The House of Representatives Ad-hoc Committee on the Subsidy Regime had  on Wednesday faulted the Depot and Petroleum Products Marketers’ Association of Nigeria for creating untold hardship for Nigerians who buy Kerosene. The committee had observed that...

The Nigerian bond market was full of activities last week, as traders hastened to take advantage of key decisions of the monetary policy committee meeting and the huge monthly in-flow from the Federal Accounts Allocation Committee (FAAC),...

After receiving startling revelations last week concerning the 2012 fiscal year N 30 billion compensation budget of the Department of Petroleum Resources (DPR), the Senate Committee on Petroleum Resources (Downstream) has ordered the DPR to submit its...

Former Finance Minister and foremost economist, Kalu Idika Kalu,  has been drafted by the Federal Government to lead the National Refineries Task Force (NRTF). According to a statement released by the Ministry of Petroleum, the Refineries Task Force is...

The House of Representatives adhoc committee investigating the fuel subsidy regime has made some progress in getting to the bottom of the matter as it has indicted international energy trading company Vitol Oil as responsible for aiding...

The market declined in the second consecutive session today as profit-takers continued to reap from significant price appreciation recorded in the banking sector in January. The All Share Index (ASI) closed down by -0.48% to settle at...

The Naira exchange rate appreciated to the strongest in more than two months after the central bank sold dollars to lenders. The naira appreciated 0.4 percent to 159.45 per dollar as of 2.20 p.m. in Lagos, the...

UBA Plc, one of the top banks in the country, has issued a profit warning in respect of its 2011 Year End results. Analysts are expecting the company to report a loss of anywhere between N 2...

The Chairman, Senate Committee on Privatisation and Commercialisation, Gbenga Obadara has called for resignation of the Minister for Petroleum, Mrs. Diezani Allison-Madueke, to allow fair probe into the ministry’s activities. Obadara who represents Ogun Central Senatorial District,...

Nigeria and Angola, Africa’s biggest oil producers, have granted stakes in oil fields to companies that may be acting as fronts for government officials, stifling development in both countries, according to anti-corruption group Global Witness. While increased oil output has generated billions...