Host Communities Of Nigeria Producing Oil And Gas
Nigeria's economy was dealt a huge blow as Brent crude, international and Nigeria’s benchmark, tumbled by nearly $12 per barrel to decline at $19.71 per barrel.
Farashin gangar danyen main a kasar Amurka ya yi saukan da bai taba yi ba a shekara 22 a ranar Litinin inda ya karye da kashi 40 zuwa dala 11 sakamakon annobar
The Nigerian government says it has cut down drastically on its daily production of crude oil following the crash of the commodity's price on the global market.
Amid fear of global recession following the fall in the price of petroleum, Mele Kyari, Nigerian National Petroleum Corporation (NNPC)'s general managing director, has warned of beckoning tough times.
Femi Gbajabiamila says Nigeria loses 400,000 barrels of crude daily. The lawmaker made the disclosure during a public hearing on oil theft on Tuesday, March 10.
The collapse of a long-time alliance between two of the world's oil-rich nations, Saudi Arabia and Russia has lead to a crash in oil prices. Since 2016, both countries have worked together to control output and support prices.