•Increase of 4.88% when compared to the Earnings from the sector in 2018.
•N518.074Billion deducted as payment for under-recovery on PMS
• Report Calls on government to recover debts from companies
Nigeria earned a total sum of $34.22billion from the oil and gas sector in 2019. The figure represents an increase of 4.88% over the $32.63billion revenue netted from the sector in 2018. A breakdown of the earnings showed that payments by companies accounted for $18.90billion, while flows from Federation sales of crude oil and gas accounted for $15.32billion.