14 August 2016, Abuja – President Muhammadu Buhari yesterday said the crash in world oil prices has suddenly made Nigeria poor,…
Browsing: Lake Chad Basin
President Buhari said the sudden fall in oil price in the international market has made Nigeria to become a poor country.
He therefore advocated the use of modular refineries in Nigeria because they can be built within a short time and can adequately take care of the country’s local consumption demand.
Investors in the nation’s oil and gas sector have commended the government’s initiative, saying the northern region of Nigeria has about 2.3 billion barrels of oil and about 14.65 trillion standard cubic feet of natural gas in the Chad Basin.
24 March 2016, Lagos – The United States Agency for International Development (USAID) has committed $200 million (about N40 billion) for…
President Buhari disclosed that, as part of strategies to reposition the Nigerian oil and gas industry, his government had commenced the process of implementing carefully conceived initiatives which would see the country hitting a production target of 2.8 million barrels per day (bpd) of crude oil.
