Saturday, August 23, 2025
  • Who’sWho Africa AWARDS
  • About Time Africa Magazine
  • Contact Us
Time Africa Magazine
  • Home
  • Magazine
  • WHO’SWHO AWARDS
  • News
  • World News
    • US
    • UAE
    • Europe
    • UK
    • Israel-Hamas
    • Russia-Ukraine
  • Politics
  • Crime
  • Lifestyle
  • Sports
  • Column
  • Interviews
  • Special Report
No Result
View All Result
Time Africa Magazine
  • Home
  • Magazine
  • WHO’SWHO AWARDS
  • News
  • World News
    • US
    • UAE
    • Europe
    • UK
    • Israel-Hamas
    • Russia-Ukraine
  • Politics
  • Crime
  • Lifestyle
  • Sports
  • Column
  • Interviews
  • Special Report
No Result
View All Result
Time Africa Magazine
No Result
View All Result
  • Home
  • WHO’SWHO AWARDS
  • News
  • Magazine
  • World News

Home » News » OPEC: Nigeria’s crude oil output goes down again in March

OPEC: Nigeria’s crude oil output goes down again in March

April 21, 2024
in News
0
540
SHARES
4.5k
VIEWS
Share on FacebookShare on Twitter

The Organization of Petroleum Exporting Countries (OPEC) says Nigeria’s average daily crude oil production dropped again in March.

OPEC data based on direct communication show that Nigeria’s average daily production dropped to 1.2 million barrels, from 1.3 in February.

“The only sector we continue to depend on for revenues is collapsing right under our nose. How can you project a crude production of 1.7 million barrels a day and you are struggling to do 1.2 million barrels. How do you want to survive? That is over 30 percent of your expected revenue gone.”

Nigeria’s government targets a daily production of 1.7 million barrels, including condensate, in 2024. However, the nation still faces challenges including pipeline vandalism and theft.

Since Nigeria’s 2024 budget heavily depends on proceeds from crude sales, Isaac Botti calls for efforts to diversify sources of income.

ReadAlso

Enugu Ministry of Science and Tech Commences e-Government Capacity Building

Nigeria Deletes Nearly 59 Million Harmful Posts, Shuts 13 Million social media accounts

“Why do we abandon the manufacturing sector? Why did we abandon the agricultural sector, that used to be the economic mainstay of Nigeria in the 1950s, in the 1960s? Why did we abandon those things? We need to go back to those things.”

The Minister of state for Petroleum Resources, Heineken Lokpobiri, has attributed the low crude oil production in the first quarter of the year to issues with the Trans-Niger pipeline [Editor’s note: a major oil pipeline in the country] and maintenance activities by some oil companies. He assured a swift recovery.

ADVERTISEMENT
Tags: crude oilNigeriaOPEC
ADVERTISEMENT
Previous Post

World Bank’s new financing tools receive major funding boost

Next Post

58 people die after boat capsizes in Central Africa

You MayAlso Like

News

NYSC Member Shares Harrowing Experience with Anambra Vigilantes

August 22, 2025
News

Enugu Ministry of Science and Tech Commences e-Government Capacity Building

August 22, 2025
News

Snake species found capable of injecting venom even after death – with no loss of potency

August 22, 2025
News

NYSC Speaks On Assaulted Female Corps Member in Anambra

August 21, 2025
Judges are pictured in the courtroom during the trial of Bosco Ntaganda. Bas Czerwinski/Reuters
News

Trump expands sanctions against ICC over Israel, U.S. investigations

August 22, 2025
News

When Truth Fights Back: A Rebuttal to the False Allegations Against Delta State Polytechnic, Ogwashi Uku

August 21, 2025
Next Post
Witnesses said the passengers were headed to the funeral of a village chief when the tragedy happened

58 people die after boat capsizes in Central Africa

In this screen grab taken from video, Tunde Onakoya, 29- years old, a Nigerian chess champion and child education advocate, left, play a chess game in Times Square, New York, Thursday, April, 18, 2024.A Nigerian chess player and child education advocate is attempting to play chess nonstop for 58 hours in New York City's Times Square to break the global record for the longest chess marathon and raise $1m for the education of children across Africa. (AP Video/John Minchillo)

A Nigerian chess champion is trying to break the world record for the longest chess marathon

Discussion about this post

Brutalized female NYSC in Anambra —Dismissals make headlines. Convictions make justice

NYSC Member Shares Harrowing Experience with Anambra Vigilantes

Ibom Air: My side of the story, by Comfort Emmanson

PUBLIC ANNOUNCEMENT: The Resumed Impunity Of Violent And Unlawful Dispossession of Agidiasie People’s Ancestral Land Inheritance and Farmlands Under the Custodian of the Iyase Of Ogwashi-uku Kingdom By “HRH” Ifechkwude Okonjo

Stripped, Beaten, Accused: NYSC Corps Members Brutalized by Anambra Vigilantes

The Unexplained Professorship of Stella Ngozi Lemchi, Vice-Chancellor of Alvan Ikoku Federal University

  • British government apologizes to Peter Obi, as hired impostors, master manipulators on rampage abroad

    1240 shares
    Share 496 Tweet 310
  • Maids trafficked and sold to wealthy Saudis on black market

    1066 shares
    Share 426 Tweet 267
  • Flight Attendant Sees Late Husband On Plane

    971 shares
    Share 388 Tweet 243
  • ‘Céline Dion Dead 2023’: Singer killed By Internet Death Hoax

    903 shares
    Share 361 Tweet 226
  • Crisis echoes, fears grow in Amechi Awkunanaw in Enugu State

    735 shares
    Share 294 Tweet 184
  • Trending
  • Comments
  • Latest

British government apologizes to Peter Obi, as hired impostors, master manipulators on rampage abroad

April 13, 2023

Maids trafficked and sold to wealthy Saudis on black market

December 27, 2022
Flight Attendant Sees Late Husband On Plane

Flight Attendant Sees Late Husband On Plane

September 22, 2023
‘Céline Dion Dead 2023’: Singer killed By Internet Death Hoax

‘Céline Dion Dead 2023’: Singer killed By Internet Death Hoax

March 21, 2023
Chief Mrs Ebelechukwu, wife of Willie Obiano, former governor of Anambra state

NIGERIA: No, wife of Biafran warlord, Bianca Ojukwu lied – Ebele Obiano:

0

SOUTH AFRICA: TO LEAVE OR NOT TO LEAVE?

0
kelechi iheanacho

TOP SCORER: IHEANACHA

0
Goodluck Ebele Jonathan

WHAT CAN’TBE TAKEN AWAY FROM JONATHAN

0

NYSC Member Shares Harrowing Experience with Anambra Vigilantes

August 22, 2025

Enugu Ministry of Science and Tech Commences e-Government Capacity Building

August 22, 2025

Snake species found capable of injecting venom even after death – with no loss of potency

August 22, 2025

NYSC Speaks On Assaulted Female Corps Member in Anambra

August 21, 2025

ABOUT US

Time Africa Magazine

TIME AFRICA MAGAZINE is an African Magazine with a culture of excellence; a magazine without peer. Nearly a third of its readers hold advanced degrees and include novelists, … READ MORE >>

SECTIONS

  • Aviation
  • Column
  • Crime
  • Europe
  • Featured
  • Gallery
  • Health
  • Interviews
  • Israel-Hamas
  • Lifestyle
  • Magazine
  • Middle-East
  • News
  • Politics
  • Press Release
  • Russia-Ukraine
  • Science
  • Special Report
  • Sports
  • TV/Radio
  • UAE
  • UK
  • US
  • World News

Useful Links

  • AllAfrica
  • Channel Africa
  • El Khabar
  • The Guardian
  • Cairo Live
  • Le Republicain
  • Magazine: 9771144975608
  • Subscribe to TIME AFRICA biweekly news magazine

    Enjoy handpicked stories from around African continent,
    delivered anywhere in the world

    Subscribe

    • About Time Africa Magazine
    • Privacy Policy
    • Contact Us
    • WHO’SWHO AWARDS

    © 2025 Time Africa Magazine - All Right Reserved. Time Africa is a trademark of Times Associates, registered in the U.S, & Nigeria. Use of this site constitutes acceptance of our Terms of Service.

    No Result
    View All Result
    • WHO’SWHO AWARDS
    • Politics
    • Column
    • Interviews
    • Gallery
    • Lifestyle
    • Special Report
    • Sports
    • TV/Radio
    • Aviation
    • Health
    • Science
    • World News

    © 2025 Time Africa Magazine - All Right Reserved. Time Africa is a trademark of Times Associates, registered in the U.S, & Nigeria. Use of this site constitutes acceptance of our Terms of Service.

    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.