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Tags: Economy

How Nigeria Can Increase Gas Sector Prospects

How Nigeria Can Increase Gas Sector Prospects

The Deputy Managing Director of Nigeria LNG Limited (NLNG), Sadeeq Mai-Bornu, yesterday said the NLNG business model needs to be replicated in order to generate opportunities for the power and gas sectors in the country. He spoke at an executive roundtable discussion titled “Africa as an Emerging Gas Producer: Prospects and Opportunities” at the first… READ MORE

Nigerian economy in decline for more than a year

Nigerian economy in decline for more than a year

Lagos – Nigeria’s economy continued its slump and contracted for a fifth consecutive quarter in the three months to March after the oil industry shrank and agricultural expansion slowed. Gross domestic product (GDP) in Africa’s most-populous nation shrank 0.5 percent in the first quarter from a year earlier, compared with a revised 1.7 percent contraction… READ MORE

Nigeria lost N523 billion to gas-flaring in two years

Nigeria lost N523 billion to gas-flaring in two years

‘Local content policy attracts N1.8tr investment’ The Federal Government has lost N523 billion to gas-flaring between 2015 and 2016, data from the Department of Petroleum Resources (DPR) and Nigerian National Petroleum Corporation (NNPC) has shown. While DPR figures showed $850 million (N306 billion) loss to gas-flaring in 2015, NNPC latest report put losses to gas-flaring… READ MORE