How Nigeria loses 41% in oil export proceeds

NNPC spends N966bn on pipeline repairs

How Nigeria lost 41% in oil export proceeds   Proceeds from oil export fell by a whopping 41.44 per cent to $2.033 billion in the first nine months of 2020, compared to $3.47 billion received in the corresponding period of 2019, data from the Nigerian National Petroleum Corporation, NNPC, has revealed. NNPC had, in its September 2020 edition of the Monthly Financial and Operations Report (MFOR) disclosed that revenue from oil and gas export for the month of September, 2020, rose by 16 per cent to $120.49 million. But a…

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