Crude Oil Sales in Naira Yet to Commence – CORAN The Crude Oil Refinery-owners Association of Nigeria (CORAN) has said that none of their members have begun receiving the sales of crude oil in the local currency, naira. Echie Idoko, the Public Secretary of CORAN, made...

Crude Crisis: I’ll Reveal the Truth at Appropriate Time, Says Kyari The Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, has said he will reveal the truth about the company’s operations in the oil and gas sector at the appropriate...

FG Eyes $1bn from Sales of Dollar-denominated Bonds The Federal Government of Nigeria has introduced its Series I Domestic USD Bond, aiming to raise a minimum of $500m from both local and international investors. In an auction circular released, the government said it aims to double...

Forex Policy: CBN Strengthens Naira with $876m Auction The Central Bank of Nigeria has auctioned $876.26m to end users whose bids were submitted by 26 commercial banks to strengthen the ailing naira. The policy impacted the foreign exchange market on Wednesday as the naira appreciated against...

Senate to Probe NNPC, Dangote over $1.5bn Refinery Project The Senate has questioned the $1.5bn approved in 2021 for the turn-around maintenance of the Port Harcourt Refining and Petrochemical Company with little or no result. It also vowed to probe allegations of sabotage to the supply...

Nigeria Spends N2tn Monthly on Fuel Imports - Tinubu President Bola Tinubu during his recent nationwide broadcast to Nigerians disclosed that the country spends N2tn monthly to import petrol and diesel. The President said, despite Nigeria’s abundant oil and gas resources, his administration met a country...