Nigeria still searching for an answer to its problems

摘要

After a year of mounting debts and falling production, the Nigerian government is taking a new approach to managing the country's oil industry with a new upstream financing scheme and what it describes as a serious attempt to put an end to the attacks on oil installations that have robbed it of more than 10 of its production. Measures are also being taken to revive exploration in an effort to stem an expected decline in reserves. The Federal Ministry of Petroleum Resources forecasts a rise in production this year of 0.3 mn bpd over 2016, to 2.2 mn bpd, with further increases annually in subsequent years. All this depends, however, on the success of the governments latest measures: success that is by no means assured.