Oil Products Import Decline To N1.87trn In Q4, 2022   The National Bureau of Statistics (NBS) has said oil products imports dipped from N2.29trillion in the third quarter to N1.87 trillion in fourth quarter of last year. This was contained in a document that The Economic Confidential...

Nigeria’s Oil And Revenue Now $742.48bn - NEITI   The Nigeria Extractive Industries Transparency Initiative (NEITI) has said the Federal Government has earned $741.48billion revenue from the oil and gas sector. The earnings, according to the Executive Secretary Dr. Orji Ogbonnaya Orji, do not include the ones...

In One Month, Nigeria Recovered Stolen Oil Worth N86.2bn   Different government security outfits operating across the country have recovered stolen oil worth N86.2bn in August. A total of 16, 000 litres of diesel valued at N800/litre (N12.8m) were on Monday reported to have been recovered by...

FG Blames Vandalism, Theft, Subsidy As Nigeria’s N9trn Oil Revenue Becomes Threatened Nigeria’s oil production slumped by 28 million barrels between January and July 2022, threatening the Federal Government’s N9.37tn oil and gas revenue target by the end of the year. The Federal Government, in the...

Oil Hits $80 As OPEC+ Okays Another Production Boost     The international oil benchmark, Brent crude, rose to the $80 per barrel mark on Tuesday after the Organisation of the Petroleum Exporting Countries and its Russia-led partners approved another 400,000-barrels-per-day hike in production quotas. Brent, against which...

Obasanjo Tackles Edwin Clark, Says Our Oil Riches Belong To Nigeria, Not Niger Delta   Former President Olusegun Obasanjo yesterday took an exception to Chief Edwin Clark’s reaction to his (Obasanjo’s) insistence that Niger Delta cannot lay claim to the crude oil found in the region. Chief...