The Central Bank of Nigeria (CBN) has attributed the significant decline in oil revenue for the third quarter of 2024 to ageing pipeline infrastructure and operational inefficiencies According to the apex bank’s latest economic report for the third quarter of 2024, oil revenue fell by 24.72 per cent to N1.30 trillion compared to the second quarter of 2024. This drop …

Nigeria’s oil revenue dipped by 28.3 percent between the fourth quarter of last year and the first quarter of this year, according to the Central Bank of Nigeria (CBN). In its economic report for the first quarter of 2022, the CBN said the country generated N799.1 billion from oil sector in Q1 2022., as against N1.11 trillion in Q4 2021. …