Business
Nigeria’s Crude Oil Production Hits 236 Million Barrels in First Half of 2024
Nigeria produced 236,229,281 barrels of crude oil in the first half of 2024, according to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
Monthly production figures show 44.2 million barrels in January, 38.3 million in February, 38.1 million in March, 38.4 million in April, 38.8 million in May, and 38.3 million in June.
This production marks an increase from 219.5 million barrels in the same period in 2023 but is lower than the 302.42 million barrels produced in the first half of 2020.
The average daily production fluctuated from 1.43 million barrels per day (mbpd) in January to a low of 1.23mbpd in March, with slight recoveries in subsequent months.
Mele Kyari, Group CEO of the Nigerian National Petroleum Company Limited, highlighted the challenges of oil theft and vandalism, which hinder investment and production.
Despite these issues, Kyari expressed optimism that Nigeria would soon achieve a production rate of two million barrels per day.
Business
Aliko Dangote Speaks on His Children and Carrying on His Family Name
Aliko Dangote speaks on his lineage and addresses not having a son as he was asked about not having a son to carry his name and achievements.
“That is not my priority because God controls everything. You can pray for God to give you a son, but he might be the one to take down the name of the family.”
Instead, he shared that he does not mind not having a son. “I don’t think a son would have done better than the three daughters I have.”
Aside from that, he was also asked about giving advice to young Nigerians. “Work hard, be consistent, focused and know what you want to do.”
Business
Dangote Investment Draws Huge Traffic to Bamboo, Cowrywise Platforms
It can be reported that following Aliko Dangote’s investment opportunity, some investment platforms are experiencing huge traffic, causing their platforms to become slow and go down.
Two platforms openly announced their issues. Bamboo said “Hey everyone, we’re getting a much higher than expected traffic trying to get into the Dangote IPO and it’s making it difficult for some users to log into the Bamboo app. We’re working on a fix and it will be up and running shortly.”
Cowrywise also said “We’re currently seeing more traffic than usual on the Cowrywise app. Our team is already on it and working to get things back to normal. Thanks for your patience, everyone.”
Business
Economist Bismarck Rewane Speaks on Dangote Refinery Investment
Nigerian economist Bismarck Rewane advises Nigerians financially, sharing that Nigerians should engage in the Dangote Refinery initial public offering (IPO). He stated that it was a good investment.
He shared “You are better off with your N5,000 share than selling your PVC for N10,000 or N15,000 and consuming it,” Rewane said.
“If you can get 10 million shareholders to participate in the IPO, the Dangote Refinery will have the largest number of shareholders in the world,” he said.
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