South Africa Enters Recession, Again Nigeria Emerges Africa’s Biggest Economy   Nigeria has overtaken South Africa as the biggest economy in Africa as the latter enters its second recession in two years. South Africa’s Gross Domestic Product shrank by 1.4 per cent in the fourth quarter of...

W/Bank Meets Over Fresh Loan For Nigeria   There are indications that the Executive Board of the World Bank will today (Tuesday) meet over a new loan sought by Nigeria. Details of the loan were still sketchy on Monday evening but it was gathered that the sum...

Unemployment Rate In Nigeria Hits 23 million   The National President, Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Saratu Aliyu on Thursday disclosed that 23 million Nigerians are presently unemployed. According to the National Bureau of Statistic (NBS) data on unemployment of 2010-2019,...

Nigeria Faces Competition Amid Surplus Global LNG Supply     Exporters of Liquefied Natural Gas, including Nigeria, have been told to brace for an oversupplied market and weaker-than-expected global demand depressing prices for their output for another two years. Nigeria, which is among the top 10 largest exporters...

IMF, World Bank Differ On Nigeria’s Growth Forecast   Contrary to the 2.1 per cent growth projected by the World Bank in the Nigerian economy, the International Monetary Fund (IMF) on Monday projected 2.5 per cent growth for it. The IMF projection, as contained in its January...

OPEC: Nigeria Records Largest Oil Output Drop In December   Nigeria, Africa’s top oil producer, recorded the largest production drop of 80,000 barrels per day in the Organisation of Petroleum Exporting Countries last month. The country exported less crude oil in December, according to ship-tracking data and...