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Tags: Economy

Nigerian economy in decline for more than a year

Nigerian economy in decline for more than a year

Lagos – Nigeria’s economy continued its slump and contracted for a fifth consecutive quarter in the three months to March after the oil industry shrank and agricultural expansion slowed. Gross domestic product (GDP) in Africa’s most-populous nation shrank 0.5 percent in the first quarter from a year earlier, compared with a revised 1.7 percent contraction… READ MORE

Nigeria lost N523 billion to gas-flaring in two years

Nigeria lost N523 billion to gas-flaring in two years

‘Local content policy attracts N1.8tr investment’ The Federal Government has lost N523 billion to gas-flaring between 2015 and 2016, data from the Department of Petroleum Resources (DPR) and Nigerian National Petroleum Corporation (NNPC) has shown. While DPR figures showed $850 million (N306 billion) loss to gas-flaring in 2015, NNPC latest report put losses to gas-flaring… READ MORE