Court declares NIMASA levies on NLNG illegal
A Lagos Federal High Court, Tuesday, held that Nigerian Liquefied Natural Gas, NLNG, was not liable to pay three percent gross freight on its international...
Business
Oando plans to boost gas supply with 8.5km Port Harcourt infrastructure
OANDO Plc has said it is set to expand the country’s gas production capacity, through its partnership with Rivers State government on completion and expansion...
NETCO records N5.1bn profit for 2015, 2016 financial year
The National Engineering and Technical Company Limited (NETCO), a subsidiary of Nigeria National Petroleum Corporation, has recorded a profit after tax of N5.1 billion for...
FG raises N6.3b in 7-months from bonds
The Federal Government said it has in the last seven months, raised N6.3 billion through the monthly Federal Government of Nigeria Savings Bond (FGNSB) issuance...
FG to award 80% of crude lifting to NNPC
Federal Government has revealed that it plans to allocate 80 percent of crude lifting to Nigerian National Petroleum Corporation, NNPC Trading, an arm of the...
Naira looses value as NAFEX records $178.5m
The naira Thursday, depreciated marginally to N359.7 per dollar in the investors and Exporters (I&E) window while the $178.5 million was traded. According to data...
Shell kicks-off gas production in Niger Delta
Royal Dutch Shell, Wednesday, said it has started gas production from the second phase of the Gbaran-Ubie project in Nigeria’s Niger Delta region. The project...
N513bn spent on debt servicing in 2017 — NEITI
The Nigeria Extractive Industries Transparency Initiative, NEITI, has expressed concern over Nigeria’s level of indebtedness, declaring that the country’s debt in relation to revenues have...
Niger Delta becoming unattractive to investors – SPDC
Mr. Igo Weli, the General Manager, External Relations, Shell Petroleum Development Company (SPDC), yesterday said the Niger Delta was no longer attractive for investment. Niger-Delta...
Nigeria could sleep back to deep recession if- Emefiele
The Governor, Central Bank of Nigeria (CBN), Godwin Emefiele, has said that Nigeria’s economy could slip back into a ‘protracted recession’ if all necessary fiscal...