Nigeria’s Earnings From Crude Oil Export
According to National Bureau Of Statistics, Nigeria has recorded it’s earnings by years from 2012 to Date in USD.
Here is the break down of Nigeria’s Crude Oil earnings from 2012 to date on Labaranyau.
2021 — $36.05 billion
2020 — $26.09 billion
2019 — $47.86 billion
2018 — $49.51 billion
2017 — $36.06 billion
2016 — $27.02 billion
2015 — $34.93 billion
2014 — $74.74 billion
2013 — $75.07 billion
2012 — $98.63 billion
According to Dr. Ugo Egbujo so much has been said about what the APC borrowed.
Let’s put things in context
Nigeria’s total external debt is about 40B
I know our weak revenues make these debts burdensome
But let’s check out something
In 2012 Nigeria earned 98 B from oil
In Buhari’s second year 2016 Nigeria earned 37 Billion from oil
So comparing 2012 and 2016
The fall in earning was about 60 B dollars
That’s more than all Buhari’s external borrowing for 7 years
Yet the PDP that couldn’t fix anything from 2010 to 2015 moans and moans .
From 2010 to 2015 the PDP earned 410B
From Buhari’s assumption of office till end of 2021 APC earned about 250B
That difference in earning for that period 5 and 1/2yrs for PDP and 6 and 1/2 years for APC
Is almost 150B dollars.
Our total debt profile is 103 billion
So for the APC to have about same money the PDP had on a small frame of time the APC would have needed to borrow 150B.
The huge shortfall in oil revenues lend sone justification to the borrowings. Even with the scope of loans , the APC has had much less than what the PDP had.
He said “I think the PDP should shut up a bit”
