Economy

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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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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