┬áTHE Federal Government is at risk of losing part of its 2014 crude oil earnings of over $84 billion (N13.4 trillion) to the continuous decline in the prices of crude oil. Nigeria realized about $40 billion (N6.4 trillion) from crude oil export between January and June 2014, having earned N13.4 trillion in 2013. According to the United State Energy Information Administration (EIA), This revenue positioned Nigeria as the fourth highest earner among oil producing countries, after Saudi Arabia ($274 billion), Kuwait ($45 billion), and Iraq ($45 billion), during the same period. Already, members of the Petroleum Exporting Countries (OPEC) had its revenue slashed in the first half of this year due to the decline in the price of crude oil during the period. As at Monday this week, the cost […]