Nigeria’s economy could contract 8.9% this year without stimulus, Lagos-based ThisDay newspaper reported, citing Finance Minister Zainab Ahmed. Measures being put in place could slow the contraction to 4.4% and if Continue Reading
Nigeria imported a total of 20.89 billion litres of petrol in 2019, the National Bureau of Statistics (NBS) stated wednesday. Of this figure, the South-west took delivery of the highest Continue Reading
Nigeria’s oil revenue is likely to decline by between 70 per cent and 80 per cent this year, representing between $15 billion and $17 billion, the Chief Executive Officer of Continue Reading
An outbreak in Nigeria is just one of Africa’s alarming hot spots. The coronavirus has been relatively slow to take hold in Africa, but blazing hot spots are beginning to Continue Reading
Nigeria’s economy is bracing for a dramatic slump as the fallout from the oil price crash and the coronavirus pandemic will be devastating on its oil and natural gas industry. Continue Reading
Nigerian President Muhammadu Buhari urged international financial institutions to cancel the debt obligations of member states to help them withstand the fallout of the coronavirus pandemic. In a meeting with other Continue Reading
The Chief Executive Officer of the New Horizon Systems Solution, Mr. Tim Akano, has advised the federal government to prioritise funding of the Dangote Refinery, as part of its strategy Continue Reading
The oil price crash isn’t getting any easier for Nigeria. Late on Monday, the nation released the prices for most of its crude oil grades for sale in May. The figures Continue Reading
The crash in oil prices and the economic fallout from the coronavirus together pose what could be an existential threat for Africa’s largest economy and biggest crude producer. Nigeria, a Continue Reading
Africa’s largest oil producer, OPEC member Nigeria, has yet to figure out how and from where to cut production as part of the OPEC+ deal, and this has led to Continue Reading
