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Nigerian President Muhammadu Buhari3

President Buhari defends borrowing to fund infrastructure

President Muhammadu Buhari Tuesday justified government borrowing to finance infrastructure, asserting that his government took loans in the interest of the country to solve the dire shortfall in infrastructure.
The Egyptian Ministry of Petroleum and Mineral Resources announced on Thursday a new oil discovery in the shallow waters of Geisum concession south of the Gulf of Suez, with an initial production rate of 2,000 barrels of crude oil per day.

Oil moves higher as storm threatens United States Gulf Coast

Oil prices rose on Monday as a tropical storm in the Gulf of Mexico prompted drillers to evacuate rigs and shut-in production.
3. The truce-seeking trip of President Muhammadu Buhari to the Malian capital of Bamako on Thursday ended without a deal to soothe the country’s escalating political crisis.

President Buhari focused on nation building and unity of Nigeria

To state that we live in challenging times is perhaps an understatement and does very little justice in accurately capturing our current realities. Those realities include a world faced with a pandemic the scale of which hasn’t been seen in 100 years. The crisis has crippled economies, destroyed global supply chains and obliterated once productive and viable sectors of the economy.
The Egyptian Ministry of Petroleum and Mineral Resources announced on Thursday a new oil discovery in the shallow waters of Geisum concession south of the Gulf of Suez, with an initial production rate of 2,000 barrels of crude oil per day.

Oil drops more than $1 after Saudi price cuts, demand optimism fades

The drop is coming after Saudi Arabia made the deepest monthly price cuts for supply to Asia in five months as optimism about demand recovery cooled amid the coronavirus pandemic.

TUC, others reject new fuel price, as petrol stations adjust pump

Petrol stations across the country, yesterday, adjusted their pumps to reflect the hike in the ex-depot price of the Premium Motor Spirit, PMS, by the Petroleum Products Marketing Company, PPMC, with some of the stations raising the price to as high as N161 per litre.
The Egyptian Ministry of Petroleum and Mineral Resources announced on Thursday a new oil discovery in the shallow waters of Geisum concession south of the Gulf of Suez, with an initial production rate of 2,000 barrels of crude oil per day.

Oil prices hold near multi-week lows on demand worries

Oil prices edged up on Thursday, but held near multi-week lows hit overnight after U.S. data showed gasoline demand fell and recovery from the COVID-19 pandemic was lagging.
The Egyptian Ministry of Petroleum and Mineral Resources announced on Thursday a new oil discovery in the shallow waters of Geisum concession south of the Gulf of Suez, with an initial production rate of 2,000 barrels of crude oil per day.

Oil rises towards $46 on US inventory drop, economy hopes

Oil rose towards $46 a barrel on Wednesday, gaining for a third day, supported by a report that United States crude inventories fell.
Group Managing Director-Chief Executive of Zenith Bank, Mr. Ebenezer Onyeagwu, has called for a concerted effort towards diversifying the country’s export base through the promotion of non-oil exports.

Zenith Bank chief calls for promotion of non-oil exports

Group Managing Director/Chief Executive of Zenith Bank, Mr. Ebenezer Onyeagwu, has called for a concerted effort towards diversifying the country’s export base through the promotion of non-oil exports.
The Nigeria Police Force says its investigation shows that Boko Haram, Ansaru and other terror groups are getting support from some Nigerians.

Police arrest nine for ‘armed robbery, cultism’ in Enugu

Nine persons have been arrested by the Police in Enugu state for involving in offences of conspiracy, armed robbery, unlawful possession of firearm, cultism, and receiving of stolen property.
Russia’s energy minister Alexander Novak has tested positive for Covid-19, Russian news agency TASS has reported.

Russia energy minister tests positive for coronavirus

Russia’s energy minister Alexander Novak has tested positive for Covid-19, Russian news agency TASS has reported.

Oil prices advance as China ramps up United States crude imports

Oil prices rose on Monday as China’s plans to ship in large volumes of United States crude in August and September outweighed concerns over a slowdown in demand recovery after the coronavirus pandemic and an uptick in supplies.
The Egyptian Ministry of Petroleum and Mineral Resources announced on Thursday a new oil discovery in the shallow waters of Geisum concession south of the Gulf of Suez, with an initial production rate of 2,000 barrels of crude oil per day.

Oil prices rise, head for weekly gain

Oil prices advanced on Friday and were heading for the second week of gains amid growing confidence that demand for fuel is starting to pick up.
The Egyptian Ministry of Petroleum and Mineral Resources announced on Thursday a new oil discovery in the shallow waters of Geisum concession south of the Gulf of Suez, with an initial production rate of 2,000 barrels of crude oil per day.

Oil slips below $45 on-demand concerns, set for weekly rise

Oil dipped below $45 a barrel, on Friday, on worries that a demand recovery would slow due to a resurgence of coronavirus cases.
The Egyptian Ministry of Petroleum and Mineral Resources announced on Thursday a new oil discovery in the shallow waters of Geisum concession south of the Gulf of Suez, with an initial production rate of 2,000 barrels of crude oil per day.

Oil prices fall over rising coronavirus numbers

Oil prices slid on Tuesday amid concerns that a nascent recovery in fuel demand could stall as a fresh wave of COVID-19 infections around the world sparks tighter lockdowns.
Algeria’s Supreme Islamic Council said the National Bank of Algeria (BNA) had become the first state bank to obtain a sharia compliance certificate from the Sharia Board for issuing Fatwas for the Islamic Finance Industry.

Algeria allows first Islamic finance products by state banks

Algeria said on Sunday it had given the go-ahead to a plan aimed at offering Islamic finance services, as it seeks new funding sources to cope with financial problems caused by a fall in energy revenues.
Nigerian National Petroleum Corporation (NNPC)

NNPC to sue Mexican oil firm over ‘stolen 48 million barrels of crude’

The Nigerian National Petroleum Corporation (NNPC) says it is taking legal action against a Mexican international oil firm which it accused of being a crime syndicate, SAMANO SA DE CV, and its officials over attempts to swindle the Nigerian government of over $125 million.
The new head of Nigeria's state oil company NNPC, Mele Kyari, speaks during an interview with Reuters in Abuja, Nigeria August 7, 2019. REUTERS-Afolabi Sotunde

Plans on to maintain four refineries – NNPC chief

The Nigerian National Petroleum Corporation, NNPC, Thursday, said it has concluded plans to rehabilitate and build new plants, as all the four refineries are currently down, thus forcing the government to import petroleum products from the global market.
A vendor wearing a protective face mask serves customers inside his shop in Algiers, Algeria April 19, 2020. REUTERS-Ramzi Boudina

Algeria’s annual inflation up in June

Algeria’s annual inflation rose to 2.1% in June from 1.9% the previous month as prices for some foodstuffs went up, the government said on Sunday.

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Supporters, at 10-15am, defiled social distancing rules as Governor Godwin Obaseki and wife arrived Polling Unit in Benin to vote.

Edo election: I’m disappointed in INEC – Governor Obaseki

Edo Governor Godwin Obaseki has expressed disappointment at the conduct of the ongoing governorship election in the state.

Ibadan polytechnic sacks lecturer over sexual scandal

The authorities of The Polytechnic Ibadan have terminated the appointment of a lecturer in the Department of Urban and Regional Planning of the institution, Mr Kelani Ajadi, over sexual scandal with a female student.
The governorship election in Edo begins peacefully with impressive voters’ turnout in most wards across the state.7

Edo electorate hail INEC, security agencies

A cross-section of voters in Saturday’s governorship election in Ikpoba-Okha Local Government Area (LGA) of Edo has expressed satisfaction with the performance of the Independent National Electoral Commission (INEC) officials.

Housewife beats stepson to death in Kano

A 29-year-old housewife, Jamila Abubakar, has been arrested by operatives of the National Agency for the Prohibition of Trafficking in Persons (NAPTIP), for allegedly beating to death her seven-year-old step son, Muhammad Bashir.
Governor Nyesom Wike on Tuesday claimed the Niger Delta Development Commission, NDDC, spent the sum of N10 billion to fight him during the 2019 governorship election.

Edo election: Governor Wike commends INEC, security agencies for peaceful conduct

Gov. Nyesom Wike of Rivers on Saturday commended the Independent National Electoral Commission (INEC) and security agencies for the peaceful conduct of Edo governorship election.