The Saudi Arabian Minister of Energy Industry and Mineral Resources, Khalid Al Falih has hinted on the possibility of his country establishing a refinery in Nigeria. Khalid Al Falih dropped the hint on...

A Singaporean agro-allied company, Olam International Limited on Tuesday offered to acquire Dangote Flour Mills Plc (DFM) for ₦130 billion. In a notice to the Nigerian Stock Exchange (NSE), Dangote Flour...

Despite concerns over the country’s rising debt profile, the Nigerian government is seeking to obtain another fresh external loan of $247.3 million for the development of infrastructure. The approval...

Nigeria’s Minister of State for Petroleum Resources, Dr. Ibe Kachikwu has claimed that the landing cost of Premium Motor Spirit (PMS) also known as petrol is now  ₦35 higher than the pump price of...

The International Monetary Fund (IMF) on Thursday ranked Nigeria as the second worst country in the world in the use of sovereign wealth funds. In its Fiscal Monitor report released at the ongoing Spring...

Shareholders on Tuesday filed a new lawsuit against Boeing, accusing the company of defrauding them by concealing safety deficiencies in its 737 Max planes before two fatal crashes led to their worldwide...

The World Bank has revealed that Nigeria’s economy has been slipping since 1995 and had continued the downward trend up till 2018. In its latest report on the regional economy titled, ‘Africa’s Pulse’...

The Debt Management Office (DMO) has revealed that Nigeria’s aggregate public debt grew 12.25 percent as at December 31, 2018, totalling ₦24.387 trillion ($79.437 billion) as compared to ₦21.7 trillion...

The International Monetary Fund (IMF) says Nigeria’s economy is recovering as President Muhammadu Buhari’s economic initiatives have been able to greatly strengthen the country’s reserves.  According...

Business mogul and Africa’s richest man, Aliko Dangote has said that 60 percent of the people living in the North-West and North-East regions of Nigeria are living in extreme poverty due to bad leadership. Speaking...

   The International Monetary Fund (IMF) on Wednesday called on the Nigerian government to end fuel subsidies in order to help reduce the poverty gap and free up additional fiscal space. According...

The Nigerian Shippers’ Council (NSC) says the construction of an Inland Dry Port (IDP) at the terminal end of the ongoing Lagos-Ibadan standard gauge railway line willl end the perennial traffic gridlock...

Nigeria’s Minister of Finance, Zainab Ahmed says the Federal Government has concluded plans to increase revenue by introducing new taxes. The announcement came barely a week after the Minister of Budget...

Nigeria’s external reserves have leaped to $43.195 billion as of December 28, 2018, indicating an 11 percent increase from the $38.912 billion it was as of January 2, 2018. This represents an increase...

The Nigerian National Petroleum Corporation (NNPC) on Thursday announced the formal commencement of the first phase of rehabilitation work to be carried out on the 210,000 barrels per day capacity Port...

According to data released on Tuesday by the Nigerian National Petroleum Corporation (NNPC), the operating deficit recorded by the nation’s refineries rose by 39 per cent to ₦132.5 billion in 2018,...

President Muhammadu Buhari has revoked the operating licence granted to Shell Petroleum Development Company (SPDC) for Oil Mining Lease (OML) 11 located in Rivers State. The revocation of the operating...

The Central Bank of Nigeria (CBN) has denied reports making the rounds that its Governor, Mr. Godwin Emefiele has been removed from office by President Muhammadu Buhari. Responding to the reports, CBN’s...

Power generation in Nigeria dropped by 1,108 Mega Watts (MW) in the last seven days, leaving the country with just 3,456 megawatts since Tuesday.  Recent data from the Nigeria Electricity System Operator,...

The Federal Government of Nigeria has ordered some foreign oil and gas companies to pay nearly $20 billion in taxes owed to states, industries and government. A letter sent to the affected companies earlier...