NNPCL $1bn Investment Claim Misleading, False, Says Dangote The Dangote Petroleum Refinery has stated that the Nigerian National Petroleum Company Limited provided inaccurate and misleading information regarding its $1bn investment in the refinery’s operations. The $20bn Lekki-based firm stressed that the facts were misrepresented in a...

NNPCL Loses Oil Blocks to TotalEnergies, Others The Nigerian National Petroleum Company Exploration and Production Limited, a subsidiary of the Nigerian National Petroleum Company Limited, lost out in the just-concluded oil licensing bid round as winners emerged on Wednesday. The winners were formally announced by the...

FG Approves Sale of Shell’s $2.4bn Onshore Asset to Renaissance Renaissance Africa Energy Company Limited, a local oil and gas consortium, says it has received ministerial consent to acquire Shell Petroleum Development Company. The company announced the development in a statement on Wednesday. The approval was reportedly...

Diaspora Remittances Rise 61% to $4.22bn - CBN The Central Bank of Nigeria has revealed that diaspora remittances processed through International Money Transfer Operators reached $4.22bn between January and October 2024. This figure nearly doubles the $2.62bn recorded during the same period in 2023. CBN Governor Olayemi...

Controversy as Head of Service Reverses Presidential Decision on New Accountant-General In a recent development, the Federal Government has decided to delay the appointment of Mr. Shelmsudeen Babatunde Ogunjimi as the new Acting Accountant-General of the Federation (AGF) following counsel from the Head of Civil...

Several African countries including Nigeria have partnered to create a continental credit rating agency to counterbalance Western credit rating agencies’ bias against Africa.