All posts tagged "Crude Oil"
Nigeria to witness downturn in crude oil export in 2014 – FG
Nigeria may witness a drastic fall in the demand for crude oil from the global market in 2014, the federal government has disclosed. This disclosure is contained in Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper...
- Posted September 22, 2013
External trade rose by N242bn in Q2 – NBS
The National Bureau of Statistics on Sunday said that the country recorded an increase of N242.3bn or 4.8 per cent in external merchandise trade in the second quarter of this year. The bureau, in its trade statistics...
- Posted September 17, 2013
Dangote wants government to export petroleum products
The President/Chief Executive Officer, Dangote Group, Alhaji Aliko Dangote, has urged the government to begin the production of petroleum products for export as part of strategies to diversify the nation’s export base. He made the call in...
- Posted August 27, 2013
FG committed to rapid diversification of Nigeria’s economy – President Jonathan
President Goodluck Jonathan Thursday in Abuja reaffirmed his administration’s determination to do all within its powers to facilitate and encourage the rapid diversification of Nigeria’s economy. Speaking at an audience with the outgoing Ambassador of the Czech Republic to...
- Posted August 22, 2013
Navy, NSCDC seek stiffer penalty for oil thieves
The Nigerian Navy and the Nigeria Security and Civil Defence Corps have advocated a stiffer punishment for oil thieves. The nation, which is losing over $7bn (N1.13tn) in revenue annually to oil theft, has continued to battle...
- Posted August 18, 2013
Europe to ban oil stolen from Nigeria
The European Parliament is set to stop the purchase of stolen oil from Nigeria in Europe. Any crude oil meant to be sold in the European market is now to be accompanied with a certificate of origin....
- Posted July 22, 2013
Shell shuts oil pipeline six days after reopening, production drops by 150,000 barrels
Six days after it reopened the Trans Niger Pipeline, which was shut down following a fire incident in June, Shell Petroleum Development Company of Nigeria Limited has again shut the pipeline due to a leak. As a...
- Posted July 12, 2013
Okonjo-Iweala to FIRS: Consider birth certificate as tax registration
As the country’s fortunes dwindles from the sale of crude oil, the Coordinating Minister for the Economy and Minister of Finance, Dr Ngozi Okonjo-Iweala, has instructed the Federal Inland Revenue Service (FIRS) to employ “any efforts” to...
- Posted July 5, 2013
Nigeria retires matured bonds in move to curb local debt
Nigeria retired matured bonds and plans to cut domestic borrowing to 500 billion naira ($3.1 billion) next year as part of a move to reduce growing debt,Bloomberg reports Finance Minister Ngozi Okonjo-Iweala said. This year’s local borrowing...
- Posted June 9, 2013
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 March 11, 2013
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 December 20, 2012
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 November 6, 2012