FG Spends N18tn on Crude Production Annually, Experts Lament  Nigeria industry operators have lamented that N1.57tn spent on crude oil production monthly is excessive, translating to about N18tn annually. Data collected from different sources, including the Nigerian Upstream Petroleum Regulatory Commission, indicated that the minimum any...

Africa in The Post-Idea World By Kashim Shettima The world has never suffered from a scarcity of ideas. Nations and civilisations have risen on the strength of visionaries, and they have also crumbled under the weight of ideas left in the dusty cupboard of time....

Again, Naira Records Gain Against Dollar at Black Market The Naira has appreciated further against the Dollar at the parallel foreign exchange market. ‎This comes as the Naira recorded the biggest gain against the dollar at the black market on Friday on a week-on-week basis. ‎A Bureau...

Warri Refinery Pauses Operations for Maintenance, One Month After Resumption   Barely a month after announcing the commencement of the 125,000 barrels Warri refinery, the Nigerian National Petroleum Company Limited has said the facility is undergoing a planned routine maintenance programme aimed at ensuring optimal operations. It also...

Exporters Lose $10m Over NPA's System Upgrade   Exporters under the aegis of the Association of West African Exporters and Maritime Professionals (AWAEMAP) have decried massive losses exceeding $10 million due to the Nigerian Ports Authority’s (NPA) integration of the Nigeria Export Proceed (NXP) into the...

Banks Borrow N1.2trn From CBN in One Day Amid Liquidity Pressure   Owing to liquidity challenge, Nigerian Deposit Money Banks (DMBs) have made the largest single withdrawal of N1.2 trillion from the Central Bank’s (CBN) Standing Lending Facility (SLF) to fund operations due to a liquidity shortfall in the...