CATEGORY: OIL AND GAS NEWS

Akwa Ibom has taken Total Upstream to court over unpaid taxes

In yet another example of why Nigeria is a difficult place to do business, the Akwa Ibom state government...


Petralon deal confirms Julius Berger diversifying going into oil and gas industry

In a notice sent yesterday to the Nigerian Stock Exchange (NSE), Julius Berger stated its intention of going into...




Why Forte Oil wants to raise N20 billion from the equity market

One of the top 5 major petroleum marketers, Forte oil has unveiled plans to raise N20 billion in equity...


30% of Nigeria’s forex was spent on fuel importation in 2016

The Central Bank of Nigeria (CBN) spent 30% of the country’s​ foreign exchange earnings on importing petroleum products in...




On PIGB, Kachukwu says bill is “impressive”

The Minister for State for Petroleum, Dr Ibe Kachikwu has tweeted his support for the recently passed Petroluem Industry...


It’s bulls galore as NIPCO launches MTO for Mobil Nigeria

Independent petroleum marketer, NIPCO Plc has opened its Mandatory Takeover (MTO) for minority shares in Mobil Nigeria Plc. NIPCO,...


Finally, Forcados is back…the nuggets

Nigeria’s major oil export platform Forcados Oil terminal issued its first loading plan since the it was shut down...


All the major economic news from Nigeria in 5 minutes – 2/6/2017

Summary of the top business, economic and political news in Nigeria today   The Manufacturing Purchasing Managers’ Index (PMI)...




Here’s where foreign investors put their money into in the first quarter of 2017

The National Bureau of Statistics last week released its 2017 first quarter capital importation report revealing Nigeria attracted just...


#PMBMidterm: Bucket list of all the ‘economic achievements’ of the Buhari administration

The presidency yesterday, released its mid-term factscheet just in time for the May 29 Democracy day celebrations. The factsheet was...


Deal: OPEC extends oil cuts for another 9 months

The Organisation of Petroleum Exporting Countries, OPEC, has agreed on Thursday, to  extend cuts in oil output by nine...


Okomu Oil Palm to spend N250 million on CSR this year

Nairametrics| Okomu Oil palm plans to spend N250 million on Corporate Social Responsibility (CSR) in 2017. Here is the...



GE to open $100 million plant that can service and repair power turbines

Contrary to earlier reports, General Electric (GE) plans to launch a repair and service plant for power turbines. News...


In secret, corporates come clean about their outlook for the economy

The recently concluded Renaissance Capital Annual Pan-African Conference aptly titled Stability is Returning, provided us with a unique insight...



Dangote can lift 2 million people from poverty

Nairametrics| A recently released report by Oxfam, an NGO based in the United Kingdom states that the top 5...



Federal High Court declares it is unlawful for regulatory agencies to impose fines

We received this press release on a ruling revealing that a Federal High Court has declared unlawful, the imposition...


The Nigerian Economy Today 16/5/2017 – Airtel Nigeria launches ‘Nuvu’ subscription based tv service

Summary of the top business, economic and political news in Nigeria today.   1. The Central Bank of Nigeriahas...


Why the Senate is investigating banks and oil majors over capital flight

Nairamterics|A joint senate committee has begun investigating several banks in the country over crude oil proceeds from oil companies....


Capital Importation into Nigeria by Sector (2007 – 2016)

Nairametrics| Data from the Central Bank of Nigeria shows Nigeria attracted a total of $5.1 billion in capital importation...


The Nigerian Economy Today 12/5/2017

Summary of the top busniess, economic and political news in Nigera.   A team from the Enforcement Department of...



The Nigerian Economy Today 11/5/2017

Summary of the top buisness, economic and political news in Nigeria.   The Managing Director of Nigeria Deposit Insurance...