CBN Announces Over $1.5 Billion Inflow, Naira Strengthens Good news for the Nigerian economy! The Central Bank of Nigeria (CBN) reported a significant inflow of over $1.5 billion in recent days. This is seen as a positive outcome of the CBN’s monetary policies aimed at stabilizing the foreign exchange market. Naira Gains Ground: The Nigerian…
PETAN Elects New Exco at AGM in Port Harcourt Rising from today’s AGM and consequent election for new leadership, the following persons were duly elected to run the affairs of the Association from now till March 2026 after meeting all the criteria by the Electoral Committee. The Board was accordingly sworn in and consequently inaugurated…
N’Delta Elders, Youths Commends Boyloaf Commitment to end Oil Theft Hundreds of elders and Youths under various peace advocacy groups have showered encomium on the foremost Niger Delta ex-agitator, Chief Ebikabowei Victor-Ben, also known as “General Boyloaf” over his commitment to end crude oil theft in the region. According to the Elders and Youths from…
Kyari says Bridging Energy Access Gap Vital for Nigeria’s Economic Growth. The Nigerian National Petroleum Company Limited (NNPC Ltd) has emphasized the critical importance of bridging the energy access gap to the creation of economic prosperity of the country. The Group Chief Executive Officer of NNPC Ltd, Mr. Mele Kyari, made this submission in a…
Dangote Foundation Donates N15 Billion in Rice to Combat Hunger Across Nigeria The Aliko Dangote Foundation (ADF) has launched a massive food intervention program valued at N15 billion to support vulnerable Nigerians facing economic hardship. The initiative involves distributing over one million 10kg bags of rice across all 774 local government areas in the country….
Dangote Refinery Poised to Slash Africa’s $17 Billion European Oil Imports, Threatening Foreign Refineries Nigeria’s Dangote oil refinery is on track to significantly reduce the annual $17 billion gasoline import bill from Europe to Africa, posing a challenge to European refineries facing increasing competitive pressures. A recent Reuters report indicates that the full operational capacity…
Nigeria’s Oil Exports Rose By 37.5% to N29trn in 2023 Nigeria earned N29 trillion from crude oil export in 2023, rising by 37.45 per cent from N21.1 trillion recorded from the export of the commodity in 2022, according to data released by the National Bureau of Statistics (NBS). The NBS, in its Foreign Trade Statistics…
Misapplication of Local Content Regulations Frustrating Oil Industry Businesses President Bola Tinubu has instructed the Nigerian Content Development Monitoring Board (NCDMB) to ensure that while implementing the Nigerian Oil and Gas Industry Content Development (NOGICD) Act, it should not deter companies from investing in Nigeria or impede the cost competitiveness of oil and gas projects….
African Refiners Praise Dangote, Ghana Refineries for Boosting Energy Security The African Refiners and Distributors Association (ARDA), led by Executive Secretary Anibor Kragha, is praising the recent opening of the Dangote refinery in Nigeria and the Sentuo refinery in Ghana. ARDA believes these facilities will play a critical role in meeting Africa’s growing energy demands….
Akwa Ibom State to Forge Partnership with Indonesia Across Multiple Sectors The Akwa Ibom State Government has sealed a promising partnership deal with the Republic of Indonesia covering various sectors such as the blue economy, electric vehicles, agriculture, aviation, infrastructure, education, technology, and trade. The collaboration was formalized during a courtesy visit by the Indonesian…
