Controversy as Seplat disputes ExxonMobil deal cancellation
Hours after the President, Major General Muhammadu Buhari (retd.), announced the withdrawal of the approval given to Seplat Energy to buy Mobil Producing Nigeria Unlimited's shares, the company Thursday stated…
Oil demand rises as gas prices surge
Global oil demand will rise more than previously forecast this year as heatwaves and soaring gas prices are prompting countries to switch fuels for power generation, the International Energy Agency…
Nigeria facing existential threats – World Bank
The World bank on Wednesday alerted the regime of the President, Major General Muhammadu Buhari(retd), that Nigeria might be facing an existential threat due to its dwindling revenue. The international…
Power supply to increase by 2,000MW – Official
An industry official has revealed that power supply is expected to increase by 2000 megawatts, thereby increasing supplies to homes and businesses and promoting economic productivity across the country. This…
Buhari makes a U-turn over Seplat, ExxonMobil $1.3bn deal
The President, Major General Muhammadu Buhari (retd.) in alignment with the Nigerian National Petroleum Company Limited, reversed his authorisation of the $1.3bn acquisition shares capital of Mobil Producing Nigeria Unlimited…
Elon Musk sells $7bn Telsa shares amid Twitter buyout fray
Amid the legal battle with Twitter over his $44 billion buyout deal, the Chairman of Telsa, Elon Musk has sold about $7 billion worth of his electric car company shares.…
Diesel hike: NRC slash Lagos-Ibadan trips by 67%
The Nigeria Railway Corporation has decided to reduce the number of trips on the Lagos-Ibadan Train Service by about 66.67 per cent. The decision was made as a result of…
Nigeria’s mineral production rose by 39% in 2021 – NBS
The National Bureau of Statistics has disclosed that Nigeria’s mineral production increased by 39.19% in 2021, from 64.29 million tons recorded in 2020 to 89.48 million tons in 2021. This…
FG budgets N8.68tn for agric, food imports – Report
The Federal Government budgeted an estimated N8.68tn for agriculture and food imports from 2016 to 2021, according to a report. The PUNCH reported that of the estimated N8.68tn, about N874.83bn…
Harmonise foreign exchange rate – Group tells CBN
The Nigerian Economic Summit Group has urged the Central Bank of Nigeria to harmonise foreign exchange rates as the nation battles scarcity of forex and dwindling value of the naira,…
Nigeria ranks fourth on World Bank debtors’ list
Nigeria under the regime of the President, Major General Muhammadu Buhari(retd), currently ranks fourth on the World Bank’s top 10 International Development Association borrowers’ list. Rising debt has pushed Nigeria…
Experts slam FG as debt servicing nears N10.43tn
Experts have slammed the Federal Government following its projection that debt servicing will cost N10.43tn by 2025. According to the 2023-2035 Medium Term Expenditure Framework & Fiscal Strategy Paper, the…
