Another pipeline explosion on Sunday evening erupted in Isheri-Idimu community, Egbe-Idimu Local Council Development Area (LCDA) in Lagos State. It was gathered that the inferno broke out after fire gutted Continue Reading
Nigerian President Muhammadu Buhari reversed a government decision to revoke four oil permits from a unit of China’s Sinopec. Buhari “approved the restoration” of the licenses to Addax Petroleum Corp. as Continue Reading
Businesses in Nigeria are losing each year around US$29 billion because of the unreliable power supply, the World Bank said in an estimate about the OPEC country, which is the Continue Reading
Nigerians have been accumulating foreign currencies to protect their wealth from naira volatility and surging inflation, according to a research paper in a journal published by the Central Bank of Continue Reading
As many as 100 oil and gas projects are set to start in Nigeria by 2025, accounting for 23 percent of all projects starts in the industry in Africa within Continue Reading
Few years ago, any economic pundit that thought of the possibility of a privately-owned petroleum refinery that would have the capacity to meet the needs of Nigeria’s downstream sector, and Continue Reading
Oil and gas is the lifeblood of Nigeria’s economy. A total of 1,161 pipeline points were vandalised across Nigeria in the 21 months between January 2019 and September 2020. Nigeria Continue Reading
There is a cloud of uncertainty surrounding $62 billion outstanding taxes and royalties owed Nigeria by operating major oil companies in the country. The federal government had in 2019 taken Continue Reading
Nigeria’s refined petroleum products, especially the Premium Motor Spirit (PMS), otherwise called petrol, is the ‘smuggle gold’ feeding Cameroon, Benin, Togo, Chad and Niger Republic, which all share border with Continue Reading
Nigeria has an urgent insecurity problem . News from the country often emphasises insecurity related to Islamic insurgents in Northern Nigeria, organised armed banditry involving Fulani herdsmen , farmer-herder conflicts, Continue Reading
