The return of Donald Trump as the 47th President of the United States may lead to intensified inflationary pressures in Nigeria and a potential drop in global oil prices, which would negatively impact Nigeria’s oil revenue. This outlook was shared in an investor note from FXTM, a prominent trading platform, authored by Senior Market Analyst … Read more
EKO HOT BLOG reports that Socio-Economic Rights and Accountability Project (SERAP) has urged the CEO of NNPC, Mele Kolo Kyari, to disclose Nigeria’s daily oil production, export volumes, and revenue since the removal of petrol subsidy in May 2023. This request follows allegations of insufficient foreign exchange remittance by the NNPC into the treasury, voiced by … Read more
The Coalition of Oodua Self-Determination Groups supports Tinubu’s decision to remove fuel subsidy and The group urges Nigerians to do the same, emphasizing that Nigeria cannot afford to continue budgeting trillions of naira on subsidy alone. They believe the funds allocated to subsidy can be better utilized to address various deficits and improve the quality … Read more
Oil Revenue, PIB President of the Senate Ahmad Lawan says Nigeria will generate more revenue with the passage of the Petroleum Industry Bill (PIB). Lawan made this known while addressing Senate Correspondents at a forum to mark his 62nd birthday in Abuja on Tuesday, Eko hot blog gathered. He said that the Senate would on … Read more
The Central Bank of Nigeria (CBN) has revealed that between January and November last year, the Federal Government made about N5.04tn from the sale of oil. The oil revenue, according to the Central Bank of Nigeria economic report for November, was lower than the N8.77tn revenue target provided for in the 2019 budget for the … Read more