New revenue sharing formula ready soon – RMAFC

The Chairman, Revenue Mobilisation Allocation and Fiscal Commission, Mr. Elias Mbam, on Monday assured Nigerians that a new revenue sharing formula among the three...

Sanusi justifies diversification of Nigeria’s reserves

The Governor of the Central Bank of Nigeria (CBN), Mallam Sanusi Lamido Sanusi, Monday justified the central bank’s decision to diversify the country's reserve...

Brent falls by more than 1% as traders reclaim risk buy

Brent crude oil futures fell more than 1% on Monday as concerns of an imminent strike on Syria eased, and traders reduced positions taken...

OPEC daily basket price stood at $112.10/b on Friday 6th of September 2013

The price of OPEC basket of twelve crudes stood at 112.10 dollars a barrel on Friday, compared with $111.47 the previous day, according to...

Oil theft, poor electricity supply hurt GDP growth in Q2 2013

Supply disruptions in the oil sector as a result of pipeline vandalism remained a significant challenge to the sector's contribution to economic output in...

Dangote’s oil refinery loan has seven-year tenor – Banking sources

The $3.3 billion syndicated loan secured by Dangote Industries last week to build a 400,000-barrel per day oil refinery and petrochemical plant is said...

Budget: Oil production estimates short by N1.1trillion

About 65 million barrels of crude oil worth N1.1 trillion was short in the first half of this year, using the 2013 budget estimate...

FG generated N2.3 trillion in second quarter

The total federally-collected revenue in the second quarter (Q2) of 2013 stood at N2.371 trillion, the Central Bank of Nigeria (CBN) revealed at the...

Oando concludes payment of N5.1bn in dividends

Oando Plc, a leading integrated energy group listed on the Nigerian Stock Exchange (NSE) and Johannesburg Stock Exchange (JSE) yesterday said it had concluded...

Diamond Bank commits N150bn to oil, gas financing

The Corporate Banking Director, Diamond Bank Plc, Mr. Samuel Egube, has said that the bank has put together about $1bn (N150bn) for the funding...

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