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  • NNPC loses N255.28bn in 11 months

    The total loss of the Nigerian National Petroleum Corporation from January to November 2015 has been put at N255.28bn, as against N240.98bn which it recorded from January to October in the same year. An analysis of the...

    • Posted January 2, 2016
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  • MAN hails government’s import substitution policy

    The President, Manufacturers Association of Nigeria, Dr. Frank Jacobs, has commended the Federal Government for pledging to encourage import substitution, adding that the government has responded to the yearnings of the association regarding the policy. “The import...

    • Posted January 2, 2016
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  • NNPC didn’t remit $4.7bn, N318bn to Federation Account – NEITI

    The Nigerian National Petroleum Corporation and its subsidiary, the Nigerian Petroleum Development Company, did not remit a total of $4.7bn and N318.2bn to the Federation Account in 2014, the latest report of the Nigeria Extractive Industries Transparency...

    • Posted January 1, 2016
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  • PENGASSAN, NUPENG differ on new petrol price

    The two major unions in the oil and gas sector, the Petroleum and Natural Gas Senior Staff Association of Nigeria and the Nigeria Union of Petroleum and Natural Gas employees, on Wednesday expressed divergent views on the...

    • Posted January 1, 2016
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  • FG, states, LGs owe electricity firms N45bn

    The debt owed the 11 power distribution companies by the three tiers of government has risen to N45bn, according to the latest data compiled by the Association of Nigerian Electricity Distributors. It was learnt that the debt,...

    • Posted January 1, 2016
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  • Nigeria to acquire two satellites from China for $701m

    Nigeria has opened talks with China for the financing and construction of two new communication satellites at a cost of $701m. The new satellites, to be known as NigComSat-2 and NigComSat-3, are to serve as backup to...

    • Posted January 1, 2016
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  • NECA DG advises FG on economic policies

    The Director-General, Nigeria Employers’ Consultative Association, Mr. Olusegun Oshinowo, has advised the Federal Government to refrain from making policies that will further constrain the ease of doing business. While speaking on the expected policy direction of the...

    • Posted January 1, 2016
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  • Reduce $38 oil benchmark – TUC tells FG

    The Trade Union Congress of Nigeria, Rivers State Council, has highlighted the need for the Federal Government to review downward the $38 per barrel proposed as the benchmark crude oil price for the 2016 budget. The Chairman,...

    • Posted December 31, 2015
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  • Nigeria targets N138bn annual income from cashew export

    The country is targeting an annual income of over $700m (N138bn) from the export of cashew nuts by the year 2020. The National President, National Cashew Association of Nigeria, Mr. Tola Faseru, who disclosed the figure at...

    • Posted December 31, 2015
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  • NNPC selling crude oil without export certificate – NACCIMA

    The Nigerian National Petroleum Corporation has been exporting the country’s crude oil without an export certificate of origin issued by the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture, the body has said. According to...

    • Posted December 31, 2015
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  • Nigeria, others need to boost refining capacity – OPEC

    The Organisation of Petroleum Exporting Countries has highlighted the need for more refining facilities in Nigeria and other African countries to meet their growing demand for petroleum products. OPEC, in its 2015 World Oil Outlook, said the...

    • Posted December 31, 2015
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  • Bear run opens investment opportunities in stocks

    The  bear run that has hit the nation’s stock market has  opened  up  investment opportunities in the banking,  conglomerate,  consumer goods and other sectors of the market, THISDAY checks  have revealed. The low crude oil prices, weakening...

    • Posted December 31, 2015
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  • Nigeria’s external reserves fall by 15% to $29.342bn in 2015

    Nigeria’s external reserves has so far depreciated by 15 per cent this year at its current value of $29.342 billion, compared with the $34.493 billion it was at the beginning of the year (January 5, 2015). This,...

    • Posted December 31, 2015
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  • FG approves new petrol prices: NNPC to sell at N86/litre, marketers N86.50k

    The federal government, through the Petroleum Products Pricing Regulatory Agency (PPPRA), on Tuesday approved new pump prices of petrol starting from January 1 to March 31, 2016 under a revised pricing template. Under the new pricing template,...

    • Posted December 31, 2015
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