Nigeria is ramping up efforts to strengthen crude oil production, with the Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPC), Bashir Bayo Ojulari, projecting an incremental increase of about 100,000 barrels per day (bpd) in the coming months.

The Federation Account Allocation Committee (FAAC) received 100 percent of profit oil from Production Sharing Contracts (PSCs) remitted by the Nigerian National Petroleum Company Limited (NNPC Ltd).

State Seek Transparency in $8.8bn Crude-for-loan Agreements State governments have called for a forensic audit of Nigeria’s crude oil-backed borrowing arrangements, warning that opaque crude-for-loan and swap deals may be undermining inflows into the Federation Account. Economic Confidential earlier reported that the Nigerian National Petroleum Company...

Bonga Project Approval to Unlock $20bn Oil Investments - FG President Bola Tinubu has approved a targeted fiscal incentive package aimed at unlocking the long-delayed Bonga Southwest Aparo deepwater project, a development expected to attract about $20bn in foreign direct investment into Nigeria’s oil and...

Senate Grills Ex-NNPC Boss Kyari Over N210trn Audit Concerns   The Senate on Thursday summoned the immediate past Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari, over an alleged N210tn expenditure by the national oil company between 2017 and 2023, which...

Aliko Dangote has announced that ordinary Nigerians will be able to buy shares in the Dangote Refinery within the next four to five months, as the company prepares for listing.