Monday, November 03, 2020 Lower oil prices create fears of another naira devaluation Brent crude plunged to a five-month low as increased production from Libya coincided with a wave of new coronavirus-induced lockdown across Europe, raising fears of another currency devaluation in oil-dependent Nigeria. Brent dropped 3.5 percent on Monday to $36.70 a barrel in…
DetailsFriday, October 30, 2020 Nigeria faces more economic pain as oil price hits 4-month low Panic is beginning to spread through the oil market as the price of Brent, the benchmark for Nigeria’s crude oil, fell to a four-month low on Thursday as markets continue to struggle with oversupply due to growing lockdown restrictions across…
DetailsWednesday, October 28, 2020 #EndSARS: Border re-opening offers Buhari opportunity to cut cost of living Muhammadu Buhari may not need another term as president, but he surely needs to gain political capital critical for enjoying legitimacy and for his party in future elections. One of the simplest ways of doing that is to re-open the…
DetailsTuesday, October 27, 2020 Unrest, looting to accelerate inflation pressures, worsen households’ purchasing power amid depressed income Cash strapped Nigerians are in for tougher times ahead on the back of rising food cost and other essential items further aggravated by the EndSARS protest, which took an unexpected turn and gave room for hoodlums to loot…
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