Global FDI Increases By 15% Despite Uncertainty     Global foreign direct investment (FDI) flows are expected to bottom out in 2021 and recover some lost ground with an increase of 10 to 15 per cent, according to UNCTAD’s World Investment Report 2021. It showed that FDI flows...

Africa Lost Over $190bn In GDP To COVID-19 – AfDB       President of the African Development Bank Group (AfDB), Dr Akinwumi Adesina, yesterday said the economy of Africa has lost over $190 billion due to the effect of the COVID-19 pandemic. Adesina, during the AfDB’s 2021 virtual...

FG Targets $70m Profit From Crude Supply To Indonesia     The Nigerian National Petroleum Corporation (NNPC) through its subsidiary, Duke Oil, has sealed a pact to supply 30,000 barrels per day crude oil supply to Indonesia’s state oil corporation, Pertamina and Indian Oil Corporation. The development, which...

Rise In Oil Price Continues, Inches Closer To $75pb     The price of crude oil crept higher yesterday, almost hitting the $75 per barrel mark as industry data pointed to a substantial decline in United States crude stockpiles coupled with rising fuel sales in India as...

FG Borrowed N1.3trn In Four Years To Subsidise Power Consumers - W/Bank     The Federal Government has borrowed a total of N1.3tn since 2017 to ensure that generation companies and gas suppliers received enough payments to continue generating electricity, the World Bank has said. The bank said...

Emirates Airline Incurs $5.5bn Loss       Emirates Airline plunged into a $5.5 billion annual loss — its first in more than three decades — after the coronavirus pandemic devastated the aviation industry. The last time the airline reported a loss was in the 1987-88 financial year, when...