As Nigeria pushes for economic development, it is important for the federal government to renegotiate the structure of government in the country. The present system that...
Records from the statistics unit of the Organisation of Petroleum Exporting Countries (OPEC) has indicated that Nigeria’s crude oil production suffered further drop in the month of August, compared with increased figures among its categories at the same period. OPEC’s monthly oil market report for September, which was...
The Vice-President, Yemi Osinbajo has revealed that the nation has been losing about 1 million barrels of crude oil per day in the last six months...
A fresh condition has been attached to the ongoing efforts aimed at finding lasting solution to the crisis rocking the oil producing region of the Niger...
The Nigerian National Petroleum Corporation (NNPC) has raised a fresh alarm, drawing attention to activities of militants in the Niger Delta region of the country. It...
The inability of Nigeria to put a total stop to gas flaring has seen the country losing an average of $692.66 million annually from flaring an average of 224. 22 billion standard cubic feet (SCF) of the product. For an economy in recession, this...
The international oil market witnessed a slight price increase of 1.3 per cent Monday at the news that the militant group Niger Delta Avengers (NDA) announced...
Yet again, Nigeria was missing from major programmes by member-countries of the oil cartel, the Organization of Petroleum Exporting Countries (OPEC). This may be attributable...
Despite expectations, solid minerals in Nigeria cannot easily displace oil as a dominant sector of its economy, investigation has revealed. It was projected that in five...
An estimated $2.5 billion will be spent by the Nigerian government, in its latest efforts at discovering crude oil in the Chad Basin. This is a...
President Muhammadu Buhari has also directed the Nigerian National Petroleum Corporation (NNPC) to commence a search for crude oil in the Benue Trough. This is coming...
Nigeria’s economic woes dampened further, as the United States and India, major buyers of its oil announced reduction of their imports by 53 per cent and...
The Nigerian National Petroleum Corporation, NNPC, may have concluded plans to start importing crude oil from Chad and Niger Republic to feed its Kaduna Refinery in...
In a bid to overtake Nigeria as the main hub of the aviation industry in West Africa, Ghana has reduced price of Jet A1 by 20...
In a desperate move to find solution to its economic recession and improve on its drained foreign reserve, Nigeria has made overtures to Spain to buy...
From $40 billion in 2014, Nigeria’s foreign reserve has shrunk to $26 billion, shedding more than 35 percent within a year and may be further depleted. The Federal Government has blamed the situation on poor earnings...
The Ugandan Ministry of Energy and Mineral Development said it has selected three Nigerian firms to explore oil in that country. The firms are WalterSmithPetroman Oil...
Fear that Nigeria may suffer more losses of oil output emerged over the weekend as suspected militants destroyed oil and gas pipeline facilities operated by Shell,...
Nigeria will this week conclude talks with the African Development Bank (AfDB) for a $1 billion loan with which to finance its N6.06 trillion 2016 budget....
Ministerial officials preparing the 2017 budget are having sleepless nights over the fate of the proposal, as instability in the oil sector persists. A similar scene was witnessed during the collation of data for the 2016 budget, which saw the benchmark of price of oil...
President Muhammadu Buhari has given the Nigerian National Petroleum Corporation, NNPC, the marching order to find crude oil in the north eastern part of the country....
The International Energy Association (IEA) has named Nigeria and Middle East as major oil producing countries playing positive role in the market recovery of Organization ofPetroleum...
The agitation for fiscal federalism or as some may prefer to put it, restructuring, is as old, if not older than the current Nigerian democratic experiment....
Nigeria’s dwindling earnings from oil export may have worsened as oil giant, Shell, has announced that it has shut down the Trans Niger Pipeline on Monday...
Apparently determined to shore up government’s revenue, the Minister of Finance, Mrs. Kemi Adeosun, has revoked the reduction of withholding tax for construction related activities. The...
The volatile oil producing Niger Delta region has been in the news again, not only for its great endowment with the black gold, or it being...
The Nigeria Extractive Industry Transparency Initiative, NEITI, has said the country at the moment does not know the quantity of crude oil it produces. The Executive...
The spate of attacks on oil facilities in the Niger Delta has further reduced Nigeria’s daily oil output, as Eni, the parent company of Nigerian Agip...
The militant group, Niger Delta Avengers say what they want is a country of their own, and not pipeline contracts. The group also claimed to have...
Seemingly dazed by the level of recurring bombings of oil pipelines in the Niger Delta area, the federal government has resolved to engage persons from communities...
President Muhammadu Buhari has said that niigeria’s economy is in a volatile situation due to the crash in oil prices. The president stated this at the...
By Pat Utomi…The price of Petrol goes up and gloves go off. When gloves go off name calling and the mudslinging on motives become fair game....
Lagos lawyer and human rights activist, Mr Femi Falana, SAN, has said that the new fuel price regime announced by the Federal Government is illegal and...
Nigeria may yet heave a sigh of relief if the projections of the World Bank is anything to go by. The Bretton Wood institution is raising...
Oil prices, Friday, rose above the bench mark for Nigeria’s 2016 budget by $4.29, as prives rose for the third straight days. The latest price upward...
In spite of government’s efforts to diversify the nation’s economy from crude oil based, non-oil exports dropped by a whopping 58 per cent losing $6.14 billion...
After positive signs of improving crude prices, hopes faded again on Tuesday, as prices dipped further below $40 per barrel. The further fall in prices may...
The Federal Government has dragged International Oil Companies, IOCs to court over crude theft totalling $12 billion. FG’s action is targeted at recovering over N2 trillion...
The price of Brent crude, on Monday, rose to hit a 2016 high of $40 per barrel. It was the sixth rise in consecutive trading days...
By Benjamin Obiajulu Aduba The 9-month span of Mr. Muhammadu Buhari’s presidency is not long enough to pass final judgements on his stewardship but long enough...
There seems to be a general optimism, though cautious, over Friday’s upsurge in the prices of crude in the international market. After selling below the $30...
Prices of crude in the international market made a dramatic increase on Friday, reaching a two-month high, as the Brent North Sea crude reached $38.72 a...
By Waziri Adio Dutch Disease. Resource Curse. Paradox of Plenty. Three good turns of phrases signifying an unflattering concept that could have been developed with just...
By Joseph Edgar . . . . As I ride to work this morning I am listening to economic news analysis and I fear for this...
Monitoring experts has said fuel may end up being cheaper than bottled water if the current rate at which oil prices are plummeting continues. Oil prices...
Nigeria’s dwindling resources may encounter more troubles as global prices of oil slipped further yesterday to touch $30 per barrel for the first time since April...
Nigeria’s earnings from crude oil will drop from $88 billion it was last year to about N52 billion this year, losing about $36 billion. This, according...
Claims by Nigeria’s National Petroleum Corporation (NNPC) that the process by which it supplies refined petroleum products for domestic consumption leads to losses that translate into...
THE Federal Government exported 140.79 million barrels or 1.53mbd of crude oil during the third quarter of 2014, according to the Central Bank of Nigeria (CBN)...