Supply Troubles Hit Nigeria’s LPG Industry, Despite Huge Gas Reserves For the second quarter of 2018 alone, 165.71 million litres of Liquefied Petroleum Gas (LPG) were imported into the country, according to the National Bureau of Statistics (NBS). April recorded the highest volumes of LPG (otherwise...

Oil Reserves: Delay In Deepwater Projects Threatens Target   The lack of final investment decisions on seven offshore deepwater oilfield projects in the country poses a threat to the country’s target of 40 billion barrels of crude oil reserves by 2020. The nation’s crude oil reserves fell...

PIB Passage Could Move Nigeria’s Gas Reserves To World’s 3rd Largest   If Nigeria pass the Petroleum Industry Bills (PIBs) which have been split into four parts for ease of passage, the country may become the world’s third largest holder of gas reserves, a former Director...

External Reserves Drop Further, Lose $99m The nation’s foreign exchange reserves have declined further, losing $99m to close at $47.65bn on Monday, latest data from the Central Bank of Nigeria showed on Wednesday. Industry analysts have attributed the recent decline in the external reserves to the...

CBN Buoys Forex Market with $210m The Central Bank of Nigeria (CBN), in its quest to guarantee the availability of forex for customers’ needs in various segments of the market, has injected another sum of $210million into the inter-bank Foreign Exchange Market. Figures obtained from the...