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World Bank in critical talks with FG over increased power supply in Nigeria

Mr Joaquim Levy, the Managing Director and Group Chief Financial Officer, World Bank, told reporters in Lagos that power was important to the development...

FG begins receiving service proposals for Mambilla hydro power project

The Minister of Power, Works and Housing, Mr. Babatunde Fashola, speaking at the investiture of the 19th President of the Nigerian Council of Registered...

Brent near 5-mth low below $105, market braces for Libyan supply

Brent crude inched up on Thursday, but prices held near a five-month low under $105 a barrel as the market braced for a rise...

Oil price at $62 as OPEC signals deal, supply threats mount in Nigeria, Venezuela

Oil closed at its highest in more than two years for a second day as support grew for OPEC to prolong output cuts, while...

FG, States, LGs share N558bn in October as allocation decreases

Mr Ahmed Idris, Accountant-General of the Federation, said the Federal Government, States and Local Governments shared N558.082billion in October compared to N637.704billion shared in...

FG, states, LGs share N467.852bn for July 2017

The three tiers of government have shared a total of N467.852 billion for the month of July as the Federation Account Allocation Committee (FAAC)...

Conoil grows Q1 2017 profit to N3.3bn

Indigenous petroleum marketer, Conoil Plc, has reported a gross profit of N3.318bn for the first quarter of 2017, representing 67.66 per cent earnings rise...

Oil price surges above $60 for first time since 2015 on OPEC cuts optimism

Brent surged above $60 a barrel for the first time in more than two years amid enthusiasm that OPEC may extend its supply-restraint deal...

Acting President Osinbajo finally signs 2017 budget into law

Acting President Yemi Osinbajo signed the 2017 budget into law on Monday afternoon, according to Sahara Reporters. The budget, dubbed the “Budget of Economic Recovery...

Indigenous oil firms struggle with N4.9tn bank debts

After becoming key players in the nation’s oil and gas industry in recent years, indigenous firms are now struggling with a debt burden of...

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