Nigeria realised $34.22 billion from the oil and gas sector in 2019, the Nigeria Extractive Industries Transparency Initiative (NEITI) has disclosed in its latest audit report. The report showed the revenue was 4.88 per cent higher than the $32.63 billion realised in 2018.
The 2019 report covered 98 entities, including 88 oil and gas companies, nine government agencies and the Nigerian Liquefied Natural Gas (NLNG). A breakdown of the earnings showed that payments by the companies accounted for $18.90 billion, while flows from the government’s sales of crude oil and gas accounted for $15.32 billion…
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