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Nigeria pumped more crude oil in the first half of 2025, but the money did not follow. Despite a modest recovery in production, the Federal Government earned ₦16.2 trillion less than projected from oil between January and June, once again exposing the fragility of an economy still heavily tied to a volatile commodity. According to…
The emergence of the COVID-19 pandemic has been disastrous for all economies around the world including Nigeria. The downturn in the Nigerian economy precedes the epidemic, however, as GDP per head has been on the descent since 2015. Presently, everything is now very expensive. Inflation is as high as 18%, while food is at 23%….
To most oil-producing countries like Nigeria, the report that oil prices have crossed $70 per barrel for the first time in over a year would be great news. However, the reason for the increase is not a very palatable one. This Monday, Houthi rebels attacked a major oil facility in the world’s largest oil exporter,…
