The contraction in the oil sector indicates 7.26% points lower than the growth recorded in the previous quarter (Q2 2020, -6.63%)
The Minister said it was unrealistic for the government to continue with the subsidy regime.
Commercial banks in Nigeria are set to begin the recovery of N6.125 trillion borrowed to oil firms in a bid to braze themselves for recapitalisation.
The contribution of the oil sector to Nigeria’s Gross Domestic Product (GDP) is slightly on the rise, after witnessing a downward trend over a four-year period...
