November Oil Production Increases To 1.44m Daily – Report     In a related development, Nigeria, Africa’s largest oil producer, produced 1.44 million barrels per day in November, a rise of 70,000 bpd from the previous month, as output from Bonny Light and Erha fields rebounded, according...

Conflict, Displacement Hindering Food Production In Nigeria, Nine Others – W/Bank     The World Bank says conflict, forced displacement, and low agricultural productivity hindered Nigeria and some African countries from becoming self-sufficient in food production. Washington D-based lender said this in a new report published on Wednesday,...

Foreign Trade Records N3.02trn Deficit In Q3, 2021   Nigeria’s total external merchandise trade recorded a N3.02 trillion deficit in the third quarter of the year (Q3 2021) as imports significantly outweighed exports, leading to unfavourable trade balance, the National Bureau of Statistics (NBS) said yesterday. However,...

Nigeria Records N8.9trn Trade Deficit In Nine Months     Nigeria recorded a negative trade balance of N8.9tn, between January and September, 2021, data from the National Bureau of Statistics have shown. Within this period, total foreign trade stood at N35.09tn, comprising N22tn imports and N13.1tn exports, leading...

Nigeria Imported Used Cars Worth N185bn In Q3, 2021     Nigeria Foreign Trade in Goods Statistics for Quarter Three, 2021has revealed that the country imported used vehicles worth N185.4bn. The Statistician-General, Mr Simon Harry who disclosed this yesterday said Nigeria’s total merchandise trade rose to N13.3 trillion...

Nigeria Revenue May Crash Further As OPEC Forecasts Supply Glut     Nigeria’s revenue from crude oil sale may drop further in the first and second quarters of 2022 going by the latest projection of surplus oil supply in the period under review by the Organisation of...