014...

4. How much in Naira was remitted to the treasury?

Jonathan government sef

400,000 barrels of crude was reportedly stolen everyday by oil thieves last year. In total, that equals 146,000,000 barrels. In naira terms and using the opec basket price, that amounts to N14,056,350,000. I guess that accounts for the militants share.

money121:

h for house

Grow up boi..

CONDOLENCE TO THOSE THAT LOST THERE LOVE ONES ON YESTERDAYS BOMBINGS THAT OCCURRED IN KADUNA KANO JOS,,MAY ALLAH GIVE THE FAMILY THE FORTITUDE TO BEAR THE LOST ..AMEN

ff

Jesu kristi ! ! ! May my Jesus Forgive those that said Nigeria Treasury is Empty and Broke .

THE REDEEMED CHRISTIAN CHURCH OF GOD INVITES YOU TO HER 63RD ANNUAL CONVENTION
THEME: THE ALL SUFFICIENT GOD.
DATE: 3 - 9 AUGUST, 2015.
VENUE: REDEMPTION CAMP, KM 46 ALONG LAGOS/IBADAN EXPRESSWAY, OGUN STATE, NIGERIA.
TIME: 8PM.
MINISTERING: THE ALL-SUFFICIENT GOD.

And Jona spent everything on campaign.

This one no be news again.

,

Out of 74.5 billion dollars Forex, NNPC earned just 26 billion dollars representing 35%

Food for thought for those who believe 20 billion dollars can just grow wings and vanish

Let us analyze:

1. "Nigeria" NOT FG earns 14Trn.

2. Some of us know that the crude is lifted as joint venture with several companies

3. Why dont we review the percentage that accrues to NNPC?

4. We all know that there were leakages, but of what use are the lies and bloating of figures?

5. Very soon, we will look up to Buhari's government to perform magic with the 14Trn expected from crude this year. The lie will not pay anybody.

Can we now see that Chukwuma Soludo was right after all?

in mama peace voice 'there is God o' this money we are shearing. but wait a minute if this is true, where all the money enter. abi na voice mail

That is a huge sum

Why the lies?

We are not really feeling this money.They just give us on paper.