The Federal Government recorded a deficit of N890.9bn in its fiscal operations within the first four months of this year, figures obtained from the Federal Ministry of Finance indicated. Financial analysts attributed the development to over-reliance on oil revenue and cautioned the government against borrowing. The...

The drop in Nigeria’s crude oil revenue in the first quarter of 2016, put at N53.72bn, is higher than the total amount the nation lost in the whole of 2015 (N51.3bn) as a result of incessant attacks on pipelines conveying petrol. Nigeria’s crude oil export...

The Federal Government has said the country’s economy was technically in a recession. The Minister of Finance, Mrs. Kemi Adeosun, who appeared before the Senate, said the current indices in the country had shown that there was an economic downturn. A recession is defined as a significant...

Economists on Wednesday advised the Federal Government and the Central Bank of Nigeria to review their policies and introduce measures that would turn around the dwindling fortunes of the nation’s economy. They spoke against the backdrop of the persistent fall of the naira against the...

Daring militants blasted an oil pipeline belonging to the Shell Petroleum Development Company (SPDC) in Batan community in Warri South West Local Government area of Delta State. The incident occurred at SPDC Camp Five at about 1 a.m. with a huge fire enveloping the site...

The scarcity of aviation fuel, popularly called Jet-A1, did not only disrupt flight activities at airports across the country yesterday, but also affected private and government programmes in the Federal Capital Territory. It was learnt that several programmes in Abuja were either postponed or delayed...