Urgent Need to Diversify Nigeria's Economy as Oil Prices Plunge
Nigeria has been relying solely on crude oil as its major source of revenue. Now the government has said unfolding events of the past few months, the coronavirus pandemic and the oil price war have further reinforced its resolve to diversify the economy.
Victoria Island, Lagos
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Nigeria:
Growing Non-Oil Exports in Nigeria
This Day, 17 March 2020
Nigeria has been a mono-economy for many years, relying solely on crude oil as her major source of revenue. Before now, agriculture and mining were the primary drivers of Nigeria's… Read more »
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Nigeria:
A Weakening Naira, Shrivelling Reserves, and Economic Saboteurs
Premium Times, 16 March 2020
... a currency is useful only because it can be used to settle transactions, to account for a business' performance, or as a store of value. Breach any of these and it is just a… Read more »
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Nigeria:
Coronavirus Pandemic, Oil Price War Have Reinforced Resolve to Diversify Economy, Says Govt
This Day, 16 March 2020
The federal government Monday declared that unfolding events of the past few months, the coronavirus pandemic and the oil price war have further reinforced its resolve to diversify… Read more »
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Nigeria:
Heritage Bank, Gezawa Seek to Boost Agric Sector
This Day, 16 March 2020
Heritage Bank Plc which has been adjudged the lead settlement bank for Gezawa Commodity Market (GCMX), has collaborated with key stakeholders to revolutionise the agricultural… Read more »
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Nigeria:
Govt Urged to Prepare for Oil Price Drop
This Day, 5 February 2020
Standard Chartered Bank's Chief Africa Economist Razia Khan, yesterday advised the federal government to initiate reforms that would prevent the economy from external shocks in the… Read more »
InFocus
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Nigeria's re-emergence as Africa's biggest economy comes as South Africa slumps into its second recession in two years and severe load shedding by power utility Eskom frustrates ... Read more »