Bonny Light oil oil produced in Angola. The Bonny Light is in high demand specifically by American and European refineries. It is therefore a major source of income for the oil-rich nation. The national government of Nigeria runs and takes part in the petroleum industry of Nigeria through the NNPC corporation. Libya's NOC also owns a 36% stake in NNPC which is valued at $112 Billion. Bonny Light oil Bonny Light oil is a high grade of Nigerian crude oil with high API gravity (low specific gravity), produced in the Niger Delta basin and named after the prolific region around the city of
Nigerian Export Promotion Council Nigerian Export Promotion Council The Nigerian Export Promotion Council (NEPC) was established through the promulgation of the “Nigerian Export Promotion Council Decree No. 26 of 1976”, now an Act in line with the democratic governance of the Country. This Act was amended by Decree No. 72 of 1979 and further amended by the Nigerian Export Promotion Decree No. 41 of 1988 and complemented by the Export (Incentives and Miscellaneous Provisions) Decree No. 18 of 1986. Furthermore, the Nigerian Export Promotion Council (Amendment) Decree No. 64 and 65 of 1992 was promulgated to enhance the performance of the Council. The Council