Set aside risk funds, NNPC tells national oil firms

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National oil companies should set aside risk funds to minimise the impacts of unforeseen events, the Nigerian National Petroleum Corporation has said.

NNPC’s Group Executive Director, Umar Ajiya, said this during a dialogue on responses by governments and the oil industry to the COVID-19 pandemic in the extractive sector.

He was quoted in a statement issued on Friday by an official in the AfDB’s Communications and External Relations Department, Kwasi Kpodo, as saying, “The Federal Government has had to cut its expenditure and reschedule debt, where necessary.” “Gold has become a safe-haven and an investment of choice for many investors, as gold prices continue to increase due to economic uncertainty,” he stated.

 

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My Oga is asking for some funds to loot,,,, are we facing any risk with our oil and how is that? We need to understand how and why

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