Presented on October 1 by the Minister of Finance, Colm Imbert, the 2019 budget forecasts GDP to increase by 1.9 percent this year before rising to 2.1 percent by 2021, reversing a trend that has seen the economy contract by 1 percent and 6 percent in the previous two years, respectively. The expansion is projected…
By Nick Cunningham OPEC and the United States are together adding enormous volumes of new supply, which together have softened the oil market. In October, OPEC hiked oil production to the highest level since 2016, back before the oil production cuts went into effect, according to a recent Reuters survey. The higher output, led by…
Damilola Shittu – Abuja The Nigerian National Petroleum Corporation (NNPC), on Thursday, said it has signed a six-month crude-for-product swap agreement otherwise known as Direct Sale-Direct Purchase (DSDP) with BP Oil International Limited, the trading arm of British Petroleum (BP), for the supply of Premium Motor Spirit (PMS) also known as petrol. In a statement…
John Paul – Abuja A fresh round of tremor measuring 3.0 Mercalli Intensity Scale, MIS, hit Maitama District in Abuja on Thursday, Nigerian Geological Survey Agency, (NGSA), has disclosed after receiving distress calls from residents in the area. Already, Federal Government has dispatched rescue and technical teams to the area to ascertain the level of…
