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Revenue from crude oil may drop further from the $41.8 billion in 2016 to $38.5 billion (N1.174 trillion) this year. At yesterday’s Brent crude price of $55.53 and with an improved production of 1.9 million barrels per day, the country is expected to earn N1.174 trillion by the end of 2017 if prices do...

Justice John Tsoho of the Federal High Court, Abuja Division, yesterday ordered an interim forfeiture of Oil Prospecting Licence (OPL 245) otherwise known...

ABUJA— THE Governor of Central Bank of Nigeria, CBN, Mr. Godwin Emefiele, yesterday, painted a gloomy picture of the economy during a closed-door meeting...

You just can’t get away from it. While researching for this article, I decided to stay clear of Europe just in case I ran into the term Brexit for the...

A Nigerian militant group has blown up a Nigerian National Petroleum Corporation (NNPC) pipeline in Oruk Anam local government area in Akwa Ibom, the group said in a tweet on Thursday. The Niger Delta Avengers, which has carried out attacks on oil facilities in Nigeria’s southern oil region, had earlier said on Monday it would only negotiate with the government if...

Ibe Kachikwu, minister of state for petroleum resources, says the ministry will send the Petroleum Industry bill (PIB) to the senate in three weeks time. In...

The credit ratings of Nigeria and Angola, Africa’s two biggest oil producers, were among four countries downgraded by Moody’s Investors Service, citing the negative impact depressed oil prices have had on these governments’ balance sheets, liquidity and creditworthiness. Nigeria and Gabon were cut to B1 from Ba3 as “the prospect of lower-for-longer oil prices”...

Investors in the capital market have lamented the lull in market activities and the huge lose recorded in the Nigeria Stock Exchange (NSE) where investors...

Depressed oil prices, rampant corruption, and pipeline vandalism are only parts of Nigeria’s oil problem. It’s now losing a massive 400,000 barrels of crude daily to pirates in the Gulf of Guinea, an amount equal to the entire daily export capacity of its Forcados terminal. Overall damage from piracy, theft and fraud for Africa’s largest oil exporter is estimated...

After gorging itself for decades on petrodollars, the Nigerian state has been forced by tumbling oil prices to turn to a new source of cash: the taxman. With...