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East Africa: 'Nigeria No Longer Preferred for Oil Exploration'
Guardian, 13 November 2014
Nigeria is no longer the preferred destination for oil exploration in Africa, the Managing Director\Chief Executive, Total Upstream Company in Nigeria, Elisabeth Proust, has said. Read more »
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Nigeria: Falling Crude Oil Prices and Nigeria's Response
Guardian, 3 November 2014
THERE is understandable concern in the country about the drop in crude oil prices over the last several weeks. From a figure of $104 per barrel on August 1, 2014, the OPEC basket… Read more »
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Nigeria: Govt Allays Fear Over Fall in Oil Price
Guardian, 29 October 2014
NIGERIANS need not worry about the economy over the fall in oil price as the Federal Government has other sources of revenues, according to an official. Read more »
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Nigeria: Nigeria Unprepared for Falling Oil Prices - Experts
Leadership, 30 October 2014
A cross section of financial and economic experts have said that Nigeria is unprepared to contain the impact of falling oil prices. Read more »
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Nigeria: Dwindling Oil Price - Senate Committee Returns MTEF to Executive
This Day, 30 October 2014
Convinced that the $78 per barrel oil benchmark proposed by the executive for the 2015 budget is unrealistic in view of the dwindling oil price on the international market, the… Read more »
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Nigeria: Fall in Oil Price, Blessing for Nigeria, Says National Planning Minister
Vanguard, 30 October 2014
Minister of National Planning, Dr. Abubakar Sulaiman, has described the fall in the international price of oil as a blessing in disguise for Nigeria, assuring that the development… Read more »
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Nigeria: Fall in Oil Price, Blessing in Disguise - NPC Minister
Independent (Lagos), 29 October 2014
Minister National Planning/Deputy Chairman, National Planning Commission, Dr. Abubakar Sulaiman, has described the current fall in the price of crude oil in the international… Read more »
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Nigeria: External Reserves Hit By Falling Crude Oil Prices
This Day, 29 October 2014
The accretion of Nigeria's external reserves has been affected by the slide in crude oil prices. Read more »
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Nigeria: Nigeria's N13.4 Trillion 2014 Oil Earning at Risk Over Price Decline
Guardian, 27 October 2014
THE Federal Government is at risk of losing part of its 2014 crude oil earnings of over $84 billion (N13.4 trillion) to the continuous decline in the prices of crude oil. Read more »
Oil Price Drop Deepens Nigeria Economy Concerns
Falling international oil prices are eroding Nigeria's external reserves, according to figures from the Central Bank of Nigeria. The country's Independent Petroleum Marketers Association said local refining of the nation's crude remained the only way to stem the effects of declining crude oil prices on the Nigerian economy. And Senator Bukola Saraki, who chairs the Senate Committee on the Environment and is a leader of the opposition APC, called on government to mitigate the impact.
Decline in the global price of oil is eroding Nigeria's external reserves and increasing pressure on the country's currency.
InFocus
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Ngozi Okonjo-Iweala, the Minister of Finance, has assured the country that the economy is growing positively despite the reduction of the oil price in international markets. Read more »
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Nigeria, until recently the fifth largest exporter of crude oil to the United States, did not export a single barrel of crude to U.S.-based refiners in July for the first time ... Read more »
