Since 1999, the Nigerian government set a daily oil production target of four million barrels and reserve level of 40 billion barrels by 2010 for the industry.
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Nigeria Earned $400bn for Oil
Nigeria has realized 400 billion U.S. dollars as revenue from oil sales
Nigeria has realized 400 billion U.S. dollars as revenue from oil sales in its 50-year commercial production of the black gold, national newspaper reported on Wednesday.
The revenue, also known as economic rent, represents an average of nearly 8,000 million dollars annual income the Nigerian government has raised from the sector during the period.
Since 1999, the Nigerian government set a daily oil production target of four million barrels and reserve level of 40 billion barrels by 2010 for the industry.
Since 1999, the Nigerian government set a daily oil production target of four million barrels and reserve level of 40 billion barrels by 2010 for the industry.
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