United States carrier, United Airlines, will stop flying to Nigeria from June 2016 ending operations on its only African route because of weakness in the energy sector and difficulties in repatriating money from tickets sold in the country. This came...

Global oil benchmark, Brent crude, on October 26, 2016 has traded above $50 per barrel for the first time in 2016 as supply disruptions and increased global demand continue to fuel a recovery. Brent, against which Nigeria’s oil is priced,...

Federation Account: Table of Allocation of N289bn Disbursed in May 2016 A total sum of N289bn was disbursed to Federal, States and Local Government Councils in Nigeria at the monthly meeting of the Federation Account Committee (FAAC) which was held...

Nigeria’s foreign reserves recorded the lowest drop in the last four years, according to data from the Central Bank of Nigeria (CBN). The records show that the movement in reserves drastically slowed in the last one year when compared to...

The Nigerian military has confirmed the arrest of suspected members of the new militant group, the Niger Delta Avengers (NDA) who were allegedly responsible for recent attacks on oil pipelines. The Director Defence Information (DDI), Brigadier General Rabe Abubakar, who...

Federal Government of Nigeria has finally removed subsidy from sale of Premium Motor Spirit, PMS, also known as petrol with immediate effect. An official of Nigeria National Petrolem Corporation (NNPC) told Economic Confidential that there was no provision in...