Nigeria’s total crude export declined by 13.45 per cent, between December 2012 and December 2013, leading to a loss of $1.134 billion, about N181.44 billion, due largely to a 90 per cent drop in crude oil exports to the United States which has stepped up production of shale oil and gas, LEADERSHIP has learnt. Specifically, the country recorded total crude export of 64.537 million barrels in December 2013, down by 10.03 million barrels from 74.564 million barrels recorded at the end of 2012. As a result, the country earned $7.299 billion, about N1.168 trillion, from crude export as at December 2013, down by $1.134 billion (N181.44 billion) from $8.434 billion, about N1.349 trillion, recorded in December 2012. KPMG Professional Services had in February warned that the discovery and exploration of shale oil and gas across the globe would put Nigeria’s economy at serious risk, unless the country was able […]