Nigerians have been told to expect another hike in the pump price of petrol.
This is as a result of the rise in the cost of crude oil, coupled with the depreciation of the naira against the United States dollar.
Oil...
The Independent Petroleum Marketers Association of Nigeria, IPMAN, yesterday said contrary to claim of unavailability of petroleum products, the Nigerian National Petroleum Company Limited, NNPCL, has directed marketers to begin loading at Pinnacle Depot in Ibeju Lekki, Lagos.
This is...
The Organisation of Petroleum Exporting Countries (OPEC) and its allies on Monday agreed to cut monthly oil output by 100,000 barrels per day in October. OPEC disclosed this at its 32nd OPEC and non-OPEC ministerial meeting, according to a...
The Nigeria Customs Service on Thursday questioned the National Petroleum Company Limited’s claim that the country consumes 60 million litres of petrol daily. The Customs comptroller-general, Hameed Ali, during a session with the House of Representatives’ Committee on Finance...
Naira strengthened against the U.S. dollar at the official market on Tuesday. The local unit appreciated 0.52 per cent from N431.00 to close at N428.75 to a dollar on Tuesday, data published on the FMDQ website where forex is...
It is quite evident that Nigerian banks are in war mode as the battle for digital supremacy switches from modest fisticuffs to a full-blown slugfest. The struggle for service space dominance rather than the power of physical place captures...
The United States’ International Development Finance Corporation (DFC) on Monday signed a commitment letter for $280 million in financing for Access Bank Plc in Nigeria. The DFC is the U.S. government’s development finance institution that provides secure private investment...
Nigeria’s upstream petroleum regulator has contradicted a statement by the Presidency announcing President Muhammadu Buhari’s approval of Seplat Energy’s acquisition of Mobil Producing Nigeria Unlimited from Exxon Mobil Corporation. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) said Monday the...
The Trans-Niger Pipeline, a major pipeline capable of transporting about 180,000 barrels of crude per day, has stopped transporting the product since mid-June due to theft. Despite the development, the pipeline has not been formally shut, Bloomberg reported Wednesday...
Naira fell significantly against the U.S. dollar at the official market on Tuesday, a day after the currency recorded a meagre gain at the spot market. According to data published on the FMDQ website where forex is officially traded,...