Based on the current $68.53 a barrel price against $101.64 which the commodity was traded in June, the revenue loss would be $33.11 per barrel; $2.01 (N340 billion) a month; and $24.17 billion a year, at a production level of two million barrels a day or 730 million barrels a year. With this analysis, the country could lose about $24.17 billion in the next one year or monthly average lose of $2.01billion (N340 billion). Read more @ The Guardian
Tuesday 9 December 2014
‘NIGERIA MAY BE LOSING N340B MONTHLY
NIGERIA may lose an about $24.17 billion (N4 trillion) within the next one year if crude oil prices fail to rebound.
Based on the current $68.53 a barrel price against $101.64 which the commodity was traded in June, the revenue loss would be $33.11 per barrel; $2.01 (N340 billion) a month; and $24.17 billion a year, at a production level of two million barrels a day or 730 million barrels a year. With this analysis, the country could lose about $24.17 billion in the next one year or monthly average lose of $2.01billion (N340 billion). Read more @ The Guardian
Based on the current $68.53 a barrel price against $101.64 which the commodity was traded in June, the revenue loss would be $33.11 per barrel; $2.01 (N340 billion) a month; and $24.17 billion a year, at a production level of two million barrels a day or 730 million barrels a year. With this analysis, the country could lose about $24.17 billion in the next one year or monthly average lose of $2.01billion (N340 billion). Read more @ The Guardian
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