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It monitors the oil and gas industry to ensure compliance with relevant regulations and laws. [1] It also oversees the safety and other regulations that relate to the exportation and importation of the products into the country. [2] As part of its activities, the department manages the upstream and downstream sectors in Nigeria petroleum ...
According to the Nigerian constitution, all minerals, gas, and oil the country possesses are legally the property of the Nigerian Federal Government. The revenue gained by the NNPC accounts for 76% of federal government revenue [16] and 40% of the entire country's GDP. As of 2000, oil and gas exports account for 98% of Nigerian export earnings ...
In 1971, the Nigerian National Oil Corporation (NNOC) was created to handle direct commercial operational activities in the oil industry on behalf of the Federal Government. [4] However, the Department of Petroleum Resources in the Federal Ministry of Mines and Power continued to exercise statutory supervision and control of the industry. In ...
Nigeria Communications Satellite Limited (NIGCOMSAT) [1] Nigerian Broadcasting Commission (NBC) Nigerian Communications Commission (NCC) Nigerian Postal Service (NIPOST) National Frequency Management Council; Nigerian Television Authority (NTA) Galaxy Backbone (GBB) [2]
As of 2019, Nigeria produced a form of oil ideal for the United States, had huge reserves, and increased its production to 2.8 million barrels (450,000 m 3) of oil a day. [55] At the same time this has been described as a resource curse hurting Nigeria and disadvantaging her people.
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Diezani K. Agama (born 6 December 1960) is a Nigerian politician who was the first female President of OPEC. [4] She became Nigeria's minister of transportation on 26 July 2007. [5] She was moved to Mines and Steel Development in 2008, [6] and in April 2010 was appointed as the first female Minister of Petroleum Resources in Nigeria. [7]
Kola Aluko (born 20 October 1969), is a Nigerian businessman with interests in African infrastructure development and aviation. Formerly based in Nigeria, Aluko was the Co-Chief Officer and executive director of Atlantic Energy, an indigenous, private upstream oil and gas company, focused on independent exploration and production in Nigeria.