Search

Nigeria’s oil output surge eases pressure on budget, currency

Offshore Oil Rig. © Pixabay
Offshore Oil Rig. © Pixabay
  • Nigeria’s daily oil production hit 1.8 million barrels in July, the highest since 2021
  • Higher output could reduce borrowing needs, strengthen the naira and curb inflation

 

ABUJA, NIGERIA – Nigeria’s oil production has reached its highest level in four years, offering a fiscal boost that could help stabilise the currency and cut borrowing.

Recent Business

Luanda, Angola. © Unsplash
Angola cuts benchmark rate to 18.5% as inflation falls
Read More »
Houmt Souk, Tunisia. Photo by Ondrej Bocek @ Unsplash
Tunisia’s economy grows 2.4% in Q3 despite deepening trade deficit
Read More »
Street of Rwanda. Photo by Dieuvain Musaghi @ Unsplash
Rwanda’s franc weakens as global currency shifts reshape FX markets
Read More »

Recent Politics

Kenya's ODM split over age, factions and 2027 political strategy. Photo @ The ODM Party/Facebook
Can Oburu Oginga hold Kenya’s ODM together after Raila Odinga’s death?
Read More »
Patrice Talon, President of Benin Photo @Patrice Talon/Facebook
Benin extends presidential term from five to seven years
Read More »
Bassirou Diomaye Faye, President of Senegal. Photo @ Office of President, Senegal/Facebook
Senegal’s soaring presidency budget sparks scrutiny amid economic strain
Read More »

Latest Posts

Latest news insights