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Why higher crude oil prices won’t save Nigeria’s economy

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Official: Nigeria’s crude helps Indonesia achieve energy sufficiency

Nigeria’s crude oil has helped Indonesia achieve energy sufficiency, the Head of Economic Affairs of the Indonesian Embassy, Dwiyatna Widinugraha, has said.

Report: NNPC remits N857 billion to federation account

The Nigerian National Petroleum Corporation (NNPC), says it remitted N857.36 billion to the federation account in 2017.

NNPC: We reduced cost of oil production to $20 per barrel

The Nigerian National Petroleum Corporation (NNPC) on Monday said that it had been able to reduce the cost of producing a barrel of crude oil to $20.

OPEC announces changes to 30-year-old annual questionnaire

Organisation of the Petroleum Exporting Countries (OPEC) will this year deploy a new questionnaire to all member countries for data collection, making a total change its annual questionnaire which had been the same in the last 30 years, Adedapo Adulaja, Head, Data Services Department, OPEC, has disclosed.

Federal govt mobilises central bank, others to finance modular refineries

The federal government on Wednesday said it was talking with potential financiers, including the Central Bank of Nigeria (CBN), International Finance Corporation (IFC) and Nigerian Sovereign Investment Authority (NSIA) to provide contributory finance to investors in modular refineries in the Niger Delta region.

FAAC disbursements increase by 25% in 2017 – NEITI

The Nigeria Extractive Industries Transparency Initiative (NEITI) on Tuesday in Abuja said the Federation Account Allocation Committee (FAAC) disbursements increased by 25 per cent in 2017.

Ibe Kachikwu: Federal govt’ll compel oil firms to build refineries in Nigeria

The Federal Government, yesterday, said it was considering a policy to compel multinational oil and gas firms operating in the country to build refineries in Nigeria.

Oil prices hit record high in two weeks

Oil prices extended gains to hit their highest level in nearly two weeks on Monday, buoyed as Asian shares joined a global recovery in equity markets and as worries grew over tensions in the Middle East.

Oil blocks are ancestral properties of Niger Delta – Governor Dickson

The governor of Bayelsa State, Seriake Dickson, on Saturday demanded that more oil blocs be given to the oil-producing areas because they are “the ancestral properties of Niger Delta.”

House of Reps extends committee’s time to probe stolen $17 billion crude oil funds

The House of Representatives Thursday added additional Six (6) weeks to enable the ad-hoc committee investigating stolen $17 billion undeclared crude oil and liquefied natural gas exports sales.

Kuwait pledges $2 billion for Iraq’s reconstruction

Kuwait will lend one billion dollars to Iraq and commit a further one billion dollars of investment to the country, Kuwaiti Emir Sheikh Sabah Al-Sabah told an international conference on Iraq’s reconstruction on Wednesday.

Mixed reactions trail Nigeria, Niger Republic proposed refinery

The plan by the Federal Government of Nigeria and its Niger counterpart to establish a refinery has been attracting mixed reactions.

NSCDC nabs 4 suspects, destroys 200,000 litres of diesel in Ondo

The Nigeria Security and Civil Defence Corps (NSCDC), Ondo State Command says it has arrested four suspects, destroyed 200,000 litres of diesel in the state.


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NiMet predicts partly cloudy, sunny weather for Monday

The Nigerian Meteorological Agency has predicted partly cloudy weather conditions over the central States of the country on Monday morning with chances of localised thunderstorm over Jos, Makurdi, Lafia and Abuja in the afternoon and evening hours.

Qatar asks US to probe financial manipulation by UAE

Qatar's central bank has asked US regulators to investigate an Emirati bank that Doha accuses of waging "financial warfare" against it.

Akwa Ibom association in US honours NDDC chief Nsima Ekere

The Akwa Ibom State Association of Nigeria, USA Inc, a non-partisan, non-profit socio-cultural organization, with many active chapters throughout the world, has presented a Community Development Excellence Award to the Managing Director of the Niger Delta Development Commission, Nsima Ekere.

Boko Haram: UNHCR enrols 300 orphans in Borno private school

The United Nations High Commission on Refugees (UNHCR) has enrolled about 300 children who lost either or both parents in the ongoing Boko Haram insurgency in Borno State in a private school for orphans in Maiduguri.

Police arrest Nigerien with ammunitions, army camouflage in Sokoto

The police in Sokoto State has paraded a national of Niger Republic with ammunitions and an Army camouflage.

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Electoral Act: Don’t condemn President Buhari for withholding assent – Yoruba youths

A Yoruba sociocultural group, Yoruba Council of Youths Worldwide, says President Muhammadu Buhari should not be condemned for withholding his assent on the amended Electoral Act passed by the National Assembly.

Federal govt urged to break meter distribution monopoly

The Electricity Meters Manufacturers Association of Nigeria (EMMAN) on Monday in Lagos appealed to the Federal Government to break the monopoly of distribution companies in the sale of meters to electricity consumers.

Vice President Osinbajo contracts media coverage of daughter’s wedding to private firm

Vice President Yemi Osinbajo has contracted out media coverage of the marriage of his eldest daughter Damilola.

Ex-NPA chief declares for Adamawa Central senatorial seat

A former managing director, Nigerian Port Authority (NPA), Engr Omar Suleiman, yesterday declared his interest to contest for Adamawa Central Senatorial seat in the 2019 general elections.

Dapchi abduction: House of Representatives investigation to focus on security agencies’ action, inaction

The House of Representatives has said that it would not shy away from apportioning blames to agencies that shirked its responsibilities in the abduction of 110 students of Government Girls Science and Technical College, Dapchi, Yobe State on 19 February, 2018.