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September 2,2023. THE Organisation of Petroleum Exporting Country, OPEC, has identified Nigeria, a leading African oil producer, as the least refining member with an average equivalent of 10,600 barrels per day, bpd in five years. The nation refined an equivalent of 33,000 bpd, 8,000 bpd, 1,000 bpd, 5,000 bpd and 6,000 bpd in 2018, 2019, |
At petrol stations operated by independent marketers, pump price was hiked to between N315 and N370 per litre with the topmost price range recorded in other parts of the country outside Lagos and Abuja.
The downstream end of the Nigerian petroleum industry has gone into a frenzy as operators respond to the immediate removal
This is on the physical side of the oil market. On the financial side, we have been observing an accelerated trend in speculative trading, with investors and other players trading futures and options at faster rates, sometimes severely impacting market liquidity and hindering price discovery mechanisms.”
By Dayo Ayeyemi PERTURBED by the increase in fake adverts on radio and Television stations on real estate products, the Executive Director, Housing