Browsing: Nigerian oil and gas

In 2019, the oil and gas industry was responsible for around 5.8% of Nigeria’s real GDP, 95% of its foreign currency profits, and 80% of its budgetary income. www.theexchange.africa

There is still plenty to accomplish. Even after a year, the PIA is still in a transitional period, with committees deliberating its practical implications. One seasoned Nigerian expert questioned how much the NNPC would change due to its transition into a limited liability corporation. Still, post-PIA data suggests that Nigeria’s oil and gas industry may be moving in the right direction.…