In Three Years, Nigeria’s Export to Angola Hits $16.8m Nigeria's exports to Angola hit $ 16.8 million between 2020 and 2022, the Secretary of State for International Cooperation and Angola communities, Domingos Lopes, said. Lopes stated this at the first interactive Angola-Nigeria business forum held in...

Angola Emerges Top African Crude Oil Producer, Overtakes Nigeria Angola has emerged the topmost crude oil producer in Africa, upstaging Nigeria as the latter’s output level hits a new low. The direct communication data in the April 2023 monthly oil market report (MOMR) of the Organization...

Libya, Angola Overtake Nigeria In Crude Production – OPEC   Nigeria’s oil production plunged to 972,000 barrels per day in August 2022, as Angola and Libya overtook Nigeria by producing higher volumes of crude during the review month, the Organisation of Petroleum Exporting Countries (OPEC) has...

W/Bank Upgrades Nigeria’s Economic Growth Forecast To 1.8%       The World Bank yesterday upgraded its economic growth forecast for Nigeria in 2021 to 1.8 per cent, citing higher oil prices, structural oil sector reforms, and market-based flexible exchange rate management. This represents a 0.7 percentage point increase...

Nigeria’s Duty-free Export To US Shrinks To $351.73m         Nigeria’s export to the United States under a duty-free policy declined in the first nine months of 2020, recording $351.73m from January to September. According to the latest African Growth and Opportunity Act policy trade statistics, exports to...

Oil Exploration Activities Decline, Threaten 40bn Reserves Target           Nigeria has recorded a significant 19.3 per cent decline in the level of oil exploration in the first 10 months of this year, a development which may be threatening the Federal Government’s plan to restore growth in...