“Worst hit are filling stations whose owners find it extremely difficult to secure funds to procure products for their retail outlets and both the independent and major marketers are so terribly affected that as at today, filling stations are shutting down in great numbers on a daily basis and dealers are going out of business with many more on the verge of bankruptcy because of their inability to secure funds to facilitate orders for their stations.
Nigeria's crude oil exports surged, adding N188.7 billion to revenue in August 2023. Oil production increased by 2,853,358 barrels in August compared to July, according to OPEC data. Despite the August boost, Nigeria's oil output has been fluctuating, raising concerns among industry experts. In August 2023, Nigeria's earnings from the export of crude oil (excluding |
The rise in the cost of crude oil, coupled with the depreciation of the naira against the United States dollar, might lead to a hike in the pump price of Premium Motor Spirit, popularly called petrol, oil marketers stated on Sunday.
In August 2023, Nigeria experienced a boost in its oil revenue, with a notable increase of N188.7 billion. This surge was attributed to a modest rise in crude oil production, involving both international and domestic operators in the industry. Data collected from the Nigerian Upstream Petroleum Regulatory Commission and the Organisation of Petroleum Exporting Countries |