₦airaland Forum

There is no need deceiving yourselves and think you are deceiving Nigerians. We have intelligent Nigerians who do not take statistics and narratives on the surface.

So, lets do the maths:
Assuming that the exchange rate is N1500 to the $, then we have received equivalent of $13.7B (N20.59T)
Of this amount, non-oil export accounted for $10.4B or N15.6 T, according to Tinubu and lieing APC government.

It therefore means that oil export accounted for $3.3B revenue in the last 8 months. A BIG FAT LIE

Every Nigerian knows that we export crude daily and our average production is 1.6 million barrels a day, (that is we export 1.7 to 1.8 million barrels per day (bpd). Also, we know that the average price for WTI crude oil in the first seven months of 2025 was $68.25 per barrel, while the average for Brent crude oil for the year is estimated to be around $80.53..

For the purpose of this analysis, we assume the following:
Average daily oil production and sale = 1.6m barrels
No. of days of oil production YTD: 8months * 25 days = 200 days
Estimated production and sales YTD = 1.6million barrels * 200 days = 320,000,000 barrels
Then, since we sell at $70 per barrel, then our OIL REVENUE FOR 2025 WILL BE 320,000,000 BARRELS * $70 = $22,400,000,000 (Twenty two Billion, Four Hundred Million Dollars)

When we translate this to Naira at the exchange rate of N1500 to the USD, you have N33.6 Trillion,
The questions are:
i. How did FG get their N20.6 Trillion, when estimated oil revenue alone is N33.6T?
ii. If non-oil revenue is truly N15.69 Trillion or $10.5B, then the only revenue estimated from oil sales is N4.9T or $3.3B.

This government has to tell Nigerians where the difference of $30.3Billion went to as that revenue is MISSING

Validated:
There is no need deceiving yourselves and think you are deceiving Nigerians. We have intelligent Nigerians who do not take statistics and narratives on the surface.

So, lets do the maths:
Assuming that the exchange rate is N1500 to the $, then we have received equivalent of $13.7B (N20.59T)
Of this amount, non-oil export accounted for $10.4B or N15.6 T, according to Tinubu and lieing APC government.

It therefore means that oil export accounted for $3.3B revenue in the last 8 months. A BIG FAT LIE

Every Nigerian knows that we export crude daily and our average production is 1.6 million barrels a day, (that is we export 1.7 to 1.8 million barrels per day (bpd). Also, we know that the average price for WTI crude oil in the first seven months of 2025 was $68.25 per barrel, while the average for Brent crude oil for the year is estimated to be around $80.53..

For the purpose of this analysis, we assume the following:
Average daily oil production and sale = 1.6m barrels
No. of days of oil production YTD: 8months * 25 days = 200 days
Estimated production and sales YTD = 1.6million barrels * 200 days = 320,000,000 barrels
Then, since we sell at $70 per barrel, then our OIL REVENUE FOR 2025 WILL BE 320,000,000 BARRELS * $70 = $22,400,000,000 (Twenty two Billion, Four Hundred Million Dollars)

When we translate this to Naira at the exchange rate of N1500 to the USD, you have N33.6 Trillion,
The questions are:
i. How did FG get their N20.6 Trillion, when estimated oil revenue alone is N33.6T?
ii. If non-oil revenue is truly N15.69 Trillion or $10.5B, then the only revenue estimated from oil sales is N4.9T or $3.3B.

This government has to tell Nigerians where the difference of $30.3Billion went to as that revenue is MISSING

OP, thank you for the analysis. However, the basis of your assumptions as it relates to crude oil production is floppy!
For the records, the oil production figures quoted represent our total production figures. As you may be aware, NNPC Ltd signed different contracting agreements with IOC ranging from Production Sharing, Joint Ventures Holdings and Sole Risk etal, on account of this FG is only entitled to a fixed proportion of our daily production as function of the percentage sharing formular.