adsNigeria pumps below potential as world scrambles for oil
Nigeria is struggling to benefit from the global oil supply crisis caused by the prolonged closure of the Strait of Hormuz, which has disrupted over 11 million barrels of oil supply daily and driven crude prices sharply higher. Despite being a major Organization of the Petroleum Exporting Countries producer with premium crude grades, Nigeria continues to face production challenges linked to oil theft, pipeline vandalism, and weak infrastructure, limiting its ability to fill the global supply gap.
Energy analysts at Wood Mackenzie warn that prolonged disruption could push oil prices close to $200 per barrel, while accelerating the global shift away from fossil fuels. Although the Nigerian National Petroleum Company Limited has stepped up efforts to boost output and attract investment, experts say Nigeria risks missing a rare economic opportunity if it fails to rapidly improve production and supply reliability.
NDIC bolsters deposit fund buffers to shield banks from crises
https://businessday.ng/news/article/ndic-bolsters-deposit-fund-buffers-to-shield-banks-from-crises/adsads
