Jonathan Sells More Oil Than Yaradua, Obj, Abdusalami & Abacha
Before 2015 general election it is important to make some estimates to figure out the real effectiveness of governmental policy. This time, we would like to present a comparative analysis of oil sales of Jonathan’s administration and recall success of Yar’Adua, Obasanjo, Abdusalami, Abacha administrations combined.
Mainly based on information provided by The Nigerian Central Bank, the US EAI and OPEC, compiled by Sahara Reporters, a comparative analysis of the performance of the past and present Nigerian administrations has been made.
To get these figures, average monthly production was taken and calculated how much dollars volumes Nigeria sold each year. For calculation of inflation 2.5% annual $ inflation rate has been used and in perspective $1.00 in 1999 is equivalent to $1.44 in 2014.
For 5 years before Jonathan total crude oil sales of Nigeria was $470B and in unadjusted numbers $489B for Yar’Adua, Obasanjo, Abdusalami, Abacha administrations combined. Adjusted for inflation, the numbers are $488.8B vs. $594B respectively. It means that only for 5 years Jonathan’s administration has made more oil sales than Yar’Adua, Obasanjo, Abdusalami and Abacha’s administrations combined for 16 years.
This numbers are adjusted because oil price has risen almost 7-8 times during this period. And, in addition to price increase, crude oil output of Nigeria has increased too.
See the full infographics below:
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