Tag
NIGERIA
News and stories about Nigeria
Nigeria was one of the few sub-Saharan African countries without an experience of internet shutdown in 2023 as the region lost $1.74 billion to government-induced shutdowns in the year.
Nigeria has been listed as the 22nd country with the most affordable fuel prices globally in a recent report comparing the costs of Premium Motor Spirit (PMS) worldwide.
The federal government has revealed that the electricity companies in Nigeria are short of N2 trillion ($2.5 billion) in capital to revive the industry and provide a steady power supply nationwide.
The United States has said that it provided Nigeria with over $1.2 billion in assistance in the past year.
Nigeria and other countries across the West Africa region are projected to see increased prices of staple foods
Nigeria is bracing for a potential surge in domestic debt, with indications that it could surpass N57.5 trillion.
Nigeria experienced a substantial decline of 59.84% in foreign capital from BRICS countries during the third quarter of 2023
The latest Stanbic IBTC PMI for Nigeria reveals that the private sector returned to growth for December rising from 48.0 recorded in November to 52.7 in December.
Nigeria is the largest importer of rice in Africa and the fifth largest in the world behind China, India, and Iraq. As per statistics from Statista, in 2022, Nigeria imported 2.1 million metric tonnes of rice.
Nigeria has recorded a notable influx of foreign capital from Niger, amounting to $15.27 million in the third quarter of 2023, despite the political upheaval caused by the coup in Niger.
Cocoa prices have seen strength due to cocoa supply concerns this year amid Nigeria’s dwindling cocoa output. LIFFE Cocoa futures at the time of writing traded in London for GBP 3,557 per ton has a year-to-date of 72.4% and it is not far from its 52-week high of GBP 3,634 per ton.
Riverside LNG, has revealed ongoing discussions regarding a potential agreement to supply gas to South Africa from the first quarter of 2024.