26.05.2015 - Nigeria earned N12.3 trillion as excess crude oil money in 4 years – Okonjo-Iweala
Nigeria earned a huge $61.7 billion (about N12.3 trillion) in four years as excess crude oil money, the finance minister, Ngozi Okonjo-Iweala, said Saturday. According to the minister, Nigeria earned about $18.14 billion in 2011; $18.16 billion in 2012; $15.19 billion in 2013; $8.01 billion in 2014, and $2.17 billion in 2015. The Excess Crude Account is one of the two accounts (dollar and Naira) where the Nigerian government saves revenue earnings from the difference between budgeted benchmark crude oil price and the actual price at the international market in a given year...............................................Full Article: Source
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