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BUSINESS NEWS
Business and Economic News from Nigeria
NLNG) signed the engineering, procurement and construction (EPC) contract for Train 7, its major gas expansion plan
Sahara Group has donated medical equipment to the public health institutions in the country to boost healthcare delivery
Although the energy industry provides more than 10 million jobs with almost 8% of the country’s GDP, the US is less dependent on oil compared to average OPEC countries. However, its shale industry remains vulnerable to severe credit crunch and bankruptcies.
As part of the FG efforts to diversify the economy away from volatile oil revenue, it inaugurated the Ajaokuta Presidential Project Implementation Team.
The American WTI fell by 1.55% to sell for $25.38 per barrel, early Wednesday morning after surging 6.8% on Tuesday. Brent crude was down by 2.03% to sell for $29.37 per barrel.
Being a market leader is great, but in times of economic despair, it can quickly turn you into prey.
Bitcoin successfully went through its third halving in its history on Tuesday, seeing its daily supply of new bitcoin reduced by half
The latest move to develop ICT parks across the country may finally be the step in the right direction we have all been waiting for.
"This reduction in production provided excellent optics encouraging other OPEC + members to comply and even offer additional voluntary cuts, which should quicken the global oil markets' rebalancing act."
One of the most immediate impacts of the Pandemic is the fact that the oil price crash will have negative implications for banks' revenue targets.
We attribute the low level of disposable income to high unemployment rates and declining job opportunities in the formal sector.
Covid-19 does posses some risk for the company, particularly in the Nigerian context.