Report Reveals Nigeria, Others Need $100/Barrel Oil to Balance Budgets   Emerging economies that produce oil, like Nigeria, Angola and Ecuador, need prices to be around $100 per barrel to balance their budgets, according to a report by Reuters on Monday. It noted that lower oil prices...

The Nigerian National Petroleum Company Limited (NNPCL) and the Nigerian Upstream Petroleum Regulatory Authority (NUPRA) say the country’s crude oil production

According to Osagie Okunbor, the Managing Director, Shell Petroleum Development Company and Chair, Shell Companies in Nigeria, the company has no plans to leave Nigeria despite moves to divest its onshore assets. 

'We Invested Over $25bn in Oil, Cement, Sugar in Seven Years'   Africa’s richest man, Aliko Dangote, has disclosed that his business conglomerates have invested over $25 billion in sectors such as oil and gas, cement and sugar in the last seven years in Nigeria. Dangote made...

To show their support to Mele Kyari, the Managing Director of NNPC Group, acoalition of 92 Civil Society Organizations (CSOs) are urging President Bola Tinubu to oppose initiatives that they claim are meant to diminish Kyari's contributions to the Nigerian economy. 

Saudi Arabia has announced its decision not to renew its 50-year petro-dollar agreement with the United States, which had mandated oil sales exclusively in US dollars. This agreement expired on June 9, 2024.