Organisation of Petroleum Exporting Countries (OPEC) in their September Monthly Oil Market Report (MOMR) reveals that Nigeria’s actual crude oil production, excluding condensate, was only 1.2 million bpd, with an output of 233,531 bpd.
Africa’s most populous nation, flaunting its vast resources like gems in a treasure trove, while the market of consumers sways to the rhythm of progress. A mesmerizing tango, but one move stands out: the oil sector waltz. It’s the showstopper, a dazzling display that has historically showered Nigeria with riches. Yet, this captivating dance partner is fickle, swaying and stumbling to the global oil price rhythm, like a dancer on ice, prone to slips and slides.
