Reveal Those Stealing Crude With Vessels, Elumelu Demands

Reveal Those Stealing Crude With Vessels, Elemulu Demands

Nigerian businessman Tony Elumelu has called on the government and security agencies to identify those responsible for the large-scale crude oil theft in Nigeria. In an interview with the Financial Times, Elumelu expressed his deep concern over the issue, which he believes has contributed significantly to the withdrawal of international oil companies from Nigeria. He … Read more

Nigeria’s Oil Revenue Dries Up And May Be So For Next 3 Years

Despite Brent-crude futures rallying in recent weeks, Nigeria is facing a fast-looming future without reliance on fiscal revenue from its massive oil wealth, Bloomberg reports. Amid the economic fallout from the COVID-19 pandemic, which has brought to a halt economic activity and travel, demand for crude has been crippled, resulting in a dramatic oversupply. Accordingly, … Read more