Nigeria’s Rig Count drops By 55.34% In Q1, 2021       The rig count of Nigeria has dropped by 55.34 per cent in the first quarter, January–March, 2021 to 19, according to data collated from recent reports of the Organisation of Petroleum Exporting Countries, OPEC. The rig count,...

‘Nigeria Lost N5.5trn To Cybercrimes In Ten Years’       The Chief Strategy Officer, Deloitte West Africa, Mr. Tope Aladenusi, has stated that Nigeria lost N5.5 trillion to fraud and cybercrimes in 10 years. Aladenusi, who disclosed this at a recent webinar hosted by First Bank of Nigeria...

Nigeria Faces Serious Debt Sustainability Risk - LCCI       The Lagos Chamber of Commerce and Industry (LCCI) has expressed concerns that Nigeria faces serious fiscal sustainability risk over its national debt profile. LCCI noted that the country’s debt-to-GDP ratio, which the government is using as a measure...

‘Nigeria Exports To Indonesia Now $700m’       Director of the Indonesian Trade Promotion Centre, Hendro Jonathan, said Nigeria exported goods worth 700 million dollars to Indonesia last year. He explained that while Nigeria’s total export to the Asian country was $700 million, its import from Indonesia $300...

Nigeria Businesses Lose $29bn Yearly To Poor Electricity – W/Bank       The World Bank on Wednesday said businesses in Nigeria lose about $29bn annually as a result of the country’s unreliable electricity. It also observed that Nigeria had the largest number of people without access to electricity...

Nigeria’s Trade Deficit Rises By 49% To $2.5bn     The nation’s trade deficit rose month-on-month by 49 percent to $2.5 billion in January from $1.69 billion in December last year even as foreign trade stood at $8.14 billion during the period. Also capital importation dropped by 31...