Nigeria: Despite Covid-19 Challenges, Nigeria s Petroleum Industry Made Progress in 2020 allafrica.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from allafrica.com Daily Mail and Mail on Sunday newspapers.
Despite Covid-19 challenges, Nigeria’s petroleum industry made progress in 2020
The Covid-19 pandemic and other economic challenges did not distract the petroleum resources ministry from its reform agenda 12 min read
When President Muhammadu Buhari appointed Timipre Sylva, a former governor of Bayelsa State, as Minister of State for Petroleum Resources in late 2019, the country’s petroleum industry was in a deplorable state.
Daily oil production had fallen from 2.3 million barrels projected in the year’s budget to about 1.81 million barrels and high production cost was a serious headache. Also, a global economic downturn was making investment decisions on new projects difficult.