Frontpage

Nigerian-owned international oil company, Aiteo, on Sunday said it had declared force majeure on the Nembe Creek Trunk Line following a reported fire incident. A statement released to business a.m. by the company’s media conract, Ndiana Matthew, said the company was informed of the fire outbreak by its surveillance team comprising the JTF, FSS around […]

Oil prices jumped on Monday as the United States looked set to announce that all buyers of Iranian oil must end their imports or be subject to sanctions. Brent crude futures rose as much as 3.3 percent to $74.31 a barrel, the highest since Nov. 1, before easing back to $73.62 by 0647 GMT, which […]

The Federation Account Allocation Committee (FAAC) has disbursed N1.92 trillion to three tiers of government in the first quarter of 2019, according to the National Bureau of Statistics (NBS). The NBS said this in FACC monthly allocation for January, February and March 2019 Disbursement statistics published on its website and analysed by the News Agency […]

Zainab Ahmed, the minister of finance,  has stated that while the federal government borrows to deliver on its promises, it was also mindful of rising debt burden, which eats up about 25 per cent of the country’s annual earnings. Ahmed said this in an interview with the News Agency of Nigeria (NAN) on the side-line […]

President Nicolas Maduro is funneling cashflow from Venezuelan oil sales through Russian state energy giant Rosneft as he seeks to evade U.S. sanctions designed to oust him from power, according to sources and documents reviewed by Reuters. The sales are the latest sign of the growing dependence of Venezuela’s cash-strapped government on Russia as the […]

The Central Bank of Nigeria’s (CBN) current foreign exchange (forex) policy is working well and is unlikely to be changed anytime soon, Lai Mohammed, the minister of information, told Reuters. He also commended efforts of the Godwin Emefiele, CBN Governor, ensuring exchange rate stability as well as sustained reduction in inflation in the country. Nigeria […]

When the next salary alerts hit the phones of Nigerian workers, one thing that is certain is that their accounts will be ‘heavier’ than before. Reason is president Mohammadu Buhari has given assent to the new minimum wage bill passed by the National Assembly. The implementation of the same law starts today. Ita Enang, a […]

Nigerians’ familiarity with and  living in darkness may not change soon as the power assets in the country suffer from the weight of renewal and new investments. Now, darkness may soon engulf the country as the nation suffered yet another system collapse as the nation’s power generation fell to a record low on Tuesday following […]