Nige­ria re­alises N118trn in 53 years from crude-NBS

Weekly Trust - - News -

The Na­tional Bureau of Statis­tics (NBS) says Nige­ria has re­alised more than N118 tril­lion from crude pro­duc­tion and re­fin­ing from 1961. The NBS re­port, which has ad­di­tional data from the Nige­rian Na­tional Petroleum Cor­po­ra­tion (NNPC), col­lated its statis­tics from 1961 till 2014.

“The petroleum statis­tics on crude oil pro­duc­tion and oil re­fin­ing re­flects that a to­tal 32.70 bil­lion bar­rels of crude oil val­ued at N118.49 tril­lion has been pro­duced be­tween 1961 and 2014.

“The high­est bar­rels of crude pro­duc­tion was recorded in the year 2005 with 918.66 mil­lion bar­rels val­ued at N6.14 bil­lion.

“The low­est was, how­ever, recorded in 1961 with 16.80 mil­lion bar­rels val­ued at N18.73 mil­lion.

“The yearly do­mes­tic crude oil re­fin­ing data from 1997 to 2014 also re­flected that 844.19 mil­lion of crude oil has been re­ceived and 835.58 mil­lion pro­cessed within the pe­riod un­der re­view,’’ the re­port stated.

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