Coronavirus could affect oil demand, reduce price per barrel by $3

The Coronavirus now constitutes an international threat, which could affect the oil market.  Oilman Sachs Investment Bank study finds that oil demand could drop by 260,000 barrels a day in the coming... Read more »

Nigeria secures $2.5bn gas pipeline finance

Nigeria will close a $2.5billion financing agreement with Chinese lenders by the start of the second quarter of 2020 to fund the single biggest gas pipeline project in the country’s history, after months of holding talks with China... Read more »

Nigeria’s power sector gulped N1.7trn in 3 years, says El-Rufai

Kaduna State governor, Nasir El-Rufai, revealed on Thursday that Nigeria’s power sector has gulped about N1.7trillion in the last three years. The governor disclosed this at the Presidential Villa, Abuja, while briefing... Read more »

$70 per barrel of crude oil good for Nigeria’s fiscal planning, says Sylva

The Minister of State for Petroleum Resources, Timipre Sylva, said if oil prices remain within the$60 and $70 per barrel, it will be good for Nigeria’s fiscal planning and budget implementation in... Read more »

CBN raises bank’s cash ratio for first time in four years

Nigeria’s central bank raised the cash reserve ratio for banks for the first time in four years to curb excess liquidity on the banking system, which it said is contributing to inflation,... Read more »

EFCC quizzes Theodore Orji over alleged N27bn fraud

Operatives of the Economic and Financial Crimes Commission (EFCC) have reportedly interrogated the former governor of Abia State, Senator Theodore Orji, over an alleged fraud of N27 billion. Orji, who was governor... Read more »

Fed govt, states to end dispute on telecom facilities’ Right of Way

The 36 state governors have agreed to resolve the lingering dispute on what should be charged in granting Right of Way (RoW) for the erection, installation and laying of telecommunication infrastructure across... Read more »

NNPC vows to demolish structures on Pipelines Right of Way, prosecute offenders

  In a resolve to end pipeline fire incidents, the Nigerian National Petroleum Corporation (NNPC) has vowed to demolish all structures put on pipeline right of way and also confiscate such buildings. The... Read more »

Over 800 people infected with coronavirus in five countries, 26 dead

China broadened its unprecedented, open-ended lockdowns to encompass around 25 million people today to try to contain a deadly new virus that has sickened hundreds, though the measures’ potential for success is... Read more »

China locks down cities to stop corona virus spread

A viral illness in China that has sickened hundreds of people is not yet a global health emergency, the World Health Organization said today. WHO issued its evaluation after Chinese authorities moved... Read more »
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