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Nigeria

Niger Delta the heart and soul of Nigerian Oil

The Minister of State for Niger Delta Affairs, Sen.
Omotayo Alasoadura, stated recently in Texas
while speaking on investment opportunities in
the Niger Delta Region: “The region contributes
over 80 per cent of the nation’s resources and
about 95 per cent of foreign exchange earnings."
This same region is home to three refineries, a
liquefied natural gas plant , a petrochemical
complex, a steel plant and an aluminum smel-
ting company and a large fertilizer company. Ni-
ger Delta hosts a number of oil-servicing compa-
nies and several oil majors are operating in the
area. It also has an Export Processing Zone and
an Oil and Gas Free Zone”. Niger Delta is also the
home of massive oil and gas deposits with ave-
View of niger delta
rage productivity of about 2.5 million barrels per
day. that Nigeria should diversify its economy and
The total recoverable reserves of oil and gas are promote private and public partnership.
estimated at about 34.5 billion barrels and 93.8 Networking efforts by its officials in order to
trillion cubic meters. All of this means only one stand a greater chance to attract investors should
thing: this region is extremely important in Nige- be a priority. It’s important to forge international
ria and Africa. The economic stability of the economic cooperation for investment in the Ni-
country largely driven by the O/G industry is lar- ger Delta, build institutional exchanges and pro-
gely based in this region. mote foreign direct investments.
However, it’s becoming more and more evident

Nigeria increased its oil production in November 2021
The latest monthly Reuters survey shows the Or-
ganization of Petroleum Exporting Countries
(OPEC) increased its oil production in Novem-
ber. In spite of that, the cartel produced less
crude than its share of the monthly increase.
Meanwhile, Nigeria increased its production.
Nigeria’s crude oil production has been chal-
lenged in recent months, with issues at the Qua
Iboe, Forcados, Erha, and Brass River terminals,
among others. Last month Shell Petroleum Deve-
lopment Company of Nigeria (SPDC) lifted force

Port Harcourt Nigeria majeure on crude exports from Bonny Light ter-
minal following repairs to a leaking pipeline.

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