Nigeria’s Oil Production Ends In 41 Years – World Bank

Date: 05-10-2012 1:30 pm (11 years ago) | Author: franel
[1] 2 3 4
- at 5-10-2012 01:30 PM (11 years ago)
(m)
«§» 5 October 2012

Nigeria’s oil reserve will be depleted in 41 years, according to a World Bank Group’s twice-yearly analysis of the issues shaping Africa’s economic prospects called Africa’s pulse.



The report which was presented by the World Bank’s chief economist for Africa, Shantayanan Devarajan, on Thursday said Nigeria’s and Angola’s oil reserves will be depleted in 41 and 21 years respectively.

“Nigeria, the largest regional producer, can keep supplying at 2011 levels for another 41 years, while Angola, the second largest producer in the region, has about 21 years remaining at current production levels before its known reserves are depleted.

“Given the size of these reserves, it is likely that the dependence on oil resources in these countries are likely to continue in the near to medium term. Production in newly oil-rich countries such as Ghana and Uganda could also last for several years.”

According to the World bank’s chief economist, Mineral wealth in African countries including Nigeria don’t translate to prosperity because the money accruing from it doesn’t pass through the citizens, and the citizens don’t see the wealth as theirs.

Posted: at 5-10-2012 01:30 PM (11 years ago) | Hero
- micc at 5-10-2012 03:30 PM (11 years ago)
(m)
ok na
Posted: at 5-10-2012 03:30 PM (11 years ago) | Hero
Reply
- micc at 5-10-2012 03:30 PM (11 years ago)
(m)
ok na
Posted: at 5-10-2012 03:30 PM (11 years ago) | Hero
Reply
- dlimelite at 5-10-2012 05:05 PM (11 years ago)
(f)
Hmmm
Posted: at 5-10-2012 05:05 PM (11 years ago) | Hero
Reply
- Solidstonez at 5-10-2012 05:37 PM (11 years ago)
(f)
hmmmmm
Posted: at 5-10-2012 05:37 PM (11 years ago) | Addicted Hero
Reply
- ela214 at 5-10-2012 06:12 PM (11 years ago)
(f)
HUMM Lips Sealed Lips Sealed Lips Sealed;
Posted: at 5-10-2012 06:12 PM (11 years ago) | Gistmaniac
Reply
- Damsel12 at 5-10-2012 06:18 PM (11 years ago)
(f)
It is still far
Posted: at 5-10-2012 06:18 PM (11 years ago) | Newbie
Reply
- donklass at 5-10-2012 07:40 PM (11 years ago)
(m)


this kind of informtion might be counter productive,
it will rather make the younger politician to double
their tracks in catcing up in the looting jamborie.
Posted: at 5-10-2012 07:40 PM (11 years ago) | Upcoming
Reply
- Lonju at 5-10-2012 07:51 PM (11 years ago)
(m)
which of these can i say--- Briz blow see fowl yansh or Angelina get belle yanga don finish ?  I am confused abeg .
Posted: at 5-10-2012 07:51 PM (11 years ago) | Upcoming
Reply
- harunakoni at 5-10-2012 08:29 PM (11 years ago)
(m)
When that time reach nobody go contest again.
Posted: at 5-10-2012 08:29 PM (11 years ago) | Upcoming
Reply
- Sunymoore at 5-10-2012 08:32 PM (11 years ago)
(m)
Haa, we go suffer jare
Posted: at 5-10-2012 08:32 PM (11 years ago) | Newbie
Reply
- dlimelite at 5-10-2012 08:43 PM (11 years ago)
(f)
Quote from: Sunymoore on  5-10-2012 08:32 PM
Haa, we go suffer jare
Are we not already suffering even with oil
Posted: at 5-10-2012 08:43 PM (11 years ago) | Hero
Reply
- ajanni at 5-10-2012 09:27 PM (11 years ago)
(m)
and what of that USA?
Posted: at 5-10-2012 09:27 PM (11 years ago) | Grande Master
Reply
- Senegal at 5-10-2012 09:30 PM (11 years ago)
(m)
ok
Posted: at 5-10-2012 09:30 PM (11 years ago) | Hero
Reply
- suspark18 at 5-10-2012 09:35 PM (11 years ago)
(f)
I WISH WE HAVE NOTHING CAUSE WE ARE GETTING NOTHING
Posted: at 5-10-2012 09:35 PM (11 years ago) | Newbie
Reply
- Neglito at 5-10-2012 10:32 PM (11 years ago)
(m)
Quote from: donklass on  5-10-2012 07:40 PM

this kind of informtion might be counter productive,
it will rather make the younger politician to double
their tracks in catcing up in the looting jamborie.

Very correct.
Posted: at 5-10-2012 10:32 PM (11 years ago) | Gistmaniac
Reply
- Neglito at 5-10-2012 10:35 PM (11 years ago)
(m)
GOOD NEWS!, AFTERALL, NIGERIA WAS MUCH BETTER WHEN WE HAD NO OIL. East will go back to palm produce, North, Groundnut, West Cocoa.
Posted: at 5-10-2012 10:35 PM (11 years ago) | Gistmaniac
Reply
- ikwo1 at 5-10-2012 10:51 PM (11 years ago)
(m)
evil men in 9jar
Posted: at 5-10-2012 10:51 PM (11 years ago) | Gistmaniac
Reply
- Sunbebo at 6-10-2012 12:01 AM (11 years ago)
(m)
Some ppl go soon join Obasanjo in farming...Electric cars don dey boku....
Posted: at 6-10-2012 12:01 AM (11 years ago) | Upcoming
Reply
- xband at 6-10-2012 12:43 AM (11 years ago)
(m)
Quote from: Neglito on  5-10-2012 10:35 PM
GOOD NEWS!, AFTERALL, NIGERIA WAS MUCH BETTER WHEN WE HAD NO OIL. East will go back to palm produce, North, Groundnut, West Cocoa.
My brother, your right. Peace will come back again. But lets enjoy the one's we got now.
Posted: at 6-10-2012 12:43 AM (11 years ago) | Upcoming
Reply
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