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Here’s what the low price of crude oil means for every Nigerian [Explainer]
Oil is almost selling for free because of the coronavirus pandemic. If you are Nigerian, this is how this global predicament affects you. Oil producers are now basically paying buyers to take the commodity off their hands because there’s nowhere to store the excess oil that is still being pumped A production cut deal reached between Russia, […]
Nigeria’s inflation rate rises to highest in 2 years
This is the highest Nigeria’s inflation has risen since 12.48% was recorded in April 2018. Inflation has been on the rise in Nigeria since President Muhammadu Buhari closed land borders in 2019 [Premium Times] Nigeria’s annual inflation rate has jumped to its highest since April 2018 with 12.26% (year-on-year) recorded for March 2020. According to […]
Nigeria revokes eleven oil licenses
The Nigerian Government has revoked Oil Mining Licences (OML) of 11 oil and gas companies operating in the Marginal Fields. The Guardian learnt that the affected companies include Movido–Ekeh, Goland – Otiti, Independent Energy – Ofa, Associated-Tom Shot Bank, Bayelsa – Ayala, Sogenal – Akeni and Delsigma–Ke. Others are Bicta–Ogedeh, Guarantee–Ororo, Eurafic-Dawes Island and Sahara–Tsekelewu. […]
Coronavirus alters outlook of Nigerian equity market
analysts see opportunity in healthcare stocks If the spread of Coronavirus(COVID-19) is not curtailed as soon as possible, the Nigerian equities market will continue to sink and the market will experience a further decline. As Coronavirus continues to rear its ugly head in Nigeria, the nation’s equities market is one of the worst-hit as dealers now trade remotely […]
Reprieve for Nigeria as oil stays above $32 on hopes of OPEC+ meeting Monday
.Saudi/Russia may cut production, end price war …Saudi calls emergency OPEC+ meeting by Isaac Anyaogu and Oladehinde Oladipo and Isaac Anyaogu and Oladehinde Oladipo On Apr 3, 2020 Oil is trading above $31 a barrel in London Friday, reversing earlier declines, as OPEC+ scheduled an urgent meeting next week after a historic slump in prices that has crippled the energy […]
Nigeria Can Drive Poverty Reduction in Africa, Says Oby Ezekwesili
The Presidential candidate of the Allied Congress Party of Nigeria, Obiageli ‘Oby’ Ezekwesili, has called on the federal government to intensify efforts in lifting citizens out of poverty. Ezekwesili’s statement was in reaction to a recently released World Bank report, which indicates that by 2030 about nine out of 10 extremely poor people in the […]