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 is the leading Federal Government Agency charged with the responsibility of promoting non-oil export in Nigeria to diversify away from oil and build a formidable economy. The Nigerian Export Promotion Council (NEPC) was established through the promulgation of the Nigerian [Export]] Promotion Council Decree No. 26 of 1976, and was formally implemented in March 1977. The act was [amended]] by Decree No. 72 of 1979 and further amended by the Nigerian Export Promotion Council Decree No. 41 of 1988. Appended to the law was the Export (Incentives and Miscellaneous Provisions) Decree No. 18 of 1986, as well as the Nigerian