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Crude Oil Prices

$107 billion withdrawn from ECA in 15 years

According to fresh statistics from Nigeria’s civic tech organization, BudgIT, it has revealed that a total of $107 billion was withdrawn from Excess Crude Account (ECA) between 2004 and 2018.

Oil rises on US high retail sales

Crude oil prices rose more than two per cent on Friday, recovering from two days of declines after data showing a rise in U.S. retail sales helped to ease concerns about a recession in the world’s biggest economy.
Oil marketers have given the Federal Government an ultimatum, threatening to shut down depots across the country.

Depot owners want total deregulation of petrol

The Depot and Petroleum Marketers Association of Nigeria (DAPMAN) says the rise in landing cost of petroleum products has renewed calls for full deregulation.
Indian rupee crashes to all time low of 69 against US dollar | AFP

Indian rupee hits record low amid inflation, credit downgrade

The Indian rupee on Thursday weakened past 69 to a dollar for the first time, slumping to an all-time low amid a spike in crude oil prices, foreign capital outflows and a widening current account deficit.

Fuel, imported goods’ prices may spike over rising shipping cost

Strong indications emerged at the weekend that Nigerians may pay more for fuel and other goods imported into the country after shipping companies including Maersk and Mediterranean Shipping Company, announced a rate hike in prices of bunker fuel which is a fallout of higher oil prices.

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Police recruitment: Court adjourns for PSC to respond to AGF’s application

The Federal High Court, Abuja, on Wednesday, adjourned till November 20 for the Police Service Commission to respond to the Attorney-General of the Federation’s counter-affidavit in a suit to stop the recruitment of 10, 000 police officers.
Russia's Embassy to Washington says it has lodged a formal diplomatic protest after Israel extradited a Russian national to the United States, where he is suspected of stealing more than $20 million from U.S. consumers through credit card fraud.

Moscow accuses US of ‘hunting’ Russians after Israel extradites suspect

Russia's Embassy to Washington says it has lodged a formal diplomatic protest after Israel extradited a Russian national to the United States, where he is suspected of stealing more than $20 million from U.S. consumers through credit card fraud.
Evo Morales, who resigned as Bolivia’s president Sunday after losing the support of the army and police, has said there is now a warrant for his arrest.

Evo Morales’s topsy-turvy flight into exile

Bolivian ex-president Evo Morales jetted off to exile in Mexico Tuesday in a bizarre flight full of detours that traced the shifting political map of a Latin America racked by crises.
The Federal High Court, Abuja, on Thursday, held that the Independent National Electoral Commission (INEC) was wrong to have excluded candidate of the Social Democratic Party (SDP), Mrs Natasha Akpoti, in the Nov. 16 governorship election in Kogi.

Kogi guber: APC accuses SDP candidate of faking attack on her

The All Progressives Congress (APC) in Kogi State has accused the governorship candidate of the Social Democratic Party (SDP), Natasha Akpoti, of faking the reported attack on her on Tuesday in Lokoja.