Alarmed by the fall inglobal oil prices, Petroleum Minister and President, Organisation of Petroleum Exporting Countries, OPEC, Mrs Diezani Alison-Madueke, has said that Nigeria needs to adopt a more strategic approach to sustaining the oil industry.
►The oil minister, who addressed State House correspondents for the first time since her election as OPEC President last week, said the change of direction was necessary to enable Nigeria stay competitive in the dwindling international crude oil market.
►Allison-Madueke warned that in order to stay afloat, Nigeria could no longer afford to do business as usual considering the prevailing decline in global demand for the product.