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Typical diesel generator widely used in Nigeria due to lack of supply from the grid. The Nigerian energy supply crisis refers to the ongoing failure of the Nigerian power sector to provide adequate electricity supply to domestic households and industrial producers despite a rapidly growing economy, some of the world's largest deposits of coal, oil, and gas and the country's status as Africa's ...
Nigeria has filed a lawsuit seeking to compel cryptocurrency exchange Binance to pay $79.5 billion for economic losses it says were caused by its operations in the country and $2 billion in back ...
The Nigeria Union of Journalists (NUJ) urged Tinubu to address the dispute with the ASUU. [21] On 25 June 2024, 1,800 petrol stations were shut down in northeastern Nigeria, after the Independent Petroleum Marketers Association of Nigeria (IPMAN) began a strike in protest against an anti-smuggling operation by the Nigeria Customs Service (NCS).
The economy of Nigeria is a middle-income, mixed economy and emerging market [27] [28] with expanding manufacturing, financial, service, communications, technology, and entertainment sectors. [ 29 ] [ 30 ] It is ranked as the 53rd-largest economy in the world in terms of nominal GDP , the sixth largest in Africa and the 27th-largest in terms of ...
ABUJA, Nigeria (AP) — The newly elected president of Nigeria is the first person chosen to lead the country with The post Nigeria elects new president, who already faces doubts and problems ...
PPP largely removes the exchange rate problem, but has its own drawbacks; it does not reflect the value of economic output in international trade, and it also requires more estimation than nominal GDP. [4] On the whole, PPP per capita figures are more narrowly spread than nominal GDP per capita figures. [5]
The 2023 Nigerian currency crisis was precipitated by a shortage of cash currency (the naira) and an attempt by the Nigerian government to force citizens to use a newly created government-sponsored central bank digital currency.
Nigeria corruption rating by TI improved from 143rd to the 136th position in 2014. [57] In late 2013, Nigeria's then Central Bank governor Sanusi Lamido Sanusi informed President Goodluck Jonathan that the state oil company, NNPC, had failed to remit US$20 billion in oil revenues owed to the state. Jonathan, however, dismissed the claim and ...