Stubborn inflation, fragile economic growth may force MPC to retain all rates
Whereas the nation waits till later today, September 26, 2017 for the communiqué at the end of the two-day Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN), economists have reached consensus that the best option for the…
OPEC deepens Nigeria’s economic recovery by staying oil cut exemption
A star indications that Nigeria’s economy is set to sustain recovery from recession emerged Friday following the meeting of the Joint Ministerial Monitoring Committee of the Organisation of Petroleum Exporting Countries (OPEC) and non-OPEC members which ended in Vienna with…
Nigeria economy gaining momentum on steady oil rise to $56 from refinery demand
As the number of U.S. rigs drilling for new production fell and refineries continued to restart after getting knocks by Hurricane Harvey, global oil prices strengthened on the rise to $56 on Monday trading. Analysts say the development is good…
Nigeria lacks what it takes to resist oil cut if OPEC decides—Expert
A senior analysts on international oil politics, Dr. Kinsley Amodu has reacted to the statement credited to the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu in an interview with the Financial Times that the country was still suffering…
Fears of crude oil price fall heighten as Nigeria, US, Libya’s outputs rise
The observed stability of light sweet crude in hitherto volatile Nigeria and Libya oil communities, plus stable US Shale explorations are becoming serious threats to global oil price which steadied at over $50 recently. The increase according to the US…
FG may be on daily loss of N58bn if production exceeds 1.8mbpa
With Nigeria agreeing the Organisation of Petroleum Exporting Countries’ (OPEC) new condition not to cross 1.8mbpa, the country may begin to lose about N58bn daily if oil production exceeds the new mark. Though it was a voluntary agreement with OPEC…
OPEC compels Nigeria to cap oil output at 1.8mln bpd
Indication emerged on Monday that the Federal government has agreed to OPEC’s terms to voluntarily cap its oil output at 1.8 million barrels per day (bpd) once it reaches that level. This was announced by the Kuwaiti Oil Minister Essam…
Can 2017 budget survive if OPEC compels Nigeria to cut output on falling oil price?
Indication has emerged that the Nigerian economy as planned to be driven by the 2017 national budget may be under serious threat, if the speculation making the rounds on the possibility of oil cartel, OPEC, compelling Nigeria to join production…
Global oil price on recovery trends as market remains under pressure
Oil prices recovered some losses on Monday after a three percent fall in the previous session, but markets remain under pressure from high drilling activity in the United States and ample supplies from producer club OPEC. Brent crude futures, the…
FEC approves policy to make gas a hub of our economy—Kachukwu tells PENGASSAN
More details have emerged on the federal government’s new drive to grow the economy suing the oil and gas sector. In his address to participants at the fifth triennial national delegates’ conference of the Petroleum and Natural Gas Senior Staff…
