Nigeria’s Oil Revenue Rose 46% to $59 Billion in 2010
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Nigeria’s oil exports rose 46 percent to 9.15 trillion naira ($59 billion) last year as prices increased and companies raised output on improved security in the Niger River delta, the National Bureau of Statistics said.
Nigeria, Africa’s top oil producer, earned $196 billion from oil and gas exports in the four years through 2010, the statistics office said today in a statement. The West African nation depends on oil exports for more than 80 percent of government revenue and 95 percent of foreign-exchange income.