Nigeria Needs $25 Billion in Annual Investment to Stabilize Oil Production ...Middle East

Africa’s top oil producer, Nigeria, needs annual investments of $25 billion to reach and keep its output at around 2 million barrels per day (bpd), Nigerian oil industry executive Austin Avuru said this week. “We need to invest $25 billion annually to stabilize production at 2 million barrels per day,” said Avuru, who is executive chairman of AA Holdings. This investment level “is crucial to ensure the sustainability of the sector and its contribution to the national economy,” the executive added at an event in Nigeria,…

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