Oil Woes, As Bonny Light Drops By 34.8% In 11 Months         The average price of Bonny Light, Nigeria’s premium oil grade, has dropped by 34.8 percent to $42.9 per barrel in the past 11 months of 2020, due mainly to the prolonged Coronavirus pandemic, drop...

Fed Govt May Exceed N7.89trn 2021 Revenue Target As Oil Prices Soars         There are indications that the Federal Government may be on course to meet and perhaps, surpass the projected oil revenue target in the 2021 budget if the recent rise in the prices of...

Oil Revenue To Remain Subdued As Output Plunges By 15%       Despite the recent rise in oil prices, there are strong indications that Nigeria is not likely to be out of the woods in its petroleum revenue performance and budget funding, due, mainly to the significant...

Oil Prices: Afreximbank Predicts 10% Rise In 2021       Oil prices are expected to rise around 10 per cent over the next year, according to the Afreximbank African Commodity Index for the third quarter of 2020. The index, which measures commodity prices every quarter, said the oil...

Nigeria’s Oil Faces Threat As Electric Vehicle Sales Rise         The rising number of countries gradually shifting from fossil fuels and encouraging the adoption of electric vehicles may pose a major threat to Nigeria’s crude oil exports. Sales of electric cars topped 2.1 million globally in 2019,...

Oil Contributes 81% To N2.99trn Q3 Exports - NBS       Despite efforts made at boosting non-oil earnings, crude contributed N2.42 trillion to the country’s 2.99 trillion Q3 2020 export earnings, data released by the National Bureau of Statistics (NBS) yesterday showed. With the figure, crude’s share of...