September 16, 2022
Nigeria: Govt Confirms Ethiopian Airlines As Technical Partner, Core Investor in Nigeria Air
The federal government has confirmed the selection of Ethiopian Airlines as technical partner and core investor for the establishment of its planned national carrier, the Nigeria… Read more »
Nigeria: Electricity Workers Lambast Discos, Gencos Over Poor Power Supply Despite N2trn Intervention Fund
Electricity workers in Nigeria have criticised the distribution companies (Discos) and the generation companies (Gencos) over the continuous poor power supply in the country after… Read more »
September 15, 2022
Nigeria: Inflation Hits 20.52 Percent
The Consumer Price Index (CPI) which measures inflation rose to 20.52 per cent year on year in August compared to 17.01 per cent in the corresponding period in 2021, the National… Read more »
September 13, 2022
Nigeria: Govt Eyes $4bn Annually From Cashew Exports
The federal government yesterday said it was working to improve the country's earnings from cashew exports to about $4 billion annually. Read more »
Nigeria: Nigerian Govt Lacks Willpower to Confront Daring, Sophisticated Oil Thieves - Report
A report by Proshare, a market intelligence and data analytics firm, has said that oil theft persists in Nigeria because all the institutions of state lack the will and… Read more »
Nigeria: The Economist - Nigeria Missing Out On Rare Global Oil Boom Opportunity
Nigeria has continued to waste the rare opportunity presented by the global rise in oil prices to grow its economy like other oil-producing countries, London-based The Economist… Read more »
September 12, 2022
Nigeria: Prosecute Oil Thieves, Senate Appeals to Military, Security Chiefs
The leadership of the Senate on Monday asked heads of military and security agencies in the country to start prosecuting suspected members of the public who are involved in oil… Read more »
Nigeria: Nigeria's $15.7bn 2022 Fuel Subsidy Projection to Exceed All 36 States' Budget - Report
With Nigeria's petrol subsidy bill skyrocketing in 2022, the estimates for the whole year would exceed the total expenditure by all the states of the federation in 2021, which was… Read more »
Nigeria: Evacuation Constraint Has Halted Oil Production, Storage Tanks Now Full to Brim, PENGASSAN Laments
In a fresh revelation, oil workers under the aegis of Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) have declared that oil companies have been forced to… Read more »
Nigeria: Despite Domestic, Global Challenges, 40 NGX Listed Companies Reports Record N6.78trn Revenue
Despite domestic and global macroeconomic challenges, a total of 40 companies listed on the Nigerian Exchange Limited (NGX) announced combined revenue of N6.78 trillion in the half… Read more »
September 11, 2022
Nigeria: NNPCL Loses $700m Monthly to Crude Oil Theft
The Nigerian National Petroleum Company Limited (NNPCL) said the impact of crude oil theft has been affecting its performance, disclosing that it loses 470,000 barrels per day… Read more »
September 09, 2022
Nigeria: Nigeria's Oil Industry Headwinds Worsen, Production Drops to Record Low, 972,394
Nigeria's oil sector challenges appear to be worsening, with production hitting a record low of 972,394 barrels per day in August, according to data obtained from the Nigerian… Read more »
Nigeria: FAAN Boss Calls for Guidelines to Boost Capacity of Cargo Freighting in Nigeria
The Managing Director of the Federal Airports Authority of Nigeria (FAAN), Captain Rabiu Yadudu, has called for guidelines in cargo freighting in Nigeria to help boost the capacity… Read more »
Nigeria: Nigeria Sitting On Multibillion Dollars Unexplored Perishables Exports - Expert
According to the Central Bank of Nigeria (CBN), Nigeria earned N4. 13 trillion from oil and gas exports in 2021, but experts who are versed in export of perishable farm produce… Read more »
September 08, 2022
Nigeria: Oil Price Drops to Seven-Month Low On China Lockdown, Recession Fears
Crude oil prices fell yesterday to their lowest since before Russia invaded Ukraine as COVID-19 curbs in top crude importer China and expectations of more interest rate hikes… Read more »
Nigeria: Peter Obi Meets Okonjo-Iweala At WTO
The presidential candidate of Labour Party, Mr. Peter Obi yesterday met with the Director General of World Trade Organisation (WTO), Dr. Ngozi Okonjo-Iweala. Read more »
Nigeria: Oil Workers Begin Nationwide Rallies Against Massive Oil Theft Today
Oil workers in Nigeria yesterday declared that they would begin nationwide rallies today in protest against the current massive theft of the country's crude oil and destruction of… Read more »
Nigeria: Nigeria May Begin Supply of More Gas to Europe By March 2023, Says Sylva
Nigeria will be able to send more Liquefied Natural Gas (LNG) to Europe by next winter, Minister of State , Petroleum, Timipre Sylva said on Wednesday at the Gastech conference in… Read more »
Nigeria: Local Oil Refiners Seek CBN, NNPC's Intervention to Address Funding, Feedstock Challenge
Indigenous oil refiners under the aegis of Oil Refiners Association of Nigeria (CORAN) have appealed to the Central Bank of Nigeria (CBN) to create crude refinery intervention fund… Read more »
September 07, 2022
Nigeria: Spiraling Debts As Fiscal Woes for Next Administration
Nume Ekeghe and James Emejo writes on the country's controversial public debt stock that has been on the increase since 2015 and its lack of impact on key macroeconomic indicators Read more »
September 06, 2022
Nigeria: Renewed Fight Against Crude Oil Theft Has Denied Criminals N30bn Stolen Products - Navy
The Nigerian Navy's renewed fight against crude oil theft through the ongoing Operation Dakatar Da Barawo has denied criminals over N30 billion stolen products from illegal… Read more »
Nigeria: Banks' Total Asset Grew By 22.07 Percent to N65trn in June - CBN
The Deputy Governor, Financial System Stability Directorate of the Central Bank of Nigeria (CBN), Mrs. Aisha Ahmad and the Deputy Governor, Economic Policy Directorate, CBN, Dr.… Read more »
Nigeria: Nigeria, Ghana, Others Fintech Sales to Surge to $30.3bn By 2025 - Mckinsey
Africa's financial-technology company revenue may soar to $30.3 billion by 2025, eight times higher than in 2020, as a growing, young and under-banked population gets more access… Read more »
Nigeria: Manufacturing Declines As Economy Witnessed Highest Inflationary Pressure in August - Report
Economic activities in the manufacturing sector of the Nigerian economy experienced a fall in output levels in August as the productivity of the Nigerian private sector reduced… Read more »
Nigeria: Again, Nigeria Loses 7.56m Barrels of Crude Oil to Shut-Ins, Facilities' Failures, Others
The Nigerian economy continued to bleed from shut-in of crude oil production as a result of vandalism, workers' strikes, depreciating upstream infrastructure as well as force… Read more »