HARDS TIMES AND TIME TO UNDERSTAND WITH LEADERS

Before the exit of former President Jonathan, the price of crude oil, Nigeria’s economic pillar was USD36 per barrel and even at that, the country was finding it difficult to sell its crude oil to the global market because of a glut mainly from overproduction by Saudi Arabia, a nation of about 12million people producing […]

Non-oil income generating product

Cashew, botanically known as ANACARDIUM OCCIDENTALE, was introduced to Nigeria by Portuguese explorers but quickly became popular in 1950s when it was commercially planted in the eastern regions of Oghe, Oji and Mbala and also in the western regions of Iwo, Eruwa and Upper Ogun by the defunct Eastern Nigeria Development Corporation (ENDC) and Western […]

COVID-19 and the People: Rethinking the Focus of Nigerian Laws and Policies

As the spread of COVID-19 continues across Nigerian states, and preventive lockdown measure heightens, the dreadful challenge again presents a case to rethink, re-evaluate and assess how effective the Nigerian laws, policies and frameworks are to effectively cater for her teeming population in this trying time, and in the future.  As at today, Nigeria’s crude […]

Buhari, now is time to slash salaries, allowances of political officers by 70%

Nigeria is an impoverished country. In fact, the country has never been rich – in the economic sense of the word. The assumptions of wealth have always been hyphenated to the abundance of crude oil and other natural resources. But these alone do not make the country rich. As a matter of fact, the exploitation […]

Coronavirus: Oil price hits lowest in 21 years

As coronavirus pandemic continues to spread its wing across the globe and oppressing global market, price of oil plunged to a 21-year low this week. The commodity’s latest round of sharp selling comes as uncertainty mounts around storage for excess oil. Demand for crude has plummeted since the coronavirus outbreak has halted tradings. WTI crude […]

By 2023, Asia, Middle-East Will Contribute 30% Of Global New Crude Oil Trunk Pipeline, GlobalData Says

A leading data and analytics company, GlobalData, says Asia and the Middle East are expected to collectively contribute about 30% of the global new-build crude oil trunk/transmission pipeline length additions by 2023 GlobalData has a proven track record in helping thousands of companies, government organizations, and industry professionals profit from faster, more informed decisions. Its […]

Nigeria’s oil output rises to three year high

Nigeria’s economic growth rose to an annual rate of 2.28% in the three months to the end of September after the production of its main export commodity, crude oil, rose to a more than three year high, the statistics office said on Friday. The economy, Africa’s largest, expanded by 0.17% in the previous quarter and […]

Crude Oil in the North

The discovery of hydrocarbon deposist (crude oil) in the kolmani river 11 well on the upper Benue, through gongola basin, in north east is a cheering news and welcome development. The discovery would not have become posible without the support of president Muhammadu Buhari and the strong commitment of the erstwhile group managing director of […]

Nigeria begins talks with major oil firms over oil revenue dispute

The Nigerian government and international oil companies are trying to find a common ground on a dispute over oil revenues. Citing a 2018 Supreme Court decision, the government says it is entitled to $62 billion from companies after they failed to comply with a 1993 law that gives the state a larger share of revenues […]

US Emerges World’s Top Crude Oil Producer

The United States is now the world’s largest crude oil producer, pushing Russia and Saudi Arabia to the back seat.   The US crude production hit a whopping 11.6 million barrel per day, according to Energy Information Administration (EIA) data released on Wednesday.   That’s a threefold increase from the US low reached a decade […]