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The House of Representatives on Wednesday directed its committees to summon the Central Bank of Nigeria (CBN) Governor, commercial bank managing directors, and other stakeholders to address the challenges posed by undocumented Point of…
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A Federal Account Allocation Committee report has criticised the Nigerian National Petroleu͏m Company (NNPC) for an additional N1.19 trillion subsidy refund for July 2024. The critique came shortly after NNPC noted that the request…
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The businessman and his executives aim to formalize the direct acquisition and operation of oil blocks in Angola’s onshore and offshore areas, as well as the acquisition or management of cement factories. The following article was…
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The Nigerian naira is predicted to end the year falling to N1,621.7 to a U.S. dollar, continuing its volatility despite interventions by the Central Bank of Nigeria (CBN) to shore up the currency. This new outlook is however a…
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Faced with soaring petrol prices after an end to fuel subsidies, some Nigerians are convertng their cars to run on compressed natural gas. Car mechanic Adebola Omotosho has to drive eight kilometers across Nigeria’s bustling commercial…
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Kuwait has announced a bold $33 billion investment plan to boost its oil production capacity but Nigeria grapples with a myriad of challenges in its oil sector. Findings showed Kuwait Petroleum Corporation (KPC), the equivalent of…
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…CBN Raises Interest Rate For Sixth Time In 2024, Now 27.50% The Monetary Policy Commit­tee (MPC) of the Central Bank of Nigeria (CBN) has raised the country’s interest rate for the sixth time in 2024. The new interest rate…
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The Trade Union Congress of Nigeria (TUC) has called on the Federal Government to go beyond the processing of crude in the old Porth Harcourt refinery and expedite work in all the other refineries in the country including the new Porth…
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…Calls For Licensing Of Artisanal Refineries The Pan Niger Delta Forum (PANDEF) has hailed the commencement of refining of petroleum products by Port Harcourt refineries, saying that its resumption will create jobs for Nigerians and…
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The Nigerian National Petroleum Company Limited (NNPC) has stated it cannot specify a completion date for the Quick Fix Project at the Kaduna Refining and Petrochemical Company (KRPC), despite previous projections. Earlier, KRPC’s…
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