NUPRC Assures IOCs not Exiting Nigeria The Nigerian Upstream Petroleum Regulatory Commission has said that no international oil company is leaving Nigeria despite their divestments. NUPRC’s Chief Executive Officer, Gbenga Komolafe, described the recent divestments by IOCs in the oil sector as “portfolio rationalisation”. Komolafe said at...

MPR Hike: UBA, Zenith, 17 Other Banks Pay 8.18% Interest on Savings Aligning with the Central Bank of Nigeria’s (CBN) recent monetary policy adjustment, Nineteen deposit money banks are now offering an 8.18 percent interest rate to customers for their savings. Commercial banks are mandated to...

NGX Sustains Bullish Trend as Investors  Gain N167bn The Nigerian equity market recorded N167bn gain on Wednesday buoyed by AustinLaz & Company, Tantalizers, Wapco, and other gainers. The All-Share Index and market capitalisation rose by 0.26 per cent, to close at 98,227.50 points N59.5tn respectively. This brought...

Again, British Court Grants Chinese Firm Right to Seize Nigerian $25m Assets A court in the British Virgin Islands has, again, granted Zhongshan Fucheng Industrial Investment Co. Ltd, a Chinese firm, the authority to seize another £20 million ($25 million) from Nigeria’s foreign denominated assets...

The Federation Account Allocation Committee (FAAC) has distributed N1.411 trillion among the three tiers of government for October 2024. 

According to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), the country's oil reserves have declined by 50 billion barrels over the past 14 years.