Data from the National Oil Spill Detection and Response Agency (NOSDRA) reveals that 156 oil spill incidents were reported between September and November 2023, costing the waste of about 2792.51 barrels of crude oil. According to the November report, the spill happened at various oil companies’ facilities, with Total Exploration and Production having reported the most significant spillage at 803.06 barrels of crude oil spilled representing about 72.5% of overall oil spillage, followed by Heritage Energy Operational Service Limited, NNPC Exploration and Production Ltd, Nigerian Agip Oil Company, Midwestern Oil and Gas spilled and Shell Petroleum Development Company (SPDC) with about 233 barrels, 30.5 barrels, 26.43 barrels, 7.26 barrels, and 7 barrels of crude oil respectively. Oil spillage has several devastating impacts on the environment, ecosystems, and the livelihoods of local communities.
December 23, 2023
Nigeria Economic Update (Issue 47)
Related
Nigeria Economic Update (Issue 38)
Recent
NBS data on Nigerias real GDP growth rate declined from -0.36 percent in
2016Q1 to -2.06 percent in 2016Q2. With negative GDP growth rate in
two consecutive quarters, Nigeria records its first recession in 23 years. Both
the oil and non-oil sectors continued to contract by -15.59 and -0.20
percentage points, respectively, relative to preceding quarter. The worsening
growth rate in the oil sector was largely driven by the decline in domestic crude
oil production by 14.5 percent relative to preceding quarter