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...

W/Bank Says Nigeria, 39 Others May Not Attain Pre-COVID-19 GDP Levels By 2026             The World Bank has said that Nigeria and 39 other countries may not return to pre-COVID-19 levels of Gross Domestic Product per capita even by 2026 despite projected rates of economic growth. It...

Nigeria, China Trade Volume Hit $20bn             The Chinese Ambassador to Nigeria, Ambassador Cui Jianchun, has said that the trade volume between his country and Nigeria was $20bn in 2020 despite the coronavirus pandemic. During the period, the envoy explained, China’s GDP also grew to $15.7tn from...