Problems facing Nigeria oil and gas sector and recommended solutions . - Oluwakemi's blog | Home of Nigeria hand crafts and skills

Oluwakemi's blog | Home of Nigeria hand crafts and skills

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Thursday, 6 December 2018

Problems facing Nigeria oil and gas sector and recommended solutions .

Problems facing Nigeria oil and gas sector and recommended solutions. Nigeria as a country is blessed with a lot of natural resources among which of it is hydro carbons. Nigeria is one of the largest producer of oil in the world and the third largest in Africa continent, the revenue gotten from the sales of this oil is the major source of our foreign exchange earnings . There are several problems facing Nigeria oil and gas sector which includes the following : *pipeline vandalism - This act involves deliberate damage to pipelines for the purpose of stealing crude oil, this has a huge side effects ranging from fire outbreaks which leads to loss of lives and properties, environmental pollution amongst others. * Kidnapping : There have been series of reports of how foreigners have been kidnapped this brings fear into the minds of the foreigners who come to work in Nigeria. * Insufficient pipeline infrastructure: The pipelines infrastructure available are not enough which is one of the major problems in the Nigeria oil and gas sector. *Oil spills : There is several cases of oil spills which has led to loss of several millions of oil barrels, most of which are caused by sabotage, tanker accident, etc. Solutions to problems facing Nigeria oil and gas sector. * Adequate security should be provided to prevent kidnapping of foreigners for ransom. * Affordable fuel pricing :fuel pricing should be affordable, the problem of pricing should be addressed . * Adequate funding - funding should be provided to buy infrastructures needed to make oil and gas sector work more effective.

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