Economy

"The rally in LNG has widened the economic incentive to switch to oil from natural gas in power generation" By Teddy Nwanunobi A research conducted by consultancy, Rystad Energy, has projected that sustained increase in the…
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The export component of Nigeria’s trade with its partners was valued at N5,079.44 trillion or 42.22%, the import was valued at N6,950.21 trillion or 57.78% while the trade balance stood at a deficit of N1,870.77 trillion, showing that…
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By Teddy Nwanunobi Nigeria’s LNG carrier, LNG Abuja II, arrived in Turkey on August 23, latest Turkish ship tracking data revealed. According to a Turkish agency, Hurriyet Daily News, the vessel has a capacity of…
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The Nigeria Government has failed to make oil revenue savings into the Excess Crude Account (ECA) despite increase in global oil price. Conversely, withdrawals have been made from the account, which saw it being depleted by $11.56…
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The Minister of Finance, Budget and National Planning, Zainab Ahmed, has explained that the Federal Government reviewed oil price and other key parameters in its projections for the 2022-2024 budgets to reflect present realities. …
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'...Fuel subsidy unsustainable' The former Governor of the Central Bank of Nigeria (CBN), Muhammadu Sanusi II, has decried the slow pace of progress in the country, adding that 70 per cent of the country’s challenges, including…
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Nigeria Extractive Industries Transparency Initiative (NEITI) disclosed that the sum of N79.9 billion was earned by Nigeria from the solid minerals sector in 2019. This was disclosed by Dr. Dieter Bassi, Technical Director at NEITI, in…
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By Teddy Nwanunobi The Federal Government has given a vote of confidence on the nation’s oil and gas sector, saying that it is still very important to the growth and development of the nation. Speaking at the launch of a book…
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Nigeria has the potential to generate about N10trillion as tax revenue in the next three years, says World Bank. To this end, the bank admonished the federal government to focus more on revenue-yielding avenues to achieve substantial…
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Billionaire businessman, Aliko Dangote has announced plans to expand his group’s operations in Cameroon, starting with the nation’s oil and gas sector. Bloomberg reports that Dangote made the disclosure on Wednesday after a meeting with…
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