A drop in Nigeria's primary source of foreign exchange earnings, crude oil, has become a source of worry for exchange rate stability.
The Central Bank of Nigeria has called for increased investment in the non-oil sectors as a source of...
Nigeria’s economy is in a tight corner, as Brent crude’s value has dropped by half since the worst pandemic in recent history started early this year.
Naira weakened today at the black market as dollar trading at N454 to $1 as demand increased from foreign investors and businesses with dollar payment
"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."
Nigeria’s currency, the naira, is presently experiencing more pressures than ever before, based on negative macro fundamentals
The dangerous exposure of Nigeria to the crude oil price crash and low demand globally will be a huge blow to the country’s ability to meet its revenue target for the revised budget
OPEC and OPEC+ finally agreed to a historic cut in crude oil output as part of measures geared towards tackling the global oil crises.
Nigeria recorded a total export revenue of $10.4 billion in 2019, the highest since 2008 which is farthest we can trace Nigeria's export data.
India, one of Nigeria's largest crude oil buyers has reduced its demand for crude oil by a whopping 70%.
The Nigerian Economic Summit Group said the Government needs to develop some short-term reforms and take actions to reduce the impact of the Coronavirus pandemic on the Nigerian economy.
A monitored report suggests that Nigeria has reduced the official selling prices for its crude oil so as to clear an inventory of unsold April-loading cargoes.
