Nigeria's Oil Revenue Jumps 70% Despite Production Dip

Nigeria's oil and gas sector has seen a stunning 70.49% year-on-year revenue surge, reaching ₦813.22 billion in February 2025, according to the Central Bank of Nigeria (CBN). This impressive increase comes despite a 4.55% decline in domestic crude production, which fell to 1.47 million barrels per day due to maintenance issues and lower output from key terminals. This video examines the factors driving this revenue spike, including a rise in royalties and insights from Uzochukwu Obienu, Partner at KPMG Nigeria. We also discuss the implications of falling crude prices and what this means for Nigeria’s economy as it works to diversify away from oil dependence.
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Видео Nigeria's Oil Revenue Jumps 70% Despite Production Dip канала News Central TV