The debts profile of Nigerian oil companies to banks has hit $3 billion, heightening the heavy burden on the financial institutions. Chief Executive Officer (CEO) of Seplat Petroleum Plc – one of the Nigerian firms – Dr. Austin Avuru, who said this Wednesday, at the Nigerian Association of Explorationists (NAPE) second Webinar series, title “The New Normal Post Covid-19 for the Oil and Gas sector in Nigeria,” declared that the poor servicing of the debts is being worsened by the Coronavirus pandemic. The operators in the Nigerian oil and…
Read MoreNigerian oil Firms’ debts to banks hit $3bn
