Nigerias

The landscape of cryptocurrency is rapidly evolving, and Nigeria stands at the forefront of this digital revolution, as highlighted by the 2024 Global Crypto Adoption Index published by Chainalysis. Securing a notable position just behind India, Nigeria has adopted cryptocurrency fervently for various purposes, including transactions, investments, and remittances. But with this remarkable leap in adoption comes a complex web of challenges and risks, casting a shadow over its promising future. With decentralized…

In an encouraging turn of events, Nigeria has witnessed a remarkable 15.6 percent increase in its gas output month-on-month (MoM), reaching a substantial 227,931.65 million standard cubic feet (mscf) in March 2025. This surge not only highlights the nation's potential in natural gas production but also reflects the continued efforts towards enhancing the country's energy sector. When we step back to examine the year-on-year (YoY) data, the figures reveal a modest growth from the previous year, rising from 198,353.62 mscf in…

An Exciting Leap for Nigeria’s Oil and Gas Sector The recent commissioning of the Monarch Alloys Limited facility, which boasts cutting-edge 3LPE (three-layer polyethylene) and concrete weight coating capabilities, has captured the attention of industry leaders and stakeholders alike. Mr. Felix Ogbe, the Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), was quick to commend the leadership of Monarch Alloys Ltd for this significant achievement. It marks a pivotal moment in Nigeria’s…

The International Monetary Fund (IMF) recently delivered a sobering message directed at the Federal Government of Nigeria, urging the nation to maintain a watchful eye amidst escalating global trade tensions and increasingly stringent financial conditions. The IMF’s caution arises from a significant concern: if global demand starts to falter, Nigeria could see a sharp decline in its earnings from commodity exports. This is particularly alarming for a country heavily reliant on such revenue streams. This stark warning was…

Navigating a Strategic Shift: Indonesia’s Changing Oil Dynamics In an era where global trade dynamics are in constant flux, Indonesia's recent pivot away from crude oil exports to Nigeria marks a pivotal moment in international economic relations. This decision stems from Indonesia's attempts to rectify its trade imbalance with the United States and sidestep a daunting 32% tariff on its exports. It’s a well-calibrated move, yet it raises several questions about the future of Nigeria’s oil revenues and its standing within…

The landscape of leadership is evolving, especially when it comes to the intersection of technology and youthful ambition. In this spirit, the recent awards hosted by Xodus Communications stood as a testament to potential—and potential realized. Celebrating 40 exceptional young leaders from across the globe, the awards shine a spotlight on individuals who are not merely ambitious but are actively making remarkable contributions across various industries. Among the notable honorees is the inspiring Nwodo, who has been…

Unraveling the CBEX Collapse: A Closer Look at Nigeria's Latest Ponzi Scheme Scandal In a shocking turn of events, the platform known as the China Beijing Equity Exchange (CBEX) has come crashing down in Nigeria, leaving behind a trail of despair. An estimated 300,000 investors have been engulfed in financial losses amounting to ₦1.3 trillion, which is roughly equivalent to $840 million. As investigations unfold, there are serious questions about the scale of this Ponzi scheme and the nature of its operations. How did a…

Imagine starting every day knowing that your nation is one of the powerhouses of oil production in Africa. Nigeria, for instance, has always held a pivotal role in this delicate dance of numbers and barrels. Just in March, Nigeria's oil production averaged about 1.40 million barrels per day (mbpd). If we flip back a page to the previous month, February, there was a slight uptick, with production averaging 1.465 million barrels per day. Interesting how these small fluctuations can tell a story, isn’t it?…

In a pivotal move, the Federal Ministry of Finance recently confirmed the continuation of a policy that's been off the radar for a few months—the Crude and Refined Product Sales in Naira initiative. This decision came hot on the heels of a high-powered conclave led by a Technical Sub-Committee. Sometimes, the paths taken to conserve resources and bolster local industries can be quite the labyrinth. Do you remember wanting to unravel a knotty problem yourself? That's what this initiative seeks to do for…

Economic interactions between nations can be as intricate as they are crucial. Take, for instance, the recent developments between the United States and Nigeria, which echo a tale of opportunity interlaced with challenges. The United States Trade Representative (USTR) has voiced significant concerns over Nigeria's long-maintained import restrictions. These limitations have notably crimped the market access for American exporters and spread across several key sectors. Shouldn't countries strive for more openness,…