The Federal Government earned an estimated ₦20.22 trillion from crude oil exports between January and May 2026, as higher global oil prices offset lower export volumes despite concerns over domestic crude supply. The earnings underscore the continued importance of crude oil to the country’s economy and foreign exchange inflows, despite ongoing efforts to diversify revenue sources and strengthen local refining capacity. Industry data indicate that global crude prices remained relatively firm during the period, driven by geo-political tensions, supply management measures by major oil-producing countries, and resilient demand in key…
Read More‘FG earns ₦20.2tr from crude oil exports in 5 months’
