Facts have emerged from the Organisation of Petroleum Exporting Countries that Nigeria, the largest oil exporter in Africa, got revenue valued at $206.06billion from petroleum export from 2015 to 2019
OPEC, the Organisation of Petroleum Exporting Countries said breakdown is contained in the organisation’s 2020 Annual Statistical Bulletin published on its site.
Reports from OPEC has it that the Nigeria’s oil export revenue fell in 2016 to $27.29billion from $41.17billion in 2015, tipping the country into recession.
From the publication, Oil revenue later improved in 2017 to $37.98 billion and by the time the country’s economy came out of recession in 2018, the revenue went up to $54.51billion.
Nigeria was the fifth biggest revenue-earner in OPEC 2019.