In One Year, Oil Companies’ Gas Flare Payments Jump From $15.4m To $307.4m   Gas flaring payments made by oil companies increased from a meagre $15.5 million to $307.4 million between 2018 and 2019, the most recent audit report from the Nigeria Extractive Industries Transparency Initiative...

NCS, FOU Intercepts Contraband Worth N723.28m   The Nigeria Customs Service (NCS), Federal Operations Unit (FOU), Zone A, Ikeja, Lagos has announce that it seized several illegally imported items valued at N723.28 million. Announcing the seizure in Lagos, Acting Controller of the unit, Deputy Comptroller Ejibunu HK...

FAAC Meeting Deadlocked As States, LGs Protest $418m Paris Refund Deductions     A meeting of the Federation Account Allocation Committee (FAAC) for October 2021, held last Friday, was inconclusive as states and local governments resisted the commencement of deductions in relation to the $418 million judgement...

Eight-month Fuel Imports Gulp $690m Amid Forex Scarcity As Nigeria’s refineries continue to sit idle, fuel imports remain a major user of foreign exchange as $690.19m (about N285.95bn, using N414.3/$, I&E rate as of Tuesday) was utilised in eight months amid the lingering forex scarcity...