LCCI: FG Must Address Mineral Challenges To Reduce Oil Dependency The Lagos Chamber of Commerce and Industry (LCCI), has charged the Federal Government that, even though the policy to regulate the solid minerals sector in Nigeria has potential economic benefits, the need to address the...

NNPC Oil Revenue Remittance Raises Fresh Questions   The Nigerian National Petroleum Corporation Limited’s alleged failure to remit enough oil revenues to the federation’s coffers has sparked concerns about the organisation’s transparency. Experts suggest auditing the corporation’s books to enhance transparency and strengthen the naira. The Nigerian...

Diversify From Oil to Boost Economic Development - Stakeholders to FG Stakeholders from many sectors have called on the Federal Government to make a U-turn after six decades of heavy reliance on petroleum resources. They emphasized the significance of diversifying the economy by focusing on undeveloped...

Brent Crude Hits $92 Per Barrel   Oil price, on Friday, edged up to over $9o a barrel for the first time since November 2022. Brent crude, the global oil benchmark, increased by 1.69 percent to $92.23 a barrel, while US West Texas Intermediate jumped 2.02 percent...

Why The World Needs More Oil Not Less, by Haitham Al Ghais   What do toothpaste, deodorant, soap, cameras, computers, gasoline, heating oil, jet fuel, car tires, contact lenses and artificial limbs have in common? If oil vanished today, these and many other vital products and services...

Nigeria Loses N34.1bn As Oil Firms Flare 12.7 mscf   Despite Nigeria’s dwindling revenue, oil and gas companies operating in the country flared 12.7 million standard cubic feet (mscf) of gas in July 2023, according to the latest data from the National Oil Spill Detection and...