COVID-19: World Bank Okays $11.5bn For Nigeria, Others           The World Bank has said it approved $11.5bn in lending to Western and Central African countries for 98 operations. The World Bank said this in its ‘Annual Report 2021: From crisis to green, resilient, and inclusive recovery’. The bank...

Nigeria Spent N445bn On Debt Servicing In Q2, Debts Hit N35trn           Nigeria spent N445.4bn on debt servicing payments in the second quarter of this year, the latest data obtained from the Debt Management Office have shown. From April to June 2021, Nigeria spent N322.7bn on domestic...

Nigeria, Others Losing $82bn To Gas Flaring Annually           By flaring, rather than utilising gas for power generation or other domestic needs, Nigeria and other nations involved in such act , could lose up to $82bn a year due to global gas flaring, says GlobalData report. The...

Nigeria’s Oil Reserves Dropped By 543m Barrels – OPEC           The 2021 Annual Statistical Bulletin of the Organisation of Petroleum Exporting Countries released on Wednesday showed a drop of 543 million barrels in the crude oil reserves of Nigeria. Figures on world proven oil reserves by country...

Buhari Says Nigeria Needs $400bn To Close Energy Shortfall         The President of the Federal Republic of Nigeria Muhammadu Buhari has said that Nigeria needs over $400bn to fund its critical energy needs. Buhari said that $300bn would be needed for electricity generation, transmission and distribution infrastructure...

Nigeria Recorded N2.29trn Fiscal Deficit In Q1, 2021             Nigerian economy took a battering in the first quarter of 2021 as the country recorded a fiscal deficit of N2.293 trillion or 6.43 percent of the year’s quarterly GDP. The Budget Office of the Federation (BoF) in its...