There are indications that the United States may halt crude oil import from Nigeria by 2022, as it moves closer to becoming a net export of petroleum products. The United State Energy Information Administration (EIA) has projected that the United States will become a net energy exporter in 2022 in the newly released Annual Energy Outlook 2018, primarily driven by changes in petroleum and natural gas markets.

The inter-bank Foreign Exchange Market has received 210 million dollars from Central Bank of Nigeria (CBN) to meet customers’ requests in various segments of the market. The CBN acting Director, Corporate Communications, Mr Isaac Okorafor, said 100 million dollars was sold to authorised dealers in the wholesale segment of the market.

The National Bureau of Statistics (NBS) says the inflation rate, measured by the Consumer Price Index (CPI), has further dropped to 15.13 per cent in January from 15.37 per cent recorded in December, 2017, The NBS disclosed this in its CPI report for January 2018 released on Wednesday in Abuja.

Seven Up Bottling Company has been delisted from the Nigerian Stock Exchange after 32 years in the exchange.

A court order papers posted on the NSE website stated that all shares belonging to Seven-Up will be transferred to Affelka SA, the majority shareholder of the company.

Affelka had earlier offered to pay N112 to buy the company’s ordinary shares in November.

The Japan International Cooperation Agency (JICA) has signed a loan agreement with the African Development Fund (ADF) designed to provide an Official Development Assistance (ODA) loan to the tune of 73.601 billion Japanese Yen (approx. US $700.9 million). The President, African Development Bank (AFDB), Dr Akinwumi Adesina, said that the Japan International Cooperation Agency (JICA) signed the loan agreement with African Development Fund (ADF).

Oil prices dropped 10% this week, falling below $60 a barrel for the first time this year. Record U.S. oil production is raising crude inventories. The CNN reports that investors worry that demand won't keep pace with the increased supply.

U.S. crude producers pumped out an average 9.3 million barrels a day in 2017 and will average 10.6 million this year, according to a U.S. Energy Information Administration report this week.

Oil prices, long battered by a global glut in supply, have been rising recently as the market returns to balance on the back of a landmark deal between producers to throttle output, but surging shale oil production in the United States could throw a spanner in the works, OPEC said on Monday.

Crude prices fell as low as $35 per barrel at the start of 2016, but they have been rising since, reaching a three-year high of more than $70 per barrel last month, “on signs that production adjustments by OPEC and non-OPEC participating countries are balancing the market,” the

Organization of Petroleum Exporting Countries wrote in its latest monthly market report.

The Coordinating Director, Nigerian Agricultural Quarantine Service, NAQS, Dr Vincent Isegbe on Sunday said following the drive for high non-oil exports, the country has exported 1, 983 containers of hibiscus (Zobo) to Mexico alone, thereby generating $35 million within a short time in 2017.

Yam exporters in Nigeria have announced a plan to export another consignment of yam to the United State and the United Kingdom in the first quarter.

The Federal Government flagged off yam export to the UK and USA in July 2017 as part of government efforts to strengthen the naira and enhance the nation’s balance of trade.

Chairman, Technical Committee on Yam Export, Prof. Simon Irtwang, on Tuesday in Lagos said the yam exporters were finalising processes to make it a success.

The Peoples Democratic Party (PDP) on Sunday called on President Muhammadu Buhari to save Nigerians the trauma of sleeping in fuel stations by quitting as Minister of Petroleum Resources and allow competent hands to manage the affairs of the oil sector. The party in a statement issued by its National Publicity Secretary, Kola Ologbondiyan described as unpardonable, the failure of the Buhari Presidency to resolve its inflicted unabated fuel crisis, which had brought untold hardship to Nigerians.