Africa Covid19 

Post-COVID-19: Nigeria Needs to Design and Improve its Current Business Continuity Strategy – Abdullahi Haske

Abdullahi Bashir Haske is the founder and Chief Executive Officer of AA&R Investments, an indigenous oil exploration company. In this interview, he highlighted how the oil and Gas has faires and how it would survive and importance of creating an enabling environment for the non-oil sector to thrive. Excerpts: • How would you access the oil and gas industry in the heat of global crude oil prices crises? Normally when there is price crash of crude, investments in the oil and gas sector will be affected especially the capital projects.…

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Africa Oil and Gas 

Crude oil closes high, Nigeria to comply with output cut

Petroleum rates finished with a weekly gain of about 10% on Friday, as the sudden drop in U.S. production output of petroleum, together with OPEC output cuts, provides hope that the oil glut in the market will reduce significantly. International standard, Brent crude closed at $42.20 for a 9.5% weekly gain, after it opened on Monday at $38.80 a barrel. West Texas Intermediate (WTI) likewise completed the week on an excellent note, as it closed at $39.98 a barrel with an 11% weekly boost, after starting the week at $36.03…

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Africa Oil and Gas 

Nigeria now in full compliance with everyday oil output

The increasing cost of Nigeria’s debt profile breached a brand-new milestone with the country’s financial obligation service as a percentage of income rising to 99% in the first quarter of 2020. This is contained in the Medium-Term Expense Framework and Financial Technique (MTEF/FSP) report recently released by the Federal Ministry of Finance, Budget Plan, and National Planning A general review of the data acquired from the MTEF/FSP report shows that in Q1 2020, Nigeria sustained a total amount of N943.12 billion in debt service while the federal government retained income…

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Africa Covid19 Oil and Gas 

Nigeria: 2020 Budget – Senate Pegs Oil Price Benchmark At $28 Per Barrel

The Senate on Tuesday put the benchmark price for crude oil in the 2020 budget at $28 per barrel. The Senate also reduced the targeted daily oil production from 1.94 million as initially proposed to 1.8 million barrels per day. The red chamber also passed the Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) projections, upon which the revised 2020 budget would be based. These approvals were made after the chairman, Senate finance committee, Solomon Olamilekan (APC, Lagos), presented a report on the revised medium-term expenditure framework and…

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Africa Healthcare Oil and Gas 

Reps task FG on adequate preparation for post-oil economy in Nigeria

The House of Representatives on Tuesday admonished Federal Government on the need to direct its energy, resources and focus on how to diversify the economy from dependence on oil to avert the looming economic implosion. The resolution was passed sequel to the adoption of a motion sponsored by Hon. Abass Adigun who expressed optimism in Nigeria’s capacity to capture a substantial portion of the $48 billion expended yearly on food imports across Africa. In his lead debate, Hon. Adigun who harped on the need for the present administration to make…

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