How we created opportunities out of Year 2020 challenges NNPC
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The year 2020 is a year like no other. A year that threw up a health challenge which brought the whole world to its knees.
The coronavirus pandemic precipitated the lockdown of social and economic activities across the world, displacing the fortunes of many nations and businesses with the Oil and Gas Sector not being an exemption. 2020 is a year that brought West Texas Intermediate crude futures to below zero dollars. A calamity never seen before.
However, like the hot fire that produces the finest steel, the challenges that Covid-19 threw at humanity brought the ingenuity and astute management skills of the NNPC Group Managing Director and his team to the fore.
Nigeria: How We Created Opportunities Out of Year 2020 Challenges - NNPC allafrica.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from allafrica.com Daily Mail and Mail on Sunday newspapers.
By Edith Ike-Eboh
“In my salon and Spa, I spend on a daily basis, between N7,000 and N10,000, on petrol to keep my business running. It is tough but I am optimistic that one day power supply will improve in the country to help me grow my business,” says Mrs Victoria Justice, a Stylist and an entrepreneur in Kubwa, an outskirt town in the Federal Capital Territory, Abuja.
Justice is one among many young small business owners who battles to keep their businesses afloat because of the high cost of running their operations and activities, occasioned by poor electricity supply.
By Solomon Asowata
The year 2020 has undoubtedly been one of the most difficult years for the oil and gas industry globally in the last few decades.
It saw the Coronavirus pandemic grip nations across the globe, necessitating countries and states to lock down their borders for some time, thereby preventing movement of persons, goods and services for months unless under special circumstances.
This restriction of movement affected many sectors of the economy, but one of the worst hit was the oil and gas industry which fuels mobility of mankind and businesses across the globe.
With a sharp drop in air and land movement, the demand for Jet A1 (Aviation fuel) , Diesel and Premium Motor Spirit (PMS) also known as petrol declined drastically.
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