Crude oil prices fall to $30 as COVID-19 erases gains from oil production cuts

Crude oil in Nigeria, Oil producing states in Nigeria, Department of Petroleum Resources, DPR yet to recognise Anambra Enugu and Kogis States as oil producers, West Africa’s crude inventory is building up as demand slows due to Coronavirus, Oil at $26, as Saudi Arabia in no retreat no surrender oil battle with Russia, Crude oil prices fall to $30 as COVID-19 erases gains from oil production cuts, Crude oil prices surge higher as Brent crude hits almost $30 per barrel , Brent crude plunges 5%, world’s second largest economy skips economic growth target

Oil prices slumped more than 50 cent a barrel on Monday, even after major producers agreed their biggest-ever output cut.

investors, Bulls gain momentum, as stimulus package lifts global financial markets, Bulls boost global financial market, gold hits 7 years high, Dangote, Tier-1 banks lead the bulls to close Nigerian stock market green

Bulls boost global financial markets as gold hits 7-year high

by Olumide Adesina

April 11, 2020

At the currency exchange rate under the investors and exporters (I&E) window, the naira dropped slightly to close at 386.8.

Gas is the new petrol - FG to Nigerian car owners, intervention fund, NCDMB, output cut, Petroleum Industry Bill to be passed by mid-2020, says Sylva, FG discovers crude oil in north, says there’s more , OPEC, non-OPEC countries to meet as Saudi, Russia price war affects Nigeria’s budget, FG considers fuel price reduction, OPEC deal: Nigeria to generate additional $2.8 billion revenue as FG reacts

OPEC Deal: Nigeria to cut oil output by 22% to 1.4mbpd

by Chike Olisah

April 10, 2020

OPEC and OPEC+ finally agreed to a historic cut in crude oil output as part of measures geared towards tackling ...

NDDC, Cash transfer, President Buhari, non-oil Exports, oil revenue, export revenue, FG Waives import duties for medical supplies, Orders Customs to expedite clearing, Presidency faults report on Kyari as Buhari didn’t cancel memos, appointments approved by him

How Nigeria recorded its highest non-oil exports ever in 2019

by Nairametrics

April 10, 2020

Nigeria recorded a total export revenue of $10.4 billion in 2019, the highest since 2008 which is farthest we can ...

Nigeria faces breaking point as India’s global crude oil demand drops by 70%

by Nairametrics

April 10, 2020

India, one of Nigeria's largest crude oil buyers has reduced its demand for crude oil by a whopping 70%.

Mrs. Zainab Ahmed, FEC reviews Ajaokuta-Kaduna-Kano gas project contract, approves $2.571 billion, Don’t over heat bleak economic outlook – Finance Minister, FAAC meeting ends abruptly as members disagree over revenue allocation for FG, States, LGs, Nigeria’s total debt portfolio as at December 2019 stands at N27.4 trillion, Accountant-General’s office fire outbreak: FG reacts to claims of missing N700 billion

Accountant-General’s office fire: FG reacts to claims of missing N700 billion

by Chike Olisah

April 10, 2020

As a fall out of the fire incident that recently gutted the office of the Accountant-General of the Federation, the ...

Oil Crises: OPEC deal gets further boost

Oil Crisis: OPEC deal gets further boost from African Petroleum Producers’ Organization

by Chike Olisah

April 10, 2020

The African Petroleum Producers’ Organization (APPO) has expressed its support for the resolutions that were reached during the 9th OPEC and ...

Index Ventures raises $2 billion to fund emerging tech startups

by Fakoyejo Olalekan

April 9, 2020

Global venture capital firm, Index Ventures has raised $2 billion to fund startups in their early and late stages.

NDIC donates N1 billion for COVID-19 relief fund

by Chidinma Nwagbara

April 9, 2020

The Nigeria Deposit Insurance Corporation (NDIC) has joined the growing list of corporate organisations and individuals who are donating to ...

Africa’s energy transition will cost an estimated $100 billion annually between 2020 and 2040 – AfDB

COVID-19: AfDB unveils $10 billion facility for Nigeria, others

by Chidinma Nwagbara

April 9, 2020

The AfDB has announced the provision of a $10 billion COVID-19 Response Facility for Nigeria and other regional member countries ...

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