Economy

The Minister of State for Petroleum Resources, Chuef Timipre Sylva, says the Federal Government’s decision to fully remove subsidy from petrol will earn the country ₦1trn annually and create massive jobs. Sylva, who said this on…
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The Department of Petroleum Resources (DPR) has generated a total sum of N673.7 billion in the first half of this year.Its Spokesman, Paul Osu, said in a statement that the Director of DPR, Engr. Auwalu Sarki, disclosed this during the…
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The Nigerian National Petroleum Corporation (NNPC) has announced a total crude oil and gas export receipt of $378.42 million in June 2020 as against $133.16 million it posted in May 2020, signalling a marked improvement in revenue earnings…
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…Records $4.60billion Export Sale in one Year The Nigerian National Petroleum Corporation (NNPC) has announced a total crude oil and gas export receipt of $378.42million in June 2020 as against $133.16million it posted in May 2020,…
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Banks have cut access to dollars for individuals, businessesForeign-exchange scarcity poses long-term risks to markets Nigeria’s foreign-currency shortage is squeezing the life out of Africa’s biggest economy. Banks won’t honor card…
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Statistician-General, NBS, Yemi Kale during a virtual meeting on Friday, revealed that gross oil and gas revenue was projected at N9.3 trillion in 2019 however, only N4.6 trillion was realised. “Indeed, there has been signs that in the…
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The increasing flow of the United States crude into Europe is threatening to displace the region’s traditional light, sweet crudes, forcing sellers of Nigerian and Mediterranean crudes to discount September-loading cargoes. S&P…
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For the federal government, the expansion of investments around gas infrastructure is about targeting the country’s huge gas deposit to serve as stimulus to economic development: There seems to be a critical thinking around gas…
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President Muhammadu Buhari, Thursday charged the Nigerian Content Development and Monitoring Board (NCDMB) to achieve 70 per cent local content in Nigeria’s oil and gas industry by 2027. Buhari, who was represented by the Minister of…
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Nigeria can generate over $1billion yearly from gas resources if stakeholders do the right things. Chairman of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) Elias Mbam in a statement in Abuja on Wednesday said: “With…
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