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It pointed out that rising oil exports would be the main growth driver for the country in 2021, while consumer spending and business investment were likely to be subdued because of persistently high inflation and the slow rollout of a Covid-19 vaccine.
President Muhammadu Buhari has expressed sadness over the death of former Saudi Arabia’s longest serving Oil Minister, Sheikh Ahmed Zaki Yamani, who died at a London hospital at 90.
Analysts at the US bank Goldman Sachs have raised the price forecast of crude oil by $10 per barrel for the second and third quarters of 2021.
Economic expert, Prof Uche Uwaleke has listed four major lessons to be learnt from National Bureau of Statistics (NBS) report which stated that Nigeria has exited the current economic recession.
The Organisation of Petroleum Exporting Countries (OPEC) Monday felicitated with Nigeria’s former Minister of Finance, Dr Ngozi Okonjo-Iweala, over her confirmation as the new Director General of the World Trade Organisation (WTO).
The Federal Government has inaugurated the Nigerian Upstream Cost optimisation Programme (NUCOP) to drive down the cost of crude oil production in the country.
The price of oil has risen to $60 per barrel in the international market as Iraq and Kazakhstan commit to the Organisation of Petroleum Exporting Countries, OPEC oil cut deal.
Analysts yesterday forecasted a faster economic recovery for Nigeria as crude oil prices, at $60 per barrel, hit a new high since February 2020.
Nigeria revenue profile may get a further boost in the days ahead as oil prices near $60 per barrel in a move propelled by the Organisation of Petroleum Exporting Countries (OPEC).
The world’s top oil exporter, Saudi Arabia, raised on Thursday the prices of all its crude oil that will go to the United States and Europe in March while leaving unchanged the official selling prices of its crude to its key market in Asia.
The Organisation of Petroleum Exporting Countries, OPEC, and non-OPEC member States, have withdrawn 2.1 billion barrels of excess oil from the volatile oil market, thus raising hope on market stability.
The Nigerian Economic Summit Group has predicted a growth rate of 2.9 per cent for the Nigerian economy in 2021, higher than the 1.5 per cent growth rate suggested by the International Monetary Fund.
The managing director of Financial Derivatives Company, Bismarck Rewane, has projected that the naira will depreciate to N420 against the dollar on the official window by the end of 2021.
“I am sure each and every one of us can recall the dire situation the industry was in, which was most dramatically illustrated on 20 April 2020 when the price of WTI went negative. It was a visceral day, and one often described as ‘Black Monday.’” Mohammed Barkindo said, speaking at the S&P Global Platts Americas Petroleum and Energy Conference.
The consumption of renewable energy cannot come anywhere close to overtaking oil and gas usage in the decades ahead, the Organisation of Petroleum Exporting Countries said on Wednesday.
The International Monetary Fund (IMF) in its World Economic Outlook (WEO) update released yesterday has projected that the Nigerian economy will grow by 1.5 per cent this year, slightly lower than the 1.7 per cent it had predicted for the country in its previous forecast.
Oil prices climbed with U.S. stock markets on Tuesday ahead of Joe Biden’s inauguration as U.S. president on optimism that more government stimulus will eventually lift global economic growth.
The Nigeria Union of Journalists (NUJ), on Friday, called for the arrest of Sheikh Ahmad Gumi, for saying journalists are criminals for calling bandits criminals.
The chairman of National Gas Expansion Programme (NGEP), Mohammed Ibrahim, says the federal government will launch a new pricing framework to regulate operations in the gas sector.
Wolves manager Nuno Espirito Santo is "totally confident" Mexico striker Raul Jimenez will be back from his fractured skull before the end of this season.
The Oodua Peoples Congress, OPC, in Oyo State said yesterday that it arrested four suspected Kidnappers in the Ibarapa, area of the state.
Countries seeking their own vaccine doses are making deals with drug companies that threaten the supply for the global COVAX programme for poor and middle-income countries, the World Health Organization said on Friday.
Up to 300 police officers serving in Ebonyi State command have been redeployed to force headquarters Abuja to shore up efforts to tackle ongoing insecurity in the north of the country.
An umbrella body for the 61 investors that secured different development lease agreements from the Federal Government through the Ministry of Industry, Trade and Investment and Trade Fair Management Board have petitioned the government against the planned concession of the Lagos International Trade Fair complex on Lagos Badagry Expressway.
Australian Prime Minister Scott Morrison said on Saturday he was “sickened” by allegations of sexual assault in Parliament House, adding that there was a “culture” problem at the government building.
The National Agency for Food and Drug Administration and Control (NAFDAC) has vowed to shut down packaged water production facilities that fail the Good Manufacturing Practice requirements.
The Lagos State Police Command has arrested a suspected fake soldier, Johnson Godday, for allegedly robbing one Onyebuchi Nwanga of his valuables in the Ogudu area of the state.