The Federal Government took a major step in its plan to revitalise the steel sector as it signed a renegotiated concession agreement with Global Steel Holdings Limited for the Nigerian Iron Ore Mining Company (NIOMCO), Itakpe. The new agreement also reverted Ajaokuta Steel Complex to the...

Nigeria was confronted with the prospect of double jeopardy monday, when Anglo-Dutch oil multinational, Shell, confirmed that suspected militants believed to be from the Niger Delta attacked its Trans Ramos Pipeline (TRP) in Delta State on Saturday night. This came as concerns mounted over oil...

The country’s earnings from crude oil export have continued to fall, as latest data from the Central Bank of Nigeria showed that the volume of crude export dropped by 10.23 million barrels in the month of May. At the official exchange rate of N315.5 to...

The nation’s external reserves fell marginally to $26.20bn on July 28, down from $26.32 on July 22, data from the Central Bank of Nigeria’s website showed on Monday. Month-on-month, the reserves fell by 0.4 per cent from the $26.34bn recorded on June 29, the report...

Global oil benchmark, Brent crude, fell by over three per cent on Monday to around $42 per barrel amid worries about growing glut in the market. A Reuters survey last Friday found that output from the Organisation of Petroleum Exporting Countries likely rose in July...

As the price of kerosene continues to soar because of inadequate supply, marketers have been accused of selling Jet A1, better known as aviation fuel, as kerosene, in the process making a kill of N50-N100 per litre. The diversion of the product to fuel outlets...