Economy

The Nigerian public oil company (NNPC) has announced that it will conclude by the start of the second quarter a financing agreement of 2.5 billion dollars which will be used to build the largest gas pipeline in the country, called AKK…
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The Nigerian National Petroleum Corporation (NNPC) has paid a total of $483.25 million to the Federation Account in October, 2019.This was contained in the 51st edition of NNPC’s Financial and Operational Report.The report noted that…
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Commercial banks in Nigeria, at the weekend, began descending on heavy debtors, mainly oil firms with history of non-performing loans, as fear of recapitalisation and mergers continue to rock the money market sector.Some of the…
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Between January and November last year, the Federal Government made about N5.04tn from the sale of oil, figures obtained from the Central Bank of Nigeria have revealed.The oil revenue, according to the CBN economic report for November,…
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A Professor of Law and Director, Institute for Oil, Gas, Energy, Environment and Sustainable Development (OGEES Institute), Afe Babalola University, Ado Ekiti, Damilola Olawuyi has said most of the legal framework in the nation’s oil and…
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Lower amounts of revenue might be available for sharing by the three tiers of government through the Federation Accounts Allocation Committee (FAAC) in the coming months as the cost borne by the Nigerian National Petroleum Corporation…
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At a time when national oil companies across the world are launching Initial Public Offerings (IPOs) and raising capital from public investors to outsmart the volatility in the oil and gas industry, the Nigerian National Petroleum…
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The Nigeria Natural Resource Charter, NNRC, has blamed Nigeria’s over reliance on the oil sector, failure to diversify its revenue base for the inability of the country to effectively manage the wealth from its oil and gas resources.…
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Nigeria earned N5 trillion from oil in 11 months ending November 2019, representing 1.2 per cent decline, year-on-year, YoY, from N5.1 trillion earned in the same period of 2018.However, total federally collected revenue rose by nine…
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-By Kenny Folarin The President of the Oil and Gas Trainers Association of Nigeria, (OGTAN), Dr. Mayowa Afe, has stated that the Nigerian Oil and Gas Industry Content (NOGIC) Act 2010, has enabled Nigeria to save $2 billion.He added…
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