Oil still accounts for 92% of Nigeria’s earnings

Despite the efforts of the Federal Government to diversify the economy away from oil to non-oil sector, receipts from the oil and gas sector...

At $33bn, external reserves hit 31-month high

The Central Bank of Nigeria (CBN) disclosed Thursday that Nigeria’s foreign exchange reserves have risen to a 31-month high of $33 billion, THISDAY reports. It was...

Aiteo says it has attracted FDI worth $4bn into Nigeria

A downstream oil and gas firm, Aiteo Group, yesterday said it has created significant direct and indirect employment, contributed billions of Naira and millions...

Nigeria focused San Leon Energy provides financial update

The Company announces that it posted its Annual Report and Accounts for the year ended 31 December 2016 on 08 September 2017 to shareholders...

NNPC remits $285m to Federation Account in 6 months

The Nigerian National Petroleum Corporation (NNPC), remitted $284.724 million to the Federation Account between January and June 2017 from its crude oil and gas...

Gencos yet to access N701b power loan – APGC

The Electricity Generation Companies otherwise known as (GenCos) are yet to access the power sector N701billion assurance guarantee funds, owing to their inability to...

Nigeria’s excess oil revenue rises to N610m per day

Nigeria’s excess crude oil revenue has risen by 50 per cent between August and September, 2017 following the increase of price from $49 to...

Oando proceeds with AGM as shareholders retain Tinubu, board

Oando PLC (referred to as “Oando” or the “Company”), Nigeria’s leading indigenous energy group listed on both the Nigerian and Johannesburg Stock Exchange, today...

Long term funding needed for Discos to stabilize power sector – Ecobank

The Head of Energy Research, Ecobank Group, Mr. Dolapo Oni, has said the the Distribution Companies (DISCOs), need a long term funding plan to enable...

Despite exit from recession, GDP growth still weak and dependent on oil – Economists

Economic experts and analysts on Tuesday welcomed the 0.55 per cent Gross Domestic Product growth rate recorded by the Nigerian economy in the second...

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