Nigeria’s crude account held $2.31 bln as of Sept 22 as output hovers around 1.8bln bpd


ABUJA, Sept 28 – Nigeria’s excess crude account stood at $2.310 billion as of Sept. 22, the finance minister said on Thursday, slightly lower than a year earlier despite a recovery in production.

The figure, given by Finance Minister Kemi Adeosun according to a government statement, fell from $2.453 billion on the same date last year.

Militant attacks on oil facilities last year reduced Nigeria’s crude production by as much as a third.

Output has largely recovered since then, with production now hovering around 1.8 billion barrels per day. (Reporting by Felix Onuah; Writing by Paul Carsten; Editing by Hugh Lawson)

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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