FG intensifies efforts to curb $6b yearly loss to pipeline vandalism
The Federal Government at the weekend stepped up efforts to curb the spate of petroleum pipeline vandalism that cost the nation an estimated $6 billion annually. Already, Minister of Petroleum Resources, Deizani Alison-Madueke has promised a robust and...
- Posted 73 days ago
Recurrent Budget Expenditure Experiences New Highs After Decade Of Democratic Rule
Recent statistics and analysis have shown that the budget expenditure at the recurrent level, has increased astronomically since Nigeria returned back to Civilian rule. A development that would obviously call for more frugality and caution. In...
- Posted 154 days ago
Naira Dips on Low CBN Dollar Sales
Africa’s biggest crude oil producer’s currency the ‘naira’ declined in transaction by 0.4% to $157.4 as at 4.30pm yesterday in Lagos the biggest since October 5. This according to Bloomberg has been rated the second-best performance in Africa. It...
- Posted 198 days ago
Oil Drops From Seven-Week High On Outlook For Economy
Oil fell from a seven-week high in New York on concern fuel demand may falter after Chinasignaled more economic weakness and analysts cut their profit forecasts for European companies at the fastest rate since 2009. Futures slid as much as...
- Posted 309 days ago
Oil Trades Below $80 For A Third Day On Economic Outlook
Oil traded below $80 a barrel for a third day in New York after a report indicated that central banks will struggle to boost global economic growth, threatening demand for fuel. Futures slid as much as 0.6...
- Posted 332 days ago
Greek oil tanker hijacked near Nigeria released
A Greek oil tanker hijacked by gunmen off the coast of Nigeria at the weekend has been released along with its 20-strong crew, the Greek coastguard told AFP Monday. The Liberian-flagged oil tanker Aegean Star owned by...
- Posted 674 days ago
PT Pertamina Bought Nigerian Qua Iboe and Escravos Crude Oil Cargoes
PT Pertamina, Indonesia’s state oil company, bought two cargoes each of Nigerian Qua Iboe from Gunvor SA and Escravos crude from Vitol Group, according to four people who participate in the West African crude market. The shipments are...
- Posted 679 days ago