Nigeria’s Oil to Dry Up in 38 Years – Survey

Nigeria’s proven hydrocarbon (oil) reserves currently estimated to be in the region of 31 billion barrels is to dry up in the next 38 years, that is, by the year 2043, a global survey has shown.

Oil is currently the backbone of the Nigerian economy, accounting for 90 percent of total foreign exchange revenue. With the recent general increase for all member countries above the Organisation of Petroleum Exporting Countries’(OPEC), daily crude production quota, the country now produces 2.71million barrels per day (bpd) and exports same for sale at the international oil market.
AllAfrica.com