NIGERIA enjoyed a N318bn ($832.21m) increase in revenue during the month of February as a result of a rally in global oil prices as the production cuts introduced by the Organisation of Petroleum Exporting Countries (Opec) is having a positive effect on the market.
Heavily dependent on crude oil for survival, Nigeria lives...
NIGERIA may get some economic respite before the end of the year after analysts at US bank Goldman Sachs raised their price forecasts for crude oil for the second and third quarters of 2021 to about $75 a barrel.
Being a mono-economy with the federal government realising over 90% of its revenue from crude oil, Nigeria is...
NIGERIA has received a brief respite from her debilitating economic crisis after global crude oil prices rallied again last week rising to as high as $59.34 a barrel on Friday amid signs that global demand may pick up again as the coronavirus pandemic starts to clear.
Following the global economic shutdown as a result of the...
NIGERIA'S beleaguered economy has received a minor boost from the inauguration of President Joe Biden after global oil prices rallied slightly to over $55 a barrel following his swearing-in yesterday.
Being a mono-economy with over 90% of government revenue coming from the sale of crude oil, Nigeria has been hit hard by...
NIGERIA has been given a brief economic lifeline after crude oil prices recently rallied to over $50 a barrel due to a combination of news that a coronavirus vaccine will be soon be available and a tanker explosion in Saudi Arabia which created supply worries.
Following the outbreak of the global pandemic, industrial...
NIGERIAN is facing the prospect of further economic crisis as its crude oil sales to Europe are being threatened by increased US exports which are being sold at discounted prices this making their shipments more attractive to buyers.
Low in sulphur and very environmentally-friendly, Nigeria's Bonny Light Crude has been a...
