Senate queries PTDF’s N57b backlog claim

Sequel to the Petroleum Technology Development Fund’s (PTDF) cry of possible bankruptcy over the weekend, the Senate Committee on Petroleum (Upstream) has issued the...

NNPC refutes owing FAAC N2.3 trillion

The management of NNPC on Sunday has refuted a statement credited to Gov. Adams Oshiomhole of Edo that the Corporation owes the Federation Accounts...

Oil falls below $104 a barrel as inventories rise

Oil prices on Thursday shed some of the prior day's gains after a report showed a bump upward in U.S. crude inventories. Benchmark oil for...

OPEC daily basket price stood at $106.08 a barrel Wednesday, 2 October 2013

The price of OPEC basket of twelve crudes stood at 106.08 dollars a barrel on Wednesday, compared with $105.42 the previous day, according to OPEC Secretariat calculations .  The...

World Bank, IFC to mobilise private sector investments in Nigeria’s power sector

The World Bank Group on Tuesday restated its commitment to continue to support the Nigerian Government's efforts to mobilise private sector investments in the...

$2bn power sector loan: Sanusi tasks FG to strengthen value-chain

In view of the huge amount put in by banks in the country to fund the privatisation of the power sector, which is currently...

CBN bans importation of foreign currencies

The Central Bank of Nigeria (CBN) may have taken a definite stance to shore up the value of the naira against the persistent free...

CBN sold $2.8bn to stabilise Naira in September

Despite the pressure faced by the naira at other segments of the forex market in September, the traditional intervention of the Central Bank of...

Oil prices lower as U.S. government remains shut down

Oil prices ended lower on Tuesday and extended losses after the market closed as U.S. politicians continued battling over how to overcome a budget...

NNPC rebuffs House on N320.65bn revenue shortfall

The Nigerian National Petroleum Corporation (NNPC) has dismissed the statement by the House of Representatives Committee on Finance, saying there was no revenue shortfall...

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