The Federal Government earned $487.37 billion (28.392 trillion) revenues from the oil and gas sector in 13 years, the Nigerian Extractive Industry Transparency Initiative (NEITI) has declared. NEITI’s Acting Executive Secretary, Dr. Orji Ogbonnaya, who disclosed this in a paper at the 4th Sustainability in the Extractive Industries (SITEI) conference, maintained that the revenues came from equity crude sales, royalty, signature bonuses and taxes between 1999 and 2012.The government of former President Olusegun Obasanjo received about $200 billion, one third of the total money, the paper showed.
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