Nigeria Records ₦‎16 Trillion Worth Of Crude Oil In 9 Months - Politics

Nigeria Records ₦‎16 Trillion Worth Of Crude Oil In 9 Months - Politics - Nairaland

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Nigeria Records ₦‎16 Trillion Worth Of Crude Oil In 9 Months by BrandSpurNG(op): 4:08pm On Dec 07, 2022

Brand Spur Nigeria reports that Nigeria has recorded N16 trillion from crude oil sales between January and September 2022.

The oil sales recorded by the Nigerian National Petroleum Company (NNPC) Limited is captured in the foreign trade report released by the National Bureau of Statistics (NBS).

Despite the huge oil sales, Godwin Emefiele, governor of CBN, last month said foreign exchange receipt from crude oil sales into Nigeria’s official reserves has dried up steadily from above $3 billion monthly in 2014 to $0 today.

According to data gathered, NBS Nigeria earned N5.6 trillion in the first quarter, N5.9 trillion in the second quarter and N4.6 trillion in the third quarter of 2022.

NBS data show that the value of crude oil exports in Q3 rose by 16 per cent compared to N4 trillion recorded in the corresponding period last year.

On a quarter-to-quarter analysis, it reduced by 21 per cent from N5.9 trillion in Q2 2022.

The third quarter of this year recorded the least sales from crude oil. This can be attributed to the low oil production during this period.

The third quarter of this year recorded the least sales from crude oil. This can be attributed to the low oil production during this period.

A further breakdown from the report revealed that Spain was Nigeria’s biggest crude oil customer for the third quarter of 2022.

Spain bought N580.2 billion of crude oil, and India paid N559 billion from July to August 2022.

Other top customers were France (N413.83bn), Netherlands N396.51bn Indonesia paid N406bn, while United States N292.83bn. South Africa N283.70 billion, Ivory Coast N247.73 billion, Portugal N141.74 billion and Italy N192.61 billion completed the top 10 markets for Nigeria’s crude oil.

SOURCE:https://brandspurng.com/2022/12/07/nigeria-records-n16trn-worth-of-crude-oil-in-9-months/

Re: Nigeria Records ₦‎16 Trillion Worth Of Crude Oil In 9 Months by SLAP44: 4:10pm On Dec 07, 2022

And there is nothing to show for it.

Vote for Peter Obi.

39 Likes 1 Share

Re: Nigeria Records ₦‎16 Trillion Worth Of Crude Oil In 9 Months by donbachi(m): 4:10pm On Dec 07, 2022

Can't boast of 24hrs power supply.
Since dem born me,dem still dey work east- west road till date

23 Likes

Re: Nigeria Records ₦‎16 Trillion Worth Of Crude Oil In 9 Months by Brendaniel: 4:23pm On Dec 07, 2022

Where is the money? Why are we still borrowing ?

13 Likes

Re: Nigeria Records ₦‎16 Trillion Worth Of Crude Oil In 9 Months by Suunnn(f): 4:35pm On Dec 07, 2022*

BrandSpurNG:
Brand Spur Nigeria reports that Nigeria has recorded N16 trillion from crude oil sales between January and September 2022.

The oil sales recorded by the Nigerian National Petroleum Company (NNPC) Limited is captured in the foreign trade report released by the National Bureau of Statistics (NBS).

Despite the huge oil sales, Godwin Emefiele, governor of CBN, last month said foreign exchange receipt from crude oil sales into Nigeria’s official reserves has dried up steadily from above $3 billion monthly in 2014 to $0 today.

According to data gathered, NBS Nigeria earned N5.6 trillion in the first quarter, N5.9 trillion in the second quarter and N4.6 trillion in the third quarter of 2022.

NBS data show that the value of crude oil exports in Q3 rose by 16 per cent compared to N4 trillion recorded in the corresponding period last year.

On a quarter-to-quarter analysis, it reduced by 21 per cent from N5.9 trillion in Q2 2022.

The third quarter of this year recorded the least sales from crude oil. This can be attributed to the low oil production during this period.

The third quarter of this year recorded the least sales from crude oil. This can be attributed to the low oil production during this period.

A further breakdown from the report revealed that Spain was Nigeria’s biggest crude oil customer for the third quarter of 2022.

Spain bought N580.2 billion of crude oil, and India paid N559 billion from July to August 2022.

Other top customers were France (N413.83bn), Netherlands N396.51bn Indonesia paid N406bn, while United States N292.83bn. South Africa N283.70 billion, Ivory Coast N247.73 billion, Portugal N141.74 billion and Italy N192.61 billion completed the top 10 markets for Nigeria’s crude oil.

SOURCE:https://brandspurng.com/2022/12/07/nigeria-records-n16trn-worth-of-crude-oil-in-9-months/

Yet nothing to prove worthful

Contact me for your academic assignment, articles,, research works,,, thesis. WhatsApp Me..

7 Likes 1 Share

Re: Nigeria Records ₦‎16 Trillion Worth Of Crude Oil In 9 Months by YodeTechNg(m): 5:53pm On Dec 07, 2022

Suunnn:
Yet nothing to prove worthful

Re: Nigeria Records ₦‎16 Trillion Worth Of Crude Oil In 9 Months by KingOfAmebo(m): 5:53pm On Dec 07, 2022

BrandSpurNG:
SOURCE:https://brandspurng.com/2022/12/07/nigeria-records-n16trn-worth-of-crude-oil-in-9-months/

Yet we are poorer as a nation...no be juju be that? grin

4 Likes

Re: Nigeria Records ₦‎16 Trillion Worth Of Crude Oil In 9 Months by udemzyudex(m): 5:54pm On Dec 07, 2022

Liese

Re: Nigeria Records ₦‎16 Trillion Worth Of Crude Oil In 9 Months by Akwamkpuruamu: 5:54pm On Dec 07, 2022

Yet we are on a borrowing spree. E no go better for zonebs supporting APC and want to continue with blu bla ba luu

6 Likes

Re: Nigeria Records ₦‎16 Trillion Worth Of Crude Oil In 9 Months by halaqasa: 5:54pm On Dec 07, 2022

E be many things walahi

Re: Nigeria Records ₦‎16 Trillion Worth Of Crude Oil In 9 Months by hisgrace090: 5:54pm On Dec 07, 2022*

This govt is harbouring too many criminals as they loot anything that resembles money with impunity.

Re: Nigeria Records ₦‎16 Trillion Worth Of Crude Oil In 9 Months by ThiefnubuBandit(f): 5:54pm On Dec 07, 2022

This is the only reason an old demented drug criminal has to aspire to presidency. Just to loot trillions from oil sales. I didn't call anybody's name. Who the cap fits.

Moh247:

Petroleum Industry Bill is doing wonders...

Now that NNPC is a Private Entity, they would only declare profit and loss Quarterly

If NNPC should try any shady deal, State and LGA can sue them to court to demand the share of their profit

.

Mohammed, you are a chronic ignoramus. You know nothing. Stipends and peanuts thrown at you will make you sprawl on the ground like a toddler.

2 Likes

Re: Nigeria Records ₦‎16 Trillion Worth Of Crude Oil In 9 Months by jeeqaa7(m): 5:54pm On Dec 07, 2022

this CBN guy is a thief o

Re: Nigeria Records ₦‎16 Trillion Worth Of Crude Oil In 9 Months by Nobody: 5:54pm On Dec 07, 2022

APC sha...and life is still hard for the common Nigerian

3 Likes

Re: Nigeria Records ₦‎16 Trillion Worth Of Crude Oil In 9 Months by michlins(m): 5:55pm On Dec 07, 2022

How much is our annual budget and why do we have to borrow

1 Like

Re: Nigeria Records ₦‎16 Trillion Worth Of Crude Oil In 9 Months by Freethinker87: 5:55pm On Dec 07, 2022

2 Likes

Re: Nigeria Records ₦‎16 Trillion Worth Of Crude Oil In 9 Months by LordLugard1(m): 5:56pm On Dec 07, 2022

NIGERIANS HAD AGREED THEY RATHER DIR VOTE MUSLIMS/ TINIBU TICKET

2 Likes

Re: Nigeria Records ₦‎16 Trillion Worth Of Crude Oil In 9 Months by Moh247: 5:56pm On Dec 07, 2022

Petroleum Industry Bill is doing wonders...

Now that NNPC is a Private Entity, they would only declare profit and loss Quarterly

If NNPC should try any shady deal, State and LGA can sue them to court to demand the share of their profit

.

Re: Nigeria Records ₦‎16 Trillion Worth Of Crude Oil In 9 Months by Gbeng30(m): 5:57pm On Dec 07, 2022

Despite all this figure, there is nothing to show for it and moreover it doesn't stop them from keep borrowing

2 Likes

Re: Nigeria Records ₦‎16 Trillion Worth Of Crude Oil In 9 Months by Nobody: 5:59pm On Dec 07, 2022

We no get light for we country but they want make we use cdbc

Re: Nigeria Records ₦‎16 Trillion Worth Of Crude Oil In 9 Months by RepoMan007: 5:59pm On Dec 07, 2022

No surprises.

Re: Nigeria Records ₦‎16 Trillion Worth Of Crude Oil In 9 Months by sofeo(m): 6:00pm On Dec 07, 2022

Ok now.

Re: Nigeria Records ₦‎16 Trillion Worth Of Crude Oil In 9 Months by Brushstrokes20: 6:02pm On Dec 07, 2022

Yet, the shithole is in shambles?
Yet the shithole remains the poverty capital of the world?
Yet, no electricity /fuel to power generator? Etc...

Shame on the lifeless govt of self serving THIEVES AND BLOODTHIRSTY TERRORISTS undecided