CBN Devalues Naira to 630/$1 The Central Bank of Nigeria (CBN) has devalued the Naira to N631 to the dollar from N461.6 it sold at the Importers and Exporters (I&E) window on Wednesday. The devaluation came 48 hours after President Bola Ahmed Tinubu announced the plans...

Subsidy: NLC Rejects New Pump Price, Threatens to Withdraw from Dialogue The Nigeria Labour Congress (NLC) has urged the Federal Government to immediately instruct the Nigerian National Petroleum Company Ltd (NNPCL) to withdraw the just released pricing template to allow free flow of discussions by...

Subsidy: NNPC Sells Petrol In Lagos For N488 And N537 In Abuja, PH N511   The long awaited price for petrol was effected by NNPC limited Wednesday morning providing clarity around prices post the removal of the controversial subsidy which cost almost $10bn annually. Economic Confidential also...

'N11trn Spent On Moribund Refineries In 13 Years'   The House of Representatives Ad Hoc Committee on the State of Refineries in the Country has said the Federal Government spent a total sum of N11,349,583,186,313.40 from 2010 to date. The Chairman of the committee, Ganiyu Johnson, however,...

No Need For Panic Over Subsidy Removal – FG Assures The Federal Government has asked Nigerians not to panic over the announcement of the removal of petrol subsidy by President Bola Ahmed Tinubu. In his inaugural speech on Monday, Tinubu the subsidy regime is gone, a statement...

Buhari Flags Off NNPC Wadi-B Oil Drilling In Borno   President Muhammadu Buhari Tuesday flagged off crude oil drilling campaign at Wadi-B l Tuba village, 35 kilometers away from Maiduguri City off Monguno road. He said the oil exploration if successful will improve security, electricity energy and...