Friday, April 17, 2026
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NLNG Wins Award at WES 2025

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Guinness Nigeria: N1tn Market Capitalisation Signals Strong Investor Confidence, Sustained Value Creation

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Tinubu Assents to N68.32tn Appropriation Bill, 2025 Budget Extension

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PenOp Appoints Anthonia Okoro as Chief Executive Officer

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PenOp Unveils Induction Academy to Equip New Pension Industry Employees

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Fintech Platform TeamApt Closes $5.5m Series A Round

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Nigeria Unveils New Airline, Nigeria Air

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Unity Bank Projects N27bn in Q4 Earnings, Targets N4bn Profit

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US Oil Import from Nigeria Down 67%

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.
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