Extortion At Nation’s Ports Cost Shipping Liners N3trn Yearly
The Executive Secretary and Chief Executive Officer of the Nigerian Shippers Council, Emmanuel Jime, yesterday said various agencies operating at the Nation’s seaports extort over N3 trillion from shipping liners coming...
Nigeria Loses $1.7bn Court Case Against JP Morgan
Nigeria has lost a $1.7 billion London court case against JP Morgan Chase & Co for the bank’s role in the transfer of millions of dollars to a former oil minister convicted...
Nigeria To Lose N5trn From Petrol Subsidy - World Bank
The World Bank has warned that Nigeria could lose around N5trillion in the year from subsidising petrol.
The World Bank, in its Nigeria Development Update (NDU) released yesterday in Abuja, said...
2023 Elections: Dollar Rises By 21%, FX Shortage Persists After Party Primaries
Dollar exchanged at N603 (average) at Lagos and Abuja parallel markets on Tuesday, indicating a worsening liquidity crisis in the foreign exchange market of Africa’s biggest oil producer.
Between...
Nigeria Lost N1.04trn Aircraft Repairs In Foreign Countries – FG
Nigeria lost $2.5bn (about N1.04tn at the official exchange rate of N415.63/$) to other countries in 2021 for the Maintenance, Repair and Overhaul services on Nigerian aircraft and other facilities,...
Nigeria’s Oil Output Drops By 23.8% To 1.024m bpd — OPEC
Nigeria’s oil output dropped Year-on-Year, YoY, by 23.8 per cent to 1.024 million barrels per day, mbpd, in May 2022, from 1.344 mbpd recorded in the corresponding period of...
