Oil earnings rise by N308.6bn

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Oil earnings rise by N308.6bn
Nederland Laatste Nieuws,Nederland Headlines

Nigeria’s crude oil earnings rose by about N308.6bn within two months following the recent increase in the country’s oil output due to concerted efforts by the Nigerian National Petroleum Company Limited and security agencies to halt oil theft.

For November, Nigeria’s crude oil earnings rose by $469.31m or N209.46bn, at the Central Bank of Nigeria N446.32/$ official exchange rate.

Nigeria’s oil production had been crashing since last year following massive oil theft in the Niger Delta region, a development that denied the country billions of dollars in terms of oil revenue. These measures seem to be paying off, as oil production increased consecutively in the months of October and November 2022.

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Nederland Laatste Nieuws, Nederland Headlines