Nigeria Loses N160bn to Opec Production Cut
Nigeria is projected to have lost over N160 billion in deferred revenue to a cut in the daily crude oil production by members of the Organisation of Petroleum Exporting Countries Continue Reading
Nigeria News: Plan for the Second-Largest Hydro Plant in Africa
Nigeria will build the second-largest hydroelectric plant in Africa after the government settled a legal dispute that was delaying the project, Power Minister Sale Mamman said. “We have now overcome the Continue Reading
China Scoops Up Cheap Nigerian Oil
The submersion of East Asian markets into coronavirus-induced recession has pulled down several major oil producers, most notably Nigeria whose breakeven price is well above $100 per barrel (Fitch puts Continue Reading
UK Judge Dismisses $1B Nigeria Bribery Case Against Eni, Shell
A UK judge dismissed on Friday a lawsuit against Eni and Shell brought by the Nigerian government alleging that the oil and gas supermajors knew about US$1.1 billion in bribes Continue Reading
Nigeria Economy, GDP Projection for 2020: Zainab Ahmed
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: At 20.89 Billion Litres, Nigeria’s Petrol Imports Hit Six-Year High
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
Angola’s oil exploration evaporates as COVID-19 overshadows historic reforms
The coronavirus pandemic has done in a handful of months what even a 27-year civil war did not: it has brought oil drilling to a halt in Angola, Africa’s second-largest Continue Reading
Could This Become The World’s Newest Oil Exporter?
For many years it seemed that Liberia has missed out on the West African oil bonanza – whilst Nigeria has already established itself as the leading oil producer in the Continue Reading
Nigeria: Report Predicts U.S.$17 Billion Decline in Nigerian Oil Revenue
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
Coronavirus Outbreak in Nigeria Highlights Emerging Threat in Africa: Live Coverage – The New York Times
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