By Yange Ikyaa
Nigeria’s rig count, an important measure of upstream activities in the oil and gas industry, went up 15.2 per cent year-on-year (YoY) to 114 in 2022, increasing from 99 in the previous year.
This is according to data from the Organization of Petroleum Exporting Countries (OPEC), as contained in its Monthly Oil Market Reports.
Judging the trend from the month- on-month (MoM) perspective, the rig count rose to 12 in December 2022, increasing from 10 in November 2022 and showing a 20 per cent growth during the period under review.
Nigeria is considered very strategic to OPEC, as it remains the “most populous country within OPEC, with over 200 million inhabitants.