small sesame oil refinery in lagos

                                               
                                               
                                               
                                               
                                               
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  • How can oil refineries help Nigeria?
  • The refineries can help Nigeria stop spending its scarce foreign exchange on buying fuel from abroad and support other ¡°auxiliary businesses,¡± according to Oyarekhua, an oil product trader by background. ¡°I¡¯ve seen the inefficiency in that system of importing product.¡± ¡ªWith assistance from Gina Turner.
  • Why has oil production dropped in the Niger Delta?
  • The NNPC has been stressing oil theft as the number one reason why production has dropped. It says in just one week - from 28 September to 4 October - there were 161 incidents of oil theft across the Niger Delta and 45 illegal refineries were "discovered".
  • Does Nigeria's state-owned oil firm pay $16bn in oil revenues?
  • It has always been impossible to follow the money, but you know there is something dreadfully wrong when the headline "Nigeria¡¯s state-owned oil firm fails to pay $16bn in oil revenues", pops up on your news feed, as it did in 2016.
  • Does Nigeria have a shady oil industry?
  • For much of the time since oil was first discovered in Nigeria in 1956, the downstream sector, which includes the stage when crude is refined into petrol and other products, has been a cesspit of shady deals with successive governments heavily involved.
  • How did the Nigerian oil industry get its money back?
  • Every year it clawed this money back by depositing lower royalty payments - the money it received for every barrel pumped out of the ground - with the Nigerian treasury. In 2022 the subsidy cost the government $10bn, more than 40% of the total money it collected in taxes.
  • Could a new refinery Help Africa's biggest economy off foreign fuel?
  • (Bloomberg) ¡ª On a river bank deep in the Niger Delta a local contractor is building one of a growing number of mini refineries that the Nigerian government hopes will finally help wean Africa¡¯s biggest economy off foreign fuel.