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Monthly, Nigeria loses $1.9B to Oil Theft

Monthly, Nigeria loses $1.9B to Oil Theft

Monthly, Nigeria loses $1.9B to Oil Theft

The terrifying and shameful disclosure by Mr. Mele Kyari, the Group Chief Executive Officer (GCEO), Nigerian National Petroleum Corporation (NNPC) Limited, that Nigeria loses a stunning amount of $1.9 billion month to month to unrefined petroleum burglary puts a ton of question marks on how the oil-subordinate economy is being controlled. Kyari communicated his anxiety

‘New NNPC’ Unveils by the Govt

President Muhammadu Buhari on Tuesday disclosed the new Nigerian National Petroleum Company Limited, a milestone occasion that formally replaces the oil firm from a completely state-run substance to a business oil organization, restricted by shares. The NNPC Limited is supposed to be overseen as a confidential energy venture dissimilar to the previous defilement ridden government

Nigeria Contributes 4% of $70B Oil & Gas Inflow into Africa – Sylva.

Africa’s biggest Crude Oil maker, Nigeria just got 4% of the $70 billion venture inflows into Africa between 2015 – 2019, as per KPMG. This was uncovered by Timipre Sylva, Nigeria’s Minister of State of Petroleum at the divulging of the new NNPC Ltd. on Tuesday in Abuja, the Federal Capital Territory. Sylva portrayed the

Africa: Energy Future

Oil and Gas resources play a critical role in Africa’s growth and economic stability. Africa’s proven fossil fuel reserves are estimated at more than $15.2tn, with Libya and Nigeria having the highest Oil proven reserves based on the 2021 energy review and market value. However, the global energy transition puts this crucial income source for the continent at risk. It