The naira hit an all-time low of 409 against the dollar at the parallel market on Thursday, two days after the Central Bank of Nigeria banned nine Deposit Money Banks from the interbank foreign exchange market over their failure...
As four of the nation’s crude oil grades remain under force majeure and the schedule for two other grades face delay, the country is losing at least N10.7bn in revenue daily.
Following the declaration of force majeures on the grades,...
The second over-the-counter foreign exchange futures contract (NGUS AUG 24 2016) with notional amount of $152.48m at $/N310, matured and was settled on the FMDQ platform.
This development, FMDQ explained in a statement yesterday, was in line with the OTC...
The Lagos State Governor, Mr. Akinwunmi Ambode, has advised the Federal Government to allow state governments to develop the natural resources within their domains in order to create the necessary infrastructure that will attract investors.
According to him, the Federal...
The Minister of Petroleum Resources, Dr Ibe Kachikwu has disclosed that various government entities as well as oil companies in the Niger Delta region have spent over 40 billion dollars without any meaningful development in the last 10 years.
The...
The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC) Dr. Maikanti Baru has urged the National Association of Petroleum Explorationists (NAPE) to explore the hydrocarbon potentials of green frontier basins in order to increase the depleting reserves...
