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| Africa Subsaharan |
| Expert: Nigeria's oil reserves to dry up in 43 years |
| 2008-06-22 |
| (Xinhua) -- General Manager of Nigerian Agip Oil Exploration, Richard Ogunde, on Friday in Nigeria's southwest Ogun State said Nigeria's oil reserve had only 43 years to dry up, according to the News Agency of Nigeria on Saturday. Ogunde made the disclosure in a lecture at the Tai Solarin University of Education in Ogun State. He said Nigeria's reserve remained 36.2 billion barrels, quoting from the latest world oil data, saying that Nigeria had a yearly oil production capacity of 2.3 billion barrels. The oil expert advised the government to start looking for other oil reserves, and urged it to seek other means of sustenance after oil might have disappeared. He accused successive governments of conniving with the state-owned Nigerian National Petroleum Corporation (NNPC) to misdirect, mismanage and misapply the country's oil revenue without commensurate infrastructure growth, and criticized the NNPC for engaging in the direct sale of petroleum products by setting up retail outlets in different parts of the country. |
| Posted by:Fred |
| #2 With all the stoppages due to attacks in the last few years, I'd imagine Nigeria's oil reserves would last another century or several. But it certainly wouldn't hurt anything were the Nigerians to find something productive to do -- other than financial scams, I mean. |
| Posted by: trailing wife 2008-06-22 11:31 |
| #1 The oil expert advised the government to start looking for other oil reserves, and urged it to seek other means of sustenance after oil might have disappeared Kreeateive Riting is naturle endustry |
| Posted by: HalfEmpty 2008-06-22 08:43 |