NNPC Refutes $6.8bn International Oil Debt Allegation The Nigerian National Petroleum Company (NNPC) Limited says it does not owe international oil traders $6.8 billion. Reports had said the company is indebted to international oil traders to the tune of $6.8 billon and that it has not...

Court Orders Forfeiture of $2.04m, Assets Linked to Emefiele The Federal High Court in Lagos has ordered the interim forfeiture of a cash sum of $2,045m linked to the former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele. Justice Akintayo Aluko also ordered the...

Energy Transition: Nigeria, Equatorial Guinea Ink Pipeline Deal As part of the commitment to its gas expansion and energy transition programmes, Nigeria on Wednesday evening signed an agreement on Gulf of Guinea Pipeline Project with the Republic of Equatorial Guinea. President Bola Ahmed Tinubu, who is...

OPEC Places Nigeria's Crude Oil Production at 1.3mbpd Nigeria’s average daily crude oil production increased marginally to 1.307 million barrels per day in July, the Organisation of the Petroleum Exporting Countries said on Monday. OPEC’s figure is contrary to claims by President Bola Tinubu and the...

Nigeria’s Fiscal Deficit Drops 29% Nigeria’s budget deficit has reduced by 29 percent from 2023 as the federal government eyes banks’ realised foreign exchange gains. Data from the latest quarterly statistical bulletin of the Central Bank of Nigeria (CBN) shows that the country’s fiscal deficit fell...

Tinubu Commissions 20 CNG Buses At Presidential Villa President Bola Tinubu has commissioned the first set of Compressed Natural Gas (CNG) buses at the Presidential Villa, Abuja. The buses numbering 20 were said to be the first batch produced locally by local manufacturer, Innoson Motors. Some of...