INTERNATIONAL Monetary Fund (IMF) officials have raised their forecast for Nigeria’s economic growth in 2022 to 3.4% as a result of a significant rise in crude oil prices brought about by the Russia-Ukraine war.
In the aftermath of the lockdown brought about by the coronavirus pandemic, Nigeria was in dire straits as...
NIGERIA has received a big economic boost as a result of the ongoing war between Russia and Ukraine as the price of crude oil has surged towards $120 a barrel after the Organisation of Petroleum Exporting Countries (Opec) decided against a big production increase.
Over the last week, Russia and Ukraine have been involved in...
NIGERIA has been thrown an unexpected economic lifeline by the global economy as a combination of the political tension between Russia and Ukraine and the new US storm has rallied world crude oil prices to a lofty $93 a barrel.
Being a mono-economy with over 90% of federal government revenue coming from crude oil exports,...
NIGERIA is poised to enjoy a mini revival in her economic fortunes as the Organisation of the Petroleum Exporting Countries (Opec) and its allies are set to increase their combined output by 2m barrels per day from August to December to meet recovering demand.
Following the collapse in global crude oil consumption in the...
MEMBERS of the Organisation of Petroleum Exporting Countries (Opec) have agreed to repeal some of the production cuts they introduced in a bid to rally prices after indications that global demand looks set to pick up later this year.
Following the collapse in global crude oil consumption in the wake of the coronavirus...
NIGERIA has enjoyed a slight growth in her foreign reserves which rise to $34.85bn as of April 1 from the $34.41bn which they were on March 11 as a result of a combination of the Central Bank of Nigeria's (CBN) naira-for-dollar policy and rising oil prices.
In December last year, the CBN unveiled a new financial policy that...
NIGERIA enjoyed a N318bn ($832.21m) increase in revenue during the month of February as a result of a rally in global oil prices as the production cuts introduced by the Organisation of Petroleum Exporting Countries (Opec) is having a positive effect on the market.
Heavily dependent on crude oil for survival, Nigeria lives...
NIGERIA may get some economic respite before the end of the year after analysts at US bank Goldman Sachs raised their price forecasts for crude oil for the second and third quarters of 2021 to about $75 a barrel.
Being a mono-economy with the federal government realising over 90% of its revenue from crude oil, Nigeria is...
NIGERIA has received a brief respite from her debilitating economic crisis after global crude oil prices rallied again last week rising to as high as $59.34 a barrel on Friday amid signs that global demand may pick up again as the coronavirus pandemic starts to clear.
Following the global economic shutdown as a result of the...
NIGERIA'S beleaguered economy has received a minor boost from the inauguration of President Joe Biden after global oil prices rallied slightly to over $55 a barrel following his swearing-in yesterday.
Being a mono-economy with over 90% of government revenue coming from the sale of crude oil, Nigeria has been hit hard by...
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