Economy

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 sectorShell 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 refineriesIn 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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Timi Sylva with the Minister of Energy of Gabon -------------------------------------------------------------*The event will gather stakeholders and investors to promote the development and expansion of Gabon’s energy sector as a…
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...Cost of debt servicing was 99% of total revenue in the first quarter of 2020Almost all revenue is equal to the amount required to pay off the debt service obligationsFalling oil prices caused the budget deficit by 30%Oil represents…
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The Nigerian National Petroleum Corporation has said it anticipates a remittance of N1.27tn to the federation account.In a presentation to journalists on Thursday, Group Managing Director of the Corporation, Mallam Mele Kyari said the…
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…N7bn, $48m lost to PMS, crude oil theft in four monthsThe Nigerian National Petroleum Corporation (NNPC) has disclosed that the fall in crude oil prices in the international market has hampered its projected N1.27 trillion remittance…
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