Daily Oil Production Drops to 1.25mbpd – OPEC Nigeria’s daily oil production dipped further to 1.25 million barrels per day in May, a report by the Organisation of the Petroleum Exporting Countries (OPEC) has said. This is despite the claim by the Federal Government and the...

The World Bank has affirmed its 3.3 per cent economic growth forecast for Nigeria in 2024 saying the nation’s economy was mildly buoyant in the early part of the year despite macroeconomic adjustments. 

Although the federal government has issued a state of emergency on food production, Nigeria’s food importation bill has surged to a five-year high in the first quarter of 2024.

President Ahmed Bola Tinubu has announced that the Executive Bill on the new minimum wage will soon be sent to the National Assembly for consideration to enshrine the agreed-upon wage as part of the country's law for the next five years or less. 

Nigeria’s Trade Balance Rises to $1.43bn, IMF Reports Nigeria’s current account balance has increased to $1.432 billion in 2024 despite the economic downturn ravaging the country, data from the International Monetary Fund’s World Economic Outlook shows. The IMF data indicates a posi­tive outlook for Nigeria’s econom­ic...

UK Attracts $85m Investment into Nigeria’s Manufacturing Sector Since 2020 The government of the United Kingdom (UK) has helped to attract $85 million investment into Nigeria’s manufacturing sector through its Manufacturing Africa programme since 2020. Deputy British High Commissioner to Nigeria, Jonny Baxter, disclosed this at...