NNPC Aims to Produce 3 Million Barrels of Crude Oil Daily The Nigerian National Petroleum Company Limited (NNPCL) is confident that it can increase crude oil production from 1.7 million barrels per day to 3 million, says Chief Corporate Communications Officer Olufemi Soneye. Speaking in Abuja...

Naira Depreciates to N1,700/$ at Parallel Market The naira depreciated to N1,700 per dollar at the parallel section of the foreign exchange (FX) market on Friday. At the end of trading hours, the naira depreciated by 1.49 percent compared to the N1,675/$ traded on Thursday. The N1,700...

Naira Declines by 8.2% Against Dollar Nigeria’s naira has continued its downward slide, falling to a new low of N1,677 per dollar at the official close on Wednesday, according to data from FMDQ compiled by Bloomberg. This represents a decline of 8.2 per cent since the...

Reps to FG: Allow Marketers Procure Petrol from Dangote Refinery The House of Representatives, on Thursday, urged the Federal Government to direct the Nigerian National Petroleum Company Limited (NNPCL) and the Dangote Petroleum Refinery to allow independent marketers to commence the lifting of fuel from...

Petrol Landing Cost Drops to N981 per Litre The landing cost of petrol, has dropped to N981/litre, according to data released by the Major Energies Marketers Association of Nigeria on Thursday. The petrol landing cost, around N1,130 in previous weeks, came down by over N140 as...

UPDATE: NDIC Completes 84.98% Payment to Depositors of Defunct Heritage Bank The Nigeria Deposit Insurance Corporation (NDIC) said it has paid 84.98 per cent of the depositors whose funds are trapped in liquidity to the Heritage Bank. The CBN announced the revocation of the licence of...