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Nigeria Has Leapt Up the World Bank’s Doing Business Rankings. What Does That Actually Mean?

The World Bank this week produced their annual Doing Business report. It doesn't tell you where to invest, but it does tell you exactly how easy or hard it might be and which hurdles (or lack of) you can expect to find when you get there. Ranking each country and their progress over time is an i ...

Bayo Okoya - Delta Analytics Lagos


Posted 1 year agoPress > NigeriaWorld BankDoing Business +1

“Eze does it!”: Nigeria’s Oranto moves into Uganda

It was reported earlier this week that Oranto Petroleum – one of Nigerian many emerging indigenous oil and gas corporations – has secured two production sharing agreements with Uganda to explore for oil and gas around Lake Albert. Oranto Chairman, Arthur Eze expressed his exciting at the opportun ...

Bayo Okoya - Delta Analytics Lagos


Posted 1 year agoOpinion > NigeriaUgandaOranto Petroleum

Nigerian Oil: Blending Indigenous Roots and International Ambitions

What makes a firm essentially Nigerian? Certainly not where it operates, but rather its people. Who founded it, who directs its day-to-day management and longer-term strategic direction. Who ‘calls the shots' in other words. However, there is another question. A lot of oil firms claim to be indigen ...

Bayo Okoya - Delta Analytics Lagos


Posted 1 year agoOpinion > Nigeria

Nigeria's Corruption Rhetoric Won't Fix The Oil Sector

In Nigeria ‘corruption' has so many forms, so many connotations and occurs in so many settings that it has become a loaded and vague term. At its most benign, it greases the wheels of a transaction, gets you in the room, bumps you to the front of the line. At its most malign, it undermines the fab ...

Bayo Okoya - Delta Analytics Lagos


Posted 1 year agoOpinion > NigeriacorruptionOil +4

OPEC vs Nigeria: Lose-lose situation?

Last week, Nigerian oil minister Emmanuel Ibe Kachikwu indicated that Nigeria would not join OPEC oil cuts until March 2018 at the very earliest, citing a lack of stability in the nation's oil output. OPEC agreed in May this year to extend output cuts into 2018, though Libya and Nigeria were exemp ...

Bayo Okoya - Delta Analytics Lagos


Posted 1 year agoOpinion > OPECNigeriaProduction +2

Benedict Peters: Aiteo Founder hits back over corruption allegations, boasting $4bn of FDI

Despite being one of the most enterprising countries on the planet, Nigerians loves to do businesses down. What's more, it's often our own home-grown businesses. This week, one of those business has decided to hit back. Having been the subject of corruption allegations as part of Buhari's anti-graf ...

Bayo Okoya - Delta Analytics Lagos


Posted 1 year agoOpinion > AiteoNigeriaBenedict Peters

Nigerian output to surge after dodging OPEC cuts

In a boost to Nigerian oil production, Royal Dutch Shell on Tuesday lifted its force majeure on exports of Forcados crude oil shipments. The force majeure , which allows companies to miss contractual obligations as a result of events out of their control, was imposed on 21 February 2016 followin ...

Bayo Okoya - Delta Analytics Lagos


Posted 2 years agoOpinion > NigeriaShellForcados +3

Relief in Vienna as Nigeria takes a step back from the brink

OPEC has agreed to extend cuts in oil production by nine months to March 2018, following their meeting on Thursday in Vienna. Exempting Nigeria from the cuts may have avoided political meltdown in West Africa. Nigeria and Libya were once against exempt from making any such cuts, as they recover fro ...

Bayo Okoya - Delta Analytics Lagos


Posted 2 years agoOpinion > OPECNigeriaoil price

Nigeria and Libya could be forced to share OPEC output cuts as Saudi placates Iraq

A Saudi bid to shore up Iraqi support for a nine-month extension of an OPEC output deal could see Nigeria and Libya forced to share the burden of cuts. The two countries are currently exempt from self-imposed cuts agreed by the oil cartel as they restore capacity following domestic conflicts. Follo ...

Bayo Okoya - Delta Analytics Lagos


Posted 2 years agoOpinion > OPECSaudi ArabiaIraq +3

Nigerian Oil: The progressive protectionists

The only progress worth attaining is slow progress. This seems to be the way in Nigeria's oil sector. It is seven years since the Federal Government enacted the Nigerian Oil and Gas Industry Content Development Act of 2010 – otherwise called the Local Content Act. At the time, we knew progress would ...

Bayo Okoya - Delta Analytics Lagos


Posted 2 years agoOpinion > Nigeria

Nigeria expects the US to invest in underperformance

Ibe Kachikwu wants to give you 50 billion reasons to invest Nigerian oil. That was the message delivered to US investors by the Nigerian Petroleum Minister. Speaking in Houston, Texas on Tuesday, Dr Kachikwu said that the Government's recently unveiled Economic Recovery and Growth Plan (ERGP) would ...

Bayo Okoya - Delta Analytics Lagos


Posted 2 years agoOpinion > TexasHoustonNigeria +2

Nigeria Report: Native firms bear the risk of unusable pipeline

Nigeria's crucial Forcados pipeline remains offline following attacks in early January, forcing indigenous Nigerian firms to transport crude using an increasingly expensive and dangerous means: over water. Forcados, which is majority owned by Royal Dutch Shell, remains offline following militant at ...

Bayo Okoya - Delta Analytics Lagos


Posted 2 years agoOpinion > LicenceShellForcados +7

Nigeria says 'Power to the people!'

Like many working in the oil and gas sector in Nigeria, I am crossing my fingers that much-needed new legislation will be passed in the days ahead. Not only would it provide a confidence boost for the global investment community, but it would sure-up the domestic market and at last allow it to grow. ...

Bayo Okoya - Delta Analytics Lagos


Posted 2 years agoOpinion > NNPCPowergeneration +1

What Brexit means for Nigeria

Speaking in Nigeria last week, the British High Commissioner to Nigeria, Paul Thomas Arkwright , was very keen to remind us of what Britain had done – and continues to do – with Nigeria. As Britain begins to negotiate a messy exit from the European Union, what seemed in part as a sales pitch to the ...

Bayo Okoya - Delta Analytics Lagos


Posted 2 years agoOpinion > BrexitNigeriaEmbassy +4

Nigerian oil: overpromising and under-delivering

What the Nigerian administration possesses in its ability to propose ambitious promises, it ultimately makes up for in a lack of ability to execute its very well-intentioned plans. And it is now clear to everybody that the price of crude oil has very little to do with the country's problems. Among ...

Bayo Okoya - Delta Analytics Lagos


Posted 2 years agoOpinion > OilNigeriaPIB +6