Nigeria solidifies position as AfDB’s largest shareholder

Nigeria’s President, Muhammadu Buhari, will commission the new office complex of the African Development Bank in Abuja on January 18, 2018, consolidating the country’s...

Bitcoin mining could end up using more global power than electric cars

The global power needed to create cryptocurrencies this year could rival the entire electricity consumption of Argentina and be a growth driver for renewable...

OGFZA asks FG to suspend funding, says it can survive on its IGR

The Managing Director of the Oil and Gas Free Zones Authority (OGFZA), Mr. Umana Okon Umana, has formally written to the Minister of Finance,...

Oil price reaches $70 for first time since 2014

Oil topped $70/bbl in London for the first time in three years as production cuts by OPEC and rising demand whittle away a global...

Oil price hits fresh three-year high of $69

Crude futures held at fresh three-year highs in European morning trading Thursday, as a larger-than-expected draw on US crude stocks continued to outweigh signs...

Several Nigerian independents failed to pay petroleum profit tax in 2015 – NEITI

According to the latest audit report of the Nigerian Extractive Industry Transparency Initiative (NEITI), sixteen Nigerian owned companies, all of them hydrocarbon producers, defaulted...

NNPC posts N68.84bn loss in 10 months of 2017

The Nigerian National Petroleum Corporation posted a group operating loss of N68.84bn between January and October 2017, The Punch reports. According to the latest oil...

Nigeria’s external reserve rises to $40.4bn – CBN

According to latest Central Bank of Nigeria (CBN) figures, the rising crude oil price in the international market has pushed Nigeria’s external reserve to...

AfDB, NDF, others make $55m investment in Off-Grid Energy Access Fund

On December 15, the African Development Bank’s Board approved a US $30-million investment in the Facility for Energy Inclusion Off-Grid Energy Access Fund (“FEI...

Nigeria focused oil firm San Leon sees collapse in share sale discussions

The Directors of San Leon today confirm that discussions with both China Great United Petroleum (Holding) Limited ("CGUP"), originally announced on 28 June 2017,...

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