The National Bureau of Statistics has released the Gross Domestic Product growth rate for the country, with the economy recording a contraction of -1.3 per cent in the fourth quarter of 2016 and – 1.5 per cent for the year. The NBS explained that in...

The Nigerian National Petroleum Corporation (NNPC) said it hopes to ramp up crude oil production above the country’s budget benchmark of 2.2 million barrels per day (b/d) by the end of the second quarter of 2017 due to the restoration of critical export pipelines...

The Special Adviser to the President on Economic Matters, Adeyemi Dipeolu, stated this while reacting to the GDP figures released on Tuesday by the National Bureau of Statistics. He said though the figures reflected the "slowdown" in the economy for most of 2016, it also...

The Organization of the Petroleum Exporting Countries (OPEC) has achieved a record 94 per cent compliance in the first month of an agreed production cut deal, its Secretary-General Mohammad Barkindo said in Abuja. This came as oil prices edged higher on Monday as investors showed...

Nigeria's oil production has risen to 2.1 million barrels a day, the managing director of state oil firm NNPC has said, without giving an explanation for the increase. "We are hoping that by the end of 2017 we should ramp up production to above 2.2...

The number of domestic airlines in the country has dropped from 150 to eight in the last 17 years, the Nigerian Civil Aviation Authority has said. The General Manager, Public Relations, NCAA, Sam Adurogboye, said during an interaction with journalists that the development was due...