Nigeria reaps $236b from oil export


Nigeria made $236.15 billion from petroleum exports over the last five years, a new report by the Organisation of Petroleum Exporting Countries (OPEC) reveals.

OPEC, in its 2019 Annual Statistical Bulletin, put the value of Nigeria’s petroleum exports at $75.196 billion in 2014; $41.168 billion in 2015; $27.295 billion in 2016.

Nigeria, according to the report, recorded $37.983 billion in 2017, and $54.513bn in 2018.

In 2018, the value of the country’s petroleum exports was the sixth biggest in the 14-member group, behind Saudi Arabia’s $194.358bn, UAE’s $74.94bn, Iraq’s $68.192bn, Iran’s $60.198bn and Kuwait’s $58.393bn.