Nigeria’s oil revenue dropped by $35.67 billion (about N7 trillion) in 2015 according to the report in the Organisation of Petroleum Exporting Countries (OPEC)’s annual statistics bulletin released yesterday. The report showed that the country earned $41.818 billion from the sale of crude oil (about...

The Asset Management Corporation of Nigeria has sealed the Abuja, Lagos and Port Harcourt premises of Silverbird Galleria belonging to Senator Ben Murray-Bruce. The Abuja Galleria currently houses the Abuja studio of the senator’s Rhythm FM radio station and Silverbird Television station as well as his...

Britain’s economy was plunged into a dizzying unknown today as the country lurched towards the EU exit, with the world economy bracing for a hit on growth and unemployment. Financial markets on Friday indicated the turbulence that lies ahead for the world’s fifth biggest economy,...

The capital adequacy ratios of a number of Nigerian banks will come under increasing pressure should the weakness in the naira and crisis in the nation’s oil sector persist, Fitch Ratings has said. CAR, which is a measure of a bank’s capital, is used to...

The Minister of Power, Works and Housing, Mr. Babatunde Fashola, has said that the Federal Government is increasingly looking to alternative sources such as coal, solar and biomass for power generation in a bid to achieve national energy security. He said the 700-megawatts Zungeru hydropower...

Revenue accruing to the federal, states and local governments went up significantly in May 2016 by N23.628 bn. Following this, the federal, states and local governments shared N305.128bn as against the N281.500bn shared in April. Addressing journalists at the end of the Federation Account Allocation Committee...