AGS NEWS – Nigeria’s daily crude oil production saw a slight increase to 1.307 million barrels per day (mbpd) in July, according to the Organisation of the Petroleum Exporting Countries (OPEC) on Monday. This figure contrasts with claims by President … Continue reading Nigeria’s crude oil production now 1.3mbpd – OPEC
AGS NEWS – The continuous decline in Nigeria’s monthly oil production since January 2024 has led to a revenue loss of approximately N636.3 billion, according to findings by Sunday PUNCH. Data from a Federal Government agency revealed that Nigeria produced … Continue reading Nigeria loses N636bn in revenue due to decline in oil production
AGS NEWS – Nigeria’s crude oil production experienced a continuous decline in February and March 2024, resulting in an estimated loss of about N720 billion in revenue. The country’s failure to meet its crude oil production benchmark set in the … Continue reading Nigeria loses N720bn due to reduced crude production in two months
AGS NEWS – The African Development Bank has inked a $75 million loan pact with Nigeria’s Indorama Eleme Fertiliser and Chemicals Limited, as per a statement on the bank’s website Thursday. The loan aims to boost Indorama’s fertiliser production capacity … Continue reading AfDB and Indorama forge deal to enhance fertiliser production
Investigation has revealed that the price of locally produced rice has surged by 73.2 percent in a year due to rising production costs, transportation expenses, and other factors. Despite the Central Bank of Nigeria’s multi-billion naira funding support for the … Continue reading NBS reports 73% surge in local rice prices over 12 month period
The Edo State Government has forged a strategic partnership with Sunora Foods to enhance palm oil production in the region. This collaboration is expected to result in a substantial investment of $100 million and the creation of 25,000 job opportunities … Continue reading Edo state partners with palm oil company to boost production
Idowu Owohunwa, the Commissioner of Police in Lagos State, revealed on Wednesday during the unveiling of the Complaint Response Unit by the acting Inspector-General of Police, Kayode Egbetokun, that criminal elements within the state are displaying an increasing ability to … Continue reading Rising local firearms production in Lagos raises concerns – CP
The latest data released by the National Bureau of Statistics reveals that Nigeria’s headline inflation rate has increased for the sixth consecutive time, reaching 22.79% in June 2023. This marks a new 17-year high, surpassing the previous month’s rate of … Continue reading Economists concerned about high production costs as inflation reaches 22.79%
Nigeria’s oil production in April 2023 dropped below the one million barrels per day (bpd) mark, reaching 998,602 bpd, according to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). This represents a significant decline of 21.26 percent compared to the previous … Continue reading Nigeria’s oil production dips below one million barrels per day, lowest in seven months
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