Friday, September 22, 2023

Video - Experts wary of oil fortunes in Nigeria after August boom

In August, Nigeria’s earnings from the export of crude oil grew by 188.7 billion naira (245 million U.S. dollars) due to an increase in the production of the commodity by foreign and domestic players. This financial windfall rode on the back of an increase in global oil prices. But experts worry the joy in the industry may be short-lived due to subpar crude production and the government’s huge spending.


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