Only 2 NNPC subsidiary companies are profitable – BudgIT

A recent report by BudgIt, a research and business intelligence firm, has revealed that only two of the 11 subsidiaries of the Nigerian National...

Nipco launches $16m offer for Mobil Oil shares to take stake to 70%

Nipco Plc has launched a 4.84 billion naira ($16 mln) offer for the shares it needs to take its stake in Mobil Oil to...

NNPC repays N450bn debt owed to FG

The Nigerian National Petroleum Corporation (NNPC), said it has repaid its N450 billion indebtedness to the Federal Government, Vanguard reports. The NNPC in its April...

NNPC sustains losses with N39.3bn deficit in April

The monthly financial losses of the Nigerian National Petroleum Corporation since the beginning of this year continued in the month of April, The Punch...

NBET to receive second batch of N701bn lifeline soon

Acting President Yemi Osinbajo on Tuesday said the Federal Government would soon release a second batch of the N701bn intervention fund to the Nigeria...

Anxiety mounts over Nigeria’s budget as oil prices drop to seven-month low

Anxiety may have heightened on how to finance Nigeria’s 2017 budget as oil prices fell to a seven-month low yesterday, after news of increases...

Forte Oil begins process for N20bn share sale

Forte Oil said on Monday that it plans a 20 billion naira ($66 mln) share sale to institutional and high net worth investors and...

Nigeria will exit recession next year – Statistician General

The Statistician General of the Federation, Dr. Yemi Kale has said barring further economic upheavals or exogenous shocks, the Nigerian economy is expected to...

Osinbajo optimistic mining sector will grow to $27bn by 2020

Acting President, Pro Yemi Osinbajo has said the federal government is optimistic that by 2020 the contribution of the Mining sector will grow to...

Nigeria earns $2.5bn from oil, gas exports over 12 months – NNPC

According to the Nigerian National Petroleum Corporation (NNPC), Nigeria’s total crude oil and gas export receipt from March 2016 to March 2017 stood at...

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