Economy

Nigeria’s President Muhammadu Buhari announced Oct. 8 in his 2021 budget proposal to parliament a lower output target and expected oil price benchmark for next year, as the OPEC member braces for reduced revenues from its key industry.…
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Gas is Nigeria’s new petrol, petroleum minister Timipre Sylva said of the oil-dependent nation’s attempt to diversify and overcome the crude oil price volatility that perennially afflicts its econ­omic growth.He said it way back in…
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Nigeria plans to bar vessels without a valid licence to operate in Nigerian waters and has given shipping companies that trade in its coastal and inland waters three months to register, the maritime regulator said on Sunday.The…
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The Trade Union Congress (TUC), yesterday, said it will join forces with the Nigeria Labour Congress (NLC) to shut down economic activities in Nigeria on September 28, should the Federal Government refuse to reverse the recent increase in…
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The Nigerian National Petroleum Corporation (NNPC) has recorded an increased trading surplus of ₦20.36billion in July 2020 compared to the ₦2.12billion surplus in June 2020 in its operations,Dr. Kennie Obateru, Group General Manager, Group…
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President of the Senate, Ahmad Lawan, has said for Nigeria to experience exponential growth in the economy, efforts must be made to strengthen the country’s local content capacities particularly against the backdrop of realities that are…
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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 YearThe 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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