News - oil

Nigeria’ll Not Recover From Foreign Currency Shortage Soon – Moody’s

38 minutes ago /
Business and Economy  

Moody’s Investors Service says it may take a while for Nigeria and other sub-Saharan countries to recover from the foreign currency shortage at the forex market. In a report titled, 'Foreign Currency Shortages are Subsiding But Will Take Time To Overcome', the agency said although foreign currency shortages in Nigeria and...

Nigeria And India Seek Defence Partnership

6 hours ago /
Security 

Nigeria and India are seeking collaboration in the area of information sharing and training in order to strengthen their defence capabilities Major general Madhavan Chandran who led other top officers from India’s defence circle said at a meeting with senior officers from Nigeria that the partnership between both countries is strategic                                       Director of...

Minister Of Labor And Employment: N-Power Recruitment Opens After May 29

1 day ago /
Nation 

Nigeria's minister of labor and employment Chris Ngige says the second phase of the N-power recruitment of unemployed persons will be opened immediately after may 29, 2017. The minister who was reacting to questions on two years of Buhari’s administration says although the APC government had promised three million jobs yearly,...

CBN Releases List Of Items That Qualify For Forex

5 days ago /
Nation 

The Central Bank of Nigeria yesterday released list of 36 items valid for access to foreign exchange in the foreign exchange market.  In a circular to all banks and the general public yesterday the CBN said that the list of the 36 items valid was released to clarify misconceptions about...

Niger Delta Peace Initiatives Boost Oil Production, Refining - NNPC

6 days ago /
Nation 

The Nigerian National Petroleum Corporation has said that the peace initiative of the Federal Government has raised the capacity utilization of its three refineries in Port Harcourt, Warri and Kaduna in recent times. NNPC Group Managing Director, Dr. Maikanti Baru disclosed this in Abuja on Tuesday during an interactive session with...

Nigeria’s Refineries Processed 10 Million Barrels In Q1

6 days ago /
Nation 

Nigeria’s refineries processed 10 million barrels of crude oil in the first quarter of the year, higher than the eight million barrels, produced in the 2015 calendar. The production was successful as a result of interventions in the south-south oil producing region, through dialogue with militants, which reduced attacks on oil...

Osinbajo Seeks Partnership In Africa's Infrastructure Financing

6 days ago /
Nation 

Acting President Yemi Osinbajo on Tuesday solicited private and public sector partnership to boost infrastructure financing in Africa. He made the appeal while opening the African Infrastructure Summit, organised by the African Finance Corporation (AFC) in collaboration with the Federal Government in Abuja. At the event, tagged “Infrastructure Revolution” to mark...

House Of Reps Again Summons Adeosun

1 week ago /
Nation 

The House of Representatives committee on procurement has again ordered the Minister of Finance, Kemi Adeosun to appear before it unfailingly on May 23. Also summoned was the Minister of Works, Housing and Power, Mr Babatunde Fashola. This summon is coming after an earlier summon by the same committee which seemed to...

NDDC Signs MoU To Develop Niger Delta

1 week ago /
Nation 

The Niger Delta Development Commission (NDDC), has signed separate Memorandum of Understanding, MOU, with two key Development Partners to drive sustainable development in the Niger Delta region. The two MOUs were signed on Monday at the NDDC headquarters in Port Harcourt between the Commission and Market Development Project in Niger Delta...

Nigerian Government Won’t Interfere In Malabu OPL 245 Corruption Probe – Kachikwu

1 week ago /
Nation 

The Nigerian government has said that it will not interfere in the on-going court actions in respect of the Malabu Oil Prospecting Lease, OPL 245 scandal. The Minister of State for Petroleum, Ibe Kachikwu, made this known in a letter addressed to the Chairman of the Civil Society Network Against Corruption,...

Cross River To Eradicate Neglected Tropical Diseases By 2020

1 week ago /
Nation 

The Cross River State Government says it is making efforts to completely eradicate Neglected Tropical Diseases (NTDs) in the state by the year 2020. To this end, the Governor Ben Ayade-led administration has concluded a mass administration of medicines to treat and Prevent Onchocerciasis, Lymphatic Filariasis, Soil Transmitted Helminthic and Schistosomiasis...

Reps Summon Finance Minister Over Alleged Procurement Act Breach

1 week ago /
Nation 

The House of Representatives Committee On Public Procurement has ordered the Minister of Finance, Kemi Adeosun, to appear before it on Tuesday, May 16, over allegations of abuse and breach of the Procurement Act, 2007. The summon followed a resolution taken at the commencement of an investigative hearing into allegations of...

Nasarawa Fertilizer Project Will Ensure Food Security – Al-Makura

1 week ago /
Nation 

Governor Tanko Al-Makura of Nasarawa State has assured residents of food security when the new fertiliser blending plants commence operation. He gave the assurance when he visited the moribund Nasarawa fertilizer blending plant which is to be upgraded soon as the state government has signed a Memorandum of Understanding with a...

Oando Re-strategizes To Cushion Effect Of FX volatilities

1 week ago /
Business and Economy  

Oando Nigeria Plc has announced that it has adopted a holistic strategy that would help mitigate impairments resulting from foreign exchange (FX) volatilities in its operations. To this effect, the company disclosed that 90 per cent of its earning would subsequently focus on dollar denomination to cushion the effect of volatilities...

Okowa Promises Prudent Management Of Public Funds

1 week ago /
Nation 

Delta State Governor, Ifeanyi Okowa, has appealed to communities engaged in dispute over land to seek peaceful resolution of conflict. Governor Okowa made the call at a town hall meeting where he also assured the people of prudent management of public funds by his administration. He said contracts for the execution of...

Plateau State Governor Signs 2017 Budget

1 week ago /
Nation 

The Plateau State Governor, Simon Lalong, has signed the appropriation bill of one hundred and thirty-nine billion, four hundred and ninety-four million, three hundred and eight thousand, two hundred and fifty-six Naira (N139, 494,308,256:00) only as the 2017 Appropriation Law for Plateau State. This is made up of recurrent expenditure of...

Nigeria’s Public Finance Broken, Recurrent Expenditure In Excess Of Total Revenue - Soludo

1 week ago /
Business and Economy  

Former Governor of Central Bank of Nigeria, CBN, Professor Chukwuma Soludo,​ has expressed worry over the public finance system, lamenting that recurrent expenditure was in excess of total revenue.   Soludo also accused the current leadership of the apex bank​ of ​playing politics with foreign exchange and monetary policy​, which has negatively...

Forex: NACCIMA Lauds Central Bank’s Sanction Against Banks

1 week ago /
Business and Economy  

‎The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) has commended the Central Bank of Nigeria (CBN’s) decision to stop some banks from participating in the SME wholesale window of the forex market following series of complaints that some of the banks were deliberately frustrating efforts by...

Bayelsa Community Sues Eni In Italy For Oil Spillage Liabilities, Pollution In Ikebiri

2 weeks ago /
Nation 

The Ikebiri community, a coastal community in Southern Ijaw Local Government Area of Bayelsa State has dragged Eni, the parent company of Nigerian Agip Oil Company, to an Italian court over oil spillage liabilities and pollution. They are seeking clean-up and compensation for damages arising from an oil spillage that...

Sub-Saharan Africa Economic Growth To Recover Slightly In 2017 – IMF

2 weeks ago /
International News 

Economic growth in sub-Saharan Africa should recover slightly to 2.6 percent this year after a more than two-decade low in 2016 as commodity exporters faced lower prices, the International Monetary Fund said on Tuesday. The IMF said in its regional economic outlook, that the slight rebound will be driven by a...


‹ Prev 1 2 3 4 5 ... 71 Next ›