A comparative analysis of official crude oil lifting values published by the NNPC has shown that the total value of crude oil sold by Nigeria between January and December 2016 dropped by $6.7 billion from $40.5 billion in 2015 to $33.8 billion

The monthly NNPC operations report for January 2017 released on Monday showed that $33.8 billion was earned from domestic and export sales of 668.59 million barrels of crude oil and condensates at an average price of $47/barrel under different production arrangements.

The report showed that while oil sales dropped by $6.7 billion volume also collapsed by over 103 million barrels to 668.59 million barrels as against 772.20 million barrels recorded in 2015.