Archives Tag: Crude Oil
What Do Negative Oil Prices Mean for Nigeria’s Economy?
April 19, 2022
On Monday, April 20th, the world watched history unfold with dropped jaws: crude oil sold for below $0. If this doesn’t make sense to you, you’re not alone. Not many people understand how a thing could sell for minus $40, as a barrel of crude did at some point during the day. In practical terms, … Continue reading What Do Negative Oil Prices Mean for Nigeria’s Economy?
How The Fall In Oil Prices Could Impact Nigeria’s Economy
April 19, 2022
Nigerians have rarely gotten starker reminders of their connection with the rest of the world than they have in the past couple of months. A global pandemic originating in far off China has swept across the globe, enveloping a majority of the countries on the planet, and inflicting tragedies in its wake. It’s finally arrived … Continue reading How The Fall In Oil Prices Could Impact Nigeria’s Economy
Family Businesses in Nigeria: Yinka Folawiyo Group
April 19, 2022
The Yinka Folawiyo Group is one of Nigeria’s long-lived conglomerates. Known for its involvement in the energy sector, it has operated in diverse industries for over fifty years. It owes its longevity to its ability to move with the predominant interests of the time, in line with the evolution of the local economy. Younger Nigerians … Continue reading Family Businesses in Nigeria: Yinka Folawiyo Group
ThrowBack Thursday: Ogoni 9 and the Gallows of the Abacha Junta
April 19, 2022
On November 10, 1995, nine leaders of the Movement for the Survival of the Ogoni People (MOSOP), Ken Saro-Wiwa, Saturday Dobee, Nordu Eawo, Daniel Gbooko, Paul Levera, Felix Nuate, Baribor Bera, Barinem Kiobel, and John Kpuine were summarily executed based on trumped up charges of murder. Led by Ken Saro-Wiwa, the movement had been a … Continue reading ThrowBack Thursday: Ogoni 9 and the Gallows of the Abacha Junta
By adedoyin
African Sustainable SME Export Trade Solutions Presents: ‘All Hands On Deck’
April 19, 2022
There is a growing consensus that the best way for Nigeria to make a rapid transition from constantly hovering on the brink of recession, to achieving sustainable, inclusive economic growth, which is not dependent on a rise in crude oil prices, is by taking advantage of the weak naira and developing the non-oil export sector. … Continue reading African Sustainable SME Export Trade Solutions Presents: ‘All Hands On Deck’
Weaning Nigeria Off Oil: Are We Moving Quickly Enough?
April 19, 2022
In January, Nigeria’s main foreign exchange earner got more expensive than it’s been in a long while, and government officials were rubbing their palms in glee. It was fantastic news after all; crude oil- or more specifically, the Bonny light crude, which Nigeria produces, hit the $70 per barrel mark, raising hopes that the Federal … Continue reading Weaning Nigeria Off Oil: Are We Moving Quickly Enough?
Lagos to Commence Export of Crude Oil in August
April 19, 2022
After many years of anticipation, it seems that Lagos State may finally join the league of states from which crude oil is exported. This achievement could be recorded as early as August if reports coming from the operators of the facility at the Aje oil field are anything to go by. The Aje oil field, … Continue reading Lagos to Commence Export of Crude Oil in August
NNPC Earns $20.9 Billion from Crude Oil Sales in 2013
April 19, 2022
The Nigerian National Petroleum Corporation (NNPC) has put its 2013 revenue from oil sales for Year to Date, at $20,907,063,959.35 from 191,939,235 barrels of crude oil sold. NNPC did in a presentation to the Committee of Petroleum (Upstream) of the House of Representatives on Thursdays. According to NNPC, “In January, it sold 37,675,591.00 barrels of … Continue reading NNPC Earns $20.9 Billion from Crude Oil Sales in 2013
By sheyi
The Handwriting on the Wall: A Curious Case of Diversifying Nigeria’s Economy Now!
April 19, 2022
Moving with trends is a necessity in this fast paced global village we live in. In some parts of the world, libraries are being shut partly because of the obsolescence of print and then, the clamour to ‘go green’. The email has made the once stoic ambience of the post office a matter of nostalgia. … Continue reading The Handwriting on the Wall: A Curious Case of Diversifying Nigeria’s Economy Now!
By nehijesu
Discover Nigeria: A Boom That Brought Poverty
April 19, 2022
Right after the civil war, oil boomed. Nigeria’s exports from crude oil had burgeoned almost fifteen times in size from the early days of crude exportation in the 1960s. The meteoric rise of Germany and Japan had put a lot of demand on oil, shooting its price to astronomic levels. Coupled with the embargo on … Continue reading Discover Nigeria: A Boom That Brought Poverty
By nehijesu
