Economy

There are indications FG may exceed N7.89trn 2021 revenue target as oil prices rise the Federal Government may be on course to meet and perhaps, surpass the projected oil revenue target in the 2021 budget if the recent rise in the prices…
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The National Assembly has passed the 2021 budget raising the proposed estimate of N13.082 trillion to N13.588 trillion.  This is an increase of N505 billion from the proposed figures presented by the executive.This budget was passed…
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Nigeria earned $25 million (approximately N9.5 billion) through the oil and gas sector in the third quarter of the year, according to data from the statistics office, NBS.The National Bureau of Statistics in the report, ranked the…
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Godwin EmefieleThe Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, has reiterated the need for the country to discontinue with heavy dependence on crude oil to guarantee public revenue and foreign exchange.Emefiele…
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*Nigeria consumes 70% fuel imported into W/AfricaGroup Managing Director, Nigerian National Petroleum Corporation, Mele Kyari, has said the only way to stop smuggling of petroleum products from Nigeria is to sell at the same price with…
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Nigeria’s energy sector is about to receive a major boost from huge investment decisions from China, which is eyeing key exploration operations in the oil and gas sector in Africa.According to a Modern Diplomacy report, China has a…
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Nigeria and four other oil producers on the continent could each be facing $20billion or more in lost export revenue this year as global oil demand is estimated never to exceed 2019 levels, with energy markets having reached a tipping…
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Nigeria earned N2.405 trillion from the oil and gas sector in the first six months of 2020 and N2.92 trillion in 2019, totalling N5.32 trillion in one and half years, from January 2019 to June 2020.The N2.405 trillion in the first six…
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Nigeria exported crude oil and gas worth $3.71bn from August 2019 to August 2020, latest statistics released by the Nigerian National Petroleum Corporation have shown.The NNPC also stated that Nigeria’s total crude oil and gas export…
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...Growth to shrink by 3.3%The World Bank has released its Africa Pulse Report 2020, advising oil producing countries in Africa to brace for at least $115 million in output losses this year, just as it predicted that real Gross…
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