In Two Years, FG Refineries Post N406.62bn Loss     The four refineries owned by the Federal Government made a total loss of N406.62bn in two years, the latest audited financial statements of the plants have shown. The refineries, which are located in Port Harcourt, Kaduna and Warri,...

Nigeria’s Oil Projects Threatened As IOCs Suffer $27.8bn Loss   Several major oil and gas projects in Nigeria may suffer further delays as international oil companies operating in the country saw their financials take a dive in the second quarter of this year. The slump in oil...

Equity Market Lose N70bn, Sell-off Persists     The Nigerian bourse on Tuesday closed lower to reverse the previous day gain as bears regained their grip following the sell-off that have persisted on the equities market. Market breadth closed negative as Total Oil Nigeria le 16 other losers...

Equity Market Begins Week With N9bn Loss     Transactions on the floor of the Nigerian equity market on Monday extended losses as bears tighten their grip on the local bourse. The market breadth also closed positive and recorded 12 gainers against 13 losers. Consequently, the All-Share Index dipped...

NNPC’s Losses Increase By 200%, Now N30.8bn   The Nigerian National Petroleum Corporation lost N30.81bn in April 2020, representing over 200 per cent increase in its operating deficit, latest figures from the oil firm showed on Wednesday. In the report on the corporation’s financial and operational activities...

Stock Investors Lose N55bn As Market Falls Further     Investors in the Nigerian stock market lost N55bn at the end of trading on Monday amid profit-taking. The market breadth closed negative as 14 firms recorded gains while 17 saw their share prices decline. The Nigerian Stock Exchange All-Share...