The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso has blamed the excessive printing of the naira and other policies inutiated by his predecessor,...
The United States government has expressed disappointment in the decision of the Organisation of the Petroleum Exporting Countries Plus (OPEC+) to cut production output. Ripples Nigeria...
Brent, the global benchmark for crude oil is now trading below $90 after hitting a record high in recent months. Industry figures seen in the early...
Oil price is currently trading bearish following a push by President Joe Biden to bring down soaring fuel costs in the United States. In the early...
Russia has been banned from exporting about 90% of its oil to European countries, amid fresh sanctions by the European Union (EU) in its effort to...
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) oil output dropped to an average of 1.24 million barrels per day (bpd) from 1.25 million in February 2022....
The price of the Organisation of the Petroleum Exporting Countries (OPEC) basket of 13 crude oil samples closed Wednesday trade $110.46 per barrel. OPEC Secretariat calculations...
Nigeria was not mentioned among countries Europe will be heavily relying on to help cushion Russia’s threat to withhold supply of crude oil to the international...
Nigeria’s economy is in big trouble as oil prices continue to rise, and it is now trading at above $111 the highest level since 2011. The...
International oil price continues to trade above $100 per barrel despite the United States’ efforts to ensure the Russia, Ukraine crises does not put intense pressure...
The federal government has expressed sadness that it has failed to take full advantage of rising oil price, while other oil producing countries smiled to the...
Oil prices traded near to $100 per barrel on Tuesday as tension between Russia, the world’s largest crude producer, and Ukraine intensified. On Wednesday data from...
Today could be the day after seven years, that oil price could finally hit the $100 per barrel threshold as the tension between Russia and Ukraine...
As an oil-producing country and a member of the global oil cartel, Nigeria should be rejoicing that oil price is getting closer to $100, however, the...
Oil prices stayed close to $90, shaking off speculation that OPEC+ may decide to boost supply in the market, coupled with expectations of a rise in...
Nigeria will be losing over N14.9 billion daily as international oil price crossed above $90 a barrel on Wednesday. Data from Reuters revealed that Brent, the...
Skyrocketing oil price has thrown President Muhammadu Buhari’s administration a lifeline amid his government’s revenue problem, which has caused debt servicing to gulp 98% of 2021...
Oil prices continued their surge on Wednesday, trading at a level never seen under the administration of President Muhammdu Buhari. Reports from Bloomberg showed that on...
What should have been good news for Nigeria is set to be a fiscal headache as the international benchmark for oil prices surged above $85 per...
On Wednesday, the value of oil prices went up by 30 cents or 0.24 per cent to trade at $79.47 per barrel, while the United States...
President Joe Biden has said the United States will release 50 million barrels of crude oil from the nation’s Petroleum Reserve, in an attempt to reduce...
Brent crude surged above the $85 per barrel barrier on Monday morning, as expectations of a supply shortage in the coming months and travel restrictions fueled...
Nigerian states including local governments might face financial difficulties in the coming months as the rise in oil prices means a larger chunk of oil revenue...
For the first time in three years, oil prices jumped to above $80 on Monday as the Organisation of Petroleum Exporting Countries (OOEC) and its allies...
On Monday, oil prices sold above $80 per barrel, a massive 100 percent difference from the $40 per barrel projected in the 2021 budget. Monday closing...
The international oil benchmark, Brent crude, against which Nigeria’s crude oil is priced sustained its recovery as price rose by 3.5 percent, or $2.44, to $71.11...
The Federal government appears to be at a crossroads as Brent crude soared closer to $75 per barrel on Monday, June 21. According to data, the...
The price of the international crude benchmark, Brent crude, climbed to $73.17 per barrel on Monday, June 14. This is the highest level it has reached...
In the last two years, currency depreciation, and the drop in oil prices has cost wealthy Nigerians at least $18 billion in fortune. This is according...
The price of oil has hit a 30-month high following a positive demand outlook by the Organization of the Petroleum Exporting Countries (OPEC). The price of...
India has made a major oil decision that will affect the revenue of Nigeria. The Asian country has cut down on its importation of crude oil...
On Wednesday morning, Oil prices increased to the highest level for over a month propelled by the news of economic and oil demand rebound in the...
The Organisation of Petroleum Exporting Countries (OPEC) is set to boost production level amid increasing cases of COVID-19 which threatens the recovery of oil price which...
The Naira appreciated slightly against the U.S. dollar at the I&E window of the foreign exchange market on Wednesday. The appreciation saw the local currency exchanged...
The international oil benchmark, Brent crude, rebounded in the early hours of Tuesday morning, hitting the $67.88 per barrel mark. This is the highest level since...
On Friday morning oil price rose by 1 percent after dropping 3.8 percent on Thursday after observers predicted it will take weeks to remove the giant...
Oil pulled back Wednesday’s gain in the early hours of Thursday as the dust settled over concerns that a grounded ship blocking passage in the Suez...
Crude oil has crashed to just above $60 per barrel as it struggles to find its feet again. Brent, against which Nigeria’s crude oil is priced,...
The Nigerian Government has been earning more than it earmarked for the 2021 budget due to the rising prices of oil. The Federal Government’s budget had...
The uptick in crude oil price pushes the Federal Government closer to its revenue projection, as tight control on oil production by OPEC members is expected...
The double whammy of coronavirus pandemic resurgence and sharp volatility of oil prices are the biggest impediments to Nigeria’s comeback to economic growth in the year...
Oil price climbed past $49 per barrel on Thursday, with the optimism of a quicker rebound in demand after the rollout of COVID-19 vaccines moderated a...
Oil prices slipped by nearly 3% on Wednesday, wiping out most of the previous session’s gains as a build in the U.S crude stocks and rising...
Hello, and welcome to Business Roundup this week. Here, we bring you highlights of events that happened during the week -from the capital market, mainstream business activities...
Oil rose past $42 a barrel on Friday, increasing the gains recorded at the last session, after OPEC producers and allies agreed to meet supply cuts...
Oil prices met sour-sweet fate Tuesday morning as profit-taking caused Brent to retreat after early gain, while the West Texas Intermediate (WTI) sustained its rebound with...
Oil prices advanced by over $1 per barrel Monday morning on the back of production cuts and hints of measured recovery in demand as the coronavirus...
The Nigerian government, at its Federal Executive Council (FEC) meeting Wednesday, endorsed the revised 2020 budget, adopting a benchmark of $25 per barrel after months of...
Nigeria’s foreign reserves expanded by $1.136 billion in the eleven-day period between 1st and 11th May 2020, compared to their balance of $33.521 billion at the end of...
Oil prices recovered Friday morning after dipping marginally at the previous session with Brent crude inching near to the $30 mark. Prices had dropped on Thursday...
