Nigeria’s crude oil production fell by 156,900 barrels per day (bpd) to 1.269 million bpd in March, from 1.426mbpd recorded in February. Consequently, the country lost its status as Africa’s top oil producer to Angola, according to latest data from the Organisation of Petroleum Exporting Countries (OPEC).
The federal government of Nigeria has announced that registration of unemployed Nigerians will begin on Wednesday, April 5.
The Minister of Finance, Kemi Adeosun, has announced that the Central Bank has approved a licence for the Development Bank of Nigeria (DBN).
Nigeria's central bank kept its monetary policy rate at 14.0 percent but switched to a tightening bias by saying that a rate cut now would worsen the naira's exchange rate, further pull the real interest rate into negative territory, reverse the positive outlook for the current account and not necessarily transmit into lower lending rates by banks.
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