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Naira fall'll worsen Nigeria’s food, energy crisis — W’Bank
Economy

Nigeria facing existential threats – World Bank

The World bank on Wednesday alerted the regime of the President, Major General Muhammadu Buhari(retd), that Nigeria might be facing an existential threat due to its dwindling revenue. The international financial institution also cited the continued payment of trillions of naira on fuel subsidies by the government and the attendant economic challenges, as other causes. […]

Buhari
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Nigeria ranks fourth on World Bank debtors’ list

Nigeria under the regime of the President, Major General Muhammadu Buhari(retd), currently ranks fourth on the World Bank’s top 10 International Development Association borrowers’ list. Rising debt has pushed Nigeria from the fifth position with $11.7bn IDA debt stock as of June 30, 2021 on the World Bank Fiscal Year 2021 audited financial statements, known […]

Nigeria, others impacted by under-utilisation of mineral resources - Minister
Economy

Nigeria, others impacted by under-utilisation of mineral resources – Minister

Despite huge deposits, Nigeria and other African countries suffer from the under-utilisation of mineral resources, the Minister of Mines and Steel Development, Olamilekan Adegbite, has said. Adegbite made this known during the first International Conference and Exhibitions of the Nigerian Society of Economic Geologists in Abuja. Represented by the Director-General, Nigerian Mining Cadastre Office, Obadiah […]

China boosts ties with Nigeria, unveils new trade association
Economy

China boosts ties with Nigeria, unveils new trade association

In a bid to strengthen the Nigeria-China relationship, the Counsel General of the People’s Republic of China, Chu Maoming inaugurates Nigeria Anhui Entrepreneurs. According to ThisDay, the association was inaugurated at an elaborate ceremony in Oriental hotels, Victoria Island, Lagos, recently. The association’s Chairman, Wu Da Yang restated that move was thought of to further […]

OPEC+ lacks capacity to raise oil prices, says expert
Oil and Gas

OPEC raises Nigeria’s oil production quota despite low output

The Organisation of Petroleum Exporting Countries on Thursday raised the crude oil production quota approved for Nigeria again, as it increased it from 1.753 million barrels per day in May 2022 to 1.772 million barrels per day in June. OPEC had earlier raised Nigeria’s oil production quota from the 1.735 million barrels per day target […]

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