Nigeria, Others Lose N380bn Annually To Gulf Of Guinea Piracy Nigeria and other countries in the Gulf of Guinea have lost N380 billion yearly to sea robbers and pirates between 2015 and 2019. Data presented at the Nigerian Admiralty Colloquium in Lagos also showed that...

Nigeria’s Exact Crude Oil Production Volume Unknown, Says NEITI       The exact volume of crude oil produced in Nigeria, especially at the deep offshore fields, is not known by anyone, the Nigeria Extractive Industries Transparency Initiative said on Thursday. Executive Secretary, NEITI, Orji Ogbonnaya-Orji, disclosed this in...

Is Nigeria in Trouble?, By Gidado Y. Shuaib The title of this piece is a poser triggered by a blunt remark by Mr. Godwin Obaseki, the formidable political arch-rival of a former Edo State Governor and immediate past Chairman of the All Progressives Congress (APC),...

‘Nigeria Can Export $3bn Worth Of Cocoa Derivatives Under AfCFTA’       The federal government has disclosed that by taking advantage of the African Continental Free Trade Area (AfCFTA), Nigeria has the capacity to export $3 billion worth of derivatives from cocoa and $300 million from the...

IMF Raises Nigeria’s Growth Forecast To 2.5%       The International Monetary Fund has raised Nigeria’s growth forecast for 2021 to 2.5 per cent from 1.5 per cent earlier announced in January. It disclosed this in its World Economic Outlook for April with the theme ‘Managing divergent recoveries’,...

Oil Rally Pushes Nigeria’s Revenue Above Budget Estimate       The upturn in the price of the international oil benchmark, Brent crude, has pushed Nigeria’s oil revenue above the estimate in the 2021 budget. Brent, against which the country’s crude oil is priced, has been trading more than...