Concerns heighten over Nigeria’s oil industry in 2014

As Nigerians entered the year 2014, the growing concerns over the state of the oil and gas industry have continued to engage the attention of experts and stakeholders.

This is because oil accounts for about 90 percent of the nation’s revenue and has been made to be the mainstay of the economy by successive governments. Will the oil industry fare better in 2014?

Mr. Barry Esimone, Chief Executive Officer, CEO, Crusteam Group, an energy and infrastructure company believes that the oil and gas industry in 2013 continued in the trend of decline on effective activities both in upstream and downstream segments. “Exploration activities certainly fell below expected industry standard as no new find was made and very few drilling activities took place.

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About Author: Integrity Org

Integrity Organization is committed is an anti-corruption, research and advocacy organization. Its activities are centered on the aim to reduce the tolerance for corruption in Nigeria.

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