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The weekly Market Report is provided by Gladius Commodities of Lagos, Nigeria. Download the full report here . Learn more about Gladius Commodities at www.gladiuscommodities.com. NIGERIA A minimum of $10 billion worth of investments is currently being injected in the energy sector to delist Nigeria from one of the most energy impoverished nations in the world. Speaking at the Atlantic Council Global Energy Forum 2021, Alhaji Mele Kyari, Group Managing Director, Nigerian National Petroleum Corporation, elaborated on the topic of “Delivering Energy Access in the Developing World”, emphasizing the value of Nigeria’s resources in increasing domestic access. Kyari stated that the country will focus on using its oil and gas resources to develop infrastructure as long as the commodity remains relevant, which he approximated will be so for about 40 years. To this end, he noted that the country, with its significant gas reserves, has approximately $3 -$4 billion in ongoing projects, many in advanced stages, to rev up production for domestic use and export. The Minister of State for Petroleum Resources, H.E. Timipre Sylva, at the launch of the Federal Government Extended Special Public Works Program in Yenagoa, Bayelsa stated that the aim was to shield the most […]
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