Analysis of the report showed that since the second quarter of the 2014 fiscal year, the petroleum sector had been recording steady decline in output. Between the first and second quarters of 2014, the sector witnessed an increase in output from N2.61tn to N2.63tn.
Browsing: Oil price slump
The two major unions, NUPENG and PENGASSAN, held a brief strike two weeks ago after the Federal government announced plans to split the NNPC into separate units, part of reforms by President Buhari to end graft and mismanagement in the industry.
A more than 60 percent drop in global oil prices since 2014 has hammered Nigeria’s economy and triggered a currency crisis, leaving it short of funds to pay for imports of oil products.
02 March 2016, Lagos – The insurance industry is becoming the latest casualty of the oil price slump, with postponements and…
*Praises efforts to create more transparency in NNPC Oscarline Onwuemenyi 08 January 2016, Sweetcrude, Abuja — The Managing Director of…
01 September 2015, Lagos – The Organisation of Petroleum Exporting Countries has finally surrendered to market pressure, expressing its willingness to…
25 May 2015, Abuja – The Chairman, Pension Fund Operators Association of Nigeria, Mr. Misbahu Yola, has said the drop in…
23 March 2015, Lagos – To say that the global economic environment is fraught with uncertainties would be stating the obvious.…
12 January 2015, Abuja – Contrary to the claims by the Nigerian National Petroleum Corporation (NNPC) that the implementation of the…
10 February 2015, Abuja – Analysts at ARM Research have projected that the slump in the prices of crude oil…