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Low Investment Stalls Nigeria’s Oil Exploration in September: Impact on Growth & Future Prospects

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Oil Exploration in September

The National Security Adviser, Nuhu Ribadu, stated a year ago that the country is losing 400,000 barrels of oil per day to crude oil thieves.

Data provided by Direct Sources, according to OPEC, said crude oil production dropped marginally from 1,352 million barrels per day in August to 1, 324 million barrels per day in September 2024.

In the latest October 2024 Monthly Oil Market Report, OPEC also said Nigeria’s number of rigs deployed for exploration dropped from 17 recorded at the beginning of 2024, to 14 as of September 2024.

A decrease in the number of rigs means low interest and investment in exploration, as previous reports pointed to various divestment pursuits of International Oil Companies (IOCs) from the country.

According to OPEC, Algeria emerged as the highest nation in exploration with 43 rigs while Equatorial Guinea came last with zero rigs.

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Nigeria has proven oil reserves of approximately 37 billion barrels of oil and 209 trillion standard cubic feet, Tscf of proven natural gas reserves.

Efforts to increase the 37 billion barrels of oil and 209 trillion standard cubic feet, Tscf of proven natural gas reserves have not been very successful for many years.

According to the report, Nigeria’s oil production has remained in the 1.1 million barrels per day range between 2022 and 2023, before rising to between 1.3 and 1.2 million barrels per day in the first and second quarter of 2024.

Production then went from 1.2mb/d in the second quarter to 1.3mb/d in the third quarter and remained flat until September 2024.

A production of 1.3mb/d is still a far cry from 1.7mb/d target of the Federal Government in the 2024 budget.

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Although OPEC has also fixed a 1.5mb/d quota for the country until December 2025, efforts to ramp up production have remained unsuccessful due to rampant high-level pipeline vandalism and crude oil theft in the oil-producing states.

Crude oil theft is a menace that has severely impacted the country’s revenues, despite ongoing government efforts to end it in the Niger Delta region.

The National Security Adviser, Nuhu Ribadu, stated a year ago that the country is losing 400,000 barrels of oil per day to crude oil thieves.


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YipeeBet: The Ultimate Online Casino Experience for Smart Gamers

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In the ever-evolving world of online gaming, YipeeBet has positioned itself as a top-tier platform, delivering players an exciting, seamless, and rewarding experience. Whether you’re a seasoned bettor or a casual gamer, YipeeBet offers an unparalleled mix of entertainment, bonuses, and fast payouts that keep you coming back for more.

Why YipeeBet Stands Out

YipeeBet is not just another betting platform; it is an innovation-driven ecosystem designed for thrill-seekers and smart gamers who want to maximize their winnings while enjoying a user-friendly interface.

Diverse Game Selection – From adrenaline-pumping games like Aviator, Virtual Cup, Super Shooter, and Mini Roulette to a wide array of online casino betting options, and free game zone for relaxation with no money invloved. YipeeBet caters to every type of player.

Instant Payouts & Secure Transactions – YipeeBet ensures quick withdrawals and deposits with a secure payment system, guaranteeing hassle-free transactions.

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Massive Bonuses & Promotions – With lucrative welcome bonuses, cashback offers, and seasonal promotions, players get more value on their bets.

User-Friendly Interface – YipeeBet’s website and mobile app are designed for easy navigation, ensuring a seamless betting experience whether you’re at home or on the go.

Join the YipeeBet Revolution

With a commitment to providing top-notch gaming and betting services, YipeeBet continues to redefine online gaming in Nigeria. Whether you’re in it for the thrill, the winnings, or just pure entertainment, YipeeBet is the ultimate destination.

Sign up today at www.yipeebet.com and start winning!

Follow us on social media for the latest updates and exclusive promotions: Instagram | X (Twitter) | Facebook @yipeebetcasino

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NNPC acquires 15% stake in a $7m CNG plant in Delta

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NNPC 1

The Nigerian National Petroleum Company (NNPC) Limited through its subsidiary NNPC Gas Marketing Limited (NGML), has acquired a 15 percent

read more NNPC acquires 15% stake in a $7m CNG plant in Delta


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Best Cryptos To Buy Now: Why These Top 5 Coins Could Explode Amidst Meme Coin and Altcoin Super Cycles

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Some market observers anticipate that meme coin and altcoin super cycles could be on the horizon, prompting crypto enthusiasts and buyers to search for the best cryptos to buy now. Among the cryptocurrencies gaining traction ahead of these potential phenomena are Toncoin, Polkadot, MANTRA, B3 (Base), and the new altcoin JetBolt (JBOLT). 

While still in presale, the zero-gas altcoin JetBolt is receiving an overwhelming response from blockchain whales and crypto aficionados. It has sold more than 320 million tokens, a huge feat for this young crypto.

Can JetBolt and the rest of the featured coins sustain their current momentum? Let’s discover why these top 5 coins could explode amidst meme coin and altcoin super cycles. 

The Ultimate List of the Best Cryptos to Buy Now: 

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  1. JetBolt (JBOLT): Young altcoin with zero-gas tech and rapidly expanding presale.

  2. Toncoin (TON): Native token of “The Open Network.”

  3. Polkadot (DOT): Blockchain project that connects blockchains.

  4. MANTRA (OM): DeFi services ecosystem offering RWA tokenization. 

  5. B3 (Base) (B3): A Layer-3 solution on the Base chain. 

Best Cryptos To Buy Now: An Extensive Overview

1) JetBolt (JBOLT)

At its core, JetBolt is a young altcoin offering groundbreaking features. Its zero-gas technology enables crypto users to transact without paying for gas fees. JetBolt also boasts an intuitive crypto-staking platform that allows stakers to earn rewards when they simultaneously stake their tokens and interact with friends. 

Additionally, JetBolt offers an AI-powered crypto insights tool that showcases crypto news and stories arranged according to bearish or bullish market sentiment. 

With the JetBolt presale underway, early buyers can get exclusive perks, such as extra tokens when they purchase Alpha Boxes or JBOLT tokens in batches. JetBolt has already sold over 320 million tokens since its launch.

2) Toncoin (TON)

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Toncoin is the native token of “The Open Network” (TON), a decentralized blockchain platform. It is utilized for transaction fee payments, powers the network’s operations, and serves as a governance token. 

3) Polkadot (DOT)

Polkadot is a blockchain project that connects blockchains, enabling data to be sent seamlessly across various blockchain networks. DOT is the network’s native token, used for staking and governance. 

Chart of Polkadot’s price movement over the past 24 hours shows DOT trading at $5.15 based on CoinMarketCap data

4) MANTRA (OM)

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MANTRA is a decentralized finance (DeFi) services ecosystem built on the Rio Chain. MANTRA offers financial services such as real-world asset (RWA) tokenization that adhere to regulatory compliance. Holders use OM tokens to partake in decision-making processes inside the ecosystem. 

5) B3 (Base) (B3)

B3 is a Layer-3 solution on the Base chain created for seamless blockchain gaming for developers and players. According to Logan Hitchcock’s article on Decrypt, B3 has more than 80 games and has attracted 6 million players since 2024. 

Best Cryptos to Buy Now: Key Takeaways

In this extensive overview, we discovered why Toncoin, Polkadot, JetBolt, MANTRA, and B3 (Base) are seen as strong contenders for the best cryptos to buy now. JetBolt is a captivating altcoin to explore, thanks to its suite of cutting-edge features and its ongoing presale. 

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While each cryptocurrency is innovative in its own way, it’s impossible to predict whether any of these coins could explode in the potential meme coin and altcoin super cycles because of market volatility. 

For more details about JetBolt’s features and ongoing presale, visit the official JetBolt website today.

FAQs: 

What are the top 5 crypto coins?

Here are the top 5 coins that are gaining popularity amidst the potential meme coin and altcoin supercycles: 

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  • Toncoin 

  • Polkadot

  • JetBolt 

  • MANTRA 

  • B3 (Base)

What crypto is best to buy now?

Based on emerging crypto industry trends and other market developments, Toncoin, Polkadot, JetBolt, MANTRA, and B3 (Base) are some of the best cryptos to buy now. Each demonstrates qualities that make them appealing to crypto buyers. 

This written piece does not offer any financial advice. All cryptocurrencies carry significant risks and are subject to the crypto market’s volatility. Thus, due diligence and extensive research are essential before acquiring a crypto asset.

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