Debt Servicing May Limit Nigeria’s Productivity – OPEC     The servicing of debts by Nigeria may limit the Federal Government’s ability to increase economic productivity, the Organisation of Petroleum Exporting Countries said on Tuesday. OPEC, also disclosed that based on direct communication with Nigeria, the country’s crude...

In Five Years, Nigeria Earned $206bn From Oil – OPEC     Nigeria, Africa’s top oil producer, generated $206.06bn in revenue from crude oil exports in the last five years, the Organisation of Petroleum Exporting Countries has said. OPEC, in its 2020 Annual Statistical Bulletin released on Monday,...

Nigeria, China Finalising Negotiations On N43.24bn Ibadan Port     Negotiations between the Federal Government and China Railway Construction Corporation Limited for the construction of the Ibadan Inland Dry Port is nearing completion, the Nigerian Shippers’ Council announced on Sunday. The CRCC is the preferred bidder for the...

Nigeria’s Excess Crude Account Drops To $72m   Nigeria’s Excess Crude Account (ECA) now stands at $72 million as the country continues to grapple with an unprecedented revenue crisis not seen since the early eighties. The ECA account has now fallen by about 98% within the...

Nigeria’s Debt Now N28.63trn     Nigeria’s total debt portfolio stands at N28.63trillion as at 31st March, 2020, the National Bureau of Statistics has disclosed. Its website report titled “Nigeria domestic and foreign debt first quarter 2020,” said in the period under review, the country’ domestic debt hits...

Nigeria, Others Cut Oil Output To 30-year Low     Nigeria and other members of the Organisation of Petroleum Exporting Countries slashed their combined crude output in June to a three-decade low, according to an S&P Global Platts survey. The 13-member group pumped 22.31 million barrels per day,...