(EnergyAsia, August 26 2013, Monday) — Nigeria’s state revenue for July plunged 42% to 498 billion naira from the previous month due largely to theft and losses in crude oil flows that feed over 80% of the government’s budget. (US$1=161 naira). The losses could mount and become permanent if the government proceeds to pass a…
NIGERIA: State revenue down 42% on oil thefts and losses, while majors warn new taxes could cost economy US$185 billion
Posted on August 26, 2013 by EnergyAsia