Falling Oil Price: A Challenge For Nigeria To Look Inwards – Lawan
A file photo of the Senate President, Ahmad Lawan, during plenary at the upper chamber of the National Assembly in Abuja.President of the Senate, Ahmad Lawan on Wednesday said the global falling price of crude oil should be a challenge for Nigeria to devise other means of growing the nation’s economy.
“This is the time for us to come up with strategies that will not make us to go back on our reliance on oil even if the price improves. The Senate President who debunked the notion that Nigeria is rich because of its oil-producing status said with the crude oil cost of production of US$30 per barrel, the nation realised only $5 per barrel if it is sold at $35.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Reps raise c’ttee to assess coronavirus impact on oil price – Daily TrustThe House of Representatives yesterday set up an ad-hoc committee to look into the continuous impact of the coronavirus on the global crude oil price. This was sequel to a motion of urgent public importance moved by James Falake (APC, Lagos) who said the fall in the global oil price should be urgently looked into …
Read more »
Declining oil price, COVID-19 outbreak to affect Nigeria’s capital market – SECThe Acting Director-General of the Securities and Exchange Commission (SEC), Mary Uduk, says the global decline in oil prices and outbreak of coronavirus.
Read more »
Oil Price Crash: Prepare for tough times,' NNPC tells NigeriansNigerians should buckle up and prepare for real tough times in at least the next three months, the GMD of the NNPC, Mele Kyari, warned on Wednesday.
Read more »
Saudi, UAE open oil taps as they wage price warOil heavyweights Saudi Arabia and the UAE vowed Wednesday to pump millions more barrels of crude as they stepped up a price war after Russia refused a deal to cut output.
Read more »
COVID 19: 50 Nigeria’s crude oil cargoes strandedNot less than 50 cargoes of crude oil from Nigeria have not found landing owing to the outbreak of Coronavirus, officially names COVID 19...
Read more »
Crude oil crash: prepare for tough times - NNPCThe Nigerian National Petroleum Corporation (NNPC) has warned Nigerians to prepare for more trouble ahead following the crash in the price...
Read more »