Nigeria
Nigeria clears $18.2bn in oil and gas field development plans to lift output
The $18.2bn worth of approvals mark among the largest investment commitments in Nigeria's O&G sector since the 2021 Petroleum Industry Act (PIA) was adopted, underpinning the target to raise crude capacity above 3mn bpd.
Nigerian president advances oil bill placing NNPCL under control of Finance Ministry, upstream regulator
President Bola Tinubu has endorsed a bill that would undermine the "independence" of NNPCL, shifting ownership to the Finance Ministry and handing new powers to upstream regulator NUPRC.
Extreme poverty falling steadily – OWID
To track progress towards ending extreme poverty, the United Nations relies on World Bank estimates of the number of people living below a poverty threshold called the “International Poverty Line” (IPL), Our World in Data (OWID) reports.
Oil majors face $4.4bn in liabilities under Nigeria's tightened decommissioning rules, says NUPRC chief
Nigeria’s upstream regulator has cleared 94 oilfield decommissioning plans worth $4.42bn since April 2023, arising from all FDPs submitted in that period, the NUPRC chief said, underscoring tightened rules to safeguard state finances.
Nigeria targets 32% rise in daily gas output by 2030, minister says
Nigeria aims to produce 10bn standard cubic feet of gas per day (BSCFD) by 2030, Finance Minister Wale Edun confirmed during a meeting with Nigeria LNG (NLNG) executives in Abuja to discuss related investment, reform and supply challenges.