₦airaland Forum

Nigeria earned $55.5 billion from the oil and gas sector and N55.82 billion from the solid minerals sector in 2014, the latest audit reports of the Nigeria Extractive Industries Transparency Initiative (NEITI) have revealed.

The NEITI 2014 audit reports also showed that a total of $4.7 billion and N318.2 billion that should have gone to the Federation Account were not remitted by the Nigeria Petroleum Development Corporation (NPDC) and its parent company, Nigeria National Petroleum Corporation (NNPC).

Losses from crude-for-product swap and Offshore Processing Arrangements (OPA) were put at $198.7 million in 2014.

At the close of the 2014 audits, it said NPDC had not paid the outstanding $1.7bn for the eight OMLs under the Shell JV divested to it by NNPC.

NPDC had also not paid for the four OMLs under the NAOC JV divested to it by NNPC. Those four assets were recently valued by the Department of Petroleum Resources (DPR) at $2.25 billion. NPDC had sought clarification for the basis of the valuation.

The reports said the total revenue flows for the oil and gas sector fell from $58.07 to $55.5 billion between 2013 and 2014, a decline of about 5%.

However, revenue flow for the solid minerals sector in 2014 showed a marked improvement over the previous year, with a 48% rise from the N37.676 billion of 2013 to N55.8 billion in 2014.


http://www.dailytrust.com.ng/news/business/nigeria-earned-55-5bn-from-oil-gas-sector-in-2014-neiti/178685.html#69TWWxTMbQwYVfQQ.99

Nigeria earned 55 billion dollars that year and Sanusi was screaming that 50 billion dollars was missing that same year.

So Sanusi meant that the Govt only used 5 billion to execute the budget for the whole of that year.

People like Sanusi deserve to be shot for deceiving the people into believing that Jonathan was stealing their money just so that people can vote in the dullardino

Another propaganda to usher in the new year..

I love the way you lie

This is why I hate Nigeria. How much did we earn from cattle? how much did Nigeria earn from land mass of North? How much did Nigeria earn from the big population of North? How much did Nigeria earn from minerals in North?

ask GEJ

Sealeddeal:
This is why I hate Nigeria. How much did we earn from cattle? how much did Nigeria earn from land mass of North? How much did Nigeria earn from the big population of North? How much did Nigeria earn from minerals in North?

Cattle market very informal so it's hard to quantify.
Landmass of north look up gdp for every state.
Mineral sector extremely weak due to government policies. The north part is laggard region.


Mineral sector is less than 1% of gdp.
Animal products as of 2014 contribute $81.5M to gdp 2014

Sealeddeal:
This is why I hate Nigeria. How much did we earn from cattle? how much did Nigeria earn from land mass of North? How much did Nigeria earn from the big population of North? How much did Nigeria earn from minerals in North?

whether na north, south, east or west. All of una follow dey destroy the country. We've had leaders from the NSEW.
oil was discovered in 1956, Nigeria was amalgamated 42 years before. ..is it not right that oil was supposed to drive our growth and serve all! $55bn is enough for 200million people in a year.
The biggest problem rather is that black mofos don't know anything apart from servility. Na to destroy things we sabi well well.