Nigeria’s Oil Industry Faces An Existential Risk

Nigeria risks disruption in oil and gas supplies and power generation, due to declining exploration activity and depleting oil reserves, the Nigerian Association of Petroleum Explorationists (NAPE) has warned. Inefficient contract and procurement awarding process, oil theft, and illegal refining are the key obstacles to Nigeria’s oil and gas industry, Ajibola Oyebamiji, president of NAPE, said at a press conference, as carried by news outlet This Day. Oil theft and illegal refining are larger threats to Nigeria’s oil industry than a…