Economy

...Cost of debt servicing was 99% of total revenue in the first quarter of 2020 Almost all revenue is equal to the amount required to pay off the debt service obligationsFalling oil prices caused the budget deficit by 30%Oil represents…
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The Nigerian National Petroleum Corporation has said it anticipates a remittance of N1.27tn to the federation account. In a presentation to journalists on Thursday, Group Managing Director of the Corporation, Mallam Mele Kyari said the…
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…N7bn, $48m lost to PMS, crude oil theft in four months The Nigerian National Petroleum Corporation (NNPC) has disclosed that the fall in crude oil prices in the international market has hampered its projected N1.27 trillion remittance…
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Yields on Nigerian government debt have fallen since MarchAfrica’s biggest oil producer to hit record deficit this year Nigeria’s economy has been hit by the coronavirus pandemic Nigeria’s early move to tap cheap loans has improved…
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Marking the 31st anniversary of its establishment, the Nigeria LNG Limited says it has so far paid over $13bn into the federation account for feed-gas purchase since its inception. In a tweet on social media platform, Twitter on Sunday,…
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Speaker of the Nigerian House of Representatives, Femi Gbajabiamila, has called on the executive arm of government to adopt a feasible crude oil benchmark in the proposed amendment to the 2020 national budget. Speaking at a joint…
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China and G-20 countries have agreed to give debt relief to the poorest countries in the world which are classified as IDA countries by the World Bank. This is according to comments made by David Malpass, the World Bank president, on…
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*With coronavirus ravaging the world, one of the victims is the economy of the world in general and Nigeria’s in particular In March, the Finance Minister, Zainab Ahmed, revealed the preparedness of Nigeria to review the 2020 budget…
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Nigeria and other African economies are projected to record substantial revenue losses, particularly from the oil and gas sector, as the devastating effects of the Coronavirus pandemic continues its devastating toll on the various…
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Professor Wumi Iledare, former President, National Association of Energy Economics (NAEE), said the global oil price slump was an opportunity for Federal Government to exit the under recovery and over recovery challenges in the petroleum…
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