W’Bank Warns Incoming Govt, Projects Weak Economic Growth, Others The World Bank has said that the incoming administration in Nigeria will face weak economic growth and policy challenges this year. In its latest Africa’s Pulse report for April 2023, published on Wednesday, the bank predicted...

Global Oil Price Rises as OPEC+ Cuts Production Brent, the global benchmark for crude oil, jumped in price on Monday, following the voluntary production cuts by member nations of the Organisation of Petroleum Exporting Countries, as well as OPEC allies, jointly referred to as OPEC+. Oil...

OPEC, Allies Begin Fresh Oil Production Cuts May   The Organisation of Petroleum Exporting Countries and its allies, referred to as OPEC+, on Sunday, announced voluntary cuts to their production of crude oil, amounting to about 1.15 million barrels per day, calling it a “precautionary measure”...

NNPCL Says Oil Production Now 1.6 Million Barrels Daily   The Nigerian National Petroleum Company Limited (NNPCL) on Monday, said Nigeria’s oil production had increased to 1.6 million barrels per day, a few millions short of the 1.8 million barrels per day quota allocated to Nigeria...

Nigeria’s Oil Production Rises By 1.9% To 1.258 mb/d — OPEC   Nigeria’s oil production has risen month-on-month, MoM, by 1.9 per cent to 1.258 million barrels per day, mb/d, in January 2023, from 1.235 mb/d recorded in December 2022. The figures excludes Condensate. The Organisation of...

OPEC Says Nigeria’s Oil Output Rises By 4% To 1.235 mb/d   Nigeria’s oil output rose by four per cent month-on-month, MoM, to 1.235 million barrels per day, mb/d in December 2022, from 1.186 mb/d in November 2022. On Year-on-Year, YoY performance, the nation’s oil output also...