Consumer Credit Hits N1.6trn In January The value of consumer credit in the Nigerian economy fell by four per cent to N1.593 trillion in January 2021. The Central Bank of Nigeria (CBN) revealed this in its monthly economic report for January. It noted that at the aforementioned...

Oil Price Gains For Fifth Consecutive Month     The average global crude oil prices have continued to rise for the fifth consecutive month, the Organisation of the Petroleum Exporting Countries said on Tuesday. OPEC attributed the continued rise in international oil prices to the supportive oil market...

Nigeria’s Sept Oil Production Dropped By 1.74m Barrels – OPEC         Crude oil production in Nigeria dropped by 1.74 million barrels in September, figures from the just released oil market report of the Organisation of Petroleum Exporting Countries showed. In the OPEC report, dated October 13, the...

Oil Prices at Peak Level Since 2014 U.S. oil prices rose above $70 a barrel on Monday for the first time since November 2014 and Brent crude climbed to fresh highs, buoyed as a deepening economic crisis in Venezuela threatened the country’s already tumbling oil...

Oil prices hit a two-month high on Monday lifted by a tightening US crude market and the threat of sanctions against OPEC-member Venezuela. Brent crude futures were 52.90 dollars per barrel earlier in the day, their highest since May 25. U.S. West Texas Intermediate (WTI) futures...

OPEC said oil producers have kept their promise to cut output in accordance with a landmark deal designed to lift petroleum prices. As a result, prices rose in February as last year’s accord between OPEC members and some non-members gained traction, the Organisation of the...