Nigeria’s Oil Output Drops By 14% To An Average Of 1.5mb/d
Nigeria might be under pressure to fund its N13.8 trillion 2021 budget following a significant drop of its oil output by 14.08 percent in the first 10 months of 2020, according to data obtained...
In Five Weeks, External Reserves Dip By $269.47m
The country’s foreign reserves fell by $269.47m in five weeks, the latest figures obtained from the Central Bank of Nigeria revealed on Monday.
The reserves, which stood at $35.656bn as of November 4, fell to $34.925bn on December...
Naira In Mixed Performance As Forex Reserves Decline by $198m
The naira recorded a modest appreciation at the official window but was flat at the parallel market as Nigeria’s foreign exchange (forex) reserves dropped by $197.84 million to $35.01 billion at the weekend.
The naira appreciated...
Oil Rises above $50, Highest In Nine Months
The international oil benchmark, Brent crude, soared above the $50 per barrel mark on Thursday for the first time since early March, buoyed by hopes of a faster demand recovery as countries start to roll out COVID-19...
Nigeria’s Crude Oil Earnings Rebound By 116% – OPEC
The Federal Government’s earnings from the export of crude oil has recorded a rebound of 116 per cent, the Organisation of Petroleum Exporting Countries disclosed on Tuesday.
OPEC said the 116 per cent rebound was recorded in...
Oil Exploration Activities Decline, Threaten 40bn Reserves Target
Nigeria has recorded a significant 19.3 per cent decline in the level of oil exploration in the first 10 months of this year, a development which may be threatening the Federal Government’s plan to restore growth in...
