Naira May Depreciate To 475/$, Says Rewane         The naira will weaken in the parallel market as oil prices stay at $40-$42 per barrel and likely depreciate to 470-475 against the dollar in November and December, the Managing Director/Chief Executive Officer, Mr Bismarck Rewane, has said. Rewane...

Investments In 44 Free Trade Zones In Nigeria Nets $27bn         Nigeria’s investments in the 44 free trade zones across the country currently stand at over $27 billion, the Managing Director, Nigeria Export Promotion Zone Authority (NEPZA), Prof. Adesoji Adesugba, has said . He said the investments...

COVID-19 Threatens African Countries’ IGR, Others       The coronavirus (COVID-19) pandemic; has threatened African countries’ internally-generated revenues (IGR) thereby impeding their ability to fund essential services in education, health and infrastructure sectors of the economy. According to the 2019 Human Development Report, Africa will not be unable...

AfDB Develops 3-year Project For Revenue Generation In Extractive Industry           The African Development Bank (AfDB) has developed a three-year project in response to demands by member countries for technical assistance to monitor revenues generated from their extractive industries. The AfDB made this known during a virtual...

Oil, Gas Exports Hit $3.71bn In 13 Months       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 sale...

Nigeria To Lose $24bn Oil, Gas Investments In Six Years — AEC         Nigeria will lose $24 billion in investments in the oil and gas sector between 2020 and 2025, due to effects of the COVID-19 pandemic on the global petroleum industry, according to a report...