CBN’s plans to end multiple rates to weaken naira, hike inflation, says Moody’s
There are strong chances for the Nigerian economy to reverse back to weaker naira regime, higher fuel price and hyper inflationary regime should the Central Bank of Nigeria (CBN) put paid to the pressure of International Monetary Fund and even…
OPEC’s claims of Nigeria’s excellence in oil sector data deceitful—Expert
Barely few days after the Organisation of Petroleum Exporting Countries (OPEC) has said that Nigeria has maintained an excellent record in the submission of data from its oil and gas sector in the past three years, industry experts have viewed…
OPEC official sees oil market balancing before year end
Contrary to earlier speculations that global oil prices will begin to balance up some time next year, a top official of the Organisation of Petroleum Exporting Countries (OPEC), Suhail al-Mazrouei said Tuesday he expected the global oil market to be…
More Nigerian dormant oil rigs activated due to rising oil prices–Report
A new report on Nigeria’s oil industry activities released by Baker Hughes Incorporated and the Organisation of Petroleum Exporting Countries (OPEC), has revealed that the number of active oil rigs in Nigeria rose in October by one to 28, compared…
Fresh reason emerges on why FG suddenly thinks selling crude in African market
The latest bad news for the largest economy in Africa, Nigeria today, is that its biggest oil buyer, India has switched purchase loyalty to the United States. Before now, Nigeria hardly sells to African nations but focused on Europe, Middle…
Kachukwu opens up, agrees falling oil price’ll hit 2017 budget bad
Minister of State for Petroleum Resources, Dr. Ibe Kachikwu on Thursday in Abuja, agreed that the combined forces of emerging crash in crude oil price to about $42.5 per barrel and the likelihood of Nigeria being forced to join other…
Relief for Nigerian economy as OPEC extends oil output cut by 9 months to squeeze glut
Chances of sustaining the economy and even driving the 2017 budget got brighter yesterday, Thursday following the decision of Organisation of Petroleum Exporting Countries (OPEC) to extend cuts in oil output by nine months to March 2018. Economic analysts are…
Anxiety as OPEC mulls asking Nigeria to cut oil production
At a time the Nigerian economy is looking onto rising output and oil price to rescue the economy from recession, indication has emerged that the Organisation of Petroleum Exporting Countries (OPEC) may be convinced soon to ask Nigeria and Libya…