- Nigeria has earned about $119 billion from crude oil exports from 2017 to 2021 under President Muhammadu Buhari
- The country produces over one million barrels of crude oil per day, which is a far cry from previous productions
- Experts say oil thefts and pipeline vandalism are to blame for the dwindling fortunes of Nigeria’s slip in oil export
Statistics from the Central Bank of Nigeria (CBN) reveal that Nigeria earned about $195 billion exporting crude oil between 2017 and 2021.
Available data show that the country would have earned more than the amount but due to the dwindling daily crude oil production, the amount fell short, according to a Nairametrics reports.
For the last 10 years, Nigeria has produced an average of 2.085 barrels of crude oil per day.
In 2021, the country’s daily crude oil output stood at 1.48 million barrels per day, a 15 per cent decline from the year before.
SOURCE: legit.ng
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