Nigeria's Oil Company Kept Nearly Half Of Oil Revenue – NEC


Nigeria’s state oil company earned 8.1 trillion naira ($41 billion) from 2012 until new President Muhammadu Buhari was inaugurated on May 29, but only paid 4.3 trillion into the federal government’s account, the country’s National Economic Council (NEC) said on Monday.

The NEC, which includes the country’s 36 state governors, its central bank governor and is chaired by the vice president, met on Monday for the first time since Buhari was sworn in.

The figures were given to reporters after the meeting by Edo State governor Adams Oshiomhole, speaking on behalf of the NEC.