Nigeria’s Oil Rigs Decline By 30% As Exploration Drops       The number of active oil rigs in Nigeria declined by 30 per cent in October, with stakeholders lamenting the reduction in exploration activities in the nation’s oil and gas industry. Data obtained by our correspondent from the...

Nigeria, 69 Other Countries Get $99bn IMF Cash       The International Monetary Fund (IMF) on Monday released its updated economic funding support totalling $99 billion to 70 emerging and developing economies to tackle COVID-19 pandemic. In an emailed report, the IMF said it advanced $29 billion under...

Nigeria’s Strength Lies In Export Of Services - NEPC Boss       The Managing Director and Chief Executive Officer, Nigeria Export Promotion Council, Segun Awolowo, says Nigeria has an advantage over other African countries in the export of services. Awolowo said this at the Africa-China Trade Import and...

Internet Economy In Nigeria To Reach $180bn In 2025         The Internet economy has the potential to contribute $180bn to the economy of Nigeria and other African countries by 2025, according to a new study by Google and International Finance Corporation. The findings of the study made...

Nigeria’s Export To Rise By 8% With AfCFTA — Fed Govt       The African Continental Free Trade Area (AfCFTA) pact would cause 8.18 per cent rise in Nigeria’s exports across Africa. Speaking at a training for staff of the Investment Promotion Department of the Ministry of Industry,...

Nigeria To Lose $24bn Oil, Gas Investments In Six Years — AEC         Nigeria will lose $24 billion in investments in the oil and gas sector between 2020 and 2025, due to effects of the COVID-19 pandemic on the global petroleum industry, according to a report...