This week’s business column, is dedicated to the efforts of African countries in raising oil prices on the market. A case study of Nigeria.
Nigeria, the continent’s largest oil producer, is being carefully scrutinized by other members of OPEC, the organization of oil-exporting countries.
And for a good reason, Abuja is still lagging behind in implementing the joint decision of OPEC members and their allies last December to reduce world oil production by 1.2 million barrels of oil per day from December 2018 to June 2019, in order to boost prices.
Moreover, meeting this Monday in Baku, Azerbaijan, the Member States and non Allied States postponed meeting until next June, the decision on a possible extension of the oil production framework agreement.