Nigeria earned $741.48bn from Oil and Gas in 21 years – NEITI

 

The Nigeria Extractives Industries Transparency Initiative says the country earned $741.48 billion from the oil and gas sector between 1999 and 2020.

Dr Ogbonnaya Orji, the Executive Director of NEITI, disclosed this on Wednesday during a Multi-stakeholder Roundtable in Abuja.

Orji said NEITI had conducted 30 reconciliatory reports, revealing that Nigeria made N635.3 billion from the solid mineral sector between 2006-2020.

In contrast, the report stated that the country lost 619.7 million barrels of crude oil valued at $46.16 billion or N16.25 trillion between 2009 to 2020.

“These earnings were between the years 1999-2020 (Oil and gas) and 2006-2020 (Solid minerals sector earnings),” he said.