The Nigerian National Petroleum Company Limited (NNPCL) has reported that Nigeria recorded 164 crude oil theft incidents between August 19 and 25, 2023. The company, which made this disclosure during its weekly “Energy and You” series aired on the NTA News Network, indicated that in the period under review, it recorded a total of 41 […]
The Minister of State for Petroleum Resources (Oil), Sen. Heineken Lokpobiri, has assured Nigerians that the Federal Government, as part of its current efforts to end petroleum product importation soon, will ensure that the Port Harcourt refinery resumes operations by the end of this year. The minister, who was accompanied by the Minister of State […]
The National Bureau of Statistics (NBS) on Friday disclosed that Nigeria’s Gross Domestic Product (GDP) grew by 2.51% year-on-year in real terms in the second quarter of 2023, representing 0.2% points higher than 2.31% recorded in Q1 2023 but 1.03% lower compared to 3.54% recorded in the corresponding period of 2022. The statistics agency’s ‘Gross […]
The Lagos Chamber of Commerce and Industry (LCCI) has called on President Tinubu-led administration to urgently embark on institutional reforms to complement its ongoing initiatives targeted at sustaining the nation’s economic growth. The President of the organized private sector (OPS) group, Dr. Michael Olawale-Cole, made the call at the end of the 2023 Mid-Year Economic […]
The National Bureau of Statistics (NBS) reported on Monday that the price of Premium Motor Spirit (PMS) also known as petrol surged by 215.95% between July 2022 and July this year. The statistics agency, in its latest ‘Premium Motor Spirit Price Watch’ report for July this year indicated that while Nigerians paid N190.01 per litre […]
The Nigerian Content Development and Monitoring Board (NCDMB) in partnership with Founder Institute (FI) has unveiled its plans to launch new 17 portfolio companies that have been trained in its Technology Incubation and Innovation Centre (TIIC) Information from the Board indicated that the launch of the companies would hold this Thursday at the Nigerian Content […]
Economic researchers at the Centre for the Study of Economies of Africa (CSEA), one of the leading economic research and consulting services firm with focus on developments in African economies, has advised the Federal Government to adopt short and long-terms measures to mitigate the impact of the recent fuel subsidy removal policy on ordinary Nigerians. […]
…….N635.3bn from solid minerals sector in 14 yrs The Nigerian Extractive Industries Transparency Initiative (NEITI) has reported that Nigeria earns a total $741.48 billion from the oil and gas industry between 1999 and 2020. Similarly, the agency reported that the country also generated N635.3 billion from the solid minerals sector between 2006 and 2020 fiscal […]
A foremost economic analyst and Chief Executive Officer of Economic Associates, one of the leading economic consulting services firms in Nigeria, Dr. Ayo Teriba, has urged President Bola Tinubu-led administration to unbundle the Nigerian National Petroleum Company Limited (NNPCL) and the Central Bank of Nigeria (CBN) as a strategic step to mitigate the current whirlwinds […]
The Nigerian National Petroleum Company (NNPC) Limited and the African Export-Import Bank (Afreximbank) today signed a Commitment Letter and Termsheet for an emergency $3 billion crude oil repayment loan to ensure improved FX earnings by Nigeria from crude oil exports. The signing ceremony, which took place at Afreximbank’s headquarters in Cairo, Egypt, based on the […]