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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 crude holding sway as the main source of state revenue, tax enforcement was lax and people showed little interest in what those in power did with the...

Nigeria has again lost its Africa’s top oil producer status to Angola, as the country’s crude oil production fell by 67,000 barrels per day last month,...

Part 5, Section 62 of the Petroleum Industry Governance Bill, 2016, proposed by the two chambers of the National Assembly, seeks to empower a “National Petroleum Company” that would execute contracts and transact business on behalf of government without recourse to the Bureau for Public Procurement under the Public Procurement Act and Fiscal Responsibility...

Governor Ayodele Fayose of Ekiti State, on Sunday, accused the President Muhammadu Buhari-led Federal Government of planning to impose more hardships on...

According to a report from PUNCH, the National Assembly’s recent peace moves with the executive over the 2016 budget crisis had flopped. The National Assembly had, on Saturday, reached out to the executive and asked President Muhammadu Buhari to sign the document and then send a supplementary budget to the lawmakers, a move which the President rejected. A minister said...

“I had to box my way through the CBN (central bank) to get a bit of (foreign exchange) allocation,” he said, blaming the fuel shortages also...

Contrary to reports, the Managing Director, Nigerian National Petroleum Corporation, Retail, Mrs. Esther Nnamdi-Ogbue was not arrested by the Economic...

•  Diamond Bank takes lead in forex allocation CBN FOREX ALLOCATION TO BANKS IN MARCH Bank Mar 1-4 ($) Mar 7-11 ($) Mar 14-18 ($) Mar...

The Abuja Chamber of Commerce and Industry, ACCI, has expressed disappointment with the outcome of President Muhammadu Buhari’s Economic Retreat in Abuja,...

A civil society organisation, Rescue Nigeria Anti-corruption Network, ReNAN, has urged Nigerians to trust the Minister of State Petroleum, Dr. Ibe Kachikwu,...