Economy

The Secretary-General of the Organisation of Petroleum Exporting Countries(OPEC),Mohammed Sanusi Barkindo and Executive Director of the International Energy Agency(IEA),Dr. Fatih Birol, yesterday said Nigeria and other developing countries…
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The Economic and Financial Crime Commission (EFCC), Kaduna Zonal Office has raided popular bureaux de change located at Hamdala Hotel as part of measures to stabilize the Naira against the US dollar. In the same vein, officials also…
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Mele Kyari, Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC) on Wednesday painted a gloomy picture of tougher times ahead for the Nigerian economy on the back of latest developments in the global oil…
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Blue Seal Group, an indigenous energy firm has laid a multi-million dollar foundation for local production of chemicals that will be used to advance petroleum products production across the downstream value chain and enhance production…
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The Federal Government has constituted a 5-man Committee to review and possibly reduce the 2020 budget estimates which stands at N10. 6 trillion. The move may have become necessary, following the outbreak of Coronavirus in Nigeria, the…
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The Executive Director, Nigeria Export Promotion Council (NEPC), Mr. Segun Awolowo, who spoke with The Nation, said the zero oil plan will add a minimum of $150 billion to Nigeria’s foreign reserves over the next 10 years. He said: “We…
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The Department of Petroleum Resources (DPR) generated N2.4 trillion last year, it was learnt at the weekend. Its Director/Chief Executive Officer, Sarki Auwalu, stated this when the Senate Joint Committee on Petroleum paid an oversight…
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The downtrend in the oil market reached a new nightmarish height Thursday as the Brent (against which Nigeria’s Bonny Light is benchmarked) tumbled to $51 a barrel, the lowest in thirteen months. Global oil prices have been at the…
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*Explores floating of Ship Repair Centre in Nigeria under a PPP Arrangement The Shipowners Association of Nigeria (SOAN) led by its President, Dr. Mkgeorge O. Onyung paid a high-value visit to the Honorable Minister of State for…
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Cost increases and uncertainty in Nigeria’s crucial energy sector could lead to a 35% decline in oil output over 10 years as companies delay investments in key oilfields, consultancy Wood Mackenzie said in new research due to be published…
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