Nigeria will reduce gasoline costs and scrap a fuel subsidy under a pricing mechanism to come into effect from January, Petroleum Minister of State Emmanuel Kachikwu said. Prices will fall Continue Reading
As many as 100 people were killed by an explosion at a gas plant in southeastern Nigeria, a local journalist at the scene said on Friday. “I saw around 100 Continue Reading
The National Chairman of the All Progressives Congress (APC), Chief John Odigie-Oyegun, yesterday said the eventual removal of fuel subsidy is inevitable. He said the gradual removal of subsidy is Continue Reading
Nigerian President Muhammadu Buhari hinted for the first time that he would accept a devaluation of the naira, spurring speculation it may take place early next year when the local Continue Reading
The federal government has blamed the lingering fuel scarcity on the poor management of the subsidy regime by the administration of former President Goodluck Jonathan. Information and Culture Lai Muhammed, Continue Reading
Nigerian President Muhammadu Buhari asked lawmakers to approve the country’s biggest ever budget on Tuesday as he looks to revive an economy hit by collapsing oil prices. Buhari outlined plans Continue Reading
The Nigerian government expects to earn Naira 820 billion ($4 billion) from oil exports in 2016, based on a production assumption of 2.2 million b/d and a benchmark price of Continue Reading
Premium motor spirit (PMS), popularly called petrol, has emerged Nigeria’s biggest import out of a total value of Nigeria’s imports of N1.69 trillion in the third quarter of 2015, the Continue Reading
The Federal Government stated, yesterday, that the country no longer has the resources to fund the oil and gas industry, and is therefore, considering and developing new models of financing Continue Reading
Israel and Turkey have reached a preliminary agreement to normalize relations, including the return of one another’s ambassadors to both countries, an Israeli official said Thursday. The deal comes five Continue Reading
