AMERICAN oil giant Chevron is making 25% of its Nigerian staff redundant as the crippling effects of the coronavirus lockdown and the subsequent collapse in global petroleum prices and demand are taking their toll on the economy.
With about 90% of government revenue coming from the sale of crude oil, Nigeria is heavily...
NIGERIAN government revenue has fallen by 65% in 2020 when compared with the same period last year as a result of the devastating economic impact of the coronavirus lockdown according to finance minister Zainab Ahmed.
Being a mono-economy, Nigeria is heavily dependent on crude oil, with about 95% of government revenue coming...
PRESIDENT Muhammadu Buhari has inaugurated a national steering committee to oversee the development of the Nigeria Agenda 2050 and Medium-Term National Development Plan to succeed Vision 20:20 and the 2017-2020 Economic Recovery and Growth Plan (ERGP).
Back in the 1990s, Nigeria launched Vision 20:20, which was aimed at...
NIGERIA is poised to miss out on $600m that could have been gained from the imposition of a 35% import tax on 3m pre-paid electricity metres after the federal government decided to waive the levy on the machines due to be imported from China.
Currently grappling with a crisis in the electricity sector, the Nigerian...
WORLD Bank officials have delayed the first tranche of a $2.5bn loan to be paid to Nigeria as part of the Covid-19 relief package because a meeting of its board of directors due to hold yesterday where the payment was to be authorised was postponed.
Due to the economic impact of the coronavirus lockdown, Nigeria was in dire...
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