Nigeria Loses $9bn Annually to Illegal Mining The House of Representatives Committee on solid minerals development says Nigeria loses $9 billion annually to illegal mining. Jonathan Gbefwi, chairman of the committee, spoke on Monday at a public hearing organised to investigate illegal mining in the solid...

PH Refinery Receives 1m Barrel Crude Oil, Gets License for Take-Off Following the mechanical completion of the Old Port Harcourt Refinery in December, last year, a total of one million barrels of crude oil has been supplied to the plant by the Nigerian National Petroleum...

Oil Theft: Nigeria Lost $1.8bn Fuel in Nine Years — NEITI The Executive Secretary of the Nigeri Extractive Industries Transparency Initiative (NEITI), Dr Ogbonnaya Orji, has disclosed that the country lost $1.84bn worth of petroleum products from refineries in nine years. Orji stated this on Monday...

Nigeria to Become Net Fuel Exporter by December – Kyari The Group Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari, has said Nigeria will be a net exporter of refined petroleum products by December this year, based on emerging indicators in the...

FG, W’Bank Discuss $50m Deal to Drive Power Sector Forward The Federal Government has sought the assistance of the World Bank for $50m to support state governments in the installation of solar plants and infrastructure upgrades. The Minister of Finance and the Coordinating Minister of the...

Inflation Increases to 34.19% Amid Soaring Food Prices Nigeria’s inflation rate increased to 34.19 percent in June 2024 from 33.95 percent in May. The data is captured in the National Bureau of Statistics (NBS) in its consumer price index (CPI) report for June, released on Monday. The...