In Just Three Months, Oil Sector FDI Drops By $17.12m Foreign Direct Investment in Nigeria’s oil sector dropped by $17.12m in the third quarter of 2018, the Nigerian Natural Resource Charter stated on Wednesday. According to the NNRC, foreign investments in the sector plunged from $24.85m...

Egbin, Shiroro Hydropower Plants Record Decline In Power Generation The nation’s biggest power station, Egbin, and one of the three hydropower plants, Shiroro, have recorded significant declines in their output. Six of the nation’s 27 power plants were idle on Monday, according to industry data obtained...

IATA Estimates Global Industry Profit Of $35.5bn In 2019 The International Air Transport Association (IATA) has estimated that the global airline industry net profit will hit $35.5 billion in 2019, slightly above the $32.3 billion expected net profit in 2018. This was revised down from $33.8...

As Sell-offs Persist, Stock Market Investors Lose N89bn The nation’s stock market continued its downward trend as investors recorded more losses at the end of trading on the floor of the Nigerian Stock Exchange on Monday. The market capitalisation of equities listed on the NSE dropped...

Imported Raw Materials Gulp N837bn In Eleven Months Local sourcing of raw materials has dropped significantly since the country emerged from recession and manufacturers could access foreign exchange. The Manufacturers Association of Nigeria confirmed this in its perspectives on the 2019 budget. “The aggregate local sourcing of...

In 9months, Nigeria Loses A Total N197bn To Gas Flaring Oil and gas firms operating in the country flared a total of 215.9 billion standard cubic feet of natural gas in the first nine months of last year, amounting to a potential loss of N197bn. Data...