The Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mr. Gbenga Komolafe, has said Nigeria lost about N434 billion (about $1 billion) to oil theft between January

With Nigeria’s fuel subsidy payout averaging N500 billion monthly, total expenditure on subsidy could hit a record N6 trillion mark by year-end, the International Monetary Fund (IMF) warned on Monday.

Oil prices climbed above $120 a barrel on Monday, hitting their highest in more than two months as traders priced in expectations that the European Union would eventually reach an

Managing Director/Chief Executive of Nigeria Sovereign Investment Authority (NSIA), Mr. Uche Orji, has said the investment authority has no plan to re-dominate its assets from the United States dollar into

Nigeria’s federal government said new policies and innovations to alter existing procurement value chain for improved procurement and budget implementations have been introduced. It said the revised methods included Request

The world’s richest man, Elon Musk has revealed that the Nigerian Communications Commission (NCC) has issued its firm, Starlink Internet Limited, with two licences to operate in Nigeria. Starlink Internet

  The African Development Bank (AfDB) has embarked on the designing of youth entrepreneurship investment banks in 13 African countries, including Nigeria, even as it disclosed that it had obtained

Nigeria’s low crude oil production means the country is barely able to cover the cost of imported petrol from its oil and gas revenue, the Minister of Finance, Budget and

World’s richest man, Elon Musk has been sued by Twitter Inc. investors, claiming he manipulated the company’s stock price downward when he mounted a $44 billion takeover bid for the

Glencore, a mining and commodities trading firm has agreed to pay over $1.1 billion for various infractions, including paying bribes to several African countries to get mouth-watering crude oil purchase

The African Refiners and Distributors Association (ARDA) has said Nigeria and other African countries would need at least $15.7 billion to upgrade existing refineries in their bid to reduce sulphur

After holding the Monetary Policy Rate (MPR) constant at 11.5 per cent for about two and a half years, the Monetary Policy Committee (MPC) of the Central Bank of Nigeria

The cost of importing petroleum products of all kinds into Nigeria has soared to over $28 billion on an annual basis, Blackgold Energy Authorities, an oil and gas consulting and

The Nigerian National Petroleum Company Limited (NNPC) Limited and it’s Joint Venture (JV) partner, Sahara Group, on Monday took delivery of two 23,000 CBM Liquefied Petroleum Gas (LPG) vessels at

The President of the African Development Bank (AfDB), Dr. Akinwumi Adesina, Sunday said the bank would lend $500 million to women this year. He added that the bank also paid

Most Nigerians are no longer able to afford major expenditure on discretionary or non-essential goods and services as inflation has continued to take its toll on their purchasing power, a

The Central Bank of Nigeria (CBN) on Saturday debunked reports that it planned to replace the conventional Naira notes in circulation with digital currency, otherwise known as the eNaira, in

Infrastructural challenges facing rural communities in Nigeria should ease, as solar energy system with a 20-year lifespan arrives in the country. According to the Managing Director, E-Cube, Ilan Lugassy, the

Politicians stocking up dollars ahead of political parties’ primary elections over the weekend have driven the naira to a new low of N600 to a dollar on the parallel market.