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Nigeria’s economic diversification not yet visible

WITH the groundnut pyramid in the North, palm oil and kennel in the East and South East and cocoa in the South-West before the discovery of petroleum in Nigeria, there were indications that the nation was heading towards becoming a great economic giant in Africa for some reasons. First, the nation was and is still richly endowed with many oil and non-oil resources. Second, the major stakeholders, especially indigenes and trading companies were committed. Third, the regional administrations also provided the enabling environment for operations.

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Gas development: The Chevron Nigeria Limited’s success story

THE development of Nigeria’s vast gas resources has been one of the major policy thrusts of successive governments in Nigeria. It is worthy of note that Nigeria is blessed with resources for growth and global competition in gas. The country ranks 9th in World’s gas proven reserves. The National Gas Master Plan focuses on reducing routine gas flaring, increasing domestic gas supply and utilisation, while diversifying Nigeria’s revenue.

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