How Did we get into the Economic Conundrum I regret to be the bearer of somber news, but the Dangote refinery is not the panacea we require to address the persistent fuel shortage, and I doubt we'll see fuel prices dip below 900 naira per...

Stock Market Capitalisation Falls by N622bn At the close of trading on Monday, investors lost N622bn due to sell-offs of some telecoms and banking stocks. The market which opened with the All-Share Index at 54,892.53 lost 2.08 per cent to close 53, at 750.77. The market capitalisation...

NUPRC Rejects FG Approval of Seplat, Mobil Deal The Nigerian Upstream Petroleum Regulatory Commission says that the status quo as regards the acquisition of the entire share capital of Mobil Producing Nigeria Unlimited by Seplat Energy Offshore Limited remains unchanged. It specifically stated that the status...

Nigeria’s Offshore Rig Counts Hit 12 In May As Demand Recovers         International Association of Drilling Contractors (IADC), Nigeria chapter, has hinted at slight market recovery going by the rig counts, stressing the need for prioritisation of training and retraining of members to meet industry’s standards. It,...

SEPLAT, NNPC To Build Gas Plant In Imo         Seplat Group has partnered with the Nigerian National Petroleum Corporation to site a multi-billion-naira gas plant at Asaa, Ohaji-Egbema Local Government Area of Imo State. Imo State governor, Senator Hope Uzodinma, disclosed this on Twitter on Friday. He said...

Presidential panel: NPDC, Seplat Short-changed FG By $1.8bn, N8.8bn The Special Presidential Investigation Panel for the Recovery of Public Property says the Nigerian Petroleum Development Company Ltd and one of its Joint Venture partners, Seplat Petroleum Development Company Plc, have short-changed the Federal Government by...