Modern-day Nigeria has been the site of numerous kingdoms and tribal states over the millennia. The modern state originated from British colonial rule beginning in the 19th century, and the merging of the Southern Nigeria Protectorate and Northern Nigeria Protectorate in 1914. The British set up administrative and legal structures whilst practising indirect rule through traditional chiefdoms. Nigeria became a formally independent federation in 1960, and plunged into a civil war from 1967 to 1970. It has since alternated between democratically-elected civilian governments and military dictatorships, until it achieved a stable democracy in 1999, with its 2011 presidential elections being viewed as the first to be conducted reasonably freely and fairly.
Today, that fund is over $1trillion but Nigeria’s revised PIB has no provision that will ensure oil funds are accumulated ... It is so clear to see that Nigeria is not paying attention to what is happening around the world ... In the past couple of years, we have seen more international oil companies move offshore which is a sign of discouragement.
The project is an ExxonMobil Nigeria scheme to upgrade offshore and onshore facilities. The contract involves mobile Producing Nigeria, a subsidiary of ExxonMobil, as well as Suffolk Petroleum Services Limited, Saipem Contracting Nigeria, GlobalOffshore Limited and Van Ord, the EFCC added.
There were 11 land rigs, 1 swamp, 5 shallow offshore, and 8 deep offshore. Indeed, latest information on rig operations in Nigeria from OPEC shows there were only 17 rigs in 2019 as against 32 recorded in 2018, a decline of 46 percent. The decline in rig operations means it would be difficult for Nigeria to increase its oil reserve.
International energy companies working in Nigeria are worried that proposals in the country’s long-delayed oil industry law will deter investment in new offshore projects. At least half of Nigeria’s total crude output is from offshore oilfields, helping to offset ...
Buhari, a former army general first elected in 2015, came to power promising to tackle Nigeria’s security problems ... Armed gangs have surged through Nigeria’s northwest and kidnappers patrol many of the country’s roads. In the Gulf of Guinea, where Nigeria’s offshore oil wealth is concentrated, piracy is on the rise.
A recent beach coconut grove reforestation initiative immediately west of the Fidjerossé roundabout has enhanced overall beauty ... Read Also. Lagos ... Roughly halfway to Ouidah, a discrete sign and cleared swathe of land indicates the point at which the offshore natural gas pipeline from Nigeria comes onshore to feed the new power plant inland at Calavi ... .
The nation’s insurance industry is beginning to lose the benefits of the country’s local content policy on the domestication of business, as many big-ticket risks are finding their way offshore through reinsurance. The FederalGovernmentNigeriaContent...