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Nigeria’s excess crude account held $2.31bn on Sept 22 – Adeosun

Finance minister Kemi Adeosun said on Thursday that Nigeria’s excess crude account stood at $2.310 billion as of Sept. 22, Reuters reports. The figure, given by...

Dangote hopes for oil prices to remain low

Africa’s richest man, Aliko Dangote, said at the United Nations General Assembly in New York that he was praying for the global crude oil...

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...

Banks deny Egbin Power new credit line over FG’s N125bn debt

The Managing Director and Chief Executive Officer (CEO) of the nation’s biggest power station, Egbin Power Plc, Mr. Dallas Peavey, has said that commercial...

Lekoil set for more investment off Renaissance Capital ratings

Lekoil may be set to attract the required funding to emerge as a major oil and gas producer as a rating agency has given...

Banks can’t take action on impaired power loans due to importance of sector –...

The Group MD/CEO of Access Bank Plc, Mr. Herbert Wigwe, has explained why Nigerian banks have still not made provisions for most of the...

NNPC reshuffles 55 top staff in major shake up as Ewubare heads NAPIMS

The ongoing restructuring of the Nigerian National Petroleum Corporation, NNPC received fresh impetus on Tuesday with the appointments and deployments of top executives across...

Oando Plc gives further update on claims of a SEC investigation

Further to the initial press release by the Company (“the Company” or “Oando”) published on Friday, 14th July 2017 entitled ‘Oando PLC’s Official Statement...

FG launches $200m fund to help indigenous oil & gas firms

Nigeria's oil minister said the government launched a fund on Thursday with an initial value of $200 million to support local oil and gas firms,...

Nipco Plc raises stake in 11 Plc

Nigerian fuel distributor Nipco Plc has bought another 3.23 percent stake in 11 Plc, the fuel retailer formerly known as Mobil Oil Nigeria, for...

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