• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Sunday, July 6, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Natural Resources

Nigerians happy over rising price of crude oil

Oil

The Matters Press by The Matters Press
January 19, 2022
Reading Time: 1 min read
0
Kenya hits the globe for oil investment

Oil

Oil

Nigerians should ordinarily be rejoicing over the rising prices of crude oil in the international market.

RELATED POSTS

Atiku’s mockery of Nigeria over Trump’s invitation to 5 African nation, a display of poor knowledge of global affairs

Nigeria’s new flood insurance policy laudable, needs quick application, says TMSG

Nigeria’s approval of dual NCE, B.Ed degrees in 15 colleges of education a good omen

However, it would be stating the obvious to say that the country is not feeling the impact of the positive development. Emmanuel Addeh writes that this could perhaps be traced to wrong-headed policy decisions and neglect of a few major fundamentals.

Although, the issues bedevilling the petroleum sector in Nigeria are not recent, what is different with the current situation is that it is far worse than what obtained in the past.

In the real sense of it, Nigeria has never really benefitted optimally from the production of its oil and gas resources, in part, due to its non-domestication of the proceeds of its resources, leading to a haemorrhage of the sector.

But with the dynamics currently playing out, industry watchers believe that even at $100, getting a massively positive economic impact from the country’s most prized natural resource could be an uphill task.

While in the past, even ordinary Nigerians without much knowledge of how the economy works would heave a sigh of relief once the prices of oil start rising in the international market, many are now lost as to why there has been hardly any impact, despite the commodity rising from a low of $10 in 2020 to a high of $85 in 2021 and 2022.

In addition, Nigeria continues to borrow massively in spite of what ordinarily should be a boom period for the economy and for foreign exchange inflow.

Tags: Oil
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Drop your frustration, let President Tinubu be, Group picks on Atiku
Economy/Technology

Atiku’s mockery of Nigeria over Trump’s invitation to 5 African nation, a display of poor knowledge of global affairs

July 5, 2025
Veritas Kapital’s total assets hit N21.4bn
Economy/Technology

Nigeria’s new flood insurance policy laudable, needs quick application, says TMSG

July 4, 2025
Salvaging basic education from ruins of Boko Haram war in Borno
Economy/Technology

Nigeria’s approval of dual NCE, B.Ed degrees in 15 colleges of education a good omen

July 3, 2025
Group hails Presidential Council initiative, welcomes President Tinubu’s N2tn stabilisation package
Economy/Technology

Nasarawa showcases efficient use of fuel subsidy savings, exposes futility of Tinubu’s opposition’s mischief – TDF

July 1, 2025
Property owners besiege FCT office to pay ground rent
Economy/Technology

Transformational in FCT in line with Tinubu’s Renewed Hope agenda

June 30, 2025
China’s agricultural wholesale products prices continue to drop
Agriculture

Ignore Atiku’s claim to dilute historic mechanised farming deal with Belarus

June 29, 2025
Next Post
NBS reports increase in Inflation

NBS reports increase in Inflation

Deep blue project excites LCCI

Osinbajo urges promotion of blue economy project

Recommended Stories

Africa moves to be second-fastest growing region after Asia

May 26, 2023
Nigeria’s non-oil revenue grew above target by 15.7%

Nigeria poor in revenue generation, collection

August 25, 2022
Dlamini-Zuma queries attack on foreigners in S/Africa

Dlamini-Zuma queries attack on foreigners in S/Africa

April 1, 2019

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • Atiku’s mockery of Nigeria over Trump’s invitation to 5 African nation, a display of poor knowledge of global affairs
  • Nigeria’s new flood insurance policy laudable, needs quick application, says TMSG
  • Nigeria’s approval of dual NCE, B.Ed degrees in 15 colleges of education a good omen

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us