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W’Bank provides $350m loan to Nigeria for rural electrification

The World Bank on Tuesday announced the provision of a $350m loan (N107.4bn at the official exchange rate of N307 to a dollar) for...

OPEC’s oil output cap on Nigeria threatens its budget projection

The Organisation of Petroleum Exporting Countries (OPEC), on Thursday agreed to cap the combined output of Nigeria and Libya at 2017 levels, i.e. not...

Fashola unveils FG’s strategy in obtaining $5.2b W. Bank loan for power sector

The Minister of Power, Works and Housing, Mr Babatunde Fashola, while speaking at an interactive forum with the media and members of civil society in...

NNPC targets $5bn cash-for-crude prepayments with oil traders

Nigeria’s state oil firm, NNPC is looking to set up a $3.5-$5 billion cash-for-crude prepayment with some of the world’s top commodity traders to...

FG attracting N383bn to raise 14,000mw transmission capacity – TCN

The Interim Managing Director of the Transmission Company of Nigeria (TCN), Mr Usman Gur Mohammed, has said the public utility wants to attain 14,000...

NNPC justifies 2.3mbpd crude oil projection for 2018 budget

The Nigerian National Petroleum Corporation (NNPC) has said the Federal Government’s 2.3 million barrels per day crude oil projection for the 2018 Budget is...

NNPC boss reels out guidelines for Nigeria’s diversification away from oil

The Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Dr. Maikanti Baru, on Friday in Zaria proffered illuminating guidelines for Nigeria to...

New regulation threatens banks’ exposure to N466b power sector loans

The nation’s banks could lose over N466 billion in exposures to the power sector due to the new policy by the Nigerian Electricity Regulatory...

FG plans N112bn from marginal field bid round to fund 2018 budget

The Federal Government plans to partly fund the 2018 budget from around N112 billion revenue that will come mostly as signature bonuses from the...

NNPC, Chevron wrap up $1.7bn deal to increase oil and gas production

Nigerian National Petroleum Corporation (NNPC) and Chevron Nigeria Limited (CNL) have executed the second and final phase of an Alternative Financing Agreement that would...

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