Current Realities in the Upstream Sector of the Nigerian Oil & Gas Industry

Current Realities in Nigeria; Economic Security Nigeria's Leading Economic Indicators (LEIS) GDP Growth Exchange Rate (IFEM) Oil Price (Average) Inflation External Reserves ($) MPR Export Import Trade Balance Net FDI Stock Mkt Cap ● 2014 6.3% N186.10/$ $98.90 per barrel 8% $34.47bn 13% p.a. $82.6bn 2015 2.8% N199.35/$ $53.70 per barrel 9.5% $29.10bn 2016 3.3% N220/$ Below $33 per barrel 11% $28.2bn 9% p.a. $51.9bn 11% p.a. $50.9bn $48.7bn $47.4bn $2.2bn $4.5bn $1.6bn $1.8bn N9.85trn N11trn NIGERIAN $61.6bn $21bn $3.1bn N11.48trn ONL Degeconek Falling oil price has an instant, direct and major impact on Nigeria's Economy ASSOCIATION OF OF S PETROLEUMONIST Source: Financial Derivatives Company Research, EIU, NBS, CBN, Bloomberg, Oil Price.com

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