The state-run Nigerian National Petroleum Corporation has secured $1.2 billion to drill wells offshore and onshore under a joint venture with Chevron Nigeria, the NNPC said Sunday. Nigeria has been criticized for failing to meet obligations to its oil JV partners, which has affected efforts to reach production targets of over 4 million barrels a day and reserves to 40 billion barrels. The $1.2 billion package will finance the development of 23 onshore and 13 offshore wells. The NNPC/CNL Joint Venture is the third largest oil producer in Nigeria, the statement said. Nigeria, Africa’s largest oil producer, relies on crude exports for over 90% of its foreign exchange earnings and 70% of government revenue, according to the International Monetary Fund.