Nigeria has in the past five years paid $25.220 billion (an estimated N5 trillion based on the old fixed exchange rate) in repayment of loans and service charges within the period of 2011 to 2015. The 2015 Annual Report of the Debt Management Office (DMO)...

Oil prices eased in Asia Monday as an increase in US drilling activity and a strong dollar reversed gains from last week’s better-than-forecast US jobs report. The commodity eked out modest gains Friday after data showed the world’s top economy created 287,000 jobs in June...

... ‘How to optimise resource monetisation’ Only 25 per cent of the country’s gas reserves is being utilised, the Managing Director of Shell Petroleum Development Company (SPDC) and Country Chair of Shell Companies in Nigeria, Mr. Osagie Okunbor, has said. He spoke at the Nigerian Gas...

...FAAC pushes for fresh forensic audit of corporation The Federation Accounts Allocation Committee (FAAC) has disclosed that the Nigerian National Petroleum Corporation (NNPC) is indebted to it to the tune of N5 trillion over the last five years. The debt, according to FAAC, was incurred between...

In a move that generates anxiety among banks customers, the Central Bank of Nigeria (CBN) has disclosed that it is monitoring activities of some commercial lenders. This development came on the heels of change in the management of the Skye Bank by the CBN, after...

The country’s crude oil production stands at about 1.9 million barrels per day (bpd), the Minister of Petroleum Resources and immediate past group managing director of the Nigerian National Petroleum Corporation (NNPC), Mr Emmanuel Ibe Kachikwu , said. Kachikwu made the comments at a ceremony...