REPRIEVE FOR NIGERIA AS OIL PRICES JUMP ON TRUMP’S INTERVENTION SAUDI/RUSSIA MAY CUT PRODUCTION, END PRICE WAR.

Oil prices jumped on Thursday after United States President Donald Trump said he expected Saudi Arabia and Russia would agree to capping oil production, providing much reprieve to countries like Nigeria worst hit by the scramble for bigger market share among producers. Brent, the internationally traded benchmark crude, traded at $33.44, up $8.70 a barrel…

HOW NIGERIAN COMPANIES, GOVERNMENT CAN RESPOND TO COVID-19 – MCKINSEY

There are four critical steps that Nigerian companies could take to ensure business continuity while the government must prioritise five things amid the ongoing coronavirus-induced economic meltdown, according to global consulting firm, Mckinsey & Company. Mckinsey’s recommendations, published this week, are based on the firm’s discussions with risk and health professionals in more than 200…

CORONAVIRUS, THE ECONOMY AND ISSUE OF DIVERSIFICATION

We have never stopped reminding ourselves about the futility of running a monoculture economy. In fact, this was why this platform – Non-oil Digest and its sister online platform – www.realsectornow.com, were created. It is therefore interesting news that the coronavirus pandemic is reminding us of the urgent need for us to diversify our economy…

ADDRESSING INFRASTRUCTURE CHALLENGES IN AFRICA: VIEWS OF IMPACT INVESTORS

The role of infrastructure in economic development cannot be overemphasised. Therefore, many African countries still lag behind in terms of development because of inadequate infrastructure. Impact investors have played key roles in revamping infrastructure. The need and opportunity for private investment in Sub-saharan Africa (SSA) infrastructure are great. But significant barriers to scaling up such…

GLOBAL ECONOMY WILL SUFFER FOR YEARS TO COME, SAYS OECD

The world will take years to recover from the coronavirus pandemic, the Organisation for Economic Co-operation and Development has warned. Angel Gurría, OECD secretary general, said the economic shock was already bigger than the financial crisis. He told the BBC it was “wishful thinking” to believe that countries would bounce back quickly. The OECD has…

UPDATE ON COVID-19 IN NIGERIA

Two new developments have taken place since the last briefing in Abuja on the coronavirus situation in Nigeria. The first is that a team of researchers from various institutions in Nigeria, including scientists from the Centre for Human and Zoology Virology in LUTH, African Centre for Genomics of Infectious Diseases in Redeemers University and the…