Nigeria’s Daily Oil Production Falls Below 1.2m Barrels   Crude oil production in Nigeria fell below 1.2 million barrels per day in December 2021 from 1.28 million bpd in the previous month, according to the Organization of the Petroleum Exporting Countries. The country produced 1.197 million bpd...

Nigeria’s Import Bill Rose To $8.92bn In Nine Months   Nigeria’s total import bill for the period January to September 2021 rose to $8.92bn from $4.29bn in the same period of 2020, according to a report. This was disclosed by an economist and Chief Consultant, B. Adedipe...

Nigeria’s Debt Stock Hits N39.6trn In 11 months   The Nigeria’s total debt stock rose from N32.9tn as of December 2020 to N39.6tn in November 2021. The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, in her presentation of the 2022 approved budget, disclosed that...

What Nigeria Gained from Twitter Ban - FG The Federal Government has said it has no regret on the steps it took on the suspension of Twitter. The government said that contrary to widespread claims, the country has gained a lot from the negotiations and the...

CBN Says Nigerian Economy Contracted In November   The manufacturing and non-manufacturing Purchasing Manager’s Indices for November 2021 remained below the 50 index points at 47.3 and 47.5 index points. PMI readings above 50.0 signal an improvement in business conditions, while readings below 50.0 show a deterioration. The...

Crypto Currencies’ Volatility Poses Financial Stability Risks For Nigeria – IMF   The International Monetary Fund says crypto currencies’ high volatility and valuation, as well as their increasing co-movement with equity markets will soon pose risks to financial stability in countries with widespread crypto adoption. The IMF...