With the easing of production cut by the Organisation of Petroleum Exporting Countries and allies , experts have warned that insecurity in the oil-bearing Niger Delta might hinder Nigeria’s market share in 2021.
In his intervention, an Emeritus Professor of Petroleum economics and Policy Research, Prof. Wumi Iledare, said: “For Nigeria, insecurity of assets in the Niger Delta may continue to hinder its ability to meet market share. And as evident in the 2021 budget, government is banking on finding alternative sources to fun its budget.”
“If that is the case, gas policy development as gazetted gives a clue on the way forward. Gas development for industrial grow must be in the fore front. He explained: “So the PIB 2020 must bring a new mentality anchors on fiscal designs for investments competitiveness for economic output in the long run.
“There can be double whamming in terms of oil capacity expansion necessitating higher than normal oil price growth in near term.”