In six charts, Nigeria’s fiscal performance in 2020

The federal government budget for 2021 was recently presented with a total of N13.59 trillion, 31 percent higher than the revised 2020 budget of N9.97 trillion. The year 2020 came with some surprises such as the Covid-19 pandemic and the global oil price crash but Nigeria’s fiscal performance has maintained its reputation of an unsatisfactory……

Nigeria’s obsession with owning refineries is counter-productive

The Nigerian government’s obsession with owning and running refineries is costing the country an average of N10 billion monthly, without producing any petroleum products despite several so-called Turn-Around-Maintenance (TAM) activities announced in the past. For the umpteenth time, Africa’s biggest oil producer is attempting again in 2021 to get its refineries working, with the objective…

Will Nigeria’s refining renaissance happen in 2021?

For the umpteenth time, Nigeria is trying yet again in 2021 to get its refineries working in an attempt to wean itself off imported fuel. Africa’s biggest oil exporter is dependent on imported petrol, despite never-ending rehabilitation and turnaround maintenance. Now in 2021, the state-run energy company is giving it another shot that, if successful,……

Oil prices hover at 10-month high as OPEC’s meeting fail to agree on production curbs

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FG and its policy of inconsistency over deregulation will scare investors away

The Nigerian government has once again demonstrated policy inconsistency which has been the bane of previous administrations. This has also become its trade in stock going by the recent development concerning the price of fuel as demonstrated by the recent pronouncement of Chris Ngige, the minister of Labour and Productivity. The government succumbed to pressure……