Oil: Nigeria Has Highest Personnel Cost In Global Petroleum Industry   Stakeholders have raised concerns over the country’s production costs, noting that Nigeria has the highest personnel cost among global operators, thus making it difficult to produce oil at a profitable price of below $10/barrel. According to...

COVID-19, Threat To 13 million Jobs In Nigeria – UN     The COVID-19 pandemic may lead to the loss of 13 million jobs in Nigeria, the World Food Programme of the United Nations declared on Wednesday. According to the agency, Nigeria needs urgent financial intervention to boost...

Nigeria’s External Reserves Up By 7% In 21 Days     The continuous increase in Nigeria’s external reserves appears to have been sustained as it recorded a third consecutive week of growth at the end of last week. Available data from the Central Bank of Nigeria (CBN)...

We’ll Ease Nigeria, Others’ Debt Burden - Chinese Minister   Chinese Foreign Minister, Wang Yi, has said China will work with other G20 members to implement the debt service suspension initiative to ease the debt burden of Nigeria and other African countries. In a statement by China’s...

Nigeria’s Active Oil Rigs Drop By 24%   The number of active oil rigs in the country fell by 23.8 per cent to 16 in April amid the coronavirus-induced collapse in prices and demand for crude. Data obtained from Baker Hughes Incorporated and the Organisation of Petroleum...

Oil Crash: Is Nigeria's Economy in 'Soup'? By Rahma Oladosu   Can we agree less with Wall Street Journal (WSJ)? The American-owned and world-famous media organisation, in a recent report said, as economic pain ripples to the developing world, Nigeria’s dependence on oil puts its economy under...