Economy

Nigeria, Africa’s biggest crude oil exporter, has officially devalued its currency, Naira, against the dollars. The country’s apex bank, Central Bank of Nigeria (CBN), which announced the devaluation of the official exchange rate for…
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The Nigerian National Petroleum Corporation (NNPC) remitted N161.8 billion to the Federation Account in May, the latest figures from the national oil company indicated at the weekend. The N161. 8 billion remitted by the corporation in…
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The Minister of State for Petroleum Resources, Chief Timipre Sylva, has said that Nigeria’s gas reserve can match its energy need if there is efficient utilisation and monetization template of the resources. Speaking at the maiden…
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President, Nigerian Association of Petroleum Explorationists (NAPE) Mr. Alex Tarka, has blamed delay in the passage of Petroleum Industry Bill (PIB) for the stunted growth of exploration activities in the oil and gas sector. Tarka made…
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Auwalu Sarki, Director, Department of Petroleum Resources (DPR) has enjoined lubricant producers in the country to look beyond the shores of Nigeria and target the export market in the distribution of their products. A statement signed…
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Nigeria could only collect about half of its budgeted revenues in the first five months of this year as low oil prices and output took a toll on government income. Total earnings by the government from January to May were 1.48 trillion…
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The Nigerian Maritime Administration and Safety Agency (NIMASA) said it is projecting to generate up to N1billion in revenue per month from its multimillion-dollar floating dockyard, which is currently idling away in Lagos. The…
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…Business continuity requires cost efficiency for Survival …Gas will unlock the industry …Non passage of PIB resulted to low investments in the sector Shell Nigeria Exploration and Production Company (SNEPCo) is one the…
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The continued delay in the reform of the Nigerian petroleum industry has resulted in the loss of at least $20billion indirect investments annually, Nigeria Natural Resource Charter (NNRC) has disclosed. This information was given during…
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•Insist on overhaul amid N154 billion losses in refineries In its first-ever audited report, the Nigerian National Petroleum Corporation (NNPC), revealed that it posted over N1.01 trillion profit from its venture marketing subsidiary,…
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