Oil Revenue in Nigeria
The Nigerian central government gains (and gained) a lot of its revenue from oil companies which pay a charge for the petroleum they ship out of Nigeria. This table shows the percentage of total government revenue which comes from these charges on oil.
Year | Percentage |
1958-59 | .08 |
1962-63 | 7.31 |
1966-67 | 18.26 |
1970-71 | 25.99 |
1974-75 | 80.81 |
1978-79 | 66.30 |
1982-83 | 67.00 |
1986-87 | 75.80 |
1989-90* | 97.24 |
*Last year of information on the source.
[Adapted from data in Eghosa E. Osaghae, Crippled Giant Nigeria Since Independence (Bloomington: Indiana University Press, 1998), p. 20.]