The global drop in crude oil prices continued to affect Nigeria, as the country recorded about N48.7 billion loss in revenue from oil exports in November and December, 2014.
The Accountant General of the Federation, Jonah Otunla, stated this in his revenue report during the January Federation Accounts Allocation Committee meeting held in Abuja on Tuesday.
According to Mr. Otunla, the country suffered a substantial loss in revenue of about $77.53 million (about N13.025 billion) in November as a result of the massive drop in crude oil price at the international oil market.
He said the loss dropped to about $52.34 million (about N8.79 billion) in December, in addition to a 33 per cent decrease in the volume of export of the country’s oil for the two months, which translated to a loss of about $159.88 million (about N26.9billion).
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