OPEC Raises Nigeria’s Oil Output As Saudi Arabia Cuts Production
Members and non-members of the Organisation of Petroleum Exporting Countries, referred to as OPEC+, on Sunday, agreed to cut crude oil production volumes in order to ensure global oil market stability, but allowed Nigeria, Congo...
Simply, the Cost of Fuel Subsidy in a Layman's Language
1. Nigeria has crude oil in abundance but it is not the crude oil you use in powering your generator and other machineries.
The crude oil needs to be converted to some usable products.
This process converting...
IMF To Nigeria: Expect Significant Reduction In Foreign Loans
The International Monetary Fund (IMF) has warned Nigeria to expect a significant reduction in foreign loans as the global economy continues to experience new shocks and contractions.
The IMF Deputy Divisional Chief, Wenjie Chen, stated this during...
Nigeria’s Borrowing From World Bank Hit $14.34bn In Q1, 2023
Nigeria’s borrowing from the World Bank has reached $14.34bn as of March 31, 2023.
This was an increase from the $13.93bn debt recorded by the Debt Management Office (DMO) as of December 31, 2022.
This means that...
Nigeria Has Final Say On Petrol Subsidy Removal - IMF
The International Monetary Fund (IMF) has said Nigeria’s plan on whether to remove petrol subsidy or not remains a political and domestic decision for the country’s leadership.
Speaking at the Sub-Saharan Africa Regional Economic Outlook press...
Debt: Nigeria Defaults In Repayment To China, Penalties Stand At N41. 31bn
Nigeria has failed to service its debt to China which has accumulated to N110.31 billion in the last two years. According to report by the Debt Management Office (DMO), the China debt stock...
