Nigeria earns N6trn from oil in 11 months – CBN

LAGOS — The Central Bank of Nigeria, CBN, yesterday, said that Nigeria received N6.24 trillion ($40 billion) as oil revenue  from January to November last year.

Meanwhile, the apex bank retained its tight money supply policy, as it left the Monetary Policy Rate, MPR, at 12 per cent.

In a communiqué issued at the Monetary Policy Committee, MPC, of the CBN, yesterday, the apex bank said: “In the first 11 months of 2012, oil receipts totalled US$40.087 billion.”

This, it said, enhanced the stability of the exchange rate and built up of the external reserves. Read more

Image source: Vanguard News

About Author: Integrity Org

Integrity Organization is committed is an anti-corruption, research and advocacy organization. Its activities are centered on the aim to reduce the tolerance for corruption in Nigeria.

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