«Problems of economics and management of oil and gas complex»

Currant problems of Nigeria oil Industry development

UDC: [308+330.3]:621.039
DOI: 10.33285/1999-6942-2022-12(216)-46-53

Authors:

¹ National University of Oil and Gas "Gubkin University", Moscow, Russia

Keywords: Nigerian oil industry, national oil company, upstream, pipeline vandalism, downstream, oil refining, fuel subsidies, Nigerian economy, inflation

Annotation:

The article analyzes the economic, technical and social problems of Nigeria oil industry development as well as the operations safety of the industry's production facilities. Since the end of 2021, the Nigerian oil industry has been experiencing serious problems. Production in Nigeria has drastically fallen and the country has lost its status as the largest oil producer on the African continent. The article examines the reasons of oil refineries closure in Nigeria as well as the deteriorating situation in the domestic fuel market as well as the urgent measures that should be taken by the Nigeria government to prevent crises in the country's oil industry and maintain its status as a reliable supplier of energy resources.

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