Nigeria’s naira headed for the biggest gain in three weeks after the central bank doubled the amount of dollars banks can sell to foreign-exchange bureaux. The currency of sub-Saharan Africa’s second-biggest economy appreciated 0.3 percent to 152.55 per...

Nigeria’s oil and gas reserves are declining at as much as 12 percent a year, with production from onshore and shallow-water oil fields having reached their peak, Petroleum Minister Diezani Alison-Madueke said. Africa’s largest oil producer plans...

Ten contraband containers valued at N2 billion in the last six months have been seized by The Nigeria Customs Service (NCS) at the Port and Terminal Multi-services Limited (PTML) Command. The Area Comptroller of the command, Nuhu Isa...

Afren’s chairman Egbert Imomoh will become president of the Society of Petroleum Engineers (SPE) in 2013, it was revealed today. Imomoh has been a member of the key international organisation for the oil and gas sector since...

OCEANIC Bank Plc has recorded a milestone in its recapitalisation process, following the signing of Transaction Implementation Agreement (TIA) with Ecobank Transnational Incorporated (ETI). When completed, the merged bank would become the third largest in the country....

US politicians finally struck a deal to solve their cash crisis last night, saving the world from economic ruin. President Barack Obama announced that Democrats and Republicans agreed a plan to raise America’s debt ceiling to $17TRILLION. He...