Indigenous Operators Produce 6% of Nigeria’s oil

Independent and marginal oil fields’ operators as at the end of the third quarter, Q3, accounted for about 5.72 per cent of total crude oil and condensates production, according to the Nigerian National Petroleum Corporation, NNPC financial statement.

 

 The NNPC, in its Monthly Financial and Operations Report for October 2015, said the Independents/Marginal Fields operators produced 32.825 million barrels of crude oil and condensates in the nine-month period, compared to total production of 574.325 million barrels between January and September 2015.

Using an average oil price of $53.78 per barrel, as stipulated in the NNPC report, the 32.825 million barrels of crude oil and condensates produced by the Independents/Marginal Fields operators translates to $1.765 billion, an equivalent of N353.07 billion.

The report gave the production breakdown as follows:

Shortage of Blast Freezers for Poultry Processing Business

Wale Akinfolarin, Chairman, Adusrin Ventures Ltd, a Lagos-based poultry processing plant, on Monday lamented that insufficient number of blast freezers had limited the growth of the poultry processing sub-sector.

Akinfolarin said that the Federal Government should strive to make blast freezers easily affordable for entrepreneurs to enable the poultry business to thrive.

Establishing a Modern Bakery

Bread is a major product of bakery and about the most demanded all over the world.  The implication of this is that demand for bread is automatic.  Consumption of bread cuts across all ages, gender and races.  Bread is taken virtually every minute. It can be taken as breakfast, or lunch or even as a dinner.  It is a ready-made food that does not demand further preparation, except for those who want to toast it.

Raw materials for bread production are readily available.  The major raw material is wheat flour, which is heavily imported into the country.