World Bank cuts Nigeria’s growth forecast on low oil prices, disruptions

The World Bank cut Nigeria’s economic growth forecast for this year, citing weakness from oil-output disruptions and low prices, The Nation reports. The lender, in...

Monthly oil revenue declines to N630.3bn in July

Production hiccups including a force majeure declared by Shell, shutdown of trunk lines and pipelines at Akpo and Bonny terminals caused a significant decline...

Oando Gas & Power plans to raise $1bn for projects – MD

Oando Gas and Power Limited (OGP), a subsidiary of Oando plans to raise $1billion to implement some short to long term projects it has...

Citi presents outlook for energy markets to Presidency

Citi recently gave a presentation on the outlook for energy markets to Vice President Yemi Osinbajo and members of the Federal Government’s Economic Management...

World Bank to support NEXIM Bank on Nigeria’s mining sector

Senior Mining Specialist, Energy & Extractives Unit, World Bank,  Dr. Francisco Igualada has said that the World Bank has pledged to support the Nigerian Export-Import Bank...

Reps give Okonjo-Iweala 1 week to submit PwC NNPC audit

The House of Representatives  Public Accounts Committee (PAC) has given the Coordinating Minister for the Economy and Minister of Finance , Dr Ngozi Okonjo-Iweala,...

FG to begin disbursement of 13% derivation fund to Lagos

Aliyu Mohammed, Chairman of the Indices and Disbursement Committee of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has said that the Federal Government...

OPEC daily basket price stood at $112.80/b on Thursday, 29th August 2013

The price of OPEC basket of twelve crudes stood at 112.80 dollars a barrel on Thursday, compared with $112.25 the previous day, according to OPEC Secretariat...

West Africa launches green investment platform

In the quest to implementing the Paris Agreement and achieving the Sustainable Development Goals (SDGs), three organisations convened a round table discussion focused on...

Nigeria’s external reserves drop to $27.840 billion

Nigeria’s external reserves stood at $27.840 billion as at last Thursday. The latest position of the reserves showed that it has depreciated by $251...

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