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ANALYSIS: How Nigeria s overdependence on oil revenue increases its debt profile
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The monies were given for oil and gas supply, Dataphyte found.
Oil sales are Nigeria’s largest revenue source, and revenue shortages due to defrayed costs could cause a severe financial burden, including an increase in borrowings. This was evident in the corporation’s financial account, with the posting of a loss of ₦16.3 billion in
2019 while the overall Group reported a ₦20.2 billion loss. In 10 years, it reported a
combined loss of ₦474 billion and ₦1.55 trillion, respectively.
NAPIMS and Kaduna refinery owe the bulk of unpaid bills
A breakdown of the credit sales showed that the loss-making Kaduna refinery and National Petroleum Investment Management Services (NAPIMS), a subsidiary managing the Nigerian government’s investments in the upstream sector, owed NNPC in unpaid bills to the tune of ₦470.08 billion and ₦534.8 billion, respectively.
PTCIJ commences oil and gas fellowship
The three-month fellowship kick-started after a three-day virtual training for select journalists in Nigeria
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The Premium Times Centre for Investigative Journalism (PTCIJ), through its Natural Resources and Extractives Programme (NAREP), last week began its flagship fellowship on oil and gas reporting.
The three-month fellowship kick-started after a three-day virtual training for select journalists in Nigeria to improve reporting of the natural resources sector, which held from March 2 to 4.
The centre said it received 1,429 applications from journalists and non-journalists across Nigeria from whom 17 journalists were shortlisted, and thereafter cut down to nine after interviews by an internal panel.
Two
Nigerian Tribune journalists, Adetola Bademosi, Justice Nwafor and seven others from different media houses across the country have been selected for the Premium Times Centre for Investigative Journalism (PTCIJ) Natural Resources and Extractives Programme (NAREP) Oil and Gas Media Fellowship.
The organisation said out of the 1,429 applications it received from journalists and non-journalists across the country, 17 journalists were shortlisted from which nine participants were finally selected from across eight media organisations following interviews by an internal selection committee.
Selected journalists underwent a three-day intensive training between March 2 and 4, 2021 which introduced them to the oil and gas sector.
The participants were trained by experts on a range of issues including to revenue management and distribution in the oil and gas sector, the impact of the management of oil and gas on the quality of life of Nigerians, laws and regulations in the oil and ga
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