The Organisation of the Petroleum Exporting Countries says crude oil prices dropped by 2.1 percent in November 2021. OPEC in its Oil Market Report for December 2021, disclosed that crude oil spot declined in November following concerns regarding the emergence of the new Omicron COVID-19 variant. The report also disclosed that crude oil futures prices ended November…
The latest global passport index has ranked Nigeria 103 out of 116 countries with the most powerful international passports in the world. Nigeria is sharing the 103rd position with Ethiopia in the 2021 Henley Passport Index. A Nigerian passport, according to the report only guarantees visa-free access to 45 countries of the world. The 2021 Henley Passport…
A new report released by the National Bureau of Statistics shows that Nigeria’s trade on the international market has dropped further. The report puts Nigeria’s total foreign trade at thirty-five point zero-nine trillion naira, between January and September this year. The figure is made up of twenty-two trillion naira of imports, and thirteen point one trillion-naira export,…
The International Monetary Fund has said that food inflation remains a major problem in Nigeria. The IMF is of the view that rising food prices is the major cause of the general inflation in Nigeria and other neighbouring countries. The international financial regulator says that other parts of the world are also suffering from rising inflation, which…
Some stakeholders in the Nigerian ports are not happy with the decision by the Federal Government on the use of a private company for the tracking of cargo heading to the country. Frank Tietie, who is the Executive Director of Citizens Advocacy for Social and Economic Rights, said the selection process used by the Minister of Transport,…
The Central Bank of Nigeria has unveiled the 2022 economic policy direction. The CBN Governor, Godwin Emefiele, unveiled the policy in his keynote address at the 2021 Annual Bankers’ Dinner of the Chartered Institute of Bankers of Nigeria held in Lagos. Emefiele said the policy will sustain improved access to finance and credit for households and businesses.…