Again, NNPC Cautions Against Panic Buying, Says 30-Days PMS Sufficiency Intact

The United States decreased its oil import from Nigeria by 67 per cent in 2014, signaling growing economic pain and sustained pressure on foreign reserves, already down to $29.3 billion as at April 15, 2015, its lowest point since 2010. Figures from the US Department of Commerce suggest that U.S. total trade in 2014 (exports plus imports) with sub-Saharan Africa (SSA) also went down by 18 per cent to $52.1 billion compared to 2013. “In 2014, U.S. imports from SSA decreased by 32 percent, falling to $26.7 billion and representing only 1.1 percent of total U.S. imports from the world. This decrease was mostly due to a 51 percent decrease in U.S. mineral fuel and oil imports from SSA. U.S. imports from SSA originated, for the most part, from South Africa Nigeria, Angola, Côte d’Ivoire, and Chad,” the report says.

Ecobank Nigeria, a subsidiary of the leading pan-African financial...

        Nigeria's smartphone market grew 2.0% in unit terms quarter...

Seplat Energy provides an update to the previous announcement...

March 28 was a historic date in Nigeria's history as it marked the first time the opposition defeated the ruling party in democratic elections in Africa's most populous country and biggest economy. Muhammadu Buhari, a former military leader who had ruled Nigeria for a 20-month period in the early 1980s, campaigned as a born-again democrat and saw the tide of public opinion turn in his favor. Here, CNN's African Start-Up examines Buhari's campaign strategy and reveals the key business lessons entrepreneurs can adapt for startup success.

Nokia has announced sweeping job losses as the consequence...

By Elvis Eromosele For years, Nigerian consumers have complained, sometimes...

TotalEnergies has strengthened its balance sheet and doubled its...