Nigeria to earn $6b in forex annually from Dangote refinery

The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has said that the N2.8 trillion Dangote refinery would earn about $6 billion...

Blackstone-backed Black Rhino and Dangote Industries to invest $5 billion in African energy infrastructure...

Blackstone (NYSE:BX) and Dangote Industries today announced a commitment by Black Rhino, a portfolio company of Blackstone Energy Partners and affiliated funds managed by...

House: NNPC figure on crude oil sales, a ruse

Following the release, last Thurday, of its crude oil sales from January to July this year, the House of Representatives Committee on Finance has...

OGFZA unveils 4-Year road-map, to grow investment by 80%

Following a two-day intensive management retreat, the Oil and Gas Free Zones Authority (OGFZA) has developed a four-year roadmap, which would enable the organization...

Nigeria picks Goldman, Credit Suisse, UBS for wealth fund

Nigeria's sovereign wealth fund on Wednesday appointed Goldman Sachs, UBS and Credit Suisse as asset managers for the 20 percent portion of its $1 billion fund...

$1.48b yet to be remitted by NNPC to federation account – PwC Report

The Nigerian National Petroleum Corporation ( NNPC) has said that a forensic audit conducted by audit firm PriceWaterhouseCoopers (PwC) has cleared it of the...

World Bank, AfDB commend Nigeria on subsidy investment, power privatisation

The African Development Bank (AfDB) has commended the Federal Government for investing the proceeds from the partial removal of fuel subsidy on the development...

Brent up on equities rise, US crude down

Brent crude futures jumped 4 percent on Tuesday as strong stock markets helped the global oil benchmark recover substantially from a 6 percent tumble...

CBN bars 9 banks from forex transactions for concealing $2.125bn NNPC funds

The Central Bank of Nigeria (CBN) has barred nine banks from all foreign exchange transactions for concealing and failing to remit the Nigerian National Petroleum...

Nigeria’s oil earnings dip by 34.1% in Q1, 2016 – CBN

According to data released by the Central Bank of Nigeria (CBN), Nigeria’s earnings from crude oil and gas, Petroleum Profit Tax (PPT) and Royalties...

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