Category: Nigeria

Economy shrank year-on-year for three consecutive quarters IMF forecasts Nigeria economy will contract 1.7% in 2016 Nigeria’s economic slump continued in the third quarter on low oil revenue and foreign Continue Reading

Nigeria’s economic slump deepened in the third quarter as oil production continued to fall and factory output was hit by a shortage of dollars. Gross domestic product in Africa’s most Continue Reading

Market stall vendors in Yenagoa, Nigeria. Economy shrank year-on-year for three consecutive quarters IMF forecasts Nigeria economy will contract 1.7% in 2016 Nigeria’s economic slump continued in the third quarter Continue Reading

Nigeria’s hopes of ramping up its oil output this year have been diminished, as renewed attacks on oil infrastructure in the Niger Delta have shut-in production of popular export grade Continue Reading

Amount to be settled through crude oil sales over five years Agreement is less than the $6.8 billion previously discussed Nigeria reached a $5.1 billion settlement to reimburse foreign oil Continue Reading

Niger Delta Avengers, NDA, yesterday blew up the Nembe 1, 2 and 3 trunk line jointly operated by Agip, Oando and Shell Petroleum Development Company, SPDC, disrupting the supply of Continue Reading

Port Harcourt — Militant groups are fighting for a greater share of the Niger Delta’s vast oil wealth The sand is still hot under our feet. The oil thieves must Continue Reading

A group calling itself the Niger Delta Avengers said it was the one responding to terrorism and tyranny with its latest attack on crude oil export pipeline. The militant group Continue Reading

The Minister of State for Petroleum Resources, Ibe Kachikwu, has expressed government’s disappointment at the spate of attacks on Forcados export pipeline by armed militant groups despite the ongoing dialogue Continue Reading