Latest News

• 
  Fuel scarcity: Loading improves at depots

  The scarcity of Premium Motor Spirit (petrol) on Monday continued to take a toll on motorists who had to stay in queues for hours at the few filling stations selling the product in Lagos and Ogun states....

  • Posted April 20, 2016
  • 0
• 
  We paid FG $42bn in five years – Shell

  The Netherlands-based Royal Dutch Shell Plc on Monday said the economic contribution from Shell Petroleum Development Company of Nigeria Limited joint venture partners to the Federal Government was $42bn from 2011 to 2015. The oil giant said...

  • Posted April 20, 2016
  • 0
• 
  NNPC fights ExxonMobil, Shell over oil cargoes

  The Nigerian National Petroleum Corporation is in a standoff with energy giants, ExxonMobil and Royal Dutch Shell, over ownership of physical crude cargoes as the country seeks to shore up the budget. The dispute has delayed some...

  • Posted April 20, 2016
  • 0
• 
  Gainful employment of youth is my priority – Dangote

  President of Dangote Group, Aliko Dangote, has assured Nigerians that topmost on his priority is how to contribute his own quota towards reducing the high rate of un-employment in the country. Speaking in Okpella, Edo State last...

  • Posted April 20, 2016
  • 0
• 
  Zenith Bank records N27bn profit in First Quarter

  Zenith Bank Plc on Monday announced a profit after tax (PAT) of N26.573 billion for the first quarter ended March 31, 2016, showing a decline of about four per cent compared to N27.680 billion recorded in the...

  • Posted April 20, 2016
  • 0
• 
  FG turns to taxman as oil revenue shrinks

  After gorging itself for decades on petrodollars, the Nigerian state has been forced by tumbling oil prices to turn to a new source of cash: the taxman. With crude holding sway as the main source of state...

  • Posted April 20, 2016
  • 0
• 
  OPEC to restrategise on output freeze as oil slumps 7% – Kachikwu

  As crude oil prices fell as much as seven per cent in early trading monday, before rallying slightly, after attempts by some of the world’s biggest producers to freeze output ended without a deal on Sunday, the...

  • Posted April 20, 2016
  • 0
• 
  Gas supply: NNPC, Total invest $5.7bn on OML 58 upgrade projects

  Total Exploration and Production (E &P) and the Nigerian National Petroleum Corporation (NNPC) are investing $5.7 billion to upgrade the Oil Mining Lease (OML) 58 production facilities in order to boost domestic power supply in the country...

  • Posted April 20, 2016
  • 0
• 
  Ondo set to begin bitumen exploitation

  The Ondo State Government has said that it is set to begin the exploitation of bitumen, one of the mineral resources found in the state in commercial quantity. Briefing newsmen on the development in Akure on Sunday,...

  • Posted April 19, 2016
  • 0
• 
  Failure to save oil revenue indefensible – Sanusi

  The Emir of Kano and the immediate past Governor of the Central Bank of Nigeria, Muhammadu Sanusi II, on Sunday described the country’s failure to save oil revenue when the price of the commodity was high as...

  • Posted April 19, 2016
  • 1
• 
  Nigeria, others fail to agree on oil freeze deal

  Some of the world’s biggest oil producers, including Nigeria, on Sunday failed to agree on the proposed production freeze for which they converged on Doha, the Qatari capital, in a bid to limit global supply and prop...

  • Posted April 19, 2016
  • 0
• 
  Stanbic IBTC expresses commitment to SME development

  Citing capital as the single most important factor for the sustainable growth of small and medium scale enterprises (SMEs), the Head, SME Banking, Stanbic IBTC Bank, Mr. Obinna Ukachukwu, has assured that the bank is committed to...

  • Posted April 19, 2016
  • 0
• 
  Airlines may ground flights as fuel scarcity bites harder

  Airline operators have urged passengers to expect more delays or cancelled flights as the scarcity of aviation fuel, known as Jet A1, bites harder, adding that scheduled operations may stop altogether, unless more fuel is delivered in...

  • Posted April 19, 2016
  • 0
• 
  2.6GHz will boost spectrum availability for broadband – NCC

  The Nigerian Communications Commission (NCC) has restated the importance of the planned auction of the 2.6GHz spectrum frequency, insisting that it will enhance the availability of spectrum for speedy deployment of broadband services across the country. The...

  • Posted April 19, 2016
  • 0